Contact Lenses Market By Material (Hydrogel, Polymers), By Distribution Channel (Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores), By Design (Spherical, Toric, Bifocal And Multifocal)

Ocean View, DE -- (SBWire) -- 06/19/2020 --Changing lifestyle patterns of the consumers coupled with emerging fashion trends to enhance the aesthetic appearance will positively influence global contact lenses market share in the coming years. Advancing technologies have helped develop innovative products such as colored and decorative lenses. Supporting product adoption are demographic factors such as increasing urbanization, aging population and the rise in cases of diabetes worldwide which cause eye problems.

A considerable increase in the number of visual alignments and chronic eye diseases across the globe is influencing consumers to adopt contact lenses in their daily lives. Cosmetic contact lenses are have gained widespread popularity over the years especially by the younger population.

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These are effective for changing eye color and appearance and are also widely used in several therapeutic applications like masking disfigured eyes. They are extensively used in the film and entertainment industry. Moreover, these may be available with corrective power or just for superficial purposes.

Contact Lenses Market: Booming e-commerce sector

Access to contact lens is a crucial factor impacting the demand and sales of the productions. The emergence of the e-commerce industry is a major factor supporting the sale of contact lenses on its platform. Many people in both developed and developing nations are switching to online shopping to meet their demands due to the wide availability of products at considerably lower prices.

Reportedly, during the fourth quarter of 2019, the total e-commerce sales recorded in the U.S. stood at USD 158 billion, showcasing a 2.6% increase from the third quarter. Many leading contact lens brands are allowing direct purchase from their website and other e-commerce companies like Amazon are also facilitating the indirect sale of the products on their website platform.

Increased demand for soft contact lenses

Soft contact lenses are increasingly being preferred as opposed to other types due to their permeability and oxygen adaptability. They are primarily made from soft and flexible plastics such as silicone hydrogel that renders improved comfort to eyes and facilitates easy adaptability.

These lenses are comparatively less sensitive to light as compared to hard lenses and RGP and may fit into the eyes comfortably without falling off, making them highly ideal for sports. Other advantages of soft contact lenses include stability, which does not deform cornea and takes less time for the user to get used to it.

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Emergence of smart contact lenses

Contact Lenses companies are constantly aiming at improving their product offerings with the changing consumer demands to attract potential customers along with maximizing its profits. Key market players include Bausch Health Companies, Hoya Corporation, Carl Zeiss Beteiligungs GmbH, Johnson & Johnson and Novartis AG, among various others.

Consumers across the globe are demanding products with superior quality which is stimulating companies to increasingly invest in the research and development of innovative smart lenses. Technological advancements have given rise to smart contact lens, which is a vision-based technology that lets the user explore virtual and augmented reality through camera technologies.

Japanese multinational conglomerate Sony Corporation has reportedly applied for a patent for a smart contact lens that carries the ability to convert eye movement into electric power which can be controlled through the blinking of the eyes.

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