Research Overview
Refractive Surgical Options for Vision Correction likely to Hamper Market Growth for Contact Lenses and Spectacles
Refractive surgical options such as laser in situ keratomileusis (LASIK), PRK Photorefractive keratectomy (PRK), radial keratotomy (RK), and astigmatic keratotomy (AK) have proved to be extremely useful tools in treating myopia, presbyopia, and astigmatism. Although the success rate of these refractive procedures is only an average of 70 percent, in most cases patients are freed from the usage of vision correction devices such as spectacles and contact lenses. In cases where there is less that 100 percent vision correction, patients are advised to wear spectacles in order to offset the small vision impairment. However, this is still considered convenient by patients as the spherical and cylindrical power is much reduced than what they would have had prior to surgery. This, therefore, gives them the freedom to wear spectacles with thinner lenses or no spectacles at all, which is a threat for the growth of the vision correction market in general. Moreover, with advances in phakic intraocular lenses (IOL), the challenge has become tougher. As innovations make their way in contact lenses and spectacle lenses, refractive surgical options are always likely to pose a challenge at every step.
This research service by Frost & Sullivan covers vision correction markets that include contact lenses and spectacle lenses. Contact lens care solutions have also been studied.
Growing Popularity of Higher Value Products such as Disposable and Speciality Contact Lenses and Polycarbonate Spectacle Lenses, as well as Favorable Demographics are Likely to Boost Market Growth
In the contact lens market, the trend is moving predominantly toward daily, weekly, and monthly disposable lenses. Although these lenses cost lesser than buying a pair of conventional lenses that can be used over two years, the annual net spending by the consumer is more; thereby increasing the annual spending patterns of the consumer. This trend has increased the average spending per consumer every year. Moreover, manufacturing costs of disposable lens is much lower against conventional soft contact lenses. This trend is more prominent in developed countries such as the United States, Japan, and Australia compared to nations such as China and India. Spectacles are considered as personality enhancers and a fashion accessory nowadays and people are more drawn towards polycarbonate lenses with anti glare and photochromatic treatments.Moreover, There is a higher incidence of myopia and astigmatism in the present day's echo boomer generation, the children of the baby boomer population. This is mainly due to lifestyles and activities that affect the eyes. This generation, which primarily comprises of teenagers, is more attracted toward colored contacts and tinted spectacle lens. These vision correction products have become fashion statements and are also worn by people for cosmetic purposes who have no vision problems.
Asian Markets Having the Largest Population of Myopes Holds Good Potential for Penetration
The U.S. market is very well penetrated and this is definitely a challenge for companies to increase their revenues and market share. Companies are, therefore looking outside the United States for opportunities. The Asian market is very under penetrated and has high potential, as it is one of the most populated markets and also has the largest incidence of myopia in the world.
Benefits of this Service
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Technology comparison, trends and emerging technology
There is constant technology upgrade and advancement in the contact lens and spectacle lens industry which has been the basis for competition for several years.This research service gives a detailed comparison of technology as well as a note on recent innovations and emerging technology. This could be used by companies to steer their research and development to position themselves in the growing market.
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Types of end-user, trends and requirements
The research service lists the types of end-users and analyzes trends based on their requirements and purchasing power in each region covered in the research service. It is key to know end-user perspective in a market like this as it is so customer driven and assumes consumer goods status in certain cases.
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Geographical segmentation based on potential and trends in each region
The segmentation in the research service is not only based on technology and products but also on region. On a broad basis the research is split between U.S. and Asia. Further four countries in the Asia Pacific region – Australia, China, India and Japan have been discussed in detail.
Market Sectors
- Contact Lens Market - U.S. and APAC
- Contact Lens Care Solutions Market - U.S. and APAC
- Spectacle Lens Market - U.S. and APAC
Technologies
Contact Lens: A contact lens is a glass or plastic lens that is fit over the cornea for vision correction or for cosmetic purposes
Contact Lens: Care Solutions: Contact Lens care solutions are essentially used for cleaning, wetting and soaking reusable contact lenses to remove dirt and protein deposition.
Spectacle Lens: Spectacle Lenses are fit onto the spectacle frame to provide the necessary vision correction.Spectacle lenses are segmented as either single vision, multifocal or progressive based on the design
What's Included
- Overview of the eye anatomy, eye pathologies, technology trends and comparisons
- Market dynamics with discussions about market drivers, restraints, challenges and notable mergers and acquisitions
- Analysis of end-user trends and requirements
- Overview, revenue forecasts and market shares of U.S. contact lens, lens care solutions and spectacle lens markets
- Overview, revenue forecasts and market shares of Asia Pacific contact lens, lens care solutions and spectacle lens markets, with focus on Australia, China, India and Japan
Table Of Contents
1. Executive Summary
- 1. Introduction and Executive Summary
- 1. Executive Summary of the U.S and Asia Pacific Ophthalmic Goods Markets
2. Overview of the U.S. and Asia Pacific Ophthalmic Goods Market
- 1. Introduction - Contact Lenses
- 2. Introduction - Contact Lens Care Solutions
- 3. Introduction - Spectacle Lenses
- 4. Scope and Segmentation
- 5.Anatomy of the Eye
- 6. Eye Pathologies
- 7. Research Methodology
- 8.Technology Comparison
- 9.Technology Trends
- 1. Industry Challenges
- 2. Market Drivers
- 3. Market Restraints
- 4. Notable Mergers and Acquisitions
- 3. End-user Trends and Analysis
- 1.Types of End Users and Trends
- 2. Key End-user Requirements
- 4. Frost & Sullivan Awards
- 1. Frost & Sullivan Awards for the United States and Asia Pacific Ophthalmic Goods Market
- 2. Market Leadership Award
- 3.Technology Leadership Award
- 4. Growth Strategy Leadership Award
- 5. Competitive Strategy Leadership Award
- 6.Technology Innovation Award
3. U.S. Ophthalmic Goods Market
- 1. Introduction
- 2. Country Profile
- 2. Market Forecasts and Analysis
- 1. Forecasts of the U.S. Contact Lens Market
- 2. Forecasts of the U.S. Contact Lens Care Solutions Market
- 3. Forecasts of the U.S. Spectacle Lens Market
- 1. Competitive Structure
- 2. Market Share Analysis - Contact Lens Market
- 3. Market Share Analysis - Contact Lens Care Solutions Market
- 4. Market Share Analysis - Spectacle Lens Market
4.Asia Pacific Ophthalmic Goods Market
- 1. Introduction
- 2. Geographic Segmentation
- 2. Market Forecasts and Analysis
- 1. Forecasts of the Asia Pacific Contact Lens Market
- 2. Forecasts of the Asia Pacific Contact Lens Care Solutions Market
- 3. Forecasts of the Asia Pacific Spectacle Lens Market
- 3. Market Overview and Forecasts - Australia
- 1. Country Profile
- 2. Market Forecasts and Analysis
- 4. Market Overview and Forecasts - China
- 1. Country Profile
- 2. Market Forecasts and Analysis
- 5. Market Overview and Forecasts - India
- 1. Country Profile
- 2. Market Forecasts and Analysis
- 6. Market Overview and Forecasts - Japan
- 1. Country Profile
- 2. Market Forecasts and Analysis
- 1. Competitive Structure
- 2. Market Share Analysis - Contact Lens Market
- 3. Market Share Analysis - Contact Lens Care Solutions Market
- 4. Market Share Analysis - Spectacle Lens Market
5.Appendix
- 1. Decision Support Databases
- 1. Number of Ophthalmologists in the United States
- 2.Total Population
- 3. Per Capita Healthcare Expenditure
- 4. Population Suffering from Cataract Blindness
List of Figures
SEGMENT 2
- Ophthalmic Goods Market: Comparative Analysis of Spectacle Lens and Contact Lens (U.S. and Asia Pacific), 2004
- Ophthalmic Goods Market: Comparative Analysis of Soft Contact Lens and Rigid Gas Permeable Lens (U.S. and Asia Pacific), 2004
- Ophthalmic Goods Market: Impact of Top Ten Industry Challenges (U.S. and Asia Pacific), 2005-2011
- Ophthalmic Goods Market: Market Drivers Ranked in Order of Impact (U.S. and Asia Pacific), 2005-2011
- Ophthalmic Goods Market: Market Restraints Ranked in Order of Impact (U.S. and Asia Pacific), 2005-2011
SEGMENT 3
- Ophthalmic Goods Market: Fast Facts (U.S.), 2004
- Contact Lens Market: Revenue Forecasts (U.S.), 2001-2011
- Contact Lens Care Solutions Market: Revenue Forecasts (U.S.), 2001-2011
- Spectacle Lens Market: Revenue Forecasts (U.S.), 2001-2011
- Contact Lens Market: Competitive Structure (U.S.), 2004
- Contact Lens Care Solutions Market: Competitive Structure (U.S.), 2004
- Spectacle Lens Market: Competitive Structure (U.S.), 2004
SEGMENT 4
- Contact Lens Market: Revenue Forecasts (Asia Pacific), 2001-2011
- Contact Lens Care Solutions Market: Revenue Forecasts (Asia Pacific), 2001-2011
- Spectacle Lens Market: Revenue Forecasts (Asia Pacific), 2001-2011
- Ophthalmic Goods Market: Fast Facts (Australia), 2004
- Ophthalmic Goods Market: Revenue Forecasts (Australia), 2001-2011
- Contact Lens Market Market: Revenue Forecasts (Australia), 2001-2011
- Contact Lens Care Solutions Market Market: Revenue Forecasts (Australia), 2001-2011
- Spectacle Lens Market Market: Revenue Forecasts (Australia), 2001-2011
- Ophthalmic Goods Market: Fast Facts (China), 2004
- Ophthalmic Goods Market: Revenue Forecasts (China), 2001-2011
- Contact Lens Market Market: Revenue Forecasts (China), 2001-2011
- Contact Lens Care Solutions Market: Revenue Forecasts (China), 2001-2011
- Spectacle Lens Market: Revenue Forecasts (China), 2001-2011
- Ophthalmic Goods Market: Fast Facts (India), 2004
- Ophthalmic Goods Market: Revenue Forecasts (India), 2001-2011
- Contact Lens Market Market: Revenue Forecasts (India), 2001-2011
- Contact Lens Care Solutions Market: Revenue Forecasts (India), 2001-2011
- Spectacle Lens Market: Revenue Forecasts (India), 2001-2011
- Ophthalmic Goods Market: Fast Facts (Japan), 2004
- Ophthalmic Goods Market: Revenue Forecasts (Japan), 2001-2011
- Contact Lens Market: Revenue Forecasts (Japan), 2001-2011
- Contact Lens Care Solutions Market: Revenue Forecasts (Japan), 2001-2011
- Spectacle Lens Market: Revenue Forecasts (Japan), 2001-2011
- Contact Lens Market: Competitive Structure (Asia Pacific), 2004
- Contact Lens Care Solutions Market: Competitive Structure (Asia Pacific), 2004
- Spectacle Lens Market: Competitive Structure (Asia Pacific), 2004