Contact Lenses Market: Global Industry Analysis and Forecast (2022-2029)

Contact Lenses market was valued at US$ 8.05 Bn. in 2021. The Global Contact Lenses Market size is estimated to grow at a CAGR of 7.31% over the forecast period.

Contact Lenses Market Overview:

Contact lenses are thin plastic lens placed on the surface of the eyes to correct and clear the vision. By adjusting the focusing power of the cornea and lens of the eye, contact lenses can help correct refractive defects. When used carefully and under the right supervision, contacts are a safe and efficient technique to improve vision. Depending on eyes and the way of living, they may be a viable alternative to glasses. Contact Lenses Market To know about the Research Methodology:-Request Free Sample Report The report explores the Contact Lenses Market's segments (usage, design, material, color variation, application, distribution channel). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Contact Lenses Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Contact Lenses Market's contemporary competitive scenario.

Contact Lenses Market Dynamics:

Rising eye disorders in elderly person Over the forecast period, the demand for contact lenses is anticipated to be driven by the growing trend among young people to improve their aesthetic appearance and the growing elderly population. Among the elderly, the retinal loss is a serious health risk. Age-related cataracts, macular degeneration, glaucoma, and diabetic retinopathy are the most frequent causes of visual loss. As eye-related ailments are becoming more common among the elderly, there is an increase in the need for visual health services and goods. Refractive errors are another factor contributing to the decline of vision in the elderly (nearsightedness and farsightedness). The majority of diseases and ailments that result in reduced vision or blindness can be prevented or treated with effective, well-proven therapies, and refractive surgery, glasses, or contact lenses can restore normal vision. Technically advancement in products Manufacturers and retailers of eyewear, including frames, lenses, and other equipment for eyesight, operate in a highly competitive global market. As manufacturers include more cutting-edge and unique features into their products, demand for vision care items will rise. In order to improve demand in the industry, businesses have been producing cutting-edge eye care items like soft contact lenses during the past few years. Like- Johnson & Johnson Vision's contact lens that automatically darkens when exposed to strong light has FDA approval. The lens features a photochromic component that controls visible light entering the eye as well as shields the eyes from blue light and UV rays. Improve sports performance In comparison to eyeglasses, contact lenses have a number of benefits, such as improved peripheral vision, an unrestricted field of vision, and a lower risk of getting splattered. In order to reduce the danger of damage, provide better compatibility with safety equipment, and improve athletes' performance, contact lenses are becoming more and more popular. People who are also like to do physical activities in their daily life (like- Gym, Yoga, Zumba) lenses are very helpful and comfortable for them. Rising awareness in physical activities also enhancing the growth of lens market. A number new therapies have introduced in eye treatment which will remove the necessity to use contact lenses in future. These new technologies will restrain the market. So many lens wearers have experienced side effects due to use of lens for a longer time, sometimes it turns too much horrible that some people lost their eyesight. These reasons will obstruct the contact lens market. In order to stop the evolution of nearsightedness in children, special glasses have been developed. They aid in the treatment of keratoconus and other abnormalities of the cornea. Additionally, the major players are producing ultraviolet (UV) blocking lenses to shield eyes from sunlight, which can result in cataracts and other eye issues. Moreover, they are introducing cutting-edge colored lenses for cosmetic use, which will give more opportunity to grow the market. Contact lens use is lower in developing nations than in industrialized nations, despite the fact that they are necessary for vision correction and offer a higher quality of life than glasses. Since many people who wear glasses are unaware of contact lenses. To overcome barriers to contact lens wear, contact lens education and visual performance tests using trial fittings on prospective candidates may be helpful. COVID-19 Impact on Contact Lenses Market: Due to the desire to avoid wearing bulky glasses and face masks, worries about lens fogging, and attention to new alternatives for virtual meetings, contact lenses experienced strong uptake during the COVID-19 epidemic. Clinicians observed a significant number of requests for first-time contact lens fittings from a wide range of users, including office employees, medical professionals, and company executives. The requirement to end dependence on spectacle correction during work-related tasks was credited with the high acceptance among first-time wearers. In addition, the market saw a significant increase in contact lens dropout cases as a result of worries about the COVID-19 infection risk, the need to avoid touching one's face with one's hands, dry eye syndrome, and the possibility of remote work that reduced the necessity for contact lenses.

Contact Lenses Market Segment Analysis:

Based on Design, Spherical segment is dominating the market with highest CAGR during the forecast period. Spherical lenses have a 'bubbled' appearance because they are curved both vertically and horizontally. In contrast to flat lenses, these lenses improve peripheral vision. As a result, there is less distortion and glare than with a flat lens, and you can see more because the lens has a larger surface area. They typically have huge frames. The main benefits of spherical lenses in optical systems are their more affordable production and simpler surface design. They are useful for numerous imaging applications in a variety of markets because of these advantages. When light collimation and monochromatic illumination processes need for infinite or almost infinite conjugate imaging qualities, plano-convex lenses are frequently used. Plano-concave lenses are appropriate for optical applications requiring the expansion of the light beam, the projection of light, or the focal length of the system. Contact Lenses Market Based on Usage, Daily wear segment is dominating the market with highest CAGR during the forecast period. Daily disposables are more comfortable for the wearer because they are much thinner. The lenses' highwater content may be maintained because to their thin structure. This indicates that they typically stay moist all day long. Due to their convenience, daily disposable contacts are preferred by the majority of individuals. Eyes will be healthier if someone use contacts every day. There is no chance of eye infection because the contacts are sterile. The oxygen that our eyes require comes directly from the surrounding air. Daily disposable contacts allow more airflow to the eye than other types of contacts do because of their thin structure. Less irritation and dryness result from this. Daily disposables are also recommended for those who have sensitive eyes or allergies. In actuality, about 30% of people who wear lenses choose for daily wear contacts. Based on Material, Silicone hydrogel segment is dominating the market with highest CAGR during the forecast period. The majority of extended wear contact lenses are comprised of silicone hydrogel, a substance that blends silicone and the water-absorbent plastic of soft lenses. The hydrogel plastic is given silicone to produce a lens that retains moisture and permits more oxygen to pass through the contact lens and into the eye. Because of this, using contact lenses doesn't harm the eyes. This component was introduced to extended wear contact lenses so that the eye would receive more moisture and oxygen. Anyone who wears contacts all the time, whether all day and all night or for days at a time, needs contacts that allow their eyes to breathe. This feature for the best contact is provided by the silicone attachment to the lens. Based on Colour Variation, Opaque Contact lenses segment is dominating the market with highest CAGR during the forecast period. The tint that fully alters the colour of the eyes is opaque. Those with darker eye colours may appear much lighter when wearing this shade. Visibility tint is typically a very modest light blue or green color. Enhancement tint doesn't actually change the color of your eyes; it just intensifies the color of your original eyes. Based on Distribution Channel, Retail Stores segment is dominating the market with highest CAGR of 60.2% during the forecast period. Due to manufacturers' initiatives to develop cutting-edge goods at extremely competitive costs for retail shops, which are again supplemented with additional discounts provided by retail sellers, the retail store category is expanding. Additionally, the expansion of this sector is aided by the rapid proliferation of retail pharmacies in developed nations. Independent eye-care practitioners distribute the vast majority of produced lenses. As a result, online retailing has the smallest proportion. Market penetration in the ECP channel is therefore a critical chance to make profits.

Contact Lenses Market Regional Insights:

The North America region dominated the market with highest share in 2021. The North America region is expected to witness significant growth at a CAGR of XX% through the forecast period. In 2020, North America accounted for the lion's share of the global market for contact lenses thanks to the region's growing elderly population and increased incidence of eye conditions. Additionally, the region's residents' sedentary lifestyles have raised the risk of them acquiring visual problems due to the widespread use of computers, televisions, and smartphones. The mentioned factors have led to an increase in contact lens demand. Well-organized healthcare systems have been built in the US and Canada. Additionally, these systems support innovation and research. International market participants are being encouraged to enter the United States and Canada by the supportive government policies. As a result, there are numerous international market players in these nations. Myopia prevalence rises with age. During the forecasting period, it's expected that myopia would increase significantly among the world's population. The risk of myopia is very high among youngsters in Asia-pacific. High myopia has been more common among high school pupils in India over the past few years, and this could pose a serious public health issue in the near future. Therefore, businesses are introducing unique contact lenses to stop the evolution of myopia in children, which is anticipated to aid market participants in growing their businesses nationwide. According to the European Blind Union, age-related eye ailments are the leading cause of sight loss in Europe. These conditions are brought on by an aging population with a range of vision issues, increased disposable expenditures, as well as an increase in eye injuries and diseases linked to vision. The desire of consumers for contact lenses with appealing colors, tints, and textures to enhance eye appearance is another factor driving the need for contact lenses in the nation. The objective of the report is to present a comprehensive analysis of the Contact Lenses Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Contact Lenses Market dynamic, structure by analyzing the market segments and projecting the Contact Lenses Market size. Clear representation of competitive analysis of key players by Vehicle Product Type, price, financial position, product portfolio, growth strategies, and regional presence in the Contact Lenses Market make the report investor’s guide.

Contact Lenses Market Scope: Inquire before buying

Global Contact Lenses Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 8.05 Bn.
Forecast Period 2022 to 2029 CAGR: 7.31 % Market Size in 2029: US$ 13.19 Bn.
Segments Covered: by Usage • Daily Wear • Extended Wear • Traditional Wear
by Design • Spherical • Toric • Multifocal • Monovision • Cosmetic
by Material • Silicone hydrogel • Hydrogel • Gas permeable • Hybrid • PMMA
by Colour Variation • Opaque contact lenses • Enhanced contact lenses • Visibility tinted contact lenses
by Application • Conventional • Orthokeratology • Decorative
by Distribution Channel • Retail stores • Hospitals & clinics • E-commerce

Contact Lenses Market by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Contact Lenses Market Key Players

• Bausch • Carl Zeiss Meditec AG • Johnson & Johnson • HOYA Corporation • The Cooper Companies • Seed Co., Ltd. • EssilorLuxottica • BenQ Materials Corporation • Menicon Co., Ltd. • Essilor International S.A. • Alcon Vision LLC • Abbott Medical Optics, Inc. • CooperVision, Inc. • SynergEyes, Inc. • X-Cel Specialty Contacts • Medennium • STAAR Surgical Company Frequently Asked Questions: 1] What segments are covered in the GlobalContact Lenses Market report? Ans. The segments covered in the Contact Lenses Market report are based on usage, design, material, colour variation, application, and distribution channel. 2] Which region is expected to hold the highest share in the Contact Lenses Market? Ans. North America region is expected to hold the highest share in the Contact Lenses Market. 3] What is the market size of the Contact Lenses Market by 2029? Ans. The market size of the Contact Lenses Market by 2029 is expected to reach US$ 13.19 Bn. 4] What is the forecast period for the Contact Lenses Market? Ans. The forecast period for the Contact Lenses Market is 2022-2029. 5] What was the market size of the Contact Lenses Market in 2021? Ans. The market size of the Contact Lenses Market in 2021 was valued at US$ 8.05 Bn.
1. Global Contact Lenses Market: Research Methodology 2. Global Contact Lenses Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Contact Lenses Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Contact Lenses Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Contact Lenses Market Segmentation 4.1 Global Contact Lenses Market, By Usage (2021-2029) • Daily Wear • Extended Wear • Traditional Wear 4.2 Global Contact Lenses Market, By Design (2021-2029) • Spherical • Toric • Multifocal • Monovision • Cosmetic 4.3 Global Contact Lenses Market, By Material (2021-2029) • Silicone hydrogel • Hydrogel • Gas permeable • Hybrid • PMMA 4.4 Global Contact Lenses Market, By Colour Variation (2021-2029) • Opaque contact lenses • Enhanced contact lenses • Visibility tinted contact lenses 4.5 Global Contact Lenses Market, By Application (2021-2029) • Conventional • Orthokeratology • Decorative 4.6 Global Contact Lenses Market, By Distribution Channel (2021-2029) • Retail stores • Hospitals & clinics • E-commerce 5. North America Contact Lenses Market (2021-2029) 5.1 North America Contact Lenses Market, By Usage (2021-2029) • Daily Wear • Extended Wear • Traditional Wear 5.2 North America Contact Lenses Market, By Design (2021-2029) • Spherical • Toric • Multifocal • Monovision • Cosmetic 5.3 North America Contact Lenses Market, By Material (2021-2029) • Silicone hydrogel • Hydrogel • Gas permeable • Hybrid • PMMA 5.4 North America Contact Lenses Market, By Colour Variation (2021-2029) • Opaque contact lenses • Enhanced contact lenses • Visibility tinted contact lenses 5.5 North America Contact Lenses Market, By Application (2021-2029) • Conventional • Orthokeratology • Decorative 5.6 North America Contact Lenses Market, By Distribution Channel (2021-2029) • Retail stores • Hospitals & clinics • E-commerce 5.7 North America Contact Lenses Market, by Country (2021-2029) • United States • Canada • Mexico 6. Asia Pacific Contact Lenses Market (2021-2029) 6.1. Asia Pacific Contact Lenses Market, By Usage (2021-2029) 6.2. Asia Pacific Contact Lenses Market, By Design (2021-2029) 6.3. Asia Pacific Contact Lenses Market, By Material (2021-2029) 6.4. Asia Pacific Contact Lenses Market, By Colour Variation (2021-2029) 6.5. Asia Pacific Contact Lenses Market, By Application (2021-2029) 6.6 Asia Pacific Contact Lenses Market, By Distribution Channel (2021-2029) 6.7 Asia Pacific Contact Lenses Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Contact Lenses Market (2021-2029) 7.1 Middle East and Africa Contact Lenses Market, By Usage (2021-2029) 7.2. Middle East and Africa Contact Lenses Market, By Design (2021-2029) 7.3. Middle East and Africa Contact Lenses Market, By Material (2021-2029) 7.4. Middle East and Africa Contact Lenses Market, By Colour Variation (2021-2029) 7.5. Middle East and Africa Contact Lenses Market, By Application (2021-2029) 7.6 Middle East and Africa Contact Lenses Market, By Distribution Channel (2021-2029) 7.7. Middle East and Africa Contact Lenses Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Contact Lenses Market (2021-2029) 8.1. Latin America Contact Lenses Market, By Usage (2021-2029) 8.2. Latin America Contact Lenses Market, By Design (2021-2029) 8.3. Latin America Contact Lenses Market, By Material (2021-2029) 8.4. Latin America Contact Lenses Market, By Colour Variation (2021-2029) 8.5. Latin America Contact Lenses Market, By Application (2021-2029) 8.6 Latin America Contact Lenses Market, By Distribution Channel (2021-2029) 8.7. Latin America Contact Lenses Market, by Country (2021-2029) • Brazil • Argentina • Rest of Latin America 9. European Contact Lenses Market (2021-2029) 9.1. European Contact Lenses Market, By Usage (2021-2029) 9.2. European Contact Lenses Market, By Design (2021-2029) 9.3. European Contact Lenses Market, By Material (2021-2029) 9.4. European Contact Lenses Market, By Colour Variation (2021-2029) 9.5. European Contact Lenses Market, By Application (2021-2029) 9.6 European Contact Lenses Market, By Distribution Channel (2021-2029) 9.7. European Contact Lenses Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 10. Company Profile: Key players 10.1. Bausch 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Carl Zeiss Meditec AG 10.3 Johnson & Johnson 10.4 HOYA Corporation 10.5 The Cooper Companies 10.6 Seed Co., Ltd. 10.7 EssilorLuxottica 10.8 BenQ Materials Corporation 10.9 Menicon Co., Ltd. 10.10 Essilor International S.A. 10.11 Alcon Vision LLC 10.12 Abbott Medical Optics, Inc. 10.13 CooperVision, Inc. 10.14 SynergEyes, Inc. 10.15 X-Cel Specialty Contacts 10.16 Medennium 10.17 STAAR Surgical Company

About This Report

Report ID 20661
Category Consumer Goods & Services
Published Date July 2022
Updated Date
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