According to the latest report by IMARC Group “Contact Lenses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global contact lenses market size reached US$ 7.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.8 Billion by 2027, exhibiting a growth rate (CAGR) of 6% during 2022-2027.
Contact lenses are thin plastic or glass lenses that are worn directly on the cornea of the eye to improve vision. They are widely available as soft, hard, hybrid, bandage, and scleral variants with different sizes, designs, and colors. They are utilized as an alternative to eyeglasses as contact lenses are safe and effective in enhancing vision and protecting from ultraviolet (UV) rays. They are convenient and comfortable to wear and have simplified cleaning and disinfection. They assist in improving vision problems that are caused by various refractive errors, such as myopia, hyperopia, astigmatism, and presbyopia.
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Presently, the rising demand for contact lenses due to the increasing prevalence of various vision problems among individuals across the globe represents one of the primary factors bolstering the growth of the market. Besides this, the growing awareness about contact lenses and eye safety among the masses is offering a positive market outlook. Apart from this, the various benefits offered by contact lenses, such as improved appearance, being suitable for sportspersons, eliminating blur vision, and does not fog up, are strengthening the growth of the market. Moreover, the rising demand for cosmetic contact lenses for changing eye color and masking disfigured eyes is offering lucrative growth opportunities to industry investors. Furthermore, key players operating in this industry are introducing daily disposable silicone hydrogel (SiHyl) lenses for astigmatic patients, which is propelling the growth of the market.
Breakup by Material:
- Gas Permeable
- Silicone Hydrogel
Breakup by Design:
Breakup by Usage:
- Daily Disposable
- Frequently Replacement
Breakup by Application:
Breakup by Distribution Channel:
- Eye Care Practitioners
- Retail Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
The competitive landscape of the market has also been analyzed, with some of the top leading contact lenses manufacturers.
- Alcon Vision LLC
- Bausch & Lomb Incorporated
- Carl Zeiss AG
- Contamac Holdings Limited
- EssilorLuxottica SA
- Hoya Corporation
- Johnson & Johnson
- Menicon Co. Ltd.
- SEED Co. Ltd.
- The Cooper Companies Inc.
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