{"id":57493,"date":"2023-04-25T09:24:24","date_gmt":"2023-04-25T13:24:24","guid":{"rendered":"https:\/\/www.reviewob.com\/?p=57493"},"modified":"2023-04-25T11:08:41","modified_gmt":"2023-04-25T15:08:41","slug":"how-much-will-the-cl-market-grow-by-2033","status":"publish","type":"post","link":"https:\/\/reviewob.com\/how-much-will-the-cl-market-grow-by-2033\/","title":{"rendered":"How Much Will the CL Market Grow By 2033?"},"content":{"rendered":"

April 26, 2023<\/strong><\/p>\n

\"Close<\/p>\n

The global contact lens market size is expected to hit around US$ 16.42 billion by 2033 from being valued at US$ 9.99 billion in 2023, and is poised to grow at a compound annual growth rate (CAGR) of\u00a0<\/strong>5.1 percent from 2023 to 2033, according to Fact.MR<\/strong><\/a>, a market research and competitive intelligence provider<\/p>\n

The contact-lens market growth has been augmented by the rising number of product offerings and innovations. Market participants are spending in research and development to create cutting-edge technology and increase their revenue share by gaining marketing access and regulatory clearances, Fact.MR notes.<\/p>\n

The contact lens market is anticipated to expand strongly throughout the forecast period since they are both disposable and reusable. Additionally, there are modest differences in the costs associated with buying disposable and reusable lenses, and sales of both lenses are likely to support the market to expand strongly in the upcoming years.<\/p>\n

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When purchasing contact lenses online and offline, customers all across the world look for professional guidance and radical treatment, Fact.MR notes. Consumers prefer to use insurance plans in developed nations, and they are ready to pay more for eyecare products. Since the products of their preferred brands are more affordable and comfortable, consumers also exhibit brand loyalty and are less inclined to move to the products of competing brands.<\/p>\n

\u201cMillennials have an Extremely High Risk of Myopia\u201d
\n<\/strong><\/span>The\u00a0demand for contact lenses<\/strong><\/a> has been growing rapidly as occurrences of eye conditions, including myopia, among people of all ages, are on the rise. Myopia is the most prevalent eye condition and is anticipated to lead to the largest expansion in this market. There is a growing trend of using technology for professional reasons, including computers and smartphones. The advent of digital technology has increased the number of career opportunities that call for prolonged use of computers and laptops that produce light potentially leading to myopia.<\/p>\n