DUBLIN, April 28, 2022–(BUSINESS WIRE)–The “Disposable Contact Lenses Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.This study considers a detailed scenario of the present disposable contact lenses market and its market dynamics for the period 2022-2027.It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.The disposable contact lenses market is expected to grow at a CAGR of 9.27% during the forecast periodKey Highlights
- The paradigm shift towards premium-priced and cosmetic contact lenses is driving the industry. The lifestyle change increased the income of the people, primarily impacted the usage of regular disposable contact lenses.
- The rise in e-commerce as a preferred distribution channel also drives the daily disposable contact lens market. Online shopping gives consumers control over when and where they can shop. According to e-commerce statistics on omnichannel marketing, it is found that 43% of online shoppers bought in bed, 23% in the office, and 20% while in a car.
- New product approvals and launches also drive the daily wear contact lenses market. Increasing disposable contact lenses’ acceptance and penetration rate gives the industry and vendors new opportunities. Also, cosmetic lenses with new technology and colors give new trends in the market. From 2015 to 2020, most unique products came into the industry and drove vendors’ growth.
- High Acceptance of Daily Disposable Silicone Hydrogel Contact Lenses is also driving industry growth. Mostly silicon hydrogel-based daily disposable is used for eye care due to their effectiveness, easy handling procedure, and properties. Thus it is highly preferred by ophthalmologists, thus positively impacting the industry growth.
Story continuesMarket Segments
- Spherical disposable contact lenses dominated the segment as it is mostly used in the market, however the multifocal contact lenses is expected to grow at a faster CAGR of 12.35%.
- Retail optical stores accounted for the major share in the market, however the online stores have the highest CAGR of 12.33% in the market. Increased usage of cell phones, better discounts in the online platforms has increased the purchase of disposable contact lenses through the online platform.
- Silicone hydrogel material dominated the market and is expected to grow at a faster rate in the market. Due to its increased benefits to the end-users and more preference by the eyecare practitioners in the market.
- Daily disposable contact lenses dominated the market by usage. Due to its increased benefits like infection free, zero maintenance, the preference of daily disposables is increasing.
Geographical AnalysisNorth America dominated the market by geography; however, APAC is growing at a faster rate with CAGR of 9.84%. Due to increased adoption of daily disposable contact lenses among the developed countries.Segmentation by Geography
- North America
- US
- Canada
- APAC
- Japan
- China
- India
- South Korea
- Australia
- Europe
- Germany
- France
- United Kingdom
- Spain
- Italy
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- South Africa
- Saudi Arabia
- UAE
Market DynamicsOpportunities & Trends
- Shift to Premium & Cosmetic Contact Lenses
- Rise of E-Commerce as Preferred Distribution Channel
- New Product Approvals and Launches
Growth Enablers
- Target Population With Aged Patient Demography
- Acceptance of Daily Disposable Silicone Hydrogel Contact Lenses
- Product Innovation & Technological Developments
Restraints
- Complications Associated With Disposable Contact Lenses
- High Cost of Disposable Contact Lenses
- Low Acceptance of Vision Care in Low- & Middle-Income Countries
Vendor Analysis
- Vendors are strategizing on establishing long-term partnerships with suppliers and distributors to increase their sales volume and geographical reach.
- Most of the people choosing eyeglasses are due to their awareness and affordable price likewise, vendors can promote their products as per the country’s economic status.
Key Vendors
- Johnson & Johnson
- Bausch+Lomb
- Alcon
- Cooper Companies
Other Prominent VendorsFor more information about this report visit https://www.researchandmarkets.com/r/r0bx4jView source version on businesswire.com: https://www.businesswire.com/news/home/20220428005759/en/ContactsResearchAndMarkets.com
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