Press Release

Colored Contact Lenses Market to Gain Traction; Increasing Spending Capacity of Millennials to Stoke Demand: Fortune Business Insights™

Colored Contact Lenses Market Size| 2021 Covid-19 Impact On Healthcare Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players And Regional Forecast latest study published by Fortune Business Insights. The global “colored contact lenses market” is expected to showcase considerable growth backed by the growing awareness regarding aesthetic value amongst the millennials and the increasing spending capacity of the millennials that drive the demand for innovative colored contact lenses. This information is published by Fortune Business Insights in its latest report, titled, “Colored Contact Lenses Market Size, Share & Industry Analysis, By Product Type (Soft contact lenses, RGB lenses, Hybrid lenses), By Material (Polymer, Hydrogel), By End-user (Retail stores, Online stores, Others) and Regional Forecast 2020-2027.”

Thenegative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

Colored contact lenses are types of lenses that allow the user to change their eye color. Following safe handling practices, these colored lenses are totally safe for consumption and can be adorned for daily wear or some special occasion. The growing western influence has boosted the demand for such lenses across the globe.

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Global Colored Contact Lenses Market Highlights:

The Colored Contact Lenses Market report offers an in-depth analysis of the Colored Contact Lenses industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Colored Contact Lenses market concentration, and maturity analysis is elaborated in this report.

Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.

The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Colored Contact Lenses Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.

Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.

It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Colored Contact Lenses market to figure out and study the market’s needs, market size, and competition.

DRIVING FACTORS

High Spending Capacity of Millennials to Augment Growth

The growing social media influence is driving the need for bettering the aesthetic values of themselves amongst the generation Z. This is likely to bode well for the demand of innovative colored contact lenses as a style statement. Moreover, high spending capacity of the millennials backed by high disposable income is anticipated to boost the global colored contact lenses market growth during the forecast period. For instance, according to the Modern Wealth Report 2019 by Schwab, the millennials spent on an average about USD 478 on luxury items, vacations, and entertainment purposes.

REGIONAL INSIGHTS

North America to Remain at Forefront; Large Investment in R&D in North America to Augment Growth

Among all the regions, North America is expected to hold the highest position in the global colored contact lenses market in the forthcoming years. This is attributable to the high investment in R&D activities by the major colored contact lenses manufacturers to cater to the growing consumer demand.

On the other hand, Europe is expected to hold the second position in the market backed by the increasing government funding in the healthcare sector that is favorable for the adoption of innovative colored contact lenses in the region between 2020 and 2027.

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COMPETITIVE LANDSCAPE:

Increasing Investment in R&D Activities by Key Players to Strengthen Their Market Position

The global colored contact lenses market is consolidated by the presence of key players focusing on investing in R&D activities to introduce innovative colored contact lenses. Furthermore, other key players are striving to maintain their presence by adopting strategies such as collaboration, merger and acquisition, and partnership that will contribute to the growth of the market during the forecast period.

Industry Development:

  • June 2019 – Alcon introduced its new DAILIES colored contact lenses that deliver color enhancement in a single disposable lens pack. The company reports that the lenses are available in hazel, green, blue, and gray colors that help to amplify glamour and style quotients of the wearer.

List of the Companies Profiled in the Global Market for Colored Contact Lenses:

  • Johnson and Johnson Services, Inc.
  • Coopervision
  • Bausch & Lomb
  • Alcon
  • Innovision Lens
  • INC
  • Grandvision
  • QualiMed
  • Among others

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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