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Description
The global contact lenses market was valued at USD 7.5 billion in 2020 and is anticipated to grow at USD 10.4 billion by 2027 recording a CAGR of 6.8% during the forecast period 2021-2027. Contact Lenses Market is commonly used to repair vision issues such as presbyopia, hypermetropia/hyperopia, and astigmatism, as well as to compensate for them. Scratch-resistant materials, ultraviolet protection, and anti-refractive materials are coated on these lenses to provide the optimum therapeutic experience as well as comfort to the user. Contact lenses are classified as class II or class III medical devices by the US FDA, depending on how they are used. The FDA classifies regular use contact lenses as a class II medical device because they can endanger users if they are not used according to a physician’s instructions. Furthermore, contact lenses that are worn for an extended period of time are classified as class III medical devices. If used without the advice of a physician, these lenses provide a greater risk in terms of safety and health. Contact lenses are also used for aesthetic and cosmetic purposes to change the colour of the eyes, in addition to refractive lenses. People are very much following the trend of utilising contact lenses for cosmetic purposes as a result of social media exposure. Meanwhile, the contact lens industry is being driven by an increase in the number of cases of visual errors. In March 2018, Alcon has launched new US-specific packaging for AIR OPTIX plus HydraGlyde contact lenses.
