New York, USA, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Asia-Pacific Contact Lens Market to Register Significant Growth at a CAGR of ~6% by 2028 | DelveInsight
The APAC contact lens market is expected to prosper due to the increasing prevalence of refractive errors in the population, the rising popularity of cosmetic and prosthetic use contact lenses in the region, and the rising use of contact lenses in sports among athletes during the forecast period (2023–2028).
DelveInsight’s Asia-Pacific Contact Lens Market Insights report provides the current and forecast market analysis, individual leading Asia-pacific contact lens companies’ market shares, challenges, Asia-pacific contact lens market drivers, barriers, trends, and key market Asia-pacific contact lens companies in the market.
Key Takeaways from the Asia-Pacific Contact Lens Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global Asia-pacific contact lens market during the forecast period.
- Notable Asia-pacific contact lens companies such as Alcon, Inc., Cooper Companies Inc., Johnson & Johnson, Bausch Health Companies Inc., HOYA Corporation, Brighten Optix Corporation, ZEISS Group, SynergEyes, Gelflex, Menicon Co., Ltd., SEED Co., Ltd, NewBio CO., LTD., Ginko International Co., Ltd., Lucid Korea Ltd., Belmore Korea Company, and several others, are currently operating in the Asia-pacific contact lens market.
- In February 2022, Johnson & Johnson Vision, a global leader in eye health, announced the launch of BUBBLE POPTM, a new range of colored contact lenses designed to meet the rising trend of eye makeovers in India.
To read more about the latest highlights related to the Asia-pacific contact lens market, get a snapshot of the key highlights entailed in the Global Asia-Pacific Contact Lens Market Report
Contact Lens Overview
Contact lenses are a modern marvel of vision correction, offering a convenient and discreet alternative to traditional eyeglasses. These thin, curved discs, usually made from comfortable and breathable materials, are placed directly on the surface of the eye to correct refractive errors like myopia (nearsightedness), hyperopia (farsightedness), astigmatism, and even presbyopia. Contact lenses provide a wider field of view compared to glasses, allowing wearers to engage in sports, outdoor activities, and everyday tasks with greater ease. They come in various types, including soft lenses for daily wear, extended wear, or disposable use, as well as rigid gas-permeable lenses for specific vision needs. Advances in technology have led to specialized lenses that can address specific eye conditions and even change eye color, catering to both medical and cosmetic needs. However, proper hygiene, cleaning, and regular eye check-ups are essential to ensure the health and comfort of the eyes while enjoying the benefits of contact lenses.
Asia-Pacific Contact Lens Market Insights
Japan is estimated to lead the Asia-pacific contact lens market in terms of revenue generation, with a market value of USD 2,080.46 million in 2021, rising at a CAGR of 5.55% during the forecast period (2023–2028) to reach USD 2,874.56 million by 2028. This dominance is due to the increasing prevalence of myopia and refractive problems in the region. Furthermore, the rising healthcare spending, and significant investment by prominent Japanese enterprises will all contribute to the expansion of the Japanese contact lens market.
In addition, increased technological improvements among Japanese contact lens makers will enhance demand for such novel contact lenses in the Japanese market, resulting in an overall increase in Asia-pacific contact lens market growth. Menicon, Japan’s largest contact lens producer, for example, signed an agreement with Mojo Vision on December 9, 2020, to develop augmented reality contact lenses.
To know more about why Japan is leading the market growth in the Asia-pacific contact lens market, get a snapshot of the Asia-Pacific Contact Lens Market Outlook
Asia-Pacific Contact Lens Market Dynamics
Among the notable drivers of the Asia-pacific contact lens market, the increased prevalence of refractive errors appears to be the primary cause pushing the region’s contact lens market. The development of novel contact lenses for the management and treatment of refractive problems is another important driver in the contact lens market.
However, rising concerns about eye safety and the availability of substitute products in the market may act as impediments to the growth of the Asia-pacific contact lens market.
Additionally, the COVID-19 pandemic had a detrimental influence on the Asia-pacific contact lens market because of the lockdown and suspension of routine healthcare eye checkups, as the majority of healthcare sector resources were used to manage the COVID-19 issue. To contain the spread of COVID-19 disease, the APAC market began to implement “stay at home” orders and business shutdowns in early 2020, which included the offices of eye care professionals and the deferral of non-urgent surgical procedures, resulting in an economic standstill and negatively affecting the growth of the contact lens market. However, with a high number of people being vaccinated and the restart of activity across industries, including the healthcare sector, the Asia-pacific contact lens market is predicted to increase positively from 2023 to 2028.
Get a sneak peek at the Asia-pacific contact lens market dynamics @ Asia-Pacific Contact Lens Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2020–2028 |
| Asia-Pacific Contact Lens Market CAGR | ~6% |
| Asia-Pacific Contact Lens Market Size by 2028 | USD 6.4 Billion |
| Key Asia-Pacific Contact Lens Companies | Alcon, Inc., Cooper Companies Inc., Johnson & Johnson, Bausch Health Companies Inc., HOYA Corporation, Brighten Optix Corporation, ZEISS Group, SynergEyes, Gelflex, Menicon Co., Ltd., SEED Co., Ltd, NewBio CO., LTD., Ginko International Co., Ltd., Lucid Korea Ltd., Belmore Korea Company, among others |
Asia-Pacific Contact Lens Market Assessment
- Asia-Pacific Contact Lens Market Segmentation
- Asia-Pacific Contact Lens Market Segmentation By Applicability: Clear Contact Lens and Coloured Contact Lens
- Asia-Pacific Contact Lens Market Segmentation By Country: China, Japan, India, Australia, South Korea, and Rest of Asia
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the Asia-pacific contact lens market are set to emerge as the trendsetter explore @ Asia-Pacific Contact Lens Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Asia-Pacific Contact Lens Market |
| 7 | Asia-Pacific Contact Lens Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Asia-Pacific Contact Lens Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the Asia-pacific contact lens market by 2028? Click to get a snapshot of the Asia-Pacific Contact Lens Market Trends
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