Next Generation Contact Lenses Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Contact lenses are very thin lenses which are placed directly on the surface of eye. These contact lenses are ocular prosthetic devices and are worn for various purposes such as, correcting vision, therapeutic and for cosmetic purpose. The next generation contact lenses have some novel approches for drug elution, biocompatibility and improved drug release pattern. Some of the modern approches in next generation contact lenses are, microneedle, nanowafer contact lenses and ocular patches.

MARKET SCOPE

The Global Next Generation Contact Lenses Market Analysis to 2031 is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the next generation contact lenses market with detailed market segmentation by type and application. The report provides key statistics on the market status of the leading next generation contact lenses market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type the market is segmented as, soft contact lenses, rigid gas permeable lenses, hybrid contact lenses, drug eluting contact lense.
  
•   Based on application the market is segmented as, therapeutic, drug delivery and diagnostic/ monitoring.
  

MARKET DYNAMICS

Drivers:

•   Increasing prevalence of ocular disorders is the key driving factor for the market growth.
  
•   Growing adoption of contact lenses because of benefits provided by them.
  
•   Rising disposable incomes of people, increased trend of wearing contact lenses as a cosmetic are also expected to spur the market growth.
  
•   Technological advancements in healthcare sector.
  

Restraints:

•   However, high cost of next generation contact lenses and lack of awareness about such lenses in developing nations are likely to restrain market growth during the forecast period.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The next generation contact lenses market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the next generation contact lenses market in these regions.

IMPACT OF COVID-19 ON NEXT GENERATION CONTACT LENSES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the next generation contact lenses market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from next generation contact lenses market are anticipated to lucrative growth opportunities in the future with the rising demand for Next generation contact lenses in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the next generation contact lenses market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   CooperVision
  
•   SynergEyes
  
•   Alcon Inc
  
•   Bausch and Lomb
  
•   Chromagen Europe BV
  
•   SENSIMED
  
•   Johnson and Johnson Vision
  
•   FishmanVision
  
•   Acuity Polymers, Inc
  
•   Menicon Co., Ltd
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Next Generation Contact Lenses Report Scope