NEW YORK, Oct. 5, 2016 /PRNewswire/ -- This BCC Research report explores present and future strategies within the contact lens market, which includes soft contact lenses, rigid gas permeable lenses and other lenses such as hybrid lenses, advanced optics lenses and intraocular lenses. Sales figures are projected for the five-year period from 2015 through 2020.
Use this report to:
Analyze the strength and weaknesses of each type of lens in light of new technologies, growing competition, and changing consumer needs.
Identify the global market for contact lens products and an up-to-date review of al market segments with analysis by type, design, purpose, and application. Innovate within the market, along with its challenges and needs and study areas of market growth in the manufacture and use of contact lenses.
Identify overall market trends, product opportunities, emerging regional markets, merger and acquisition opportunities and insights.
The global market for contact lenses has grown to $9.4 billion in 2014 from $8.9 billion in 2013.
The market is expected to grow at a five-year compound annual growth rate (CAGR) of 1.9% from 2015 to 2020, increasing from $9.2 billion in 2015 to $10.1 billion in 2020.
Soft lenses segment of contact lenses market is the largest sector of the market.
The market is expected to grow from $6.8 billion in 2015 to $7.1 billion in 2020 at a CAGR of 0.8% for the period 2015-2020.
The rigid and hybrid lenses market is expected to grow from $302.8 million in 2015 to $466.1 million in 2020 at a CAGR of 9.0% for the period 2015-2020.
STUDY GOALS AND OBJECTIVES
Contact lenses provide glasses-free corrective vision for those with certain types of vision impairment. Over the last decade, the contact lens field has gone through a number of significant developments in lens characteristics, design and usage. BCC's goal in conducting this study is to provide an overview and comprehensive analysis of the current and predicted future direction of the global market for contact lenses as an important tool for vision correction. The report explores present and future strategies within the contact lens market, which includes soft contact lenses, rigid gas permeable lenses and other lenses such as hybrid lenses, advanced optics lenses and intraocular lenses. Innovations within the market, along with its challenges and needs, are discussed in this report along with the classifications, comparisons and usage of contact lenses. A detailed analysis of the contact lens industry structure has been conducted. Revenues are broken down by region and sales figures are projected for the five-year period from 2015 through 2020.
REASONS FOR DOING THIS STUDY
Contact lenses, also referred to as corrective lenses, are mainly used to correct myopia, hyperopia, astigmatism and presbyopia. North America is the largest market for corrective lenses. Corrective lenses are also used for various therapeutic applications, such as corneal reshaping, postsurgical conditions and dry eye syndrome. Extensive research on the contact lens market shows innovation and the development of efficient, user friendly and affordable products. These, coupled with the vision problems of an aging population, are the growth factors for the contact lens market. R&D spending along with increasing competition, patent expiries and new technologies are giving a new direction to the market. Advancements, new product launches and changing consumer lifestyles all will influence the market to grow in the future. This study looks at almost all the systems affected by these factors. Acquisition strategies and collaborations by companies are also covered. This study also discusses the strength and weaknesses of each type of lens in light of new technologies, growing competition, and changing consumer needs.
SCOPE OF THE STUDY
This report focuses on the global market for contact lens products and provides an up-to-date review of all market segments with analysis by type, design, purpose, and application. The report covers North America, Europe and emerging markets such as India, China, Japan, Korea, Taiwan, Africa, Australia and New Zealand. Regulatory environments, new products and advancements, market projections and market shares are analyzed. Also included in the report are relevant patent analyses and comprehensive profiles of the companies that lead the contact lens market. Abbott Medical Optics Inc., Alcon, Bausch + Lomb, CooperVision Inc. and Johnson & Johnson Vision Care Inc. dominate the market. These five largest players account for more than 85% of the global contact lens market.
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