Global Contact Lenses and Solutions Market to Exceed $11.7 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Contact Lenses and Solutions markets. The world market for contact lenses and solutions is projected to exceed $11.7 billion by the year 2015. This will primarily be driven by favorable demographics, continuing shift to high value disposable lenses, growing incidence of myopia, reduction in wearer dropouts, and expansion of less-developed markets. Rapid expansion of wearer base coupled with strong growth in specialty lens segment is boosting contact lens sales.

Contact Lenses and Solutions: A Global Strategic Business Report

Contact lenses and solutions market continues to exhibit favorable growth in regions across the world. On a high since the arrival of soft disposables, the market is well established in western countries, and is experiencing significant gains in emerging markets in developing economies. Increased exposure to computers is already having an impact on children, teenagers and adults alike with the incidence of myopia considerably evident among all age groups, which directly influences sales of soft lens. Among the ageing population, the risk of astigmatism and presbyopia is expected to drive growth for toric, bifocal, and multifocal lenses. The most rapid increase in sales for specialties is likely to take place in regions with concentrated elderly populace. Besides these, increased cosmetic appeal of lenses, and awareness of contact lens benefits would play a major role in market expansion.

Silicone hydrogel is currently the most popular material in the contact lens market. Over time, it is expected to replace the conventional materials used in contact lenses for both continuous and daily wear. While sales of silicone hydrogel lenses are continuing to increase worldwide, so are the studies researching different silicone hydrogel materials. Contact lens makers are increasingly recognizing the significance of higher oxygen permeability and water content. Indeed, most leading companies are patenting their own silicone hydrogel material to gain edge in the global market.

The United States dominates the world contact lenses and solutions market as stated by the new market research report on Contact Lenses and Solutions market. Though the number of contact lens wearers has remained steady over the previous few years, rapid transition towards disposable lenses and specialty lenses is expected to increase wearer base in the coming years. Currently, most contact lens wearers use full-time daily wear soft contact lenses with biweekly replacement lenses and monthly replacement lenses more popular than daily or other replacement schedule lenses in the US.

Asia-Pacific represents the fastest growing market for contact lenses and solutions. Key factors driving growth include affordability, greater convenience, increasing health awareness, and eye health benefits of contact lenses, among others. Despite, reusable or semi-soft contact lenses commanding higher usage than disposables, mainly due to larger long run costs associated with disposables, the demand for daily disposable lenses is growing in several Asian countries. Consumer awareness, though growing, is still low compared to developed markets such as the United States, Japan, and Europe.

Contact lenses and solutions is a highly consolidated market with a handful of players operating on a global basis. Four major players dominate the contact lens market, and among these only two operate in both contact lens and lens care solutions markets. Due to high degree of concentration, the share of these players has remained steady over the years and is unlikely to witness any significant change in future. Key players profiled in the report include Abbott Medical Optics Inc., Alcon Inc., Bausch & Lomb Inc., CIBA Vision Corp., CooperVision Inc., and Vistakon.

The report titled “Contact Lenses and Solutions: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, growth drivers, growth restraints, competitive scenario, regulatory standards, product launches/ approvals/ innovations, recent industry activity, and coverage on major global market participants. The study analyzes market data and analytics in terms of value sales for regions including The United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The Global, United States, Japan and Europe markets are further analyzed by the following segments – Contact Lenses (Rigid Gas Permeable and Soft Contact Lens (Spherical Lenses, Daily Disposable Lenses, Toric Lenses, Multifocals and Cosmetic Lenses) and Contact Lens Care Solutions, and the rest of the other markets by - Contact Lenses (Rigid Gas Permeable and Soft Contact Lens) and Contact Lens Care Solutions.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Contact_Lenses_and_Solutions_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com

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