Bandage Contact Lenses Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Bandage Contact Lenses Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • September 2033
  • Healthcare IT
  • 0 pages

Report Description

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Bandage contact lenses are soft contact lenses that serve the purpose of protection of cornea from friction and irritation caused by mechanical rubbing of eyelids, and other functions including pain relief, healing, sealing, and maintenance of corneal hydration, thereby allowing the cornea to heal in conditions such as an eye injury or corneal diseases. These contact lenses do not have focusing power and are not intended for vision correction. Bandage contact lenses are available in different forms, materials, and wearing schedules, depending upon the application. Recent clinical studies have demonstrated the effectiveness of bandage contact lenses in the treatment of numerous corneal diseases including dry eye. These are also used for drug delivery to the cornea in some cases.

Rise in prevalence of eye disorders, increase in the number of vision correction surgeries, rapidly aging population across the world, and surging applications of bandage contact lenses in the treatment of eye disorders are the major factors expected to drive the global bandage contact lenses market during the forecast period. Clinical studies across the world have demonstrated the clinical and therapeutic effects including faster corneal re-epithelialization, reduced patient discomfort, and other advantages of bandage contact lenses in the treatment of various eye disorders including dry eye, filamentous keratopathy, bullous keratopathy, and other diseases. According to the American Academy of Ophthalmology (AAO), around 48,229 corneal implants were performed in the U.S. in 2013. Prevalence of cataract and other eye-related disorders such as glaucoma, blindness, and diabetic retinopathy is on the rise, with cataract affecting nearly 24 million people in the U.S. each year. Moreover, an estimated 21 million LASIK surgical procedures were performed in the U.S. alone in 2015. Rise in number of vision correction surgeries including LASIK, increase in number of cataract surgeries being performed globally, and growing applications of bandage contact lenses in the post-surgical healing of cornea are projected to drive the market from 2017 to 2025.

The global bandage lenses market can be segmented based on material, indication, and region. In terms of material, the market can be categorized into lotrafilacon, balafilacon, senofilacon, methafilacon, and other materials. Growing applications of bandage contact lenses and rise in patient preference are inducing manufacturers to use new and more advanced materials in the manufacture of bandage contact lenses. Based on indication, the global bandage lenses market can be divided into corneal ablation, dye eye disease, LASIK surgery, and others. Various clinical trials and studies conducted globally demonstrating the clinical and therapeutic effects of bandage contact lenses in protection and treatment of cornea have led to usage of bandage contact lenses in new indications.

In terms of region, the global bandage contact lenses market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global market during the forecast period. Rise in incidence of eye diseases, growing applications and adoption of bandage contact lenses among health care providers and patients, increase in health care spending, and adequate reimbursement policies are the major factors attributed to the higher market share of North America during the forecast period. Europe is likely to account for the second largest share of the bandage contact lenses market. However, rapidly increase in incidence of eye diseases in Asia Pacific, especially in China, Singapore, Indonesia, and other countries in Southeast Asia, rise in health care expenditure are factors expected to fuel the growth of the market in Asia Pacific from 2017 to 2025.

Key players in the global bandage contact lenses market include Vistacom, Inc., Alcon (Novartis AG), Bausch + Lomb, Incorporated (Valeant Pharmaceuticals International, Inc.), and Unilens Corporation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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