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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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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Bandage Contact Lenses Market

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