Spherical contact lenses come in many materials and replacement schedules. They are designed to also correct myopia (nearsightedness) or hyperopia (farsightedness). The market for spherical contact lenses is highly fragmented and is anticipated to remain the choice of segment for market entry in case of most new companies. Spherical design is also more commonly prescribed among first time users in case of light vision correction and astigmatism. Broadly, the contact lens market can be divided into three major segments of material characteristics namely, Rigid Gas Permeable (RGP), Soft Lens made from a variety of advanced polymers and hybrid lens that are a mixture of both and/or completely different type of materials that exhibit properties of rigidity as well as providing high degree of comfort. Intraocular lenses are devices that are implanted into the eyes of patients with cataract. Cataract is the cloudiness formation of the lens inside the eyes. IOLs also are used for a type of vision correction surgery called refractive lens exchange. IOLs have been used in surgeries for vision repair since 1990s and premium IOLs such as Toric, Phakic and Multi-Focals have been used in procedures popularly since the last decade. In coming years advanced biocompatible materials that can retain water and provide more natural environment for the eyes will become more popular. The global contact & intraocular lenses market was valued at US$ 13,326.3 million in 2014 and expected to grow to US$ 20,050.9 million by 2019 at a CAGR of 8.4% from 2015 to 2019. Estimates market value by lens design for contact and intraocular lenses with 2013 & 2014 as historical years and forecast of 2015-2019
Market Drivers:
- High incidence of refractive disorders among all age groups.
- Aging population, greater adoption of digital readers and electronics leading to rising incidence of refractive disorders.
- High comorbidity of ocular disorders due to rising number of diabetics.
- Better advantages compared to wearing glasses continue to drive growth among younger generations.
Market Challenges:
- Substitute permanent treatments such as LASIK being preferred in growing numbers.
- Reimbursement cuts for ophthalmic surgeries increase challenges.
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Contact Lenses By Material Design Covered In This Report:
- Rigid Gas Permeable
- Soft (Hydrophilic/Hydrogel) Lenses
- Hybrid Lenses
Contact Lenses By Optical Designs Covered In This Report:
- Spherical Lenses
- Toric Lenses
- Multi-Focal Lenses
- Ortho-K Lenses
- Others
Intraocular Lenses By Optical Designs Covered In This Report:
- Spherical Intraocular Lenses
- Toric Intraocular Lenses
- Accommodating Intraocular Lenses
- Multi-Focal Intraocular Lenses
- Phakic Intraocular Lenses
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Key Players Covered In This Report:
- Accu-Lens Inc
- Alcon (Novartis)
- All Pro Intraocular Lens Co. Ltd
- Appasamy Associates
- Aurolab