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According to the new report “Global Contact Lenses & Intraocular Lenses Market Assessment & Forecast 2015 - 2019” by SA-Business Research & Consulting Group, Middle-East and Asia-Pacific regions are forecast to grow the quickest at a CAGR of 10.4% and 10.0% respectively.
The development of new water retaining materials increased the comfort of wear among a large number of people. Current materials such as silicone hydrogel and other hydrophilic materials are composed of more than 60% water content. The material itself allows large quantities of oxygen to pass through and this overcomes challenges of materials with only high water content. This has greatly impacted the adoption of lenses across all ages and particularly among aged wherein drying of eyes accounts as a major for not wearing extended duration lenses. Women outnumber men in contact lens wear with a ratio of 3:1 and almost exclusively wear customized aesthetic or cosmetic lenses. Growth in demand among younger age-groups continues as children wish to escape peer pressure of wearing glasses in public. In countries such as Japan, an emerging trend has been the demand for larger iris size in plano contact lens. Silicone Hydrogel lenses are anticipated to continue growing in demand in double digit growth as replacement period reduces to daily wear. Silicone Hydrogel lenses are anticipated to contribute to 23% of all soft lenses by 2019.
According to CDC, WHO and World Diabetes Foundation more than 330 million people are estimated to suffer from diabetes across the world. The International Diabetes Federation pegs the global number at approximately 285 million and anticipates global population to rise to approximately half a billion by 2030. Glaucoma, diabetic retinopathy and cataracts are directly associated with the presence of diabetes since the condition causes clouding of the lens. Due to the high presence of diabetes in Africa and Asia-Pacific, the rate of ocular disorders and complications is expected to rise steadily giving impetus to the growth of LASIK and IOLs market in coming years. The trends are set to affect the demand of contact lenses as well since a large majority of people require correction of vision since IOLs may not be fully customized. As the digital age advances, adoption of electronic readers, smart phones, laptops and computers is increasing among younger generation as well. Although a medically proven cause of refractive disorders, electronic devices are now highly associated with daily life making them impossible to exclude from day-to-day jobs. This is anticipated to create an increased burden on the number of refractive disorders growing among younger age groups and even those below 10 years. Disposable contact lenses are suited the best for children and adults for vision correction and the market is anticipated to grow steadily owing to this core lifestyle trend.
This report provides qualitative and quantitative data for contact lenses and intraocular lenses. The study includes analysis of various product segments such as spherical, toric, multi-focal, ortho-K, cosmetic or colored lenses among others. It also sheds qualitative and quantitative insight into the market of intraocular lenses by optical design such as phakic, accommodating, multi-focal and spherical.
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