The new report by Expert Market Research titled, ‘Global Coloured Contact Lenses Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global coloured contact lenses market, assessing the market based on its segments like product types, materials, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 8.9%
The primary factor that is expected to propel the growth of the global coloured contact lenses market in the forecast period is the rising number of eye disorder cases. The growing modernisation in the production of coloured contact lenses during the historical period has increased the use of several resources for producing coloured contact lenses that serve numerous purposes. Hypermetropia, astigmatism, presbyopia, and glaucoma are among some of the conditions that can be treated using contact lenses. Furthermore, the growing trend of coloured contact lenses over spectacles and the increase in the need for better facial aesthetics amongst the youth and the entertainment industry are further anticipated to propel the growth of the coloured contact lenses market.
Industry Definition and Major Segments
To treat nearsightedness, farsightedness, or astigmatism, coloured contact lenses are available with or without lens power. The best-coloured contacts make it simple to change the colour of the eyes by using different contact lenses, according to their preference.
By product type, the market is segmented into:
• Soft Contact Lenses
• RGB Lenses
• Hybrid Lenses
Based on material, the market is divided into:
The several distribution channels of the market are:
• Optical Stores
• Online Stores
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growing influence of social media and the rise in the number of players offering economic value to these products will further provide potential opportunities for the growth of the global coloured contact lenses market in the coming years. Along with this, the increasing adoption of branded cosmetic contact lenses is further estimated to propel the growth of the coloured contact lenses market. The major youth population across the globe is inclined toward using coloured contact lenses instead of spectacles to improve their facial aesthetics is also bolstering the growth of the market. The increasing use of the product in the makeup industry has also been adding significantly to the growth of the market.
Key Market Players
The major players in the market are Johnson and Johnson Services Inc., Bausch & Lomb Pvt Ltd., Alcon Inc., Qualimed SRL, and CooperVision Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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