Transparency Market Research Report Added "Contact Lens Market" to its database.
Albany, NY -- (SBWIRE) -- 01/09/2017 -- Contact lenses are used primarily to neutralize the refractive errors.These are medical devicesthat are used for correctingvision problems such as myopia, glaucoma, astigmatism and cataract. These lenses are seen as a convenient option for vision correction rather than costly laser procedures (such as LASIK, LASEK, etc.). Presently, most contact lenses are incorporated with silicon hydrogel material that offers more oxygen permeability over traditional hydrogel lenses. Mainly,contact lenses are divided into two types, namely, gas permeable and soft contact lenses.
Soft contact lenses are further segmented according to their wearing and replacement schedule into daily disposable, weekly replacement, extended wear, monthly replacement, annual replacement and unplanned replacement contact lenses. Contact lenses are also available based on different designs like multifocal, toric and spherical contact lenses.Transparency market research, a leading U.S. based market research firm analyzes the global market for contact lens and estimates a CAGR of 10.3% for the period 2013 to 2019.
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Rising prevalence of eye disorders and advent of new technology (i.e. introduction of better fitting and higher acuity lenses) will boost the market of contact lens during the forecast period. In addition, the growth of this market is also facilitated by the conversion to higher value specialty lens like daily disposable lenses, soft toric lenses for low amount of astigmatism and D segment contact lenses for reading purpose. Another factor that may impact the contact lens market are the increasing efforts towards advertising and marketing by contact lens manufacturers.
However, side effects and discomfort related to contact lenses are two major reasons for the low adoption rate of contact lenses globally. Redness of eye, scratch on cornea and allergic reactions are some of the complications identified after excessive use of contact lenses. In addition, poor lens care may deposit foreign material (such as proteins, lipids and calcium) on the lens surface that increases the chances of eye infections. According to the U.S. Centers for Disease Control and Prevention (CDC), about 85% cases of keratitis (inflammation of cornea) occursbecause the use of contact lenses.
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Daily disposable contact lenses are less prone to side effects such as allergic reactions and redness of eye as compared to extended wear contact lenses. The majority of complications encountered with daily wear contact lenses are manageable by discontinuing their use. Increased research and development initiatives by key manufacturers of this market has helped them come up with comfortable lenses which in turn increases the uptake of contact lenses globally.
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