September 9, 2019 by Steve Blade
The primary factors driving the colored contact lenses market include the rising number of eye disorder cases, increasing popularity of colored contact lenses over spectacles and the demand for better facial aesthetics amongst the youth and the entertainment industry. However, the rising number of counterfeit products in some developing countries in some regions and the increasing acceptance of corrective procedures such as LASIK and Photorefractive Keratectomy are some of the limiting factors that are expected to hinder the growth of the global Colored Contact Lenses Market
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The colored contact lenses allow its users to correct their eye anomalies and change the eye color to create a look that is subtle, bold or anywhere in between whether the users want to enhance their everyday look or decorate themselves for a special occasion. Colored contact lenses are available in both prescription and plano forms. Prescription colored contact lenses correct optical anomalies such as myopia (nearsightedness) and hyperopia (farsightedness), while completely changing the user’s eye color if desired. Plano colored contact lenses are used purely for decorative purposes to change the eye color without having any vision re-correction properties. The cost of colored contact lenses can be significantly more than that of normal contact lenses. Most of the colored contact lenses are designed to relate to the natural look of the iris, which is the colored part of the eye. Since the iris is made of colorful lines and shapes, some of the colored contact lenses feature radially arranged colored lines and shapes and a series of tiny dots to help the lenses look more natural on the eye. Colored contact lenses usually come in three kinds of tints, i.e., visibility tint, enhancement tint and opaque tint.
The global market for colored contact lenses is highly competitive with various players operating in the global space. The current use of various colored contact lenses is not just limited to the entertainment industry or the sports sector, it is being made easily available for the general public. Companies are expected to gain better market share through new product launches, acquisitions, mergers and agreements. Higher profit margins by the colored contact lenses industry have led manufacturers and vendors to improve their supply chain network and boost the products manufacturing. Some of the established players of Colored Contact Lenses are Johnson & Johnson, Novartis, and Valeant Pharmaceuticals
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Europe is expected to lead in the global colored contact lenses market owing to concentration of key market players in the region. The markets in Asia Pacific and Japan are expected to grow at significant CAGRs due to expansion of product offerings by key players. North America is expected to take second large share in the global colored contact lenses market throughout the forecast period due to well established healthcare sector, entertainment sector and the presence of various key market players in the region.
Examples of some of the major players in the global colored contact lenses market are Cooper Companies Johnson & Johnson, Novartis, Valeant, Carl Zeiss, Essilor, HOYA GROUP, UltraVision CLPL and Wesley Jessen. Technological advancement in already marketed products is the major trend emerging in the global colored contact lenses market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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