Growing Incidence of Vision Related Disorders Drives Demand for Contact Lenses and Solutions, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) June 30, 2014 -- Follow us on LinkedIn - Eyesight of people constantly changes with progression of age, with eye lenses thickening, losing flexibility which gradually results in visual disability thus benefiting the eyewear market. Contact lenses are primarily used for addressing conditions such as presbyopia, astigmatism, hyperopia, and myopia and are sometimes considered to offer better vision quality than spectacles. The growing importance shed on personal image, appearance and style has been a major factor driving growth in the contact lenses market. Further, rising incidence of vision related disorders, increasing awareness over eye health, convenience benefits, and favourable demographics represent other factors underpinning market growth. Rapid expansion in wearer base, reducing age of contact lens users, strong growth in specialty lenses and advances in material science are boosting sales worldwide.
Soft contact lenses remains the largest market segment, buoyed by the brisk rate of adoption of disposable and specialty lenses across the world. Driven by the need for better ocular health and increased flexibility and comfort, consumers are increasingly moving to disposable lenses, especially daily disposable lens which can be frequently replaced. Specialty lenses are also witnessing an expansion in wearer base supported by the high prevalence of astigmatism and presbyopia. Silicone hydrogel lenses are gaining momentum in the market as they improve ocular health by offering a higher dose of oxygen to the front surface of the eye. Water gradient has emerged as the latest technology in the daily disposables market. Despite sales tapering off, rigid gas permeable lenses are expected to continue to be used by a niche market of customers demanding high visual acuity.
Growing demand for cosmetic contact lenses that not only add to physical attractiveness but also drastically change natural facial appearance is also aiding market growth. Demand for lens care solutions is registering modest growth encouraged by the adoption of multi-purpose solutions and development of solutions that help keep lens moist. While chemical care systems are still widely being used, hydrogen peroxide based systems are increasingly gaining popularity.
As stated by the new market research report on Contact Lenses and Solutions, the United States represents the largest market, while Asia-Pacific is forecast to emerge as the fastest growing market worldwide with a CAGR of 10.1% over the analysis period. Asia is home to more than half of the world’s population, with several Asian countries having a significant percentage of population afflicted by vision related problems. Markets in Asia-Pacific particularly hold good potential for lens care solutions, due to lesser penetration of disposable contact lenses and sizeable myopic population.
Major players covered in the report include Abbott Medical Optics Inc., Alcon Inc., Bausch + Lomb, CooperVision Inc., Ginko International Co. Ltd., and VISTAKON.
The research report titled “Contact Lenses and Solutions: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, issues, and strategic industry activities of companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, Taiwan and Rest of Asia-Pacific), Middle East, Latin America (Brazil and Rest of Latin America). The global and regional markets are also analyzed by product segments such as 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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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