Corrective Contact Lenses Market
Corrective Contact Lenses Market Overview
The report is titled as ‘Corrective Contact Lenses Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the corrective contact lenses market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The corrective contact lenses market is expected to grow at a significant rate in the near future.
The global corrective contact lenses market in 2020 is estimated for more than US$ 9.0 Bn and expected to reach a value of US$ 14.9 Bn by 2028 with a significant CAGR of 6.6%.
Corrective Contact Lenses Market Definition
The corrective contact lenses market is rising steadily and the market potential is continuously on rising as the average is of corrective contact lens wearers is becoming lower to 15 years. The global market for corrective contact lenses has seen significant technological transformations in the last decade.
For instance, the introduction of orthokeratology is proving to be a significant milestone in corrective contact lenses market developments. Orthokeratology is a process that uses specially designed GP contact lenses to temporarily reshape the contour of the cornea to reduce myopia or nearsightedness.
Orthokeratology lens or corrective contact lens reshapes the cornea and thus reduce refractive or vision errors. Treatment with a corrective contact lens lasts for one to two weeks. The corrective contact lenses are worn at night for several days and nearsightedness is gradually reduced. Corrective contact lens is the largest product type segment in the global contact lenses market contributing approximately 44% of the total revenue share.
Corrective Contact Lenses Market Dynamics
The corrective contact lenses market report explains the changing consumer behavior and market dynamics that influence the penetration of these products. Increasing consumer demand for corrective contact lenses in urban areas for developing countries such as India, Brazil, and others.
The growing prevalence of visual inaccuracies is the primary factor driving the growth of the corrective contact lenses market. Moreover, the evolution of production technologies for corrective contact lenses is expected to further push the growth of the corrective contact lenses market.
Growing awareness through social media marketing and the popularity of branded retail outlets or online retailing are some other important factors driving the growth of the corrective contact lenses market. This is also helping manufacturers of contact lenses to target a large customer base.
Although the penetration of corrective contact lenses in emerging economies is growing over time, high pricing issues persist which limits the growth of global corrective contact lenses market.
Corrective Contact Lenses Market Key Players
The corrective contact lenses market is consolidated and is mainly dominated by Novartis AG (Alcon), Johnson & Johnson, Cooper Vision, Bausch + Lomb, and Valeant Pharmaceuticals among others.
Corrective Contact Lenses Market Segmentation
The corrective contact lenses market is segmented on the basis of product type, design, distribution channels, and region.
On the basis of product type, the global corrective contact lenses market can be segmented into gas permeable lenses, soft contact lenses, and hybrid lenses.
On the basis of design, the global corrective contact lenses market can be segmented into Spherical lenses, multifocal lenses, toric lenses, and others.
Based on distribution channels global curative contact lenses market is segmented into contact lens clinics, online retailing channels, eye hospitals, and others.
The global corrective contact lenses market is expected to increase steadily over the forecast period owing to the increasing vision disabilities among the young generation, growing aesthetic and cosmetic values, and etc.
Corrective Contact Lenses Market Regional Overview & Analysis
On the basis of region, the global corrective contact lenses market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America corrective contact lenses market is expected to be the most dominating market throughout the forecast period due to the large consumer pool and awareness towards the use of the latest technologies such as Ortho-k. The presence of key market participants in Europe makes it the second most attractive market.
MMC Overview on Corrective Contact Lenses Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Corrective Contact Lenses market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
• New product designs and launches
• Current product compliance
• Reimbursement
• Concerns for use of Corrective Contact Lenses
• Advantages of Corrective Contact Lenses
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at a regional level and in major countries globally for providing regional insights into the product segment in the report. This helps our clients to make informed decisions.
A mix of the top-down and bottom-up approach is followed to arrive at and validate our market value estimations. For a product segment wherein one/two manufacturer(s) dominates the market, its product sales, previous growth rates, and market expansion plans are considered to generate market share in the global market.
1. Global Corrective Lenses Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Corrective Lenses Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Corrective Lenses Market Snapshot
2.4. Global Corrective Lenses Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Corrective Lenses Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Corrective Lenses Market, By Product Type
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Product Type
3.1.2. BPS Analysis, By Product Type
3.2. Market Revenue (US$Mn) Forecast, By Product Type
3.2.1. Gas Permeable Lenses
3.2.2. Soft Contact Lenses
3.2.3. Hybrid Lenses
3.3. Global Corrective Lenses Market Attractiveness Index, By Product Type
4. Global Corrective Lenses Market, By Design
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Design
4.1.2. BPS Analysis, By Design
4.2. Market Revenue (US$Mn) Forecast, By Design
4.2.1. Spherical Lenses
4.2.2. Multifocal Lenses
4.2.3. Toric Lenses
4.2.4. Others
4.3. Global Corrective Lenses Market Attractiveness Index, By Design
5. Global Corrective Lenses Market, By Distribution Channel
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Distribution Channel
5.1.2. BPS Analysis, By Distribution Channel
5.2. Market Revenue (US$Mn) Forecast, By Distribution Channel
5.2.1. Contact Lens Clinics
5.2.2. Online Retailing
5.2.3. Eye Hospitals
5.3. Global Corrective Lenses Market Attractiveness Index, By Distribution Channel
6. Global Corrective Lenses Market, By Region
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Region
6.1.2. BPS Analysis, By Region
6.2. Market Revenue (US$Mn) Forecast, By Region
6.2.1. North America
6.2.2. Latin America
6.2.3. Europe
6.2.4. Asia Pacific
6.2.5. Middle East and Africa
6.3. Global Corrective Lenses Market Attractiveness Index, By Region
7. North America Corrective Lenses Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market Revenue (US$Mn) Forecast, By Country
7.2.1. U.S. Corrective Lenses Market
7.2.2. Canada Corrective Lenses Market
7.3. North America Corrective Lenses Market, By Product Type
7.3.1. Spherical Lenses
7.3.2. Multifocal Lenses
7.3.3. Toric Lenses
7.3.4. Others
7.4. North America Corrective Lenses Market, By Distribution Channel
7.4.1. Contact Lens Clinics
7.4.2. Online Retailing
7.4.3. Eye Hospitals
7.5. North America Corrective Lenses Market Attractiveness Index
7.5.1. By Country
7.5.2. By Product Type
7.5.3. By Distribution Channel
8. Latin America Corrective Lenses Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market (US$Mn) Forecast, By Country
8.2.1. Brazil Corrective Lenses Market
8.2.2. Mexico Corrective Lenses Market
8.2.3. Argentina Corrective Lenses Market
8.2.4. Rest of Latin America Corrective Lenses Market
8.3. Latin America Corrective Lenses Market, By Product Type
8.3.1. Spherical Lenses
8.3.2. Multifocal Lenses
8.3.3. Toric Lenses
8.3.4. Others
8.4. Latin America Corrective Lenses Market, By Distribution Channel
8.4.1. Contact Lens Clinics
8.4.2. Online Retailing
8.4.3. Eye Hospitals
8.5. Latin America Corrective Lenses Market Attractiveness Index
8.5.1. By Country
8.5.2. By Product Type
8.5.3. By Distribution Channel
9. Europe Corrective Lenses Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) Forecast, By Country
9.2.1. U.K. Corrective Lenses Market
9.2.2. Germany Corrective Lenses Market
9.2.3. Italy Corrective Lenses Market
9.2.4. France Corrective Lenses Market
9.2.5. Spain Corrective Lenses Market
9.2.6. Russia Corrective Lenses Market
9.2.7. Poland Corrective Lenses Market
9.2.8. BENELUX Corrective Lenses Market
9.2.9. NORDIC Corrective Lenses Market
9.2.10. Rest of Europe Corrective Lenses Market
9.3. Europe Corrective Lenses Market, By Product Type
9.3.1. Spherical Lenses
9.3.2. Multifocal Lenses
9.3.3. Toric Lenses
9.3.4. Others
9.4. Europe Corrective Lenses Market, By Distribution Channel
9.4.1. Contact Lens Clinics
9.4.2. Online Retailing
9.4.3. Eye Hospitals
9.5. Europe Corrective Lenses Market Attractiveness Index
9.5.1. By Country
9.5.2. By Product Type
9.5.3. By Distribution Channel
10. Asia Pacific Corrective Lenses Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. China Corrective Lenses Market
10.2.2. India Corrective Lenses Market
10.2.3. Japan Corrective Lenses Market
10.2.4. Australia and New Zealand Corrective Lenses Market
10.2.5. South Korea Corrective Lenses Market
10.2.6. ASEAN Corrective Lenses Market
10.2.7. Rest of Asia Pacific Corrective Lenses Market
10.3. Asia Pacific Corrective Lenses Market, By Product Type
10.3.1. Spherical Lenses
10.3.2. Multifocal Lenses
10.3.3. Toric Lenses
10.3.4. Others
10.4. Asia Pacific Corrective Lenses Market, By Distribution Channel
10.4.1. Contact Lens Clinics
10.4.2. Online Retailing
10.4.3. Eye Hospitals
10.5. Asia Pacific Corrective Lenses Market Attractiveness Index
10.5.1. By Country
10.5.2. By Product Type
10.5.3. By Distribution Channel
11. Middle East Corrective Lenses Market, By Region, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. GCC Countries Corrective Lenses Market
11.2.2. Israel Corrective Lenses Market
11.2.3. Oman Corrective Lenses Market
11.2.4. Rest of Middle East Corrective Lenses Market
11.3. Middle East Corrective Lenses Market, By Product Type
11.3.1. Spherical Lenses
11.3.2. Multifocal Lenses
11.3.3. Toric Lenses
11.3.4. Others
11.4. Middle East Corrective Lenses Market, By Distribution Channel
11.4.1. Contact Lens Clinics
11.4.2. Online Retailing
11.4.3. Eye Hospitals
11.5. Middle East Corrective Lenses Market Attractiveness Index
11.5.1. By Country
11.5.2. By Product Type
11.5.3. By Distribution Channel
12. Africa Corrective Lenses Market, By Region, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. South Africa Corrective Lenses Market
12.2.2. Egypt Corrective Lenses Market
12.2.3. North Africa Corrective Lenses Market
12.2.4. Rest of Africa Corrective Lenses Market
12.3. Africa Corrective Lenses Market, By Product Type
12.3.1. Spherical Lenses
12.3.2. Multifocal Lenses
12.3.3. Toric Lenses
12.3.4. Others
12.4. Africa Corrective Lenses Market, By Distribution Channel
12.4.1. Contact Lens Clinics
12.4.2. Online Retailing
12.4.3. Eye Hospitals
12.5. Africa Corrective Lenses Market Attractiveness Index
12.5.1. By Country
12.5.2. By Product Type
12.5.3. By Distribution Channel
13. Recommendation
13.1. Market Strategy
14. Competitive Landscape
14.1. Competition Dashboard
14.2. List and Company Overview of Global Key Players
14.3. Company Profiles
14.3.1. Johnson & Johnson
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Product Portfolio
14.3.1.4. Key Developments
14.3.1.5. Business Strategies
14.3.2. Valeant Pharmaceuticals
14.3.3. Novartis AG (Alcon)
14.3.4. Cooper Vision
14.3.5. Bausch + Lomb
14.3.6. Carl Zeiss
14.3.7. Contamac
14.3.8. Essilor International
14.3.9. HOYA
14.3.10. Menicon
14.3.11. Shanghai Hydron Contact Lens Optics (Ginko International)
14.3.12. SynergEyes
14.3.13. UltraVision CLPL
15. Acronyms