COSMETIC CONTACT LENS MARKET FORECASTED TO EXCEED $1.3 BILLION BY 2024

According to a new report by Global Market Insights, sales of cosmetic contact lenses are projected to surpass $1.3 billion by 2024, largely due to increasing usage of the products in the entertainment industry.

According to a new report by Global Market Insights, sales of cosmetic contact lenses are projected to surpass $1.3 billion by 2024, largely due to increasing usage of the products in the entertainment industry.

Global Market Insights, a leading international market research and consulting provider, has pointed to a number of drivers of growth which are expected to cause a surge in sales in the cosmetic lens market. The need for more dramatic makeup in the entertainment industry is considered a major contributing factor to market growth, along with rising demand for coloured contact lenses among customers, and increased consumer purchasing power as a result of growing disposable income.

 

The report’s findings also highlight the effect of online marketing sales, as well as the loosening of regulatory approval strictness as significant market boosters. Circle cosmetic lens products commanded a staggering 70% of revenue share in 2017, a statistic attributed to the diverse range of designs available and the products’ natural appearance. The popularity of RGP type cosmetic lenses is rising as well and the segment is predicted to experience growth of around 6% over the next six years

 

Such exciting market development will surely inject huge excitement and enthusiasm into the industry ahead of the Dubai Optical Show – Vision X from November 13th to 15th in Dubai World Trade Centre.

 

Courtesy: Globe Newswire




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