Contact Lenses Market Report Research, Business Opportunity, Global Trend, Future Growth, Key Findings and Forecast to 2026
The global contact lenses market
size is projected to reach USD 12.05
billion by 2026, exhibiting a CAGR of 4.8% during the forecast period.
However, the market was worth USD 8.35
billion in 2018. This information is published in a recent report by Fortune Business Insights, titled, “Contact Lenses Market Size, Share &
Industry Analysis, By Modality (Reusable and Disposable), By Design (Toric,
Multi-Focal, and Spherical), By Distribution Channel (Retail Stores, Online
Stores, and Ophthalmologists), and Regional Forecast, 2019-2026.” As per
the report, rising per capita healthcare expenditure and increasing incidence
of astigmatism and myopia are expected to affect the market positively.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
Rising Prevalence of Ocular Disorders to Augment Market Growth
The World Health Organization (WHO)
stated that approximately 1.7 million people are affected by presbyopia and around
153 million people reside with uncorrected refractive errors around the world. A
rising prevalence of presbyopia worldwide is one of the main factors propeling
the contact lenses market growth in the coming years. Also, many people are
affected by ocular disorders, which in turn, is expected to boost growth of the
market.
Spherical Segment to Dominate the Market Backed by High Prescriptions
In terms of design, the market is
segregated into spherical, multifocal, and toric. Out of these, the spherical
segment had generated 65.8% contact lenses market share in 2018 and was in the
leading position. It occurred because these lenses are highly recommended by doctors
for correcting ocular disorders. The toric segment, on the other hand, is
anticipated to showcase considerable growth owing to its possession of numerous
advantages, such as greater lens-to-lens reproducibility, easier fitting
protocol, and better stabilization design. Lastly, the multifocal segment would
expand at faster pace in the near future due to growing awareness and
increasing new product launches.
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