Extended Wear Contact Lens Market Growth, Trends and Value Chain 2018 2026
Europe accounts for the second large revenue share in the global extended wear contact lens market.
[USPRwire, Sun Sep 08 2019] Increasing vision problems in younger population along with the graying population are the major factors that drive the market of extended wear contact lens market globally. People are avoiding using spectacles and shifting towards the use of contact lens in the recent years, which is expected to propel the growth of Extended Wear Contact Lens Market. Risk associated with the use of contact lens such as infection and corneal ulcers and vision completion are some of the factors that hinder the growth of the extended wear contact lens market.
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With technological advancement the material and designs of the contact lens has enhanced, with flexibility and choices. Extended wear contacts are lens that can be worn continuously for a week up to a month. Extended wear contact lens are usually soft contact lens made of flexible plastics, which allow oxygen to pass through cornea. Extended wear contact lens are made with the silicone hydrogel materials that significantly allow oxygen to pass through the lens, which decrease the risk of hypoxia making cornea susceptible to infection and inflammation. All the extended wear contact lens are disposable that are discarded after wearing it for one or two weeks. However, the risk of eye infection remains high when the lenses are worn during the night. People with binocular vision abnormalities such as amblyopia benefits from the extended wear contact lens. Recent advancements in extended wear contact is the development of extended wear gas permeable lens. Extended wear gas permeable lens reduces the risk of accumulation of dirt and space between the eye and surface of lens. According to CDC, in 2016, approximately 41 million Americans wore contact lenses and over 90% of adults wore soft lenses. Extended wear contact lens requires regular monitoring and professional care and increases the risk of complications. However, the extended wear contact lens require little or no cleaning but certain precaution have to be taken such as avoid dusty rooms, smoke and keeping water away from the eyes. The FDA has approved 30-day continuous wear to the extended wear contact lens for PureVision by Bausch & Lomb and Focus Night and Day by Ciba Vision.
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On the basis of distribution channel, the hospital pharmacies segment shares a large share owing to increase in adoption of contact lens and prevalence of eyesight problems. E-commerce segment is expected to show rapid growth during the forecast period owing to increasing availability of contact lenses in less time and cost effectiveness through e-commerce.
Extended Wear Contact Lens: Region-wise Outlook
The North America market for extended wear contact lens holds a largest revenue share owing to presence of major key players, increasing research and development activities and introduction of new innovative products. Europe accounts for the second large revenue share in the global extended wear contact lens market. Asia Pacific is expected to witness rapid growth owing to increase in awareness about healthcare, large geriatric population and strong focus of key players to expand business. China is expected to show significant growth owing to increasing population and increase in adoption of contact lens. Latin America and Middle East & Africa are projected to show slow growth owing to lack of awareness among population and less developed healthcare facilities.
Extended Wear Contact Lens: Key Players
Examples of some of the key players present in the global extended wear contact lens market are CooperVision, Novartis, Bausch & Lomb, Heffington's Eye Care, Alcon, and Johnson & Johnson Vision Care, Inc, among others.
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