Global Contact Lenses Market 2018-2024

Contact Lenses Market Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 20182024

Overview:

The contact lenses market is highly lucrative due to growing popularity of contact lenses and increasing number of eye disorders. Technological advancements in contact lenses and increasing acceptance of silicone hydrogel contact lenses are providing an opportunity for the market growth. However, complications associated with contact lenses and the availability of alternatives for contact lenses are hampering the market growth.
Contact lenses may appear to be a recent trend in the vision care market, but they are dated back to 1880 when the first contact lens was invented. The contact lens users count is significantly increasing due to the availability of technologically improved products and better comfort, which can be used for a long time with less requirement of management. Currently, close vision problems are just over presbyopia. The research done by CooperVision suggested that regular users of these digital devices complain about eye tiredness (75%) and dryness. Over 90% of grownups use digital devices for more than 2 hours every day, and almost 60% use them for over 5 hours a day.

Market Analysis:
The global contact lenses market is estimated to witness a CAGR of 6.4% during the forecast period 20182024. The market is analyzed based on four segments: products, designs, applications, and regions.

Regional Analysis:
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the leading region for the contact lenses market growth followed by Europe. Asia Pacific and RoW are set to be the emerging regions. India and China are set to be the most attractive destinations due to the largely untapped market.

Products Analysis:
Based on products, the market is segmented into soft lens, gas permeable lens, and hybrid lens. Soft lenses are further segmented into daily disposable, weekly disposable, monthly disposable, and annually disposable lenses. The market for daily disposable lenses is gaining importance in recent years and is expected to grow at the highest CAGR.

Design Analysis:
Based on the design of the lens, the market is segmented into spherical lens, toric lens, and multifocal lens. The spherical lenses segment held nearly half of the market share in 2017 and is expected to grow at a steady rate during the forecast period. The highest growth rate is supposed to be seen in the multifocal contact lenses segment as these lenses provide a dual vision for individuals.
Application Analysis: Based on applications of contact lenses, the market is segmented into corrective, therapeutic, cosmetic, and others. Corrective contact lenses held a significant market share in 2017.

Key Players:
Novartis AG, Cooper Companies (CooperVision), Johnson & Johnson, Valeant Pharmaceuticals International, Essilor International, Contamac Holdings Ltd., Carl Zeiss Meditec AG, Accu Lens, SynergEyes, and Hoya Corporation.

Competitive Analysis:
Business partnerships, mergers & acquisitions, and a multifaceted pipeline are the primary strategies of the market players. The Vision Care franchise attained revenue of $4.1 billion in 2017, a rise of 45.9% from 2016, due to the acquisition of Abbott Medical Optics (AMO). In August 2017, Carl Zeiss announced the acquisition of Veracity Innovations, LLC to continue to lead in advancing the digitalization of eye care. Various companies are concentrating on growing geographically. For instance, CooperVision recently launched MyDay Toric daily disposable contact lenses in the US.

Benefits:
The report provides complete details about the usage and adoption rate of contact lenses during the forecast period. With that, key stakeholders can know about the major trends, drivers, investments, and verticals along with the details of lenses available in the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

1 Industry Outlook 9
1.1 Industry Overview 9
1.2 Total Addressable Market 10
1.3 Industry Trends 11
2 Report Outline 13
2.1 Report Scope 13
2.2 Report Summary 13
2.3 Research Methodology 14
2.4 Report Assumptions 15
3 Market Snapshot 16
3.1 Market Definition Infoholic Research 16
3.2 Segmented Addressable Market (SAM) 16
3.3 Trends of Contact Lens Market 17
3.4 Related Markets 18
3.4.1 Opthalmic Drugs 18
4 Market Outline 20
4.1 Revolution of Contact Lenses 20
4.2 Market Segmentation 21
4.3 Porter 5(Five) Forces 21
4.4 PEST Analysis 22
5 Market Characteristics 24
5.1 Market Dynamics 24
5.1.1 Drivers 24
5.1.1.1 Increasing number of eye disorders 24
5.1.1.2 Increasing popularity of contact lenses 25
5.1.2 Opportunities 25
5.1.2.1 Technological advancement in the contact lenses 25
5.1.2.2 Increasing acceptance of silicone hydrogel contact lenses 26
5.1.3 Restraints 26
5.1.3.1 Complications associated with contact lenses 26
5.1.3.2 Availability of Alternatives for the Contact Lenses 27
5.1.4 DRO Impact Analysis 27
5.1.5 Key Stakeholders 28
6 Product Type: Market Size and Analysis 29
6.1 Overview 29
6.2 Soft Lens 30
6.2.1 Daily Disposable 31
6.2.2 Weekly Disposable 32
6.2.3 Monthly Disposable 33
6.2.4 Annually Disposable Contact Lenses 34
6.3 Gas Permeable lenses 35
6.4 Hybrid lens 36
7 Design Type: Market Size and Analysis 38
7.1 Overview 38
7.2 Spherical lens 39
7.3 Toric lens 39
7.4 Multifocal Lens 40
8 Product Type: Market Size and Analysis 42
8.1 Overview 42
8.2 Corrective Lens 43
8.3 Therapeutic Lenses 44
8.4 Cosmetic Lens 45
8.5 Others contact lenses 45
9 Regions: Market Size and Analysis 47
9.1 Overview 47
9.2 North America 49
9.2.1 Overview 49
9.2.2 United States 50
9.2.3 Canada 51
9.3 Europe 51
9.3.1 Overview 51
9.3.2 United Kingdom 53
9.3.3 Germany 53
9.3.4 France 53
9.4 APAC 54
9.4.1 Overview 54
9.4.2 India 55
9.4.3 China 55
9.4.4 Republic of Korea 55
9.5 Rest of the World 55
9.5.1 Overview 55
9.5.2 Middle East 56
9.5.3 Brazil 57
10 Competitive Landscape 58
11 Vendor Profiles 60
11.1 Novartis AG (Alcon & CIBA Vision) 60
11.1.1 Overview 60
11.1.2 Business Unit 66
11.1.3 Geographic Presence 67
11.1.4 Business Focus 68
11.1.5 SWOT Analysis 68
11.1.6 Business Strategy 69
11.2 Cooper Companies (CooperVision) 70
11.2.1 Overview 70
11.2.2 Business Unit 72
11.2.3 Geographic Presence 72
11.2.4 Business Focus 73
11.2.5 SWOT Analysis 73
11.2.6 Business Strategy 74
11.3 Johnson & Johnson 75
11.3.1 Overview 75
11.3.2 Business Units 79
11.3.3 Geographic Revenue 79
11.3.4 Business Focus 80
11.3.5 SWOT Analysis 81
11.3.6 Business Strategies 82
11.4 Valeant Pharmaceuticals International Inc. 82
11.4.1 Overview 82
11.4.2 Business Unit 85
11.4.3 Geographic Presence 86
11.4.4 Business Focus 86
11.4.5 SWOT Analysis 87
11.4.6 Business Strategy 87
12 Companies to Watch For 88
12.1 Essilor International 88
12.1.1 Overview 88
12.1.2 Highlights: 89
12.2 Contamac Holdings Limited 89
12.2.1 Overview 89
12.3 Carl Zeiss Meditec AG 90
12.3.1 Overview 90
12.4 Accu Lens 91
12.4.1 Overview 91
12.4.2 Highlights: 92
12.5 SynergEyes 92
12.5.1 Overview 92
12.6 Hoya Corporation 93
12.6.1 Overview 93
12.6.2 Highlights: 94
Annexure 96
Abbreviations 96


List Of Tables

Charts
TABLE 1 CONTACT LENS MARKET REVENUE BY PRODUCT TYPES, 20172024 ($MILLION) 29
TABLE 2 CONTACT LENS MARKET REVENUE BY PRODUCT TYPES, 20172024 ($MILLION) 38
TABLE 3 CONTACT LENS MARKET REVENUE BY PRODUCT TYPES, 20172024 ($MILLION) 42
TABLE 4 CONTACT LENSES MARKET REVENUE BY REGIONS, 20172024 ($MILLION) 48
TABLE 5 NOVARTIS AG: OFFERINGS 60
TABLE 6 NOVARTIS AG: RECENT DEVELOPMENTS 61
TABLE 7 COOPER COMPANIES INC: OFFERINGS 70
TABLE 8 COOPER COMPANIES INC: RECENT DEVELOPMENTS 70
TABLE 9 JOHNSON & JOHNSON: PRODUCT OFFERINGS 75
TABLE 10 JOHNSON & JOHNSON: RECENT DEVELOPMENTS 75
TABLE 11 VALEANT PHARMACEUTICALS INTERNATIONAL INC.: OFFERINGS 83
TABLE 12 VALEANT PHARMACEUTICALS INTERNATIONAL INC.: RECENT DEVELOPMENTS 83
TABLE 13 ESSILOR INTERNATIONAL: OVERVIEW 88
TABLE 14 ESSILOR INTERNATIONAL: RECENT DEVELOPMENTS 88
TABLE 15 CONTAMAC HOLDINGS LIMITED: RECENT DEVELOPMENTS 89
TABLE 16 CARL ZEISS MEDITEC AG: SNAPSHOT 90
TABLE 17 CARL ZEISS MEDITEC AG: RECENT DEVELOPMENTS 91
TABLE 18 ACCU LENS: OVERVIEW 91
TABLE 19 ACCU LENS: RECENT DEVELOPMENTS 92
TABLE 20 SYNERGEYES: RECENT DEVELOPMENTS 92
TABLE 21 SYNERGEYES: RECENT DEVELOPMENTS 93
TABLE 22 HOYA CORPORATORY: OVERVIEW 93
TABLE 23 HOYA CORPORATION: RECENT DEVELOPMENTS 94


List Of Figures


CHART 1 CAUSES OF SIGHT LOSS GLOBALLY 10
CHART 2 TOTAL PERCENTAGE OF PEOPLE WHO USE CONTACT LENSES AND GLASSES GLOBALLY 10
CHART 3 RESEARCH METHODOLOGY OF GLOBAL CONTACT LENSES MARKET 14
CHART 4 OVERVIEW OF GLOBAL CONTACT LENSES USER STATISTICS 16
CHART 5 GLOBAL CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 17
CHART 6 SEGMENTATION OF GLOBAL CONTACT LENSES MARKET 21
CHART 7 PORTER 5 FORCES OF CONTACT LENSES MARKET 21
CHART 8 PEST ANALYSIS OF CONTACT LENSES MARKET 22
CHART 9 MARKET DYNAMICS DRO ANALYSIS 24
CHART 10 GLOBAL BLIND PEOPLE STATISTICS 25
CHART 11 DRO IMPACT ANALYSIS OF GLOBAL CONTACT LENSES MARKET 27
CHART 12 KEY STAKEHOLDERS 28
CHART 13 CONTACT LENS MARKET BY PRODUCT TYPES SEGMENTATION, 2017 VS 2024 (%) 29
CHART 14 SOFT CONTACT LENS MARKET REVENUE, 2017-2024 ($MILLION) 30
CHART 15 SOFT CONTACT LENS MARKET REVENUE BY TYPES, 2017 & 2024 ($MILLION) 31
CHART 16 DAILY DISPOSABLE SOFT CONTACT LENS MARKET REVENUE, 2017-2024 ($MILLION) 31
CHART 17 WEEKLY DISPOSABLE CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 32
CHART 18 MONTHLY DISPOSABLE CONTACT LENS MARKET REVENUE, 2017-2024 ($MILLION) 33
CHART 19 ANNUAL DISPOSABLE CONTACT LENS MARKET REVENUE, 2017-2024 ($MILLION) 34
CHART 20 GAS PERMEABLE LENSES MARKET REVENUE, 2017-2024 ($MILLION) 35
CHART 21 HYBRIDE CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 37
CHART 22 CONTACT LENS MARKET BY DESIGN TYPES SEGMENTATION, 2017 VS 2024 (%) 38
CHART 23 SPHERICAL CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 39
CHART 24 TORIC LENS MARKET REVENUE, 2017-2024 ($MILLION) 40
CHART 25 MULTIFOCAL CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 41
CHART 26 CONTACT LENS MARKET BY PRODUCT TYPES SEGMENTATION, 2017 VS 2024 (%) 42
CHART 27 CORRECTIVE CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 43
CHART 28 THERAPEUTIC CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 44
CHART 29 COSMETIC CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 45
CHART 30 OTHER CONTACT LENSES MARKET REVENUE, 2017-2024 ($MILLION) 46
CHART 31 CONTACT LENSES MARKET BY REGIONAL SEGMENTATION, 2017 VS 2024 (%) 47
CHART 32 CONTACT LENSES MARKET BY REGIONAL SEGMENTATION, 2017 VS 2024 (%) 48
CHART 33 CONTACT LENSES MARKET REVENUE IN NORTH AMERICA, 2017-2024 ($MILLION) 49
CHART 34 NORTH AMERICAN CONTACT LENSES MARKET REVENUE BY COUNTRIES, 2018 (%) 50
CHART 35 CONTACT LENSES MARKET REVENUE IN THE EUROPE REGION, 20172023 ($MILLION) 51
CHART 36 EUROPE CONTACT LENSES MARKET REVENUE BY COUNTRIES, 2018 (%) 52
CHART 37 CONTACT LENSES MARKET REVENUE IN THE APAC REGION, 2017-2024 ($MILLION) 54
CHART 38 CONTACT LENSES MARKET REVENUE IN REST OF THE WORLD, 20172024 ($MILLION) 56
CHART 39 MARKET SHARE OF SOFT CONTACT LENSES 2017 (%) 58
CHART 40 NOVARTIS AG: OVERVIEW SNAPSHOT 66
CHART 41 NOVARTIS AG: BUSINESS UNITS 66
CHART 42 NOVARTIS GA: GEOGRAPHICAL PRESENCE 67
CHART 43 NOVARTIS AG: SWOT ANALYSIS 68
CHART 44 COOPER COMPANIES INC: OVERVIEW SNAPSHOT 71
CHART 45 COOPER COMPANIES INC: BUSINESS UNITS 72
CHART 46 COOPER COMPANIES INC: GEOGRAPHIC PRESENCE 72
CHART 47 COOPER COMPANIES INC: SWOT ANALYSIS 73
CHART 48 JOHNSON & JOHNSON: OVERVIEW SNAPSHOT 78
CHART 49 JOHNSON & JOHNSON: BUSINESS UNITS 79
CHART 50 JOHNSON & JOHNSON: GEOGRAPHIC REVENUE 79
CHART 51 JOHNSON & JOHNSON: SWOT ANALYSIS 81
CHART 52 VALEANT PHARMACEUTICALS INTERNATIONAL INC: OVERVIEW SNAPSHOT 84
CHART 53 VALEANT PHARMACEUTICALS INTERNATIONAL INC: BUSINESS UNITS 85
CHART 54 VALEANT PHARMACEUTICALS INTERNATIONAL INC.: GEOGRAPHICAL PRESENCE 86
CHART 55 VALEANT PHARMACEUTICALS INTERNATIONAL INC: SWOT ANALYSIS 87


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