Published on : Jan 20, 2020
ResearchMoz.us has announced the addition of a report, titled “Global Contact Lens Cleaner Cases Market Insights, Forecast to 2025”. The report on the Contact Lens Cleaner Cases market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period of the report is 2019 to 2025. Base year is 2018.
Rise in incidence of optical disorders is leading more and more people to demand for contact lenses, primarily because they are corrective as well as aesthetically pleasing. Worldwide, 2.5 billion people have poor eyesight and it impacts global economy is a negative way – productivity loss of USD 269000000.
As newer standard of beauty mark the landscape, need for contact lenses rises, leading to growth in the contact lens cleaner cases. Social media, in particular, plays a pretty crucial role. It makes people be super conscious of looks and as people direct efforts to upload their flawless pictures and garner likes to feel better, demand for contact lenses, and thus, contact lenses cleaner cases moves on an even higher trajectory.
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It is important to note here that as economies do better, disposable incomes increase and standard of living rise. This is particularly true of certain developing economies in the Asia Pacific (APAC) region which is set to generate untapped growth opportunities in the contact lens cleaner cases market for market players.
The global contact lens cleaner cases market will lead to a significant CAGR (Compound Annual Growth Rate) over the forecast period, leading to multiple growth opportunities and a higher market worth.
Another factor driving demand in the contact lens cleaner cases market by driving demand in the contact lens is the rapidly ageing population which is susceptible to cataract and glaucoma. In another thirty years, there would be 2 billion people aged 6o and above and some one in six people to be in the age bracket of 65 and over. Europe and North America will witness a steep one in four ratio of people aged 65 and above.
In 2015, people aged 60 and above were a mere 900 million. And, 2018 has already proved historic in terms of demographic shift whereby the number of geriatrics is much more than the number of people aged five and below.
With high awareness, social media influence in all age groups and higher disposable income, expenditure across all areas of personal grooming is seeing an upward rise.
Region-wise, North America will dominate the global contact lens cleaner market landscape owing to poor eye sight in the region due to poor diet and high purchasing power. Longer work days experienced in the region are also leading to poor vision troubles. Additionally, higher a large number of ageing people is fuelling growth in the global contact lens cleaner cases market. Moreover, a robust healthcare infrastructure and a presence of large number of prominent social media influencers in beauty, healthcare and personal grooming are positively impacting growth in the market.
In 2014, United States reported a 2.9 million people with poor vision, as per National Eye Institute. And, as per estimates, the number will rise to touch a 30 million mark in another decade.
The market landscape overall is quite fragmented and highly competitive with a large number of players flanking the landscape.