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01 August 2022
Wilmington, Delaware, United States, July 13, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The market analysis of contact lenses revealed that rise in incidence of problems with vision and eye health has steered substantial revenue growth. In 2021 , the market of contact lenses was valued at USUSD 8.6 Bn. This is in response to the rise of myopia across the world. The market size for contact lens is projected to increase to US$14.5 billion by 2031. 14.5 billion by 2031. There are huge opportunities in the Asia Pacific as well as North America.
Users of contact lenses across the world, observed the analysts of the study of the contact lens market, have a tendency to seek out ease, comfort and effectiveness when it comes to meeting their needs. Top contact lenses aim to meet all of these requirements. It is important to note that people who participate in water sports or other aquatic pursuits appreciate these features. The result has led to contact design improvements, especially in toric lenses. The lenses are utilized to treat mild and moderate corneal astigmatism.
Contact lenses made of soft material are the most in demand and the leading manufacturers are looking to expand their selection of lenses. These lenses will likely generate income from the emphasis on personalization designed to satisfy individual requirements, as revealed by the research about the market for contact lens.
The Contact Lenses Market Research Study the key findings
Colored Contact Lenses
A wide-spread adoption of contact lenses to correct eye Diseases for generating revenue streams Increase in the amount of individuals, worldwide, affected by eye disease and disease has created an enormous profit-making opportunities for companies operating on the market for contact lenses. A high prevalence of vision impairment among adults has generated huge revenue streams. Contact lenses have proven to be highly effective at correcting these conditions.
High Prevalence of Age-related Diseases Provides awe-inspiring Avenues: The burden of eye disease caused by age is projected to grow dramatically in the coming decades. The reason for this is because of the numerous statistics released from the WHO and various other organizations around the world regarding the huge rise in the proportion of the elderly population of 50 and over by 2050. A rapidly growing population presents a vast latent demand, as the use of contact lenses has dramatically increased their lives quality. Industry players who are involved in the field of contact lens will be capable of making lots of money from myopia.
Contact Lenses Market: Key Drivers
Red Contact Lenses
Contact lens market has seen rapid growth thanks to an increase in the incidence of eye disease and vision impairment. There are various types of lenses that help to correct this condition.
As time has passed, the incidence of astigmatism has risen substantially, and it is anticipated to create new revenue streams for the market of contact lenses. Also, the prospects are in the ascendancy due to the rising use of contact lenses technology for therapeutics.
Contact Lenses Market: Regional Growth Dynamics
The size of the Asia Pacific contact lenses market will grow at a an impressive rate between 2022 and 2030. In the Asia Pacific region, the rising incidence of eye disorders and vision problems across all age groups will drive expansion of revenues. The opportunities for the regional market are being boosted due to rapid advancements in technology for contact lenses, particularly those in India, Japan and China.
The market in North America for contact lens is predicted to be a major share of sales worldwide during the forecast period. Given the enormous market, there are several opportunities within this market.