NEW YORK, Oct. 20, 2021 /PRNewswire/ -- The ophthalmic lens market is expected to grow by USD 3.21 bn from 2020 to 2024, progressing at a CAGR of 4.12%, according to Technavio. The report offers an up-to-date analysis as well as exact growth variance and the Y-O-Y growth rate
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The increasing prevalence of refractive errors, technological advances in ophthalmic lenses, and initiatives to create awareness about benefits and advances in ophthalmic lenses will offer immense growth opportunities. However, the high cost of ophthalmic lenses, adoption of refractive vision correction surgeries, and stringent regulations will challenge the growth of the market participants.
Ophthalmic Lens Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the ophthalmic lens market, including Alcon Inc., Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica Group, HOYA Group, Johnson & Johnson, Nikon Corp., Novartis AG, SynergEyes Inc., and The Cooper Companies Inc. Backed with competitive intelligence and benchmarking, our research report on the ophthalmic lens market is designed to provide entry support, customer profile, and M&A as well as go-to-market strategy support.
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist ophthalmic lens market growth during the next five years
Estimation of the ophthalmic lens market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the ophthalmic lens market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of ophthalmic lens market vendors
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Ophthalmic Lens Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.12%
Market growth 2020-2024
USD 3.21 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
APAC at 43%
Key consumer countries
US, China, Germany, India, and France
Leading companies, competitive strategies, consumer engagement scope
Alcon Inc., Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica Group, HOYA Group, Johnson & Johnson, Nikon Corp., Novartis AG, SynergEyes Inc., and The Cooper Companies Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, future consumer dynamics, market condition analysis for the forecast period
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