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Global contact lens market: 9% CAGR between 2012-2016
Global Contact Lens Market 2012-2016 - a new market research report on 2014-03-05 08:57:02
The Global Contact Lens market is to grow at a CAGR of 8.6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing prevalence of eye disorders. The Global Contact Lens market has also been witnessing the increasing adoption of a product bundling strategy. However, increasing product recalls could pose a challenge to the growth of this market.

The Global Contact Lens Market is expected to grow rapidly during the forecast period. This is mainly because of the presence of certain emerging trends in the market. One of the key trends is the increasing awareness among patients about the use of contact lenses to correct eyesight disorders. Awareness programs are conducted by various governments, non-governmental organizations, and vendors. For instance,VISION 2020: The right to sight is a joint program of WHO and the International Agency for the Prevention of Blindness. It was conducted on a global scale to boost awareness among the general population and, consequently, increased the demand for vision care devices. Thus, the rising awareness in developing countries has increased the adoption of contact lenses.

The increasing use of contact lenses as a fashion statement is a major factor driving the Contact Lens Market. There is an emerging trend among teenagers as well as adults to wear fashionable and colored contact lenses. To capitalize on this demand, vendors are developing various types of colored contact lenses with additional features such as a teardrop effect and lenses that can project three shades of color. Further, the development of a special type of contact lens that can make a persons eyes look bigger and shinier has attracted a lot of attention.

The key vendors dominating this market space are Johnson and Johnson Vision Care Inc., Alcon Inc., CooperVision Inc., and Bausch & Lomb Inc. The other vendors mentioned in the report are Abbott Medical Optics Inc., Nypro Inc., All Pro Intraocular Lens Co. Ltd., Carl Zeiss AG, Contamac US, Eagle Optics Pvt. Ltd., Essilor International SA, GKB Rx Lens Pvt. Ltd., Hoya Corp., Hydrogel Vision Corp., IRIDEX Corp., Medennium Inc., Nidek Co. Ltd., Polymer Technology Corp., Star Surgical Co., SynergEyes Inc., and Wesley Jessen Visioncare Inc.

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