Pune, India, Sep 29, 2022 (GLOBE NEWSWIRE) — The global colored contact lenses market size is expected to gain momentum owing to the increasing adoption of cosmetic lenses over the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled “Colored Contact Lenses Market, 2021-2028”. They are mainly used for aesthetic purposes and are available in a variety of colors and sizes. The demand for the product has increased due to the growing relevance of aesthetic value among the younger generation. The demand for the product is increasing significantly due to the growing effect of social media presence. Thanks to advances in technology, artificial lenses now look more natural.
- June 2019: Alcon has launched colored contact lenses called DAILES for its customers.
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|Forecast period||2022 to 2029|
|Historical data for||2018 to 2020|
What does the report offer?
Colored Contact Lenses consists of numerous sub-segments Identifies, describes and analyzes sales volume, value, market share, market competition landscape, SWOT analysis and manufacturers growth plans for upcoming years.
Drivers and Constraints-
Increase the number of eye disorders to stimulate growth
The growth of the global colored contact lenses market is expected to increase owing to the rising number of eye disorders over the projected period. Refractive errors, cataracts and eye problems are all conditions that can lead to visual impairment or blindness. An increase in smoking, ultraviolet exposure or natural factors are some of the causes of these diseases. One of the main causes for the growth of eye problems among young people is the increased use of digital gadgets such as game consoles, laptops and other electronic products.
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By product type, the market is segmented into soft contact lenses, RGB lenses, and hybrid lenses. Based on the material, the market is segregated into polymer and hydrogel. On the basis of end user, the market is fragmented into retail stores, online stores and others. Finally, by geography, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Market segmentation :
|colored contact lenses market Segmentation||By product type
|Per end user
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Increasing investments to foster growth in North America
North America is expected to hold the largest global colored contact lens market share during the forecast period. Rising product awareness, increased investment, and R&D activities are expected to fuel the market growth.
Europe is expected to hold a significant share of the market. This is due to favorable reimbursement policies, government initiatives and active government funding in the healthcare sector which is expected to drive the market in the region.
Impact of COVID-19-
Adverse Impact of Covid-19 on Market Growth
The impact of COVID-19 is expected to be felt most harshly in the consumer durables market due to the heavy reliance on imports by many global companies. Demand for colored contact lenses is declining as the COVID-19 pandemic reduces end-user demand for everyday packaging products around the world. COVID-19 has had a significant impact on industrial plants that are currently operating with a reduced team. At the same time, the global supply chain has slowed due to restrictions put in place by the government.
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Increase in the number of mergers to stimulate demand opportunities
New product launches, acquisitions, mergers and agreements are expected to help companies increase their market share. The higher profit margins in the colored contact lens industry have prompted manufacturers and suppliers to expand their supply networks and increase product production. Companies in the sector are constantly innovating and forming strategic alliances to maintain their market dominance.
List of Key Players Featured in Global Colored Contact Lenses Market:
- Johnson & Johnson Services
- Bausch & Lomb
- Innovision lens
- grand vision
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