Welcome!

News Feed Item

Contact Lenses Market Expected to Reach USD 13.47 Billion Globally in 2019: Transparency Market Research

ALBANY, New York, February 10, 2014 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Contact Lens Market (Gas Permeable Contact Lens and Soft Contact Lens) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global endocrine testing market was valued at USD 6.81billion in 2012 and is estimated to reach a market worth USD13.47 billion in 2019 at a CAGR of 10.3% from 2013 to 2019.

Browse Contact Lens Market Report with Full TOC at http://www.transparencymarketresearch.com/contact-lens-market.html

Contact lens refers to a thin, curved lens or small prescription lens worn over the cornea covering the surface of the eye. These lenses are used for refractive error correction without affecting ocular health. Also, these lenses are used for cosmetic and novelty purpose. For instance, a colored contact lens renders change or enhances the hue of the eye. Also, costume lenses assist in creating some special effects similar to that of the big screen. Contact lenses are available in varied forms designed to meet different purposes and needs. Different shapes of lenses are used to correct different vision problems such as spherical lenses that are small all-around aid in correcting farsightedness and nearsightedness. Meanwhile, toric lenses that are heavy at the bottom are used to correct astigmatism. As per the research study published by Contact Lens Spectrum, around 125 million people wore contact lens globally and generated significant sales revenue worldwide.

With the evolution of different types of contact lenses, a large number of options are now available for the existing as well as new contact lens users. The soft contact lens provides several advantages over the conventional rigid gas permeable contact lens. These lenses are easy to adjust and are made up of soft and flexible plastics that allow oxygen to pass through the cornea. Soft contact lenses also render high comfort as compared to rigid gas permeable contact lenses. Owing to these factors, soft contact lenses are estimated to record highest growth rate during the forecast period. On the other hand rigid gas permeable lenses are durable, resistant to deposit buildup and are easy to handle. However, the demand for the same is declining due to increasing preference for various kinds of soft contact lenses such as daily disposable, extended wear and weekly replacement contact lenses. Daily disposable and extended wear soft contact lenses markets represent two of the largest markets of 2012. Manufacturers are now shifting their focus towards introduction of high comfort soft contact lenses instead of hard contact lenses. For Instance, Cooper Vision launched MyDay daily disposable contact lenses that render high oxygen permeability and help in improving the lens surface wettability.

The usage of various designs differs from the type of vision correction. Spherical, toric and multifocal contact lenses differ in their shapes and uses. These lenses are used for refractive error correction (myopia, hyperopia and astigmatism). As per the data published in International Agency for the Prevention of Blindness (IAPB), in 2010 it was estimated that around 123 million people suffered from significant vision impairment due to improper adoption of vision correction solutions. This has led to a rise in global economic cost due to lost productivity accounting for approximately USD 202 billion. These factors coupled with increasing adoption for cosmetic and aesthetic purposes are expected to influence the growth of the contact lens market. However, improper usage of the contact lens can lead to severe eye infections such as dry eyes and blindness, which are potential side effects of the contact lenses thatmay hamper the adoption of contact lenses.

Contact lenses render wide range of uses major being cosmetic, therapeutic, prosthetic, corrective lens and others. In addition, electroretinography lens and soft bandage contact lens are used in specialist centers and to promote epithelial healing processes respectively. Also, painted contact lenses, a type of cosmetic contact lens are sold commercially to change pupil shape or iris color and manufactured to correct refractive errors concurrently. Cosmetic, therapeutic accounted for the fastest growing segments. While, corrective contact lenses currently account for the largest market share owing to high preference and comfort levels. On the contrary high maintenance costs coupled with increased risk of vision problems due to the deposition of lipids or proteins and negligence of lens care might restrain the growth of the market.

At the regional level, North America and Europe were the largest markets in 2012 accounting for above 70% of the global contact lens market. This growth was attributed towards increasing patient population suffering fromophthalmic disorders (myopia, diabetic retinopathy and astigmatism).Asia-Pacific and Rest of the World (Row) regions are estimated to grow rapidly during the forecast period, owing to large population base, huge untapped potential, rise in disposable incomes and increased healthcare awareness. In addition substantial investments being made by the major market players in these regions will further boost the growth and uptake of contact lenses in these regions.

Global contact lens market is characterized by the presence of well-established as well as emerging players. The major companies competing in this market are Johnson & Johnson (ACUVUE brands), CIBA Vision (CIBA Vision Focus Dailies, CIBA Vision Freshlook), Essilor International (ContinuVu Concentric Design, Scone Standard) Cooper Vision (Biofinity Brands, Avira Brands) and others.

Related & Recently Published Reports by Transparency Market Research

The Global Contact Lensmarket is segmented as follows:

Contact Lens Market, by Design

SOURCE http://www.transparencymarketresearch.com/

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...