The global market for contact lenses grew from $18.7 billion in 2012 to $18.9 billion in 2013. This market is expected to reach $20.1 billion by 2018, a compound annual growth rate (CAGR) of 1.2% for the five-year period 2013 to 2018.
BCC Research's purpose in conducting this study is to provide an overview of the current and future characteristics of the global contact lens market. The key objective is to present a comprehensive analysis and future direction of contact lenses as an important tool for various ophthalmic needs.
This report explores present and future strategies within the contact lens market, which includes soft and rigid gas permeable contact lenses and several other types, which can be separated by design and by their usage. The setbacks and the needs of the market are discussed. The classifications, comparisons and usage of contact lenses are also portrayed in this report.
A detailed analysis of contact lens industry structure has been conducted. Revenues are broken down by region. Sales figures are estimated for the five-year period from 2013 through 2018.
The report also covers significant patents and their allotments in each category.
Broad research in the field of contact lenses has revealed that the market is rising with time in developed countries. Markets in developing countries are also showing progressive growth. Various age groups have now begun to explore the advantages of contact lenses. In addition, the market is undergoing significant transformations with respect to innovation, price and target. All these factors have altered the market approach and have led to the steady market for contact lenses.
R&D spending, along with increasing competition, patent expiries and new technologies, are taking it to a new direction. The advancements, new product launches and the changing lifestyle have influenced the market to grow in the near future.
Acquisition strategies and collaborations by companies are also covered in this report. This study also discusses the strength and weaknesses of each type/ technology in light of the new technologies, growing competition and changing customer needs.
A team of professionals in the biotechnology industry carried out this study. The project manager is Shalini S. Dewan, who holds a master's degree in pharmaceutical chemistry and has over 14 years of industry experience. Among the research topics she has covered are studies on compounds of potential pharmaceutical interest, from ibuprofen to 2-naphthyl acetic acid. Shalini was awarded a Gold Medal by the Prime Minister of India for her work and has worked with top companies in India and in the U.S.
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