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Contact Lenses Industry
The growth of contact lens industry has been dramatic over the last two decades especially after the emergence of soft lenses in 1980s. Even though the recession in 1980s and the discomfort from prolonged use of contact lenses did have a negative impact on the industry with dropout rate reaching a new high, things have changed tremendously since then with new technological advances. Now that the solution market has replaced the cumbersome three steps cleaning routine by one step routine, there has been a huge increase in the number of contact lens users around the globe. (Nichols, 2011)
According to the most recent estimates, global contact lens market is worth $6.1 billion out of which U.S. has the most dominant share of $2.1 million. The market is expected to increase dramatically in the coming few years and may hit more than $11 billion by 2015. (Global Industry Analysts, Inc.) The growth for this industry is expected to remain modest in 2011 with U.S. industry growing at 6%, while the rest of world growing at 5%.
Johnson and Johnson is the market leader in contact lens manufacturing...
CibaVision has 22% of the market, followed by CooperVision at 16% and Bausch & Lomb at 14%. (Nichols, 2011)
Despite the huge market share enjoyed by J & J, it is Ciba Vision which is expected to do see greater momentum in the coming years because of perceived innovation. Licensed eye practitioner see Ciba Vision as the company which is far more innovative than J&J even though the latter is coming out with new and better products more frequently.
The market for Daily disposable lenses is expected to grow more while the market for traditional contact lenses is likely to either remain stagnant or decline. There is variety of reasons for the growth of daily disposables and the most commonly cited are as follows:
Contact lenses worn overnight tend to leave eyes dry and may even cause infection'
A fresh pair of lenses every morning is something that most users desire
The amount of care needed for daily disposable is almost negligible compared to traditional lenses
A new pair offers more oxygen to eyes…
References
Jason J. Nichols, 2011. Market and survey data show that the industry remained largely unaffected in 2010 by the state of the economy. http://www.clspectrum.com/article.aspx?article=105083
Industry Report, 2011. Ophthalmic Goods. Retrieved online from http://business.highbeam.com/industry-reports/equipment/ophthalmic-goods
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Being against popular culture is particularly difficult, considering the temptations that society provides people with and the fact that one risks being excluded from a community if he or she does not act in accordance with the convictions respected by the group's members (Aoyagi, 151). Consumerism has been taken to a whole new level in Japan, as 2006 reports have shown that in spite of the fact that the country's
Optical Distortion The purpose of ODI was to develop a product that could partially blind chickens, which would lead to their consuming less and saving farmers money over the duration of the chickens' life. The product that ODI developed was a contact lens for chickens. This lens was to be an improvement upon the situation for chickens, which previously were debeaked by farmers to prevent the pecking order from getting out
Vision Company Background Company Overview Clear Vision is a premier manufacture of cutting edge personal vision solutions. The company's new breakthrough product, Liquid-Drop Contact Lenses, will create an entirely new niche in the eye care industry. The company is headquartered in the U.S. And manufactures their products domestically. The entire production facility is FDA approved and the company produces high quality goods that are all focused on the eye care industry. The
Organization Behavior Marketing Strategies for ODI Lens MARKETING PLAN Target Customers and Market Segmentation Major Target Groups Pricing Strategies for ODI Lens Introduce at the minimum possible price Convincing the potential farmers Selling and Promotional Strategies for ODI Lens Promotional mediums Forecasting Unit of Sales for the Next Three Years Optical Distortion Inc. is a small scale business corporation that manufactures contact lenses for chickens to impair their eyesight. The lenses manufactured by ODI are used by chicken farmers in order
Marketing Campaign Focus lenses core competency is provision of traditional contact lenses. In a bid to satisfy the needs of its increasing range of customers, it has undertaken to focus on creating liquid drop contact lenses. Its customers are transforming from wearing the traditional contact lenses to liquid drop lenses. It intends to use state of the art technology to create liquid lenses. Its opportunities and strengths are based on its