According to a research report titled, ‘Global Lenses for Myopia Control Market - Analysis By Lens Type, Contact Lens, Spectacle Lens, Age, Sales Channel, Distribution Channel, Region, Country (2021 Edition): Market Insights, Covid -19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global lenses for myopia control market was valued at USD 24943.84 million in 2019 and is anticipated to record massive compound annual growth during the forecast period 2020-2025.
 

As per the report findings, rising prevalence of myopia and high myopia coupled with significant increase in related vision impairment risks, including cataract, retinal damage, and glaucoma are boosting worldwide lenses for myopia control market growth.
 

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However, growing number of cases related to COVID-19 and nationwide lockdowns imposed across the world in order to control virus transmission is anticipated to hamper market growth in the upcoming years.
 

By lens type, global lenses for myopia control market is arrayed into contact lens (single vision, multi focal, spherical, progressive addition lenses and others) and spectacle lens (progressive, single vision, concave lens, and others)
 

Under the contact lens segment, spherical lens segment, followed by multifocal and progressive addition lenses (PAL), are projected to grow remarkably over the study duration. The growth is attributable to diversifying product portfolios maintained by leading companies, increasing consumer awareness, and geographical expansion strategies undertaken by firms.
 

In the spectacle lens segment, single vision segment held majority of the global lenses for myopia control industry share, followed by progressive and concave lenses. This can be ascribed to growing prevalence of myopia in children, especially among those in age brackets of 5-9 years and 10-14 years. Moreover, the risk factor has further augmented by increased on-screen time on smartphones and laptops.
 

Moving on to the sales channel, the market is split into ECPs, online, optical shops, and others. By distribution channel, the industry comprises of distributors, and direct from manufacturers.
 

On the regional front, North America, followed by Asia Pacific and Europe, is anticipated to contribute significantly to the overall market remuneration in the upcoming years. Rising prevalence of myopia due to excessive screen time, and expanding production capacity of manufacturers are contributing to the industry growth in North America. Moreover, presence of several global manufacturers in the region, as well as their rapid investments for expansion of product portfolios will add substantial traction to business developed.
 

Key contenders in global lenses for myopia control market space are Alcon AG, Johnson & Johnson, EssilorLuxottica S.A., Bausch Health Companies Inc., SEED Co. Ltd., The Cooper Companies Inc., Carl Zeiss A.G, Hoya Corp., SynergEyes Inc., and Lucid Korea Co. Ltd.