The Philippines cosmetic contact lenses market is anticipated to grow at a CAGR of 4.2% during the forecast period (2022-2028). The Philippines cosmetic contact lenses market is growing due to rising fashion trends in this region. The increasing popularity of stylish products with attractive colors, shades, and textures for enhancing eye appearance is boosting the growth of the Philippines cosmetic contact lenses market. The increasing penetration of social platforms, online media, and entertainment is strongly influencing modern eyewear trends in the region and is further driving the demand of the market. The changing consumer preference towards enhancing eye colors to enhance the facial look and style especially in the fashion industry is propelling the demand of the market. The changing consumer preference and the rapid urbanization in this region are increasing the demand of the market. The rise in disposable income and the increasing consumer expenditure on fashion and accessories are further boosting the demand of the market in this region. The major market manufacturers are investing in research and development to improve the quality standards for lenses owing to high consumer usage and the risk of infection associated while wearing the product. Advancement in cosmetic lenses for oxygen permeability through lenses, by introducing soft polymers materials in the manufacturing process is further driving the growth of the Philippines cosmetic contact lenses market.
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Some major players in the market include Bausch & Lomb Inc., Cooper Vision, Johnson & Johnson Vision Care, Inc., Menicon Co., Ltd., Neo Vision Technologies, Novartis AG, and WEICON Inc., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,
- In December 2021, Onion Global Ltd. launched the joint venture Sunwah Ocean, between Onion Global Ltd. and SunwahChuanyu, that launch private label contact lens brand called “Eyelicious” partnering with EYEMERA, a Korean specialized contact lens manufacturer.
- In August 2019, Alcon Vision LLC, launched PRECISION1 as the first mainstream daily disposable contact lens to use SMARTSURFACE Technology to deliver lasting visual performance and comfort.
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Competitive Landscape-
Bausch & Lomb Inc., CooperVision, Johnson & Johnson Vision Care, Inc., Menicon Co., Ltd., Neo Vision Technologies, Novartis AG, and WEICON Inc., among others.
By Type
- RGP
- Soft Contact
- Hybrid Contact
By Product
- Coloured
- Circle
By Material
- Hydrogel
- Polymers
By Design
- Spherical
- Toric
- Bifocal & Multifocal
By Usage
- Daily Disposable
- Weekly Disposable
- Monthly Disposable
- Annual
By Distribution Channel
- Optical Stores
- Online Stores
- Retail Stores
- Independent Brand Showrooms
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Scope of the Report
The research study analyzes the Philippines Cosmetic Contact Lenses industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Philippines Cosmetic Contact Lenses Market Report
1. What was the Philippines Cosmetic Contact Lenses Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Philippines Cosmetic Contact Lenses Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Philippines Cosmetic Contact Lenses Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Philippines Cosmetic Contact Lenses market.
- The market share of the Philippines Cosmetic Contact Lenses market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Philippines Cosmetic Contact Lenses market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Philippines Cosmetic Contact Lenses market.
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