Press Releases

Global Market for Contact Lenses to Reach $20.1 Billion in 2018; Soft Lenses Moving At 1.2% CAGR

April 23, 2014

Wellesley, Mass., April 23, 2014 – BCC Research (www.bccresearch.com) reveals in its new report,CONTACT LENSES: TECHNOLOGIES AND GLOBAL MARKETS, the global market for contact lenses is expectedto grow to $20.1 billion by 2018, with a five-year compound annual growth rate (CAGR) of 1.2%. The soft-lens category, the largest and fastest growing segment overall, is growing at a 1.2% CAGR.

The contact lens market can be divided broadly between soft lenses, rigid permeable lenses and other lenses, including surgical, digital, and ocular drug delivery lenses. The Soft contact lens segment continues to dominate the marketplace and is expected to grow to nearly $14.4 billion by 2018.

The rigid and hybrid lens category has benefited from technological advancements and improvements in production, however, this segment is only expected to reach about $196 million by 2018, registering a CAGR of 1%.

"While 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," said BCC Research healthcare analyst Shalini Shahani Dewan. "An aging population, affordability, and increasing access to healthcare in this region are the major forces driving market."

CONTACT LENSES: TECHNOLOGIES AND GLOBAL MARKETS provides an overview of the global market for contact lenses, including soft, rigid, and hybrid lenses. It presents analyses of global market trends, with data from 2012 and 2013, and projections of CAGRs through 2018. The study includes an in-depth examination of changing dynamics and adoption trends affecting developing economies concerning market penetration in these areas, as well as a breakdown of the market and its products by purpose, usability, design, corrective nature, and other characteristics.

SAMPLE FIGURE
GLOBAL MARKET FOR CONTACT LENSES BY CHARACTERISTICS, 2011-2018
($ MILLIONS)
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Source: BCC Research

This report is intended for companies in the ophthalmology segment and those looking to enter the contact lens market.

Editors and reporters who wish to speak with the analyst, should contact Steven Cumming at steven.cumming@bccresearch.com.

Contact Lenses: Technologies and Global Markets( HLC096B )
Publish Date: Mar 2014    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.