Friday, 2 November 2012
Figures revealed recently suggest that by 2018 the contact lens industry will be worth around £7.5bn, demonstrating that contact lenses really are the product of choice for vision correction.
The contact lens industry first began to take off in the 1980s, when lenses were first made for frequent disposal. Since then the market has grown by approximately 20 per cent every year, this rise is predicted to carry on as the technology in lenses continues to develop making them more user friendly.
The report entitled: ‘Contact Lenses and Solutions – A Global Strategic Business Report’ claims the growth in the contact lens industry is down to the fact that people prefer to wear contact lenses over glasses, because it makes them feel and look better. For this reason, it is not unexpected that the main audience behind contact lens are young adults and teenagers. However, lenses are growing in popularity among the older generations too, as a result of multifocal, bifocal and toric lenses being available on the market.
News this week from GfK one of the world’s leading research companies, reports that Asia is pushing the contact lens market forward experiencing a massive 7.3% growth on last year. Europe’s market grew by 3.2% and America’s by 4.8%.
The cosmetic contact lens industry in Korea has experienced and even greater jump with a 37% increase the last 12 months.
Jasmine Lee, director for lifestyle products at GfK Asia, said: “The good results attained by the strong performing countries, specifically Korea, Singapore and Malaysia, have rendered the region one of the fastest growing for contact lenses globally.”
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