Continued Growth for CL Market, Says Report

Changing lifestyles have triggered a general trend towards comfort and convenience, which in turn has furthered the market for contact lenses. On an average, every year around 20% new potential consumers enter the CL market, notes a report called “Contact Lenses and Solutions: A Global Strategic Business Report” created by Global Industry Analysts, Inc. Children, teenagers, and younger people represent the prime targets of contact lens makers, the segments where significant research and development activity is going on. Specialty lenses are likely to witness expansion in wearer base, as a significant portion of the global population becomes subjected to astigmatism and presbyopia, conditions affecting aging eyes. This translates into huge potential for toric, bifocal, and multi-focal contact lenses. Additionally, ongoing shift from conventional lenses to disposable lenses that offer relatively higher revenues generation per patient also augurs well for overall market growth.

Sales of silicone hydrogel lenses still increase worldwide, but so do the number of studies into making CLs from different silicone hydrogel materials. In fact, companies are patenting their own silicone hydrogel material to gain edge in the global market. The report also states that the United States represents the largest market for contact lenses and solutions across the globe. Trends in the contact lens sector are quite similar across most global markets. However, in terms of wearer base, regional markets exhibit varying rates. The US CL market is more mature than rest of the world, so most global market growth lies in non-US markets. Read more.