The contact lenses market will witness a healthy growth rate in the years to come to reach USD 16 billion by 2030. The key factors accountable for the development of the industry include a surge in the per capita income, growing older population with vision impairment, and surge in the incidence of eye injuries and ailments.
Daily-wear lenses were the leader of the industry in the past, and they will retain their position in the years to come, on the basis of usage. This is credited to their lower jeopardy of eye infections, improved comfort, and suitability of disposal.
The e-commerce category will witness the highest rate in the industry in the future, on the basis of distribution channel. This is credited to the lockdown compelling individuals to stay home and more convenience presented by online shopping platforms, for example doorstep delivery and e- payment.
Furthermore, interactive websites combined with AR tech help consumers check their appearances before they purchase the lens.
North America led the contact lenses market in the past as a result of the increasing elderly populace, accompanied by the snowballing incidence of vision ailments.
Furthermore, the inactive lifestyles of people have augmented the probability of them developing poor vision attributable to the widespread use of televisions, computers, and smartphones. Because of the aforesaid factors, the requirement for contact lenses is increasing.
Product launches and approvals is a key trend observed in the industry. Tech progressions in optometry have brought about a large number of product launches and approvals all mover the globe.
Daily-wear lenses led the industry in the past, and they will retain their position in the years to come, based on use. This is credited to their lower risk of infections in the eye, improved comfort, and suitability of disposal.
Spherical lenses led the market in the past, on the basis of design. This was majorly as a result of the preference for them amongst optometrists, besides patients, for treating vision impairment.
Furthermore, there is a increasing occurrence of vision-related ailments as a result of the growing screen time, driving the requirement for contact lenses.
People experience various stressors with growing age. Some are predominant across all age groups, while others are mainly predominant among the ageing, for example vision problems.
Also, elderly care is difficult and requires the usage of pioneering techs and therapies. The enormous evolution in R&D activities for an improved product for treating eye disorders has brought about the obtainability of improved contact lenses.
Because of the extensive care needed by the elder population, healthcare facilities are increasingly accepting tech sophisticated optometry solutions, therefore supporting the global contact lenses market progression.
The rising elderly population has a positive impact on. the demand for contact lenses in the world.