Notes

World Contact Lenses Markets 2022-2027 Introduction of Hi-Tech Contact Lenses
The contact lenses market is expected to grow at a compound annual growth rate of 5.97% during the forecast period. Vision treatment in the global market is dependent on contact lenses. With the increasing use of contacts lenses that can correct multi-vision dysfunctions, such as myopia, hyperopia, astigmatism and presbyopia, is expected to boost the growth of the global market for contact lens. Worldwide demand is expected to rise due to the increasing popularity of colored contacts lenses within the fashion sector and also their aesthetic appeal.
PURPLE CONTACT LENSES
CONTACT LENSES MARKET SEGMENTATION
Contact lenses constructed of silicone hydrogel can benefit you because they can reduce the risk of a variety of factors, including red eyes, as well as blurred vision. Silicon hydrogel lenses have many advantageslike extended wear, continual wear improved comfort and performance.
The changes in our lifestyles, and environmental factorslike high UV exposure polluting, smoking, or others that lead to unhealthy lifestyles, could increase the incidence of eye disorders like cataracts, refractive errors and the glaucoma. A rise in diabetes population is also a factor in the increase in eye diseases including glaucoma, retinopathy, cataracts, and temporary blurring of the vision. These issues will all result in an increase in need for glasses that are corrective during the time frame forecast.
GEOGRAPHICAL OPEN

North America: North America is a major source of healthcare spending and it is an area that is considered attractive for contacts. Cosmetic contact lens usage within the US is also very high. Increased importance and recognition of aesthetic appearances in the US is the primary reason for this.
APAC: APAC was responsible for more than 30% of total market share for contact lenses by 2021. APAC is the second largest market player in the market. Japan has 27% of the APAC market share in contact lenses. What's unique is that it's against the law for eye doctors to market or sell contact lenses. Numerous doctors own retail stores for contact lenses. Therefore, doctors play a crucial role in influencing the pricing of products.
KEY HIGHLIGHTS
Technological advances in the manufacturing procedure of this product have led to growth in the market. CooperVision, for example, is collaborating and the Plastic Bank in attempt to make a "plastic-neutral" contact lens. CooperVision, one of the key players, is taking the initiative to produce recycled material-based contact lenses in the market.
It is becoming increasingly common for people to wear contact lenses. who suffer from visual impairment, which will increase further throughout the forecasted time. The increasing target market in the market for contact lenses due to myopia, the increasing number of elderly people, and the rising preference to use contact lenses instead of prescription spectacles are expected to propel the market for a while.
NEW DEVELOPMENTS
Alcon has grown the range of contact lenses available in Canada in 2020 by introducing of its PRECISION1 disposable silicone hydrogel lenses.
In April of this year, Johnson & Johnson Vision Care business segment has launched Acuvue Oasys with transitions. Its distinctive feature is that it contains transitions light intelligent technology. This device is designed to be able to respond quickly to the changing conditions of light as well as reduce exposure to harsh sunlight inside and outside.


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