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Last updated on April 19, 2014 at 8:32 EDT

Contact Lenses Market Expected to Reach USD 13.47 Billion Globally in 2019: Transparency Market Research

February 10, 2014

ALBANY, New York, February 10, 2014 /PRNewswire/ –

According to a new market report published by Transparency Market Research “Contact
Lens Market (Gas Permeable Contact Lens and Soft Contact Lens) – Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the global endocrine testing
market was valued at USD 6.81billion in 2012 and is estimated to reach a market worth
USD13.47 billion in 2019 at a CAGR of 10.3% from 2013 to 2019.

Browse Contact Lens Market Report with Full TOC at

http://www.transparencymarketresearch.com/contact-lens-market.html

Contact lens refers to a thin, curved lens or small prescription lens worn over the
cornea covering the surface of the eye. These lenses are used for refractive error
correction without affecting ocular health. Also, these lenses are used for cosmetic and
novelty purpose. For instance, a colored contact lens renders change or enhances the hue
of the eye. Also, costume lenses assist in creating some special effects similar to that
of the big screen. Contact lenses are available in varied forms designed to meet different
purposes and needs. Different shapes of lenses are used to correct different vision
problems such as spherical lenses that are small all-around aid in correcting
farsightedness and nearsightedness. Meanwhile, toric lenses that are heavy at the bottom
are used to correct astigmatism. As per the research study published by Contact Lens
Spectrum, around 125 million people wore contact lens globally and generated significant
sales revenue worldwide.

With the evolution of different types of contact lenses, a large number of options are
now available for the existing as well as new contact lens users. The soft contact lens
provides several advantages over the conventional rigid gas permeable contact lens. These
lenses are easy to adjust and are made up of soft and flexible plastics that allow oxygen
to pass through the cornea. Soft contact lenses also render high comfort as compared to
rigid gas permeable contact lenses. Owing to these factors, soft contact lenses are
estimated to record highest growth rate during the forecast period. On the other hand
rigid gas permeable lenses are durable, resistant to deposit buildup and are easy to
handle. However, the demand for the same is declining due to increasing preference for
various kinds of soft contact lenses such as daily disposable, extended wear and weekly
replacement contact lenses. Daily disposable and extended wear soft contact lenses markets
represent two of the largest markets of 2012. Manufacturers are now shifting their focus
towards introduction of high comfort soft contact lenses instead of hard contact lenses.
For Instance, Cooper Vision launched MyDay daily disposable contact lenses that render
high oxygen permeability and help in improving the lens surface wettability.

The usage of various designs differs from the type of vision correction. Spherical,
toric and multifocal contact lenses differ in their shapes and uses. These lenses are used
for refractive error correction (myopia, hyperopia and astigmatism). As per the data
published in International Agency for the Prevention of Blindness (IAPB), in 2010 it was
estimated that around 123 million people suffered from significant vision impairment due
to improper adoption of vision correction solutions. This has led to a rise in global
economic cost due to lost productivity accounting for approximately USD 202 billion. These
factors coupled with increasing adoption for cosmetic and aesthetic purposes are expected
to influence the growth of the contact lens market
[http://www.transparencymarketresearch.com/contact-lens-market.html ]. However, improper
usage of the contact lens can lead to severe eye infections such as dry eyes and
blindness, which are potential side effects of the contact lenses thatmay hamper the
adoption of contact lenses.

Contact lenses render wide range of uses major being cosmetic, therapeutic,
prosthetic, corrective lens and others. In addition, electroretinography lens and soft
bandage contact lens are used in specialist centers and to promote epithelial healing
processes respectively. Also, painted contact lenses, a type of cosmetic contact lens are
sold commercially to change pupil shape or iris color and manufactured to correct
refractive errors concurrently. Cosmetic, therapeutic accounted for the fastest growing
segments. While, corrective contact lenses currently account for the largest market share
owing to high preference and comfort levels. On the contrary high maintenance costs
coupled with increased risk of vision problems due to the deposition of lipids or proteins
and negligence of lens care might restrain the growth of the market.

At the regional level, North America and Europe were the largest markets in 2012
accounting for above 70% of the global contact lens market. This growth was attributed
towards increasing patient population suffering fromophthalmic disorders (myopia, diabetic
retinopathy and astigmatism).Asia-Pacific and Rest of the World (Row) regions are
estimated to grow rapidly during the forecast period, owing to large population base, huge
untapped potential, rise in disposable incomes and increased healthcare awareness. In
addition substantial investments being made by the major market players in these regions
will further boost the growth and uptake of contact lenses in these regions.

Global contact lens market is characterized by the presence of well-established as
well as emerging players. The major companies competing in this market are Johnson &
Johnson (ACUVUE brands), CIBA Vision (CIBA Vision Focus Dailies, CIBA Vision Freshlook),
Essilor International (ContinuVu Concentric Design, Scone Standard) Cooper Vision
(Biofinity Brands, Avira Brands) and others.

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The Global Contact Lensmarket is segmented as follows:

Contact Lens Market, by Design

        - Contact Lens Market, by Characteristics
             - Spherical Contact Lens
             - Toric Contact Lens
             - Gas-Permeable Contact Lens
             - Soft Contact Lens
        -
             - Daily Disposable
             - Weekly Replacement
             - Monthly Replacement
             - Extended Wear
             - Annual Replacement
             - Unplanned Replacement Schedule
        - Contact Lens Market, by Design
             - Spherical Contact Lens
             - Toric Contact Lens
             - Multifocal Contact Lens
             - Orthokeratology Contact Lens
        - Contact Lens Market, by Usage
             - Corrective Contact Lens
             - Therapeutic Contact Lens
             - Post-Operative Therapeutic Contact Lens
             - Cosmetic Contact Lens
             - Enhancement Tints
             - Opaque and Special Effect Contact Lens
             - Prosthetic Contact Lens
             - Computer Lens
             - D-Segment Contact Lens
             - Sports Lens
             - Custom-made Contact Lens
        - Contact Lens Market, by Geography
             - North America
             - Europe
             - Asia-Pacific
             - Rest of the World (RoW)

Browse all Medical Devices Market Research Reports Research Reports @

http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html

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research techniques in developing distinctive data sets and research material for business
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