Germany accounts for over 50% of the overall contact lenses market share in monthly disposable usage segment. More resistance to drying out relative to daily disposable segment and offers best value in price for the regular wearers which anticipated to provide lucrative opportunities for this segment’s growth.

Sellbyville, DE -- (SBWire) -- 11/01/2018 --GMI presents a most up-to-date research on "Contact Lenses Market – Global Industry Analysis, Size, Share, Products (Powdered, Granular), Growth Potential, Trends Statistics, Regional Outlook (U.S, Canada, Germany, UK, France, Spain, Italy, Switzerland, Nordic Countries, Belgium, Luxembourg, Ireland, Poland, Russia, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE, Egypt, Tunisia) and Forecast 2017 – 2024".

Contact Lenses Market size is estimated to exceed USD 18 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing popularity of contact lenses as a fashion accessory to provide aesthetic appearance, especially among youngsters is a key factor driving contact lenses industry growth. Ongoing technological advances in the product materials and capabilities along with rising trend of decorative or colored lenses will support product demand.

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Polymer material segment will observe gains at 2.9% up to 2024. Low material & fabrication cost and high impact resistance are key factors supporting the contact lenses industry growth. High optical quality, light weight and less resistant to shattering will provide the positive outlook to this segment's demand.

Online stores were valued at over USD 2 billion in 2016. Reduced overheads, lower promotion costs, expanded geographical reach, greater flexibility and increased visibility for the business are the key factors fueling contact lenses market growth from the distribution channel.

However, increasing acceptance of corrective procedures including, Photorefractive Keratectomy (PRK) & LASIK and ophthalmology devices are the major factors, hampering the contact lenses industry growth.

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Toric design lenses is expected to witness significant gains owing to increasing demand to reduce corneal astigmatism. This are also used by the surgeons to clear the patient's vision during
cataract surgery.

Prosthetic product accounted for more than 7% share in 2016. Improved appearance of eyes that have been disfigured due to birth defects, eye diseases or trauma is expected to product demand. For instance, 60% blindness cases among new born are caused by many inherited eye diseases including eye malformations, retinal degeneration, congenital glaucoma, congenital and cataracts.

North America contact lenses market was more than USD 2.5 billion in 2016. Requirement for safety policies due to presence of number of employees working in high accidentally prone areas will trigger the demand. Several R&D facilities are increasingly coming up in the region to boost the industry.

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Global contact lenses market share is consolidated in nature owing to strong dominance of few multinational players. Key industry manufacturers include Contamac, Essilor, Johnson & Johnson, Novartis and Valeant Pharmaceuticals.

Other prominent industry participants include Blanchard, Cooper Vision, Hoya, Conforma, Bausch & Lomb, Menicon, Zeiss International, UltraVision and Wesley Jessen. Manufacturers are likely to invest in new parameters and options within this lens modality with constantly changing consumer demand.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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