San Francisco, California, December 27, 2017: A recent market research report by TMR Research presents a thorough assessment of the global market for contact lenses. The report is titled “Contact Lenses Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.” The report states that the market will expand at a promising pace over the report’s forecast period, owing chiefly to the rising demand for specialty products such as corrective contact lenses. The availability of a variety of contact lenses at competitive prices and the rising global population of people affected by ophthalmic diseases such as weakened eyesight and refractory errors are also driving the market. Youngsters are the most lucrative demographic and is expected to remain so in the next few years as well.
The increased demand for contact lenses across the globe has fueled extensive research and development activities in the market and a number of cutting-edge products, featuring new technologies, have entered the market. A number of new companies have also ventured in the highly promising market. Companies are tapping growth opportunities in emerging economies by introducing lucrative offers and launching massive marketing strategies.
The demand for corrective contact lenses is presently high owing to their vast set of benefits including the treatment of visual conditions such as myopia, presbyopia, hypermetropia, and astigmatism. The demand for corrective contact lenses is expected to further rise in the next few years owing to rising consciousness among the global population regarding their aesthetic appearance. The increased aversion to spectacles among youngsters and middle-aged people could work in favor of the market for corrective contact lenses. Of the variety of lenses based on their make-up, the segment of soft lenses is expected to remain the most lucrative one over the report’s forecast period.
The market has witnessed the introduction of a variety of contact lenses, including the drug delivering varieties. Such innovative lenses are finding increased adoption across the globe and are expected to continue to find strong demand across a number of applications and diseases over the report’s forecast period.
The report covers the global contact lenses market across regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report states that the global contact lenses market acquired a large share in its revenue from sales across the North America market in 2016. The regional market is expected to continue to account for a significant share in the overall market over the forecast period, owing to the vast patient pool of several vision deficiencies and high disposable incomes. Presence of some of the leading manufacturers of contact lenses in the region could also work in favor of the market in the next few years.
The market could also witness highly promising growth opportunities in Asia Pacific over the report’s forecast period. The market in Asia Pacific will benefit from the presence of vast untapped growth opportunities, rising disposable incomes of the population, and the rising patient pool of several visual conditions.
The report also presents a comprehensive examination of the vendor landscape of the global contact lenses market. Along with business profiles of some of the leading vendors in the market, the report presents a complete account of the recent developments in the market. Some of the leading companies operating in the market are Alcona Inc., Johnson & Johnson, Bausch and Lomb, and the Cooper Companies.
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