Contact Lens Market Driven Advancement in Medical Sciences to deal with Ophthalmological Diseases

The global contact lens market is consolidated with the top four players accounting for 68% of the market in 2015. These companies are The Cooper Companies, Johnson & Johnson, Bausch and Lomb, and Alcona Inc. Key players in the market are focusing on innovation and new product development. Thus, players are investing extensively on research and development so as to expand their product portfolio. Companies such as Novartis International AG and Valeant Pharmaceutical are upgrading their products by incorporating new technologies. Companies are also engaging in strategic mergers and acquisitions to strengthen their market position and enhance their technology portfolio, states a new report by Transparency Market Research (TMR). This strategy also helps companies to build a stronger customer relationship and implement engineering know-how. A gain of new resources and competencies is another advantage of acquiring other companies.

This 130 page report gives readers a comprehensive overview of the contact lens market. Browse through 4 data tables and 81 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/contact-lens-market.html

According to the report, the global contact lens market will rise from US$9.74 bn in 2015 to US$18.70 bn by 2024, expanding at a 7.6% CAGR from 2016 to 2024. On the basis of technology, the cast molding segment is likely to lead and will be worth US$14.67 bn by 2024. By product, the market for soft lens will be worth US$13.38 bn by 2024. On the basis of design, the spherical segment will continue to lead through 2024. On the basis of geography, North America, closely followed by Europe is most likely to lead in the market. North America contact lens market is projected to be worth US$5.76 bn by 2024 on account of early penetration of technology in this region and the growing number of youth making use of contact lenses.

Unhealthy Lifestyles and High Use of Digital Gadgets to Drive Demand for Contact Lenses
The number of people who are prone to various ophthalmological disorders such as hypermetropia, myopia, and astigmatism is growing and with it the market for contact lenses. These lenses not help with vision correction but provide the comfort of not having to wear glasses. Unhealthy lifestyle and high use of digital gadgets such as smartphones, tablets, and laptops, for long hours are causing various ophthalmological disorders among people of all age groups. This will ensure a high demand for contact lenses, especially among the younger generation.

The growing trend of adopting contact lenses for the purpose of fashion or to change eye color is expected to boost the market. In addition to this, the adoption of contact lenses in the fashion industry is another driving factor for the market. Moreover, contact lenses can be customized as per customer requirements, fueling their adoption. Teens are often more self-conscious about their appearance and opt for contact lenses, driving the market’s growth. Furthermore, the inconvenience of replacing and repairing eyeglass frames in outdoor activities will also aid the growth of the market.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving contact lens market during 2016 - 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1787

Negative Impression on Customers to Refrain Future Purchase

In rural areas of emerging nations in Asia Pacific and the Middle East, practitioners are not well equipped to be able to prescribe contact lenses as per patient needs. This creates a negative impression about the usage of contact lenses on patients and refrains them from buying these products again. With increasing dropouts, the global contact lens market is hampered. “However, with the rise in the demand for contact lenses, key manufacturers are investing in proper training of practitioners,” says a TMR analyst. This will reduce the impact of the restraint.
In terms of opportunities, the improved economic conditions in countries such as Asia Pacific, Latin America, and the Middle East and Africa are expected to increase the purchasing power of the people. This is expected to positively impact the market. The popularity of contact lenses in China, India, Japan, and South Korea is increasing. The opportunities in rural areas will also aid the growth of the market.

This information is based on the findings of a report published by Transparency Market Research titled “Contact Lens Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

Contact Lens Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2016 - 2024

The global market for contact lenses features a consolidated competitive landscape, with the top four companies, including Johnson & Johnson, The Cooper Companies, Alcona Inc. and Bausch and Lomb, accounting for a share of nearly 68% in the global market in 2015, states Transparency Market Research (TMR) in a new report. Johnson & Johnson, the largest vendor in the market, held nearly 31% share in the global market in the same year.

Volume-wise, the market is expected to rise to 2,135.0 mn units by 2024. TMR also estimates that the global contact lens market, which had a valuation of US$9.74 bn in 2015 in terms of revenue, is expected to expand at a 7.6% CAGR from 2016 through 2024, and rise to US$18.70 bn by 2024. Of the key technologies used for manufacturing contact lenses, the cast molding technology is presently the most preferred, accounting for a share of over 80% of the market’s overall revenues in 2015.

This 130 page report gives readers a comprehensive overview of the contact lens market. Browse through 4 data tables and 81 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/contact-lens-market.html

Rising Prevalence of Ophthalmic Disorders and Rising Popularity as Fashion Accessory Boost Global Sales of Contact Lenses

The vast rise in the world’s population that suffers from a variety of ophthalmic disorders has emerged as the primary growth driver of the global contact lens market lately. The rise in younger population with issues such as refractory errors and weakened eyesight have especially increased the global consumption of contact lenses, which are being increasingly preferred for their comfort, convenience, and aesthetics.

The easy availability of colored, disposable, and affordable varieties of contact lenses have also led to the vast rise in their usage as fashion accessories globally. Attempts made by contact lens manufacturers to educate masses about the proper and safe use of contact lenses and the availability of vast product varieties across distant corners of the globe have also helped stimulate the growth of the global contact lens market in the past few years.

Concerns Regarding Damage from Careless Usage Continue to Limit Large-scale Adoption

Owing to the fact that contact lenses are worn directly on the cornea of the eye, they are required to be handled with exceptional care to prevent eye infections, ulcerations and other eye diseases. It is thus a widely known fact that careless handling or storage of contact lenses, or sleeping with the lenses on can have severe implications after the lenses are worn and remains a key challenge hindering the large-scale usage of contact lenses among skeptical consumers.

Along with this, the fact that practitioners are not well equipped to prescribe contact lenses in certain developing economies across regions such as Asia Pacific and Middle East also threatens to limit the overall growth prospects of the global contact lens market to a certain extent.

Emerging Economies to Present Excellent Growth Opportunities

Nevertheless, the vast untapped opportunities in developing regions can allow vendors in the market to gain substantial traction in the next few years. Expansion across these regions will require innovative marketing strategies and ways of educating the masses about the proper usage of contact lenses will have to be adopted. Over the period between 2016 and 2024, the market for contact lenses in Asia Pacific is expected to expand at a considerable CAGR. The APAC market is expected to reach US$4.76 bn by 2024.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving contact lens market during 2016 - 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1787

Prominent vendors in the market, including Novartis International AG, Menicon Group, STAAR Surgical, Carl Zeiss AG, SynergEyes Inc., Abbott Medical Optics, Inc., Essilor International S.A., Valeant Pharmaceuticals, and Bausch and Lomb have strengthened their hold in regional markets with these approaches. Strategies such as innovation and new product development, high investments in research and development, and exploitation of novel marketing and sales channels have also helped key companies hold sway in the market in the past years. Incorporation of new technologies for upgradation of products and strategic acquisitions entered-in with the aim of expanding product portfolios and market position across regional markets will help companies in beating competition in the next few years.

This review of the global contact lens market is based on a recent market research report published by Transparency Market Research, titled “Contact Lens Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

Contact Lens Market Outlook and Forecast up to 2024

Contact lens comprises of two types of products, such as soft lens and gas permeable lens. Soft lenses are made of plastics and allow oxygen to pass through the eye cornea. They use materials that are translucent and flexible such as silicone hydrogel, that are high on oxygen permeability and are high on water retention capacity which makes them extremely comfortable for prolonged wear. At present, soft lenses have high oxygen permeability factor. Due to this, it can be worn overnight with extreme ease and comfort. These are used for correcting both near and farsightedness, as well as spherical aberration of the eye. In addition, gas permeable (GP) lenses are made up of durable plastics that are rigid and firm and transmit oxygen. It can resist any kind of deposits, as it does not contain water traces. It does not dehydrate easily, which makes them long lasting, durable and easy to handle. In addition, increase in younger population suffering from ophthalmological disorders, there is a continual demand for contact lenses among the population that is currently helping the growth of the contact lens market globally.

The global market for contact lenses features a consolidated competitive landscape, with the top four companies, including Johnson & Johnson, The Cooper Companies, Alcona Inc. and Bausch and Lomb, accounting for a share of nearly 68% in the global market in 2015, states Transparency Market Research (TMR) in a new report. Johnson & Johnson, the largest vendor in the market, held nearly 31% share in the global market in the same year.

Volume-wise, the Contact Lens market is expected to rise to 2,135.0 mn units by 2024. TMR also estimates that the global contact lens market, which had a valuation of US$9.74 bn in 2015 in terms of revenue, is expected to expand at a 7.6% CAGR from 2016 through 2024, and rise to US$18.70 bn by 2024. Of the key technologies used for manufacturing contact lenses, the cast molding technology is presently the most preferred, accounting for a share of over 80% of the market’s overall revenues in 2015.

Read Full Report: http://www.transparencymarketresearch.com/contact-lens-market.html

Rising Prevalence of Ophthalmic Disorders and Rising Popularity as Fashion Accessory Boost Global Sales of Contact Lenses

The vast rise in the world’s population that suffers from a variety of ophthalmic disorders has emerged as the primary growth driver of the global contact lens market lately. The rise in younger population with issues such as refractory errors and weakened eyesight have especially increased the global consumption of contact lenses, which are being increasingly preferred for their comfort, convenience, and aesthetics.

The easy availability of colored, disposable, and affordable varieties of contact lenses have also led to the vast rise in their usage as fashion accessories globally. Attempts made by contact lens manufacturers to educate masses about the proper and safe use of contact lenses and the availability of vast product varieties across distant corners of the globe have also helped stimulate the growth of the global contact lens market in the past few years.

Concerns Regarding Damage from Careless Usage Continue to Limit Large-scale Adoption

Owing to the fact that contact lenses are worn directly on the cornea of the eye, they are required to be handled with exceptional care to prevent eye infections, ulcerations and other eye diseases. It is thus a widely known fact that careless handling or storage of contact lenses, or sleeping with the lenses on can have severe implications after the lenses are worn and remains a key challenge hindering the large-scale usage of contact lenses among skeptical consumers.

Along with this, the fact that practitioners are not well equipped to prescribe contact lenses in certain developing economies across regions such as Asia Pacific and Middle East also threatens to limit the overall growth prospects of the global contact lens market to a certain extent.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1787

Emerging Economies to Present Excellent Growth Opportunities

Nevertheless, the vast untapped opportunities in developing regions can allow vendors in the market to gain substantial traction in the next few years. Expansion across these regions will require innovative marketing strategies and ways of educating the masses about the proper usage of contact lenses will have to be adopted. Over the period between 2016 and 2024, the market for contact lenses in Asia Pacific is expected to expand at a considerable CAGR. The APAC market is expected to reach US$4.76 bn by 2024.

Prominent vendors in the market, including Novartis International AG, Menicon Group, STAAR Surgical, Carl Zeiss AG, SynergEyes Inc., Abbott Medical Optics, Inc., Essilor International S.A., Valeant Pharmaceuticals, and Bausch and Lomb have strengthened their hold in regional markets with these approaches. Strategies such as innovation and new product development, high investments in research and development, and exploitation of novel marketing and sales channels have also helped key companies hold sway in the market in the past years. Incorporation of new technologies for upgradation of products and strategic acquisitions entered-in with the aim of expanding product portfolios and market position across regional markets will help companies in beating competition in the next few years.

This review of the global contact lens market is based on a recent market research report published by Transparency Market Research, titled “Contact Lens Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

Contact Lens Market Driven Advancement in Medical Sciences to deal with Ophthalmological Diseases

The global market for contact lenses features a consolidated competitive landscape, with the top four companies, including Johnson & Johnson, The Cooper Companies, Alcona Inc. and Bausch and Lomb, accounting for a share of nearly 68% in the global market in 2015, states Transparency Market Research (TMR) in a new report. Johnson & Johnson, the largest vendor in the market, held nearly 31% share in the global market in the same year.

Volume-wise, the Contact Lens market is expected to rise to 2,135.0 mn units by 2024. TMR also estimates that the global contact lens market, which had a valuation of US$9.74 bn in 2015 in terms of revenue, is expected to expand at a 7.6% CAGR from 2016 through 2024, and rise to US$18.70 bn by 2024. Of the key technologies used for manufacturing contact lenses, the cast molding technology is presently the most preferred, accounting for a share of over 80% of the market’s overall revenues in 2015.

Rising Prevalence of Ophthalmic Disorders and Rising Popularity as Fashion Accessory Boost Global Sales of Contact Lenses

The vast rise in the world’s population that suffers from a variety of ophthalmic disorders has emerged as the primary growth driver of the global contact lens market lately. The rise in younger population with issues such as refractory errors and weakened eyesight have especially increased the global consumption of contact lenses, which are being increasingly preferred for their comfort, convenience, and aesthetics.

The easy availability of colored, disposable, and affordable varieties of contact lenses have also led to the vast rise in their usage as fashion accessories globally. Attempts made by contact lens manufacturers to educate masses about the proper and safe use of contact lenses and the availability of vast product varieties across distant corners of the globe have also helped stimulate the growth of the global contact lens market in the past few years.

Concerns Regarding Damage from Careless Usage Continue to Limit Large-scale Adoption

Owing to the fact that contact lenses are worn directly on the cornea of the eye, they are required to be handled with exceptional care to prevent eye infections, ulcerations and other eye diseases. It is thus a widely known fact that careless handling or storage of contact lenses, or sleeping with the lenses on can have severe implications after the lenses are worn and remains a key challenge hindering the large-scale usage of contact lenses among skeptical consumers.

Along with this, the fact that practitioners are not well equipped to prescribe contact lenses in certain developing economies across regions such as Asia Pacific and Middle East also threatens to limit the overall growth prospects of the global contact lens market to a certain extent.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1787

Emerging Economies to Present Excellent Growth Opportunities

Nevertheless, the vast untapped opportunities in developing regions can allow vendors in the market to gain substantial traction in the next few years. Expansion across these regions will require innovative marketing strategies and ways of educating the masses about the proper usage of contact lenses will have to be adopted. Over the period between 2016 and 2024, the market for contact lenses in Asia Pacific is expected to expand at a considerable CAGR. The APAC market is expected to reach US$4.76 bn by 2024.

Prominent vendors in the market, including Novartis International AG, Menicon Group, STAAR Surgical, Carl Zeiss AG, SynergEyes Inc., Abbott Medical Optics, Inc., Essilor International S.A., Valeant Pharmaceuticals, and Bausch and Lomb have strengthened their hold in regional markets with these approaches. Strategies such as innovation and new product development, high investments in research and development, and exploitation of novel marketing and sales channels have also helped key companies hold sway in the market in the past years. Incorporation of new technologies for upgradation of products and strategic acquisitions entered-in with the aim of expanding product portfolios and market position across regional markets will help companies in beating competition in the next few years.

This review of the global contact lens market is based on a recent market research report published by Transparency Market Research, titled “Contact Lens Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”