Contact Lenses Market to Hit USD 17,400 million By 2030

Global Contact Lenses market size in 2021 was USD 9,600 Million, market value to grow to USD 17,400 Million by 2030 at 6.9% CAGR as per Acumen Research and Consulting

Contact Lenses Market Overview

The contact lenses market is growing at a good growth rate driven by advances in technology and increasing consumer demand. With a wide range of options available, including daily, weekly, and monthly disposables, as well as traditional hard and soft lenses, consumers have more choices than ever before. The contact lenses market is a dynamic and ever-evolving space, with new products and technologies being developed all the time. As the industry continues to grow and evolve, it is likely that we will see even more innovative and advanced lenses being introduced in the years to come.

One of the key drivers of this market is the growing popularity of daily disposable lenses. These lenses are convenient and easy to use, and they eliminate the need for lens care and cleaning solutions. They also offer a high level of hygiene and comfort, making them an attractive option for many consumers.

Another important trend in the contact lenses market is the shift towards multifocal and toric lenses. These lenses are designed for individuals with presbyopia and astigmatism, respectively, and they offer a more customized and accurate fit for these individuals.

In addition to these trends, the market is also being impacted by a growing focus on sustainability. Many consumers are looking for contact lenses that are made from environmentally-friendly materials and that can be easily recycled.

Market Segmentation

Product Type:

• Soft lenses: Most commonly used
• Hard lenses: used for specific vision conditions such as keratoconus
• Hybrid lenses: combination of soft and hard lenses, offering the benefits of both.

Usage:

• Daily wear
• Extended wear

Material:?

• Hydrogel: They are soft and flexible
• Silicone hydrogel: Allows more oxygen to pass through to the eye
• Rigid gas permeable (RGP): they are hard and gas-permeable material

Prescription:

• Corrective: used to correct vision problems such as nearsightedness, farsightedness, and astigmatism.
• Non-corrective lenses: used for cosmetic or therapeutic purposes, such as colored lenses.

Distribution channel:

• Online including e-commerce platforms and company websites and offline distribution channels.
• Offline including brick-and-mortar stores, optometrist offices, and others.

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Why the Market is Growing

• Advances in technology: The development of new materials and manufacturing techniques has led to the creation of more comfortable and efficient contact lenses making it possible to create specialized lenses for different vision conditions and lifestyles.
• Increasing consumer demand: As the population grows and ages, the demand for contact lenses is also increasing. Many people find wearing glasses inconvenient and some may even think wearing glasses makes them look unattractive.?
• Convenience: Daily disposable contact lenses have become increasingly popular as they are easy to use and eliminate the need for lens care and cleaning solutions.
• Customization: Multifocal and toric lenses are becoming more popular as they offer a more customized and accurate fit for individuals with presbyopia and astigmatism, respectively.
• Sustainability: The growing focus on sustainability has led to an increase in demand for contact lenses made from environmentally-friendly materials and that can be easily recycled.
• Rise in online distribution channels has made it easier for consumers to purchase contact lenses online, thus increasing the market growth.
• Cost-effective: The affordable prices of contact lenses and the availability of different types of products have made them accessible to a larger population, thus increasing contact lenses market share.

Market Regional Overview

• North America is the leading region in the contact lenses market share, driven by the high disposable income of consumers and the presence of a large number of key players in the region. The U.S. is the largest market in North America, with a significant proportion of the population suffering from vision impairments, and they are more likely to opt for corrective lenses.
• Europe is also an important market for contact lenses, with a high demand for daily disposable and multifocal lenses. The region has a large population of older individuals who are more likely to require corrective lenses, and this is expected to drive market growth.
• Asia Pacific is a rapidly growing market for contact lenses, with a large population base and increasing awareness of the benefits of contact lenses. The region has a rapidly growing population and a rapidly expanding middle class, which is expected to drive market growth in the coming years. China and India are the major markets in this region.
• The Latin American and MEA markets are also expected to grow at a steady rate, driven by a growing population and increasing awareness of the benefits of contact lenses. Brazil is the largest market in the region, and its population is projected to continue growing over the next decade, which will lead to increased demand for contact lenses.

Market Players

The major players in the Contact Lenses market include:

• Johnson & Johnson Vision Care, Inc.
• CooperVision , Inc.
• Alcon (by 诺华 AG)
• 博士伦 (by Valeant Pharmaceuticals International, Inc.)
• CIBA Vision (by Alcon )
• Hoya Vision Care
• Essilor Group S.A.
• Menicon NL ., Ltd.
• ZEISS Group AG
• @Sauflon Pharmaceuticals Ltd
• Hydrogel Vision Corp aquired by Clerio Vision, Inc.
• GKB Opticals
• M?lnlycke Health Care HEALTH CARE AB
• Contamac Ltd
• CooperVision
• @ClearLab
• @Ocular Sciences, Inc. by OSRX?
• @Wesley Jessen Visioncare, Inc.

These companies have a focused vision on new product launches, collaborations, and partnerships for expanding the market presence and increase the revenuez.

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