The global cosmetic contact lenses market is expected to grow at a CAGR of around 5% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global cosmetic contact lenses market, under its health and wellness portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Cooper Companies, Johnson & Johnson, Novartis, and Valeant.
According to Amber Chourasia, a lead analyst for health and wellness research at Technavio, “Among contact lenses, the demand for cosmetic contact lenses is high since they are more fashionable and comfortable, especially disposable lenses. Disposable lenses are more convenient than the regular contact lenses as there is minimal need for cleaning or storage. Besides, dust does not get trapped in these types of lenses, making them ideal for use even in dusty evironments.”
Contact lenses not only eliminate glare but are also more comfortable and fashionable to wear and carry around than glasses. Also, contact lenses provide better aesthetic appeal. Contact lenses, unlike glasses, are not distracting in any way and do not slip or steam up, apart from providing better aesthetic appeal. Advantages of contact lenses, including cosmetic variants, over spectacles are resulting in a steady rise in their demand.
Introduction of smart contact lenses
Smart contact lenses is an upcoming trend in the global cosmetic contact lens market. Smart contacts, which are generally colored, have witnessed a notable increase in research by companies such as Google and Samsung to develop breakthrough innovations. For example, Google Contact Lens, a smart contact lens project announced by Google in January 2014, aims to assist individuals with diabetes by constantly measuring the glucose levels in their tears. Such products will revolutionize the industry and create a new market segment within the contact lenses market, combining the electronics, healthcare, and communication sectors.
Introduction of antimicrobial contact lenses
With the gradual rise in the number of eye infections due to the use of contact lenses, including the cosmetic contact lens, researchers are working on the development of an antimicrobial coating on the surface of the contact lens to minimize the chances of infections. Though the risk of infection from an average pair of contact lens is extremely less, the use of an antimicrobial coating reduces this by a factor of four. The development of antimicrobial contact lenses is expected to propel their adoption rate among consumers across the globe, resulting in growth of the market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Cosmetic Contact Lens Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Non-surgical Cosmetic Procedures Market 2017-2021
- Global Topical Contraceptive Market 2017-2021
- Global Mouth Ulcer Market 2017-2021
To read more press releases – click here