Advanced Materials Industry Contact Lenses Market Analysis and Trends, 2024

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Contact Lenses Market Analysis, Size, Share, Growth, Regional
Outlook and Forecasts to 2024: Hexa Research
" The global contact lenses market reported revenues
exceeding USD 7 billion in 2013. The industry is
anticipated to expand at a CAGR more than 3.4% (in
volume terms) from 2016 to 2024."
High incidence of eye related disorders, such as myopia, astigmatism, and hypermetropia may drive the
global Contact Lenses Market during the forecast period (2016 to 2024). The industry was valued over USD 7
billion in 2013. In volume terms, it can grow at CAGR over 3.4% till 2024. Innovation plays a key role in
determining market success. Technological advancements in addition to the growing global population are also
a major market driver.
People these days are greatly inclined towards improving their physical appearances. Such a trend adds to the
overall demand for contact lenses. Contact lenses are used not only as a means to vision correction but also for
cosmetic purposes. Colored & costume lenses are examples of lenses that are used as fashion statements. Most
prefer contact lenses over spectacles for vision correction. However, popularity of LASIK and PRK surgeries may
hamper overall demand in the forthcoming years.
The global contact lenses market is segmented on the basis of products, design, usage, and geographies. Based
on products, the divisions are soft, hybrid, and RGP (rigid gas permeable). Soft contact lens es are further
categorized into daily, weekly, monthly, annual, extended wear, and unplanned replacement schedule. The
market for soft lenses is projected to expand at a CAGR more than 6.9% from 2016 to 2024. Factors fuelling this
market are rapid population growth and rising cases of presbyopia. Unlike RGP lenses, soft lenses provide
greater flexibility and comfort. They are used mostly for the rectification of ametropia.
Browse Details of Report @ https://www.hexaresearch.com/research-report/contact-lenses-industry
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