The report is titled ‘Corrective Contact Lenses Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Corrective Contact Lenses Market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market.
The global corrective contact lenses market in 2022 is estimated for more than US$ 9.0 Bn and expected to reach a value of US$ 14.9 Bn by 2030 with a significant CAGR of 6.6%.
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Corrective Contact Lenses Introduction
The corrective contact lenses market is rising steadily and the market potential is continuously on rising as the average is of corrective contact lens wearers is becoming lower to 15 years. The global market for corrective contact lenses has seen significant technological transformations in the last decade.
For instance, the introduction of orthokeratology is proving to be a significant milestone in corrective contact lenses market developments. Orthokeratology is a process that uses specially designed GP contact lenses to temporarily reshape the contour of the cornea to reduce myopia or nearsightedness.
Orthokeratology lens or corrective contact lens reshapes the cornea and thus reduce refractive or vision errors. Treatment with a corrective contact lens lasts for one to two weeks. The corrective contact lenses are worn at night for several days and nearsightedness is gradually reduced. Corrective contact lens is the largest product type segment in the global contact lenses market contributing approximately 44% of the total revenue share.
Corrective Contact Lenses Market Dynamics
The corrective contact lenses market report explains the changing consumer behavior and market dynamics that influence the penetration of these products. Increasing consumer demand for corrective contact lenses in urban areas for developing countries such as India, Brazil, and others.
The growing prevalence of visual inaccuracies is the primary factor driving the growth of the corrective contact lenses market. Moreover, the evolution of production technologies for corrective contact lenses is expected to further push the growth of the corrective contact lenses market.
Growing awareness through social media marketing and the popularity of branded retail outlets or online retailing are some other important factors driving the growth of the corrective contact lenses market. This is also helping manufacturers of contact lenses to target a large customer base.
Although the penetration of corrective contact lenses in emerging economies is growing over time, high pricing issues persist which limits the growth of global corrective contact lenses market.
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Corrective Contact Lenses Market Segmentation
The corrective contact lenses market is segmented on the basis of product type, design, distribution channels, and region.
On the basis of product type, the global corrective contact lenses market can be segmented into gas permeable lenses, soft contact lenses, and hybrid lenses.
On the basis of design, the global corrective contact lenses market can be segmented into Spherical lenses, multifocal lenses, toric lenses, and others.
Based on distribution channels global curative contact lenses market is segmented into contact lens clinics, online retailing channels, eye hospitals, and others.
The global corrective contact lenses market is expected to increase steadily over the forecast period owing to the increasing vision disabilities among the young generation, growing aesthetic and cosmetic values, and etc.
Corrective Contact Lenses Market Key Players
The corrective contact lenses market is consolidated and is mainly dominated by Novartis AG (Alcon), Johnson & Johnson, Cooper Vision, Bausch + Lomb, and Valeant Pharmaceuticals among others.
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