(PharmaNewsWire.Com, August 15, 2017 ) According to the report Europe Contact Lenses Market, published by Market Data Forecast, the global market is projected to reach USD 4.7 billion by 2021, at a CAGR of 7.71% from 2016 to 2021.
Contact lenses are thin lens which are placed right in front of the eye. They are typically considered medical devices and are worn primarily to correct vision for people with sight and they are used for cosmetic purposes as well, in order to avoid wearing spectacles. In a research conducted in 2015, it was observed that the average age of person who wears contact lenses is 31 years and about 67 percent of them were female.
Contact lenses provide some advantages over the typically worn spectacles as they do not collect moisture over them like spectacles from rain, condensation or perspiration. Hence they can be used for playing sports and other outdoor activities. People wearing contact lenses can also wear sunglasses or goggles without having to worry about compatibility for glasses.
Europe Contact Lenses Market: Drivers & Restraints
The Europe contact lenses market is primarily driven by factors like increasing occurrence of eye conditions like myopia, hypermetropia and astigmatism, desire to be fashionable, improving economy, better range and quality of products available, presence of various brands, convenience in use, rising geriatric demographics and affordability among others. The primary restraints of this market are extremely high competition, rising demand for corrective eye surgery through laser and other technologies and serious dangers in using contact lenses without care. These factors are likely to restrain the market for some time.
In the applications segment, therapeutic contact lenses is expected to have the largest market share. In the materials segment, soft contact lenses segment which are typically made of hydrogel has the largest market share. In the design segment, spherical sub-segment is expected to have the largest market share.
Europe Contact Lenses Market: Region-wise Outlook
The Europe Contact Lenses market is geographically divided into Slovakia, Cyprus, Latvia, Austria, Denmark and other European countries. Cyprus, Latvia and Slovakia have the highest proportion of people wearing contact lenses accounting to around 15% in each of the countries. This is followed by Austria and Denmark with 10% of people in these countries wearing them. These countries are followed by United Kingdom, Portugal and France.
Key Questions Answered
What is the current and future Contact Lenses market outlook in Europe? What trends are affecting the Europe market?
What is the competitive landscape and market share of major players in the Contact Lenses space in Europe?
What are the key, high growth markets that Contact Lenses manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Contact Lenses currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of Contact Lenses?
What are the challenges and barriers that have hindered widespread adoption of Contact Lenses?
Europe Contact Lenses Market: Key Players
The major companies dominating the Europe Contact Lenses Drugs market are Johnson & Johnson (USA), Bausch & Lomb (USA), CooperVision (USA), Hydrogel Vision Corp (USA), Abbott Medical Optics, Inc. (USA), Alcon Laboratories, Inc (USA), Carl Zeiss AG (Germany), CIBA Vision (USA), Essilor International (France), and Contamac (United Kingdom).
Reasons to buy Europe Contact Lenses Market Report:
Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
About Market Data Forecast:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more information, kindly visit, www.marketdataforecast.com.
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Sales Manager (International Business Development)
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