Contact Lenses Industry Overview
The global contact lenses market size was estimated at USD 17.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.
The increasing cases of refractive errors, such as myopia, hyperopia, presbyopia, and astigmatism, are the major factors driving the demand for contact lenses globally. The growing aging population, which is prone to eye disease has created the demand for contact lenses. In May 2023, during Vision Health Month, the Canadian Ophthalmological Society (COS) emphasized the significance of vision health care, especially among the senior citizens of the country.
Gather more insights about the market drivers, restrains and growth of the Contact Lenses Market
According to a survey conducted by the COS in 2022, 41% of the citizens have been diagnosed or have experienced at least one change in eye health during the last two years. A considerable number of research and development activities have been used in optics and optometry to advance technology. Advances, such as the launch of dynamic soft contact lenses integrated with advanced technology, have propelled the growth of the market. For instance, in July 2022, Mojo Vision announced that the company has conducted one-eye testing on its latest Mojo Lens prototype. It is an augmented reality (AR) contact lens, featuring medical-grade micro-batteries, micro-LED display, new hardware, and technologies, such as communications, eye tracking, and software.
The growth of the market is being further driven by the increasing popularity of cosmetic and colored lenses for aesthetic reasons. Moreover, contact lenses are being increasingly adopted by users with active lifestyles, athletes, and those involved in physical activities, for greater convenience and comfort. Furthermore, the market's leading players engage in launching innovative products, which are expected to drive product demand. In January 2021, Alcon Vision LLC, an eye care product manufacturer, launched PRECISION1 in the U.S., a daily disposable silicone hydrogel (SiHy) lens developed for astigmatic patients.
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Contact Lenses Market Segmentation
Grand View Research has segmented the global contact lenses market based onmaterial, design, application, distribution channel, usage, and region.
Contact Lenses Material Outlook (Revenue, USD Million, 2018 - 2030)
- Gas Permeable
- Silicone Hydrogel
- Hybrid
Contact Lenses Design Outlook (Revenue, USD Million, 2018 - 2030)
- Spherical Lens
- Toric Lens
- Multifocal Lens
- Others Lens
Contact Lenses Application Outlook (Revenue, USD Million, 2018 - 2030)
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-oriented
Contact Lenses Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- E-commerce
- Eye Care Professionals
- Retail
Contact Lenses Usage Outlook (Revenue, USD Million, 2018 - 2030)
- Daily Disposable
- Disposable
- Frequently Disposable
- Traditional (Reusable) Lenses
Contact Lenses Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Singapore
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Middle East Africa (MEA)
- UAE
- Saudi Arabia
Key Companies profiled:
- Essilor International S.A.
- Alcon Vision LLC
- Abbott Medical Optics, Inc.
- CooperVision, Inc.
- Hoya Corporation
- SynergEyes, Inc.
- X-Cel Specialty Contacts
- Johnson Johnson Vision Care, Inc.
- Medennium; Seed Co., Ltd.
- STAAR Surgical Company
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