COVID-19 Impacts: Contact Lenses Market Will Accelerate at a CAGR of over 6% through 2020-2024 | Demand for Disposable Contact Lenses to Boost Growth | Technavio

Technavio has been monitoring the contact lenses market and it is poised to grow by USD 4.55 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Contact Lenses Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

• At what rate is the market projected to grow during the forecast period 2020-2024?

• Growing at a CAGR of over 6%, the market growth will accelerate during the forecast period.

• What is the key factor driving the market?

• Demand for disposable contact lenses and the increasing adoption of advanced technologies are the key factors driving the market growth.

• Who are the top players in the market?

• Bausch Health Companies Inc., BenQ Materials Corp., Contamac Ltd., HOYA Corp., Johnson & Johnson Services Inc., Menicon Co. Ltd., Novartis AG, SEED Co. Ltd., The Cooper Companies Inc., and ZEISS Group are some of the major market participants.

• Which region is expected to hold the highest market share?

• North America

• What is the year-over-year growth rate of the global market?

• The year-over-year growth rate for 2020 is estimated at 5.44%.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Bausch Health Companies Inc., BenQ Materials Corp., Contamac Ltd., HOYA Corp., Johnson & Johnson Services Inc., Menicon Co. Ltd., Novartis AG, SEED Co. Ltd., The Cooper Companies Inc., and ZEISS Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Demand for disposable contact lenses has been instrumental in driving the growth of the market.

Contact Lenses Market 2020-2024: Segmentation

Contact Lenses Market is segmented as below:

• Product
  • Soft Lenses
  • Rigid Gas Permeable Lenses
  • Hybrid Lenses
• Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

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Contact Lenses Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our contact lenses market report covers the following areas:

• Contact Lenses Market size
• Contact Lenses Market trends
• Contact Lenses Market analysis

This study identifies the increasing adoption of advanced technologies as one of the prime reasons driving the contact lenses market growth during the next few years.

Contact Lenses Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the contact lenses market, including some of the vendors such as Bausch Health Companies Inc., BenQ Materials Corp., Contamac Ltd., HOYA Corp., Johnson & Johnson Services Inc., Menicon Co. Ltd., Novartis AG, SEED Co. Ltd., The Cooper Companies Inc., and ZEISS Group. Backed with competitive intelligence and benchmarking, our research reports on the contact lenses market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Contact Lenses Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist contact lenses market growth during the next five years
• Estimation of the contact lenses market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the contact lenses market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of contact lenses market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• 2.1 Preface
• 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

• Market segmentation by product
• Comparison by product
• Soft lenses - Market size and forecast 2019-2024
• Rigid gas permeable lenses - Market size and forecast 2019-2024
• Hybrid lenses - Market size and forecast 2019-2024
• Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Increasing adoption of advanced technologies in contact lenses
• Launch of new products
• Prevalence of acquisitions and partnerships

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Bausch Health Companies, Inc.
• BenQ Materials Corp.
• Contamac Ltd.
• HOYA Corp.
• Johnson & Johnson Services Inc.
• Menicon Co. Ltd.
• Novartis AG
• SEED Co. Ltd.
• The Cooper Companies Inc.
• ZEISS Group

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200805005491/en/