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Contact Lenses Market Dynamics and Outlook 2023-2030

Corrective lenses are lenses made specifically to match the wearer's vision defects. The purpose of the corrective lens is to improve or correct the vision of people with farsightedness (hyperopia), nearsightedness (myopia), presbyopia, and astigmatism.

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Contact Lenses Market Dynamics and Outlook 2023-2030

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  1. Contact Lenses Market|2023-2030 CONTACT LENSES MARKET IS SEGMENTED BY DESIGN (SPHERICAL CONTACT LENSES, TORIC CONTACT LENSES, MULTI-FOCAL CONTACT LENSES), BY USAGE (DAILY-USE, WEEKLY, MONTHLY), BY APPLICATION (CORRECTIVE, THERAPEUTIC, COSMETIC), BY DISTRIBUTION CHANNEL (RETAIL STORES, HOSPITALS AND CLINICS, ONLINE STORES), AND BY REGION (NORTH AMERICA, LATIN AMERICA, EUROPE, ASIA PACIFIC, MIDDLE EAST, AND AFRICA) – SIZE, SHARE OUTLOOK, AND OPPORTUNITY ANALYSIS, 2023- 2030. Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  2. Contact Lenses Market|2023-2030 The most recent DataM Intelligence report predicted that the worldwide Contact lenses market size was valued at US$ YY million in 2021 and is estimated to reach US$ XY million by 2029, growing at a CAGR of 4.2% during the forecast period (2023-2030). The increasing universality of myopia, the growing inclination for contact lenses over prescription eyeglasses, and the rising geriatric population globally drive the market growth. The ever-increasing number of outdoor exercises also pushes the contact lens market growth. Contact lenses are thin lenses deliberated to be placed on the eyes' surface for vision correction. These are either hard or soft, relying on the lenses' comfort, nature, and reusability. Also, in developed countries, consumers prefer using insurance policies and are inclined to spend more on vision care products. Further, consumers display brand loyalty and do not want to switch to competitors' products because of product affordability and relief provided by their regular brands. Contact Lenses MarketDynamics Drivers: The contact lens market is a dynamic industry influenced by various factors, including technological advancements, consumer preferences, and economic trends. Here are some of the main drivers of contact lenses market dynamics: Browse for Our Full report @ https://www.datamintelligence.com/research-report/contact-lenses-market Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  3. Contact Lenses Market|2023-2030 Technological advancements: Technology advancements have led to the development of new types of contact lenses that offer improved comfort, vision correction, and other benefits. For example, contact lenses are now designed to correct astigmatism, presbyopia, and other vision problems, as well as lenses that can change colour or protect against UV rays. Growing demand for convenience: Contact lenses are seen as a more convenient alternative to glasses for many people, especially those who lead active lifestyles or have jobs that require good vision. This has driven demand for daily disposable contact lenses, which are easy to use and require no cleaning or maintenance. Increasing prevalence of eye conditions: Eye conditions such as myopia, hyperopia, and astigmatism are becoming more common, which has increased the demand for vision correction products such as contact lenses. Aging population: As the population ages, conditions such as presbyopia (age-related loss of near vision) increase, which has driven demand for multifocal contact lenses that can correct both near and far vision. Online sales: The rise of e-commerce has made it easier for consumers to purchase contact lenses online, which has increased competition among manufacturers and retailers. Regulatory environment: The contact lens market is subject to strict regulations governing product safety, labelling, and marketing. Regulation changes can impact market dynamics by affecting the availability and pricing of products. Economic factors: Economic trends such as disposable income, consumer confidence, and healthcare spending can also impact the contact lenses market by influencing consumer behaviour and purchasing decisions • • • . • • • Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  4. Contact Lenses Market|2023-2030 Growing prevalence of myopia: Contact lenses correct vision defects such as myopia, hyperopia, astigmatism, and presbyopia. While their prevalence has risen globally, myopia is still the most common worldwide. • Opportunities: Potential of emerging markets With a vast population base, developing countries worldwide, including BRIC, Mexico, and South Africa, provide potential growth opportunities for contact lens manufacturers. More than half the world's population resides in India and China. The senior population is expected to increase from 548 million in 2019 to nearly 1.3 billion by 2050, driving the region's prevalence of age-related eye diseases. Raising awareness of eye disorders, changing lifestyles, growing per capita spending, and market saturation in developed economies also encourage market players to expand their presence in these emerging economies. Challenges: Shortage of ophthalmologists Although the demand for ophthalmologists has increased significantly-proportional, the growth in the global population- their number has not. This is particularly evident in developing countries. India, for example, has one ophthalmologist for every 90,000 people, while the US has a ratio of 1:15,800. The average number of ophthalmologists per million people varies with economic development, ranging from 9 per million in low-income countries to 79 per million in high-income countries. The global estimated mean for ophthalmologist density was 31.7 per million population. Only 13 countries have over 100 ophthalmologists per million people (Source: World Bank). Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  5. Contact Lenses Market|2023-2030 The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Contact Lenses Market globally. For instance, in January 2021, Alcon, the global leader in eye care dedicated to helping people see brilliantly, announced today the launch of DAILIES TOTAL for Astigmatism, the first and only Water Gradient contact lens for patients with astigmatism. Geographical Analysis: North America dominated the global contact lenses market in 2021 and is anticipated to maintain its dominance throughout the forecast period due to the increasing population suffering from visual ailments. Furthermore, rising awareness regarding vision correction solutions among people is expected to increase the market demand in the coming years. Moreover, as per the Centers for Disease Control and Prevention (CDC), around 45 million people in the U.S. wear contact lenses. The vast population wearing contact lenses and the increasing prevalence of vision-related diseases are expected to increase the market demand throughout the forecast period. The Asia Pacific's contact lenses market is anticipated to grow considerably throughout the forecast period due to the increasing geriatric population in countries like China and Japan and technological innovation. Furthermore, rising cases of visually related diseases are also expected to contribute the regional growth. Browse For Our Free Sample Request Report@ https://www.datamintelligence.com/download-sample/contact-lenses- market Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  6. Contact Lenses Market|2023-2030 Contact Lenses Market Segmentation Analysis: The global Contact Lenses Market is segmented by portability, power rating, operations and, region Based on Portability the market is segmented into: Based on power rating the market is segmented into: Portable • Stationary • 0-100 kva • Based on end-user the market is segmented into: 101-350 kva • Residential • Commercial • Industrial • 350-1000 kva • above 1000 kva • Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  7. Contact Lenses Market|2023-2030 Contact Lenses Market Segmentation Analysis: The contact lens market can be segmented based on Design, Usage, Application, Distribution Channel and Region By Design By Usage By Application By Distribution Channel By Region Spherical Contact Lenses Toric Contact Lenses Multi-Focal Contact Lenses Daily-Use Weekly Monthly Corrective Therapeutic Cosmetic Retail Stores Hospitals And Clinics Online Stores • • • • North America Latin America Europe Asia Pacific Middle East and Africa • • • • • • • • • • • • Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  8. Contact Lenses Market|2023-2030 Competitive Landscape: The contact lenses market is a moderately competitive presence of local and global companies. Some of the key players which are contributing to the growth of the market include Abbott Medical Optics Inc. Bausch Health Companies Inc. Contamac Essilor International SA Haohai Biological Technology Hoya Corporation Johnson & Johnson Polylite Sofclear Scrivens House Alcon Inc., among others. • • • • • • • • • • Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  9. Contact Lenses Market|2023-2030 Major Countries Focused: Major Countries Focused: Geographical Classification Geographical Classification • • • • • North America Europe South America Asia Pacific Middle East and Africa • • • • • • • • • • • United States Canada Brazil Spain Italy United Kingdom South Korea Russia China Japan Rest of the Countries Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  10. || About Us || DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world. We monitor and analyze the market by dissecting various market influencers, competitive intensity, innovations, trends, and emerging products. This aids us in providing a detailed scenario of the present and future of the market. Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

  11. || Contact Us || Contact Us: Sai Kiran DataM Intelligence 4Market Research LLP +1 877–441–4866 info@datamintelligence.com Follow Us on Copy Right: DataM Intelligence 4Market Research info@datamintelligence.com

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