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Scleral Lens Market; Bausch Health Companies Inc. Launch their New 28 Lens Zenlens Dx Set to Meet Demands for Gas Permeable Lenses Regarding Corrective Vision Disorders to Expand Portfolio: Fortune Business Insights™
The scleral lens market size wasUSD 208.4 millionin 2020. The market is projected to grow fromUSD 240.2 millionin 2021 toUSD 646.8 millionin 2028 at a CAGR of15.2%during the 2021-2028 period. This vital information is presented byFortune Business Insights™, in its report, titled,“Scleral LensMarket, 2021-2028.”Factors such as widening applications and rising awareness among consumers will increase the footprint of the market during the forecast period. Additionally, rising ocular disorders will boost the growth of the market.
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List of Key Players Present in the Market
Increasing Technological Advancements to Augment Market Growth During Forecast
Factors such as increasing consumer awareness regarding benefits attributed from scleral lens and an increasing number of favorable reimbursement policies will increase the footprint of the scleral lens market growth during the forecast period. Technological advancements and an increasing number of product launches will boost market growth. Additionally, widening applications and a rising number of ocular disorders will fuel the growth of the market.
However, an increasing number of alternative treatment solutions will hinder the growth of the market during the forecast period to a certain extent.
Essilor, Bausch Health Companies Inc., and ABB Optical Group to Lead Market Gains due to Product Development
The sector is extremely fragmented with Essilor, Bausch Health Companies Inc., and ABB Optical Group occupying more than 55% of the total market share in 2020. Prominent players are focused on strategic collaborations and introducing novel products to gain a competitive edge over others. For example, in July 2019, Visionary Optics introduced their Latitude scleral lens. These are custom fit scleral and corneal surfaces which are derived from the scleral topography measurements. These product launches have integrated the company towards expanding its portfolio. Players such as Blanchard Lab, Art Optical Contact Lens, Inc., Visionary Optics, and BostonSight, among others are focused on increasing investments in RandD to maintain their current market status.
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Asia Pacific to Register Highest CAGR Growth Due to Rising Ocular Disorders
The Asia Pacific will hold the largest CAGR growth during the forecast due to the rising patient pool regarding post-LASIK and radial keratotomy procedures along with the increasing potential of patients shifting towards advanced eye care solutions.
North America will witness considerable scleral lens market share owing to the expansion of product portfolio by prominent players and rising patient pool for scleral lens. Additionally, increasing occurrences of ocular disorders in the region and rising collaborative effort among key players to improve market growth in the region.
Latin America and the Middle East and Africa are expected to occupy moderate growth due to rising awareness about scleral lens and ongoing developments in the healthcare sector. Additionally, initiatives undertaken by government bodies will fuel the growth of the market at an accelerated pace.
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Fortune Business Insights™ Pvt. Ltd.
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Scleral Lens Market 2022-2029 Growth, Share, Size, Worldwide Research, Opportunities and Industry Challenges
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