The size of the Asia Pacific Contact Lenses Market is forecasted to worth USD 4 billion by 2027 from USD 2.7 billion in 2022, growing at a CAGR of 8.16 % from 2022 to 2027.
Growing focus on developing new features in research centers is a key driving factor for the Asia Pacific Contact Lenses Market to grow. Increasing awareness over the availability of different lenses according to the design and color elevates the demand of the contact lenses market in the Asia Pacific. In addition, the rise in the geriatric population across the region is one more factor accelerating the growth rate of the market to the extent. People's interest in outdoor activities is likely to outshine the market demand in the Asia Pacific. Increasing the prevalence of easy wearability and convenient lenses is also promoting the growth rate of the market. Besides, escalating expenditure on healthcare, especially in developed and developing countries, is fuelling the growth rate of the Asia Pacific Contact Lenses Market in this region.
However, fluctuations in the availability of different raw materials to manufacture the latest designs with advanced technology in some areas hinder the growth rate of the market. Lack of proper knowledge over the availability of these lenses in rural areas has remained a challenging factor for the market developers. The dearth of skilled ophthalmologists is also a factor limiting the growth rate of the contact lenses market in the Asia Pacific.
This research report on the Asia Pacific Contact Lenses Market has been segmented & sub-segmented into the following categories:
Regionally, the Indian contact lenses market is expected to showcase a high CAGR in the APAC market during the forecast period. The increasing number of problem-related to the eye is a key growth factor in this market. Contact lenses are becoming more advance in terms of quality, durability, and handling. There is a great awareness regarding the hygienic benefit of contact lenses, propelling the market growth. The young population is the potential customer for contact lenses. The key players are creating awareness about the benefit of contact lenses, which is to fuel the demand for the contact lenses market.
The contact lenses market is significantly growing in China and is one of APAC's most promising regional markets. There is a rising demand for disposable contact lenses from the past few years, which is driving the market's growth rate. The online market is dominating the contact lenses market in china.
The Japanese contact lenses market is another lucrative regional market in APAC and is predicted to witness a notable CAGR from 2022 to 2027. The disposable lenses market occupies 90% of the market. Increasing the use of soft contact lenses is driving the market in Japan.
The Australian contact lenses market is driven by technological advancement. In addition, the rising geriatric population and increasing demand for advanced treatment procedures are surging the demand of the market.
The contact lenses market in South Korea is expected to grow at a robust CAGR during the forecast period. The key factor driving the market is the launch of new product development and the increase in soft gel lenses.
KEY MARKET PLAYERS:
A few of the noteworthy companies in the APAC Contact Lenses market profiled in this report are Johnson & Johnson, Bausch & Lomb, CooperVision, Hydrogel Vision Corp, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Carl Zeiss AG, CIBA Vision, Essilor International, and Contamac.
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