Hydrogel Contact Lens Market - Global Analysis, Opportunities, Growth and Forecast 2019 – 2025

This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies

PUNE, INDIA, November 7, 2019 /EINPresswire.com/ -- Market Synopsis:

The latest report by LPI states that the global hydrogel contact lens market is estimated to grow well in the foreseeable future. The study also examines the different aspects of the market and its future projections in the global hydrogel contact lens market and inspects the various motivating and limiting factors influencing the market. Contact lenses are used for vision correction and aesthetic purposes to change the color or appearance of the eye. They can be made from hydrogel or silicone hydrogel. Contact lenses are continuously gaining importance and adoption due to high acceptance of various eye related disorders such as myopia, presbyopia, astigmatism, and other forms of vision disorders.

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Higher adoption of technology has given rise to various eye related health issues such as myopia which require vision correction and hence promote the global hydrogel contact lens market. Also, rising geriatric population gives rise to a demand for increased and improved health care facilities which also include treatment of eye health issues. There has also been an increase in the number of people who prefer contact lenses over prescription glasses which contributes majorly to the elevation of the global hydrogel contact lens market. The shortage of trained eye doctors and regulatory barriers in the market are some of the factors which hinder the market growth.

The following manufacturers are covered in this report

Novartis
CooperCompanies
Bausch Health
Johnson & Johnson
St.Shine Optical
Menicon
NEO Vision
Clearlab
Miacare

Market Segmentation:

The global hydrogel contact lens market is segmented on the basis of product type, model and application. The global hydrogel contact lens market is segmented on the basis of product type as spherical, toric and multifocal contact lenses. The global hydrogel contact lens market is also segmented on the basis of application as hospital, optical shop, online store and others. The global hydrogel contact lens market is also fragmented on the basis of model as daily wear, extended wear lenses and traditional contact lenses. Currently, the daily wear lenses occupy the largest segment in the market segmented by model.

Regional Analysis:

Regionally, the global hydrogel contact lens market is segmented as North America, Europe, Asia Pacific, Southeast Asia and Middle East. Currently, the North America market is the largest marketplace for the global hydrogel contact lens market. The factors that attribute to its majority stake in the market are rising prevalence of age-related eye diseases, increasing healthcare expenditure, and technological advancements in contact lens and related products. Also, the European market is expected to grow rapidly owing to the rising chronic eye health related concerns among the elevated geriatric population. The emerging economies such as the countries in Asia Pacific are also expected to improve their contribution to the market owing to rising population and increased reliance on electronic devices.

Industry News:

August 2019: Alcon has announced plans to launch its daily disposable contact lens in the US market made from a new material, silicone hydrogel comprising of 51% water, dubbed verofilcon A. These lenses also hold a permanent layer of moisture on their surface which are designed to support the eye’s tear film.

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