Hydrogel contact lenses are usually soft silicon based contact lens made of flexible silicon or hydrogel material, allowing high oxygen exchange through cornea and air. Hydrogel contact lenses are made with the suitable hydrogel and silicone hydrogel constituents that allow significant amount of oxygen to pass through the lens material, thereby decreasing the risk of hypoxia conditions making cornea less susceptible to inflammation and infection.
All the hydrogel contact lenses are for short use that are discarded after using it for 5 or 10 days. Nevertheless, the risk of infection remains high while using the hydrogel contact lenses during the night. People affected with binocular vision irregularities such as amblyopia benefits from the use of hydrogel contact lenses.
Recent advancements in extended wear Hydrogel contact lenses is the development of prolonged use gas permeable lenses. Extended wear gas permeable lens offers reduced risk of dirt build up between space within eye and surface of lens.
As per the data from to center of disease control and prevention, in year 2016, approximately 42 million Americans ware using contact lenses and over 90% of adult population wore soft gel lenses. Hydrogel contact lenses requires professional care and regular monitoring and increases the risk of complications.
The significant factors driving the growth of the hydrogel contact lenses market include the rising number of eye disorder cases, additionally increasing popularity of hydrogel contact lenses over spectacles and the growing demand for better ocular aesthetics amongst the young population for better eye wear solutions is anticipate to boost the market for hydrogel contact lenses.
The increasing population pool of elderly people in anticipated to increase the demand for the hydrogel contact lenses market. Additionally the advancement in the hydrogel contact lenses offering increased permeability to the oxygen is anticipated to offer new growth opportunity for the hydrogel contact lenses market.
However, the rising number of imitation lenses in some developing countries in Asia pacific regions and the growing acceptance of iris corrective procedures such as Photorefractive Keratectomy and LASIK are some of the factors that are expected to restrict the growth of the global hydrogel contact lenses market.
The Hydrogel contact lenses market displays similar to perfect competition nature. Prominent players in the Hydrogel contact lenses market are largely working on development of advanced permeable hydrogel contact lenses. As per the data from WHO, cataract have high prevalence rate in developing countries primarily affecting 32 million people globally.
The increasing life expectancy, especially in the develop countries around the world is anticipated to grow substantially and projected to cater the increased demand by the increasing production ration of hydrogel contact lenses.
The manufacturer in the hydrogel contact lenses are contributing to the higher standards for the increased permeability and extended used of the hydrogel contact lenses. Manufacturers are expected to gain significant market share through acquisitions, new product launches, agreements and mergers.
Higher profit margins by the hydrogel contact lenses industry have led key players and vendors to expand their supply chain network and increase the products manufacturing rate. Some of the established players of Hydrogel contact lenses are Novartis and Johnson & Johnson.
The Global Hydrogel contact lenses market is segmented into the following regions - Europe, Latin America, North America, East Asia, South Asia, Middle East & Africa and the Oceania. North America is prominent regional market for hydrogel contact lenses due to high product adoption rate, wide range of products availability and high awareness about the ocular health in the region.
In East Asia, China is prominent Hydrogel contact lenses market due to widespread use of Hydrogel contact lenses additionally presence of manufacturing facilities. Latin America Hydrogel contact lenses market is anticipated to show lower growth rate owing to adoption of silicon based lens.
South Asia is anticipated to show noticeably high growth rate due to the expansion of advanced medical technologies in the region. Growth in Middle East and Africa is stagnant as lower penetration of the major players in the regions.
Examples of some of the key participants in the Hydrogel contact lenses market are Novartis, CooperVision, Bausch & Lomb, Heffington's Eye Care, Johnson & Johnson Vision Care Inc, and Alcon. Among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Based on product type Hydrogel contact lenses market is further segmented into:
Based on End User Hydrogel contact lenses market is further segmented into:
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Hydrogel Contact Lenses Market
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