The global contact lenses market is expected to be valued at more than USD 12 billion by 2020, with demand expected to reach over 1,100 million units in the same year. Increased demand for vision correction products is expected to drive the market over the forecast period.
Contact lenses have gained prominence for correcting visual inaccuracies and are increasingly rivaling spectacles for the same. They are used not only for correcting ophthalmic disorders such as astigmatism, myopia, and hypermetropia, but are also used in cosmetic applications to enhance aesthetic appearance. Increasing incidences of ophthalmic disorders in the wake of changing lifestyles and aging population have driven contact lenses market penetration. Surge in plano sunglasses demand has given rise to contact lenses adoption.
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Increasing instances of users opting for corrective refractive surgeries such as Photo Refractive Keratectomy (PRK) and Laser-Assisted in Situ Keratomileusis (LASIK) may hamper market growth to some extent. Lack of proper eye care and failure to follow replacement schedules may lead to disorders like contact lens-induced acute red eye (CLARE).
The contact lenses market is segregated into soft contact lenses; hard contact lenses (gas permeable (GP) and rigid gas permeable (RGP)); and hybrid lenses. Soft contact lenses are made up of materials such as hydrogel and silicone hydrogel. Silicone hydrogel lenses allow the passage of higher levels of oxygen to the cornea as compared to regular hydrogel. They increase the supply of oxygen, which benefits users who wear lenses while sleeping. Rigid gas permeable lenses are more durable as compared to their counterparts, and offer clearer and crisper vision. They are easier to handle and not prone to tearing. However, RGP...