Global Next Generation Contact Lenses and Visual Prostheses Market: Overview

There are many different ways to improve or correct visions problems and no single procedure is the best solution for all the people suffering from one type of eye problem or the other. Contact lenses and visual prostheses are such effective solutions for many.

According to the findings of Brien Holden Vision Institute, an Australia-based organization with focus on eye care research, more than 130 mn people wear contact lenses across the globe. The findings also highlight that there are in excess of 2 bn myopic people worldwide to cater to now and the figure would reach 5 bn by 2050. The global next generation contact lenses and visual prostheses market is likely to ride high on the back of such growing prevalence eye diseases.

Transparency Market Research provides an in-depth analysis of global next generation contact lenses and visual prostheses market. It elucidates the opportunities, challenges, market drivers, competitive landscape, and quantitative insights to offer vital suggestions to market players on successful strategies.

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Global Next Generation Contact Lenses and Visual Prostheses Market: Notable Developments

Global next generation contact lenses and visual prostheses market has undergone key developments over the past decade, and one of these developments is

  • July 2019, Paris-based Pixium Visions invented The Prima System. Five patients affected with dry Age-related Macular Degeneration (AMD) were put on trial for this newly-invented procedure. This new invention comprised augmented reality glasses and tiny, wireless sub-retinal implant. The system aimed to offer vision to patients rendered blind by retinal dystrophies.

The global next generation contact lenses and visual prostheses market profiles prominent market players such as Abbott Laboratories, Johnson & Johnson, Bausch & Lomb, Pixium Vision, and Bionic Sight.

Global Next Generation Contact Lenses and Visual Prostheses Market: Key Trends

The following trends, restraints, and opportunities could define the nature of the global next generation contact lenses and visual prostheses market during the review period.

Rise in Ocular Diseases is Likely to Propel Growth of the Market

Blindness can be caused due to various eye diseases such as retinitis pigmentosa, macular degeneration, glaucoma, and cataract. According to IAPB Vision Atlas, 253 mn people are visually impaired out of which 36-mn people are blind. Such high prevalence of ocular diseases is highly likely to propel the growth of global next generation contact lenses and visual prostheses market over the assessment period.

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Millions of patients are either blind or gradually losing their eyesight owing to age-related macular degeneration (AMD) and retinal degenerative diseases. In addition to diseases, accidents or injuries also contribute to loss of vision.

Use of artificial means to treat extreme cases of visual impairment is no more a far-fetched reality, thanks to the incredible ophthalmological breakthroughs. Development of devices and tools were developed to interface with the nervous system for prosthetic purposes. A visual prosthesis, often referred to as a bionic eye is still in the trial stage. Nevertheless, it holds immense promise for restoring vision to many different cases of blindness.

Global Next Generation Contact Lenses and Visual Prostheses Market: Geographical Analysis

North America, South America, Europe, Middle East and Africa, and Asia-Pacific (APAC) are the major regions of the report on global next generation contact lenses and visual prostheses market.

North America holds a large chunk of the market share owing to the surge in eye diseases, concentration of leading market players in the region and better awareness about ocular diseases. According to Centers for Disease Control and Prevention, 45 million people in the U.S. who wear contact lenses. Many technological breakthroughs in ophthalmology such as LASIK treatment, bionic implants had their inception and initiation in North America.  

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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Next Generation Contact Lenses And Visual Prostheses Market

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