Global Corrective Contact Lenses Market 2017-2021
About Corrective Contact Lenses
Contact lenses are thin lenses placed directly on the surface of the eye to correct vision or for therapeutic purposes. They are also worn for cosmetic reasons, particularly to change eye color. Contact lenses can be rigid, soft, or hybrid in nature, depending on the composition of the materials used. Contact lenses are a replacement for corrective glasses due to their better esthetic and cosmetic appeal.
Technavio’s analysts forecast the global corrective contact lenses market to grow at a CAGR of 7.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global corrective contact lenses market for 2017-2021. To calculate the market size, the report considers sales and replacement demand.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Corrective Contact Lenses Market 2017-2021
Technavio recognizes the following companies as the key players in the global corrective contact lenses market: Cooper, Johnson & Johnson, Novartis, and Valeant Pharmaceuticals.
Other Prominent Vendors in the market are: Carl Zeiss, Contamac, Essilor International, HOYA, Menicon, Shanghai Hydron Contact Lens Optics (Ginko International), SynergEyes, and UltraVision CLPL.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological product innovations. The technology that goes into producing contact lenses has evolved over time and seen constant innovation over the past decade. Lenses were first produced with the molding process, followed by the lathe process.”
According to the report, one driver in the market is increasing awareness through social media marketing. The vendors in the market are focusing on targeting a larger market to maximize the sales. Various associations and distributors are creating awareness through the online channel among end-users. Marketing via social media is helping manufacturers reach out to a larger consumer pool and attract new consumers. An increase in the number of social media users worldwide is encouraging vendors to invest in social media marketing in order to increase sales and maximize profits.
Further, the report states that one challenge in the market is rise of alternatives and substitutes. The various drawbacks and limitations of contact lenses have led to users to seek better alternatives or substitutes to correct their vision. LASIK is a corrective eye surgery, where a flap of the corneal surface is raised, and a laser is used to remove a thin layer of the underlying tissue. This permanently corrects refractive errors and improves the person’s visual acuity. Another popular type of refractive surgery to correct myopia, hypermetropia, and astigmatism is photorefractive keratectomy (PRK).
Cooper, Johnson & Johnson, Novartis, Valeant Pharmaceuticals, Carl Zeiss, Contamac, Essilor International, HOYA, Menicon, Shanghai Hydron Contact Lens Optics (Ginko International), SynergEyes, and UltraVision CLPL.