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Contact Lenses Market Set To Witness Explosive Growth by 2028 | Precision Business Insights

Global Contact Lenses Market By Product

Global Contact Lenses Market By Product

Global Contact Lenses Market By Regional Analysis

Global Contact Lenses Market By Regional Analysis

Uncorrected refractive problems are becoming a more common cause of vision impairment in developed countries.

LONDON , UNITED KINGDOM, June 28, 2022 / -- The contact lenses market size is valued at about USD 10,303.6 million in 2021 and is expected to witness a revenue of USD 14,790.7 million in 2028, with a CAGR of 5.3% over the forecast period. Contact lenses are a little round thin curve piece of transparent plastic placed on the surface of the eyes that is designed to suit the cornea and cure vision flaws or improve one's aesthetic attractiveness. Contact lenses are preferred by teenagers for their aesthetics, ease, and comfort, and their widespread availability in a range of hues has prompted their adoption as a fashion item among some of the young and middle-aged people.

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The Contact Lenses Market - Growth Factors
Anti-refractive and scratch-resistant contact lenses are being developed by contact lens manufacturers. Furthermore, these goods are gaining popularity because of their capacity to give ultraviolet protection, providing users with a high-quality therapeutic experience & comfort. As a result of these factors, there has been a noticeable increase in the use of contact lenses, which is helping to expand the market. The worldwide contact lens market is seeing sales opportunities as the trend of participation in outdoor activities grows. These products are increasingly being used for cosmetic and aesthetic purposes in addition to their traditional function as refractive lenses. As a result, the rise in the popularity of wearing contact lenses for cosmetic purposes is expected to increase market sales growth over the projection period.

The Contact Lenses Market – Segmentation
The Global Contact Lenses Market on the basis of Type, the market is segregated into Soft Lens, Hybrid Lens and Rigid Gas Permeable (RPG) Lens. On the basis of Design, the market is classified into Bifocal, Spherical, Multifocal, and Toric. On the basis of Usage, the market is divided into Weekly Disposable, Daily Disposable, Annual Disposable, and Monthly Disposable. On the basis of Product, the market is categorized into Therapeutic, Corrective, Cosmetic, Prosthetic. On the basis of Distribution Channel, the market is fragmented into Ophthalmic diagnoses center, Hospitals, and Others.

The Contact Lenses Market Trends:
• The use of contact lenses has increased as a result of increased product releases and developments.
Restraining factors of the Contact Lenses market:
• High research & development costs, as well as the increased price of contact lenses as well as a lack of awareness in developing countries, are projected to stymie industry expansion.

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The Contact Lenses Market –Regional Analysis
In 2021, North America held the largest share in the contact lens market, with a revenue share of 37.5 percent. The reason for this is a combination of variables, including the increasing number of patients with refractive defects and the market competitors' increased focus on strategic collaborative partnerships.

Impacts of the COVID-19 Pandemic on the Global Contact Lenses Market
With the emergence of the COVID-19 Pandemic, there were fewer eye care consultations, which had a detrimental impact on market growth. Furthermore, in the near future, the market may persist with a regular growth pace.

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Satya Prabhu
Precision Business Insights
+1 866-598-1553
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