Market Research Future (MRFR) says the contact lens market is expected to reach $12.33 billion by 2025

Market Research Future (MRFR) An extensive study of the contact lens market is expected to grow at a CAGR of 5.70% over the forecast period.The study further suggests that the market share could reach USD 12,330.46 million by 2025.

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Cheap colored contact lenses

Corrective contact lenses are very popular with consumers because of their ability to address refractive errors and improve vision defects such as astigmatism, myopia, hyperopia/hyperopia and presbyopia.Therefore, the rise in the global visual inaccuracy rate should ultimately boost the sales of corrective contact lenses and thus the market position.On top of that, the demand for soft contact lenses is also accelerating because these contact lenses contain soft, stretchy plastics such as silicone hydrogels that provide easy fit and comfort to the eye.In short, MRFR experts believe that increasing demand for corrective contact lenses and soft contact lenses is a huge opportunity for major brands in the global contact lens market.
Strong efforts related to R&D activities in optometry and optics can also contribute to the growth of the contact lens market.Some important advancements over the years have been the emergence of soft contact lenses combined with innovative technologies to improve quality and enhance attractiveness.Meanwhile, daily-disposable contact lenses are hugely popular among consumers and are touted as a huge business opportunity for the next few years.
Regarding wearing type, the global industry has considered disposable lenses, regular lenses, frequent replacement lenses, and daily disposable lenses.
Contact lenses are sold in various types, some of which are therapeutic lenses, beauty and lifestyle oriented lenses, and corrective lenses.The corrective lenses segment holds the highest share in the contact lens market with the largest share of 43.2%, as recorded in 2018.
Key segments in terms of materials include methacrylate hydrogel soft contact lenses, silicone hydrogel soft contact lenses, breathable contact lenses, and more.
Contact lenses come in a variety of designs, some of which include toric, spherical, multifocal, and more.
The U.S. is currently the global market leader thanks to encouraging sales of corrective contact lenses and impressive growth in eye-related diseases.Color/cosmetic lenses are particularly popular among young people in the region, significantly increasing market strength.In addition, companies and researchers are often exploring new manufacturing techniques for more product innovations alongside their extensive R&D activities.The highest market share for contact lenses is in the United States, thanks to the booming media and entertainment industry, which happens to be one of the largest end users.
The Asia-Pacific region will see the fastest progress in the next few years due to rising cases of eye diseases and a boom in tinted lenses.Furthermore, with numerous international multinational suppliers shifting their bases to emerging countries in the region, the contact lens market is highly likely to flourish in the future.
Neovision Co, Ltd, Hoya Corporation, Seed Co. Ltd, Menicon Co., Ltd, Johnson & Johnson Services Inc., St. Shine Optical Co., Ltd, Bausch Health, Camax Optical Corp., CooperVision Inc. (The Cooper Companies Inc.), Oculus Private Limited, Novartis AG are the most important developers of contact lenses highlighted in the MRFR study.
Most of these brands are trying to expand their global presence by emphasizing the introduction of cutting-edge products.These companies use competitive measures including collaborations, acquisitions, agreements, and collaborations to gain a higher commercial position in the global contact lens market.
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cheap colored contact lenses
For example, in January 2022, augmented reality contact lens maker Mojo Vision partnered with a number of fitness brands including Adidas to launch advanced data-tracking contact lenses in the consumer market.The company further announced a $45 million financing, bringing its total investment to approximately $205 million.The company’s eye-controlled smart contact lenses include a built-in display that monitors fitness-based data as well as AR graphics.
At Market Research Future (MRFR), we enable clients to unravel the complexities of various industries through our Cooked Research Reports (CRR), Half Cooked Research Reports (HCRR) and Advisory              Services.The highest goal of the MRFR team is to provide our clients with the highest quality market research and intelligence services.
Tags: Contact Lens Market Trends, Contact Lens Market Insights, Contact Lens Market Share, Contact Lens Market Size, Contact Lens Market Growth


Post time: Feb-17-2022