Press Release
Press Release
The contact lenses market is driven by the growing demand for contact lenses for the execution of various therapies, such as corneal refractive therapy (CRT) and orthokeratology. In orthokeratology, the contact lens is designed in such a way that is meant to be worn overnight. While being asleep, the lenses gently reshape the front surface of the eye (cornea) so that a person can have a clear vision after removing the lenses. The contact lens market, in the forecast period, is anticipated to be propelled by the growing cases of presbyopia, for which these therapies are gaining traction.
In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to the rising cases of myopia, hyperopia, and presbyopia among the geriatric population. The market in the region is anticipated to be propelled by the changing preference of the patients from spectacles to contact lenses. The increasing number of eye care professionals in countries like India, China, and Japan is likely to aid the market growth in the forecast period.
In May 2021, CooperVision, Inc. (NYSE: COO) announced the approval of CooperVision MiSight® 1 day contact lenses for use within China, following a priority review. The product was approved by Chinese National Medical Products Administration (NMPA). Following the approval, the company will aim towards working closely with eye-care specialists in order to help Chinese children suffering from myopia. MiSight® is known to be one of the most innovative products which is likely to hit the markets of China, along with the promotion of ortho-k and SightGlass Vision® myopia management products.
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The major players in the global contact lenses market are Alcon Vision LLC, Bausch & Lomb, Incorporated, Johnson & Johnson Vision Care, Inc., CooperVision, Inc., and Essilor International S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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