Single Use Contact Lenses Market Overview
Single use contact lenses are used once and then thrown away, their introduction in mid of 1990's in the world market has brought an advancement in eye care. The Contact lens is a curved thin lens worn over the cornea which covers the surface of the eye. The purpose of this medical device is to correct some vision impairment without affecting ocular health as well as for cosmetic use.
The colored contact lenses allow correcting the vision and change in the appearance of the eye. There are different kinds of single-use contact lenses for various conditions like astigmatism which arises from the different curvature of the cornea, for myopia (near-sightedness), hyperopia (farsightedness) and presbyopia near vision impairment).
Cosmetic and aesthetic are the main reasons for the people who does not want to wear glasses and also some of the problems like aniseikonia and keratoconus are better corrected with single-use contact lenses then the glasses.
Single use contact lenses offer several advantages like no need of chemistry set of rinsing, cleaning, disinfecting, lubricating, and enzyme removal solutions, elimination of the deposition of lipid, calcium and protein and other forms on lenses. In single use contact lenses each time a new lens is inserted users comfort is enhanced through fresh dosing. Because of health and convenience benefits, single-use contact lenses are gaining in popularity among practitioners and consumers.
Single Use Contact Lenses Market: Drivers and Restraints
Revenue of Single use contact lenses market is expected to grow in upcoming period as they are very much comfortable, easy to handle and healthier to an eye which are the primary drivers for the single use contact lenses market. In WHO report, the uncorrected refractive error is most common cause of vision impairment and the second cause of blindness worldwide.
The increase in a rate of ophthalmologic and uncorrected refracted eye error as well as single contact lenses are made of the new materials and designs especially for disposability are expected to increase the single-use contact lenses market.
The high cost of single-use lenses over the lenses used for a longer period could be the primary restraint in the single-use contact lenses market. Regular use of contact lenses may give rise to problems like corneal allergy, photophobia, and severe perilimbal infection is the challenges for the growth of single-use contact lenses market.
Single Use Contact Lenses Market: Segmentation
Single Use Contact Lenses Market: Overview
The single-use contact lenses market is expected to grow at healthy CGAR as U.S. Centers for Disease Control, and Prevention estimated that contact lens wearers are 40.9 million in the United States age 18 years and older, which is 16.7% of the U.S. adult population. Globally, approximately 282 million people suffer from visually impaired disorders, and about 80% of these people can be treated if they take preventive actions.
The use of single contact lenses is effective option for the treatment of these visually impaired diseases like ophthalmic diseases and disorders. Enhanced features of disposable contact lenses like an increase in water content in silicon hydrogel lenses have introduced high levels of comfort and surface lubricity.
These innovation coupled with health benefits and greater convenience will continue to pull contact lens market to a single-use contact lens, and single-use contact lenses market will share over 80% of worldwide contact lens market by 2020.
Single Use Contact Lenses Market: Region-wise Outlook
Globally, North America has the largest share in Single use contact lens market due to increase in ophthalmological patients and the rise in ophthalmic issues among the adults which have led to the increase in demands for contact lenses and well-built health care infrastructure.
Europe shares the second largest market in single-use contact lenses and will show lucrative growth due to advancement in contact lenses technologies and rise in government funding for ophthalmic care.
Asia Pacific and the Middle East is expected to expand at considerable CAGR in forecast period due to high population base, rise in disposable income, increase in health care awareness by educating the masses about the proper usage of single-use contact lenses as well as penetration of modern technology in contact lenses. Also, investments being made by major vendors in these regions will propel the growth of the single use contact lenses market.
Single Use Contact Lenses Market: Key Market Participants
Some of the key players for the Single use contact lenses are Abbott Medical Optics, Inc., Alcon Inc., Bausch & Lomb, CIBA Vision Corporation, Contact Lens Portfolio, Cooper Vision Inc., Johnson and Johnson, Lens Care portfolio, Novartis International AG and others.
CIBA Vision Corporation
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 covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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 in-depth analysis of parent market trends, macro-economic 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.
Single Use Contact Lenses Market: Segmentation
The single-use contact lenses market is segmented by material type, product type, and distribution channel.
By material type
- Soft contact lenses
- Gas permeable lenses
By product type
- Sphere lenses
- Toric lenses
- Multifocal lenses
By distribution channel
- Hospital pharmacy
Frequently Asked Questions
The global contact lenses market reached a valuation of US$ 8.3 Bn in 2020.
The global contact lenses market grew at a sluggish 3.8% CAGR between 2014 and 2021.
Growing popularity of online stores, new product launches, and increasing mergers and acquisitions etc. are the key trends in the market.
Leading players operating in the global contact lenses market are CooperVision, Inc., Johnson & Johnson Vision Care, Inc., Hoya Vision Care Company, Alcon (Division of Novartis AG), Bausch & Lomb Incorporated.
The North America Contact lenses market is projected to grow at a 2.9% CAGR over the forecast period.
Leading players in the global contact lenses market are estimated to account for approximately ~10%-15% of the total market share.
The Europe contact lenses market is anticipated to expand at 3.9% CAGR over the forecast period.