Contact Lenses Sales to Cross US$ 8 Bn in 2020; Telehealth Innovations to Help Market Sustain Limited Operations as Covid-19 Delays Ophthalmology Services – Future Market Insights

Contact lenses manufacturers are optimizing supply chains and flexibility in operations to sustain production and ensure stock availability during the covid-19 pandemic.

DUBAI, UAE / ACCESSWIRE / July 29, 2020 / The contact lenses market is projected to surpass a valuation of US$ 8 Bn by 2020. The covid-19 outbreak has resulted in governments issuing social distancing guidelines in addition to encouraging the postponement of elective medical services, such as contact lens prescriptions. Also, heath concerns for workers in contract lens production and distribution facilities will moderately impact the global contact lenses market in the short term.

“The rising incidences of chronic eye ailments and a growing number of children afflicted by myopia are key factors aiding the adoption of contact lenses. Demographic factors such as an expanding population of geriatrics and diabetics will sustain market operations through and after the coronavirus crisis,” states the FMI analyst.

Download a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-10714

Contact Lenses Market- Critical Takeaways

• Hybrid contact lenses account for approximately half of global revenue owing to rising incidences of presbyopia and astigmatism.
• Hydrogel is a popular, fast growing material for contact lenses, supported by higher oxygen permeability.
• North America is a prominent market for contact lenses aided by a higher patient awareness level about eyecare preventable blindness issues.

Contact Lenses Market- Drivers

• Higher consumer spending power, coupled with rising incidences of ophthalmologic ailments is a key growth driver.
• Growing consumer bias towards branded and cosmetic contact lenses boosts adoption rates.

Contact Lenses Market- Restraints

• Substantial differentiation in cost between products from branded and unbranded players hinders market growth.
• Rising popularity of technologically advanced eye correction surgeries is hurting the demand for contact lenses.

Coronavirus Impact on Contact lenses Market

A substantial portion of global contact lenses production occurs in China. Numerous factory facilities continue to stay closed in the region during the coronavirus pandemic, which will impact supplies in the market for the near term. Other producers have had to run at limited operational capacity to comply with social distancing guidelines. Optimizing supply chains to maintain inventory stocks are critical to market players the world over. Telehealth facilities are also increasingly gaining importance for remote contact lens prescription services.

For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-10714

Competitive Landscape

Manufacturers in the contact lenses market are largely investing in research and tech improvements for customization as per user needs. For instance, Johnson & Johnson are currently testing augmented reality technology for potential consumers to test out colored contact lenses. Menicon Co. Ltd., CooperVision Inc., Essilor International S.A., Johnson & Johnson Vision Care Inc., SEED Co. Ltd., Hoya Vision Care Co., ZEISS International, Bausch & Lomb Inc., and BenQ Materials Corp. are some of the leading contact lenses market players.

About the Study

The study offers readers a comprehensive assessment of the contact lenses market. Global, regional and national-level analysis of the latest trends influencing the contact lenses market is covered in this FMI report. The study provides insights according to product (soft lenses and gas permeable lenses), design (spherical, toric, multifocal, and others), wear (disposable and reusable), and sales channel (online and offline) in seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

We offer Tailor-made Solutions to fit your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-10714

Explore FMI’s Coverage of the Retail & Consumer Products Industry

Ready to Mix Food Market– Get insights on the global ready to mix food market through FMI’s report covering detailed quantitative and qualitative analysis for projection period 2014-2020.

Mobile Phone Accessories Market – FMI’s exhaustive study on the global mobile phone accessories market covers the latest trends, innovations, key players, and popular strategies for the period 2019-2029.

Perfumes Market– Obtain detailed analysis on the perfumes market through FMI’s report covering competitive analysis, key regions, and segmental analysis.

About Future Market Insights

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the retail and consumer goods sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

Contact:

Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/contact-lenses-market
Press Release Source: https://www.futuremarketinsights.com/press-release/contact-lenses-market

SOURCE: Future Market Insights

View source version on accesswire.com:
https://www.accesswire.com/599197/Contact-Lenses-Sales-to-Cross-US-8-Bn-in-2020-Telehealth-Innovations-to-Help-Market-Sustain-Limited-Operations-as-Covid-19-Delays-Ophthalmology-Services–Future-Market-Insights