Contact Lenses Market is Projected to reach USD 13.02 billion by 2027– Arizton 

The contact lenses market is expected to grow at a CAGR of over 5.5% during the period 2022−2027.   
 
Key Highlights 
 
• The corrective segment accounted for the major share by applications; However, the cosmetic segment is growing at a faster rate with 8.49% in the market.
• Daily disposable segment accounted for the major share by usage, and it is growing at a faster rate. The adoption of daily disposable contact lenses is high among the customers due to the ease of use and maintenance free
• The retail stores accounted for the major share by the distribution; however online stores are expected to grow at a faster rate in the market. The preference of e-commerce and omnichannel approach is increasing the share of online segment.
• Silicone hydrogel dominated the materials segment and is expected to grow at a faster rate. Due to increased comfort and less infection for the user, the adoption of silicone hydrogel-based contact lenses is increasing.
• North America dominated the market by geography; however, APAC is growing at a faster rate with CAGR of 6.97%. Due to increased adoption of daily disposable contact lenses among the developed countries the usage of contact lenses increased drastically.
• The COVID-19 pandemic had a negative impact on the market. There was a huge drop out of customers using the contact lenses during the COVID-19 pandemic. Post pandemic the number of contact lenses users are expected to increase globally.


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Contact Lenses Market - Segmentation Analysis

• The silicone hydrogel contact lens segment is expected to witness significant growth during the forecast period. Moreover, ACUVUE ADVANCE became the leading silicone hydrogel contact lens in the US and the second most prescribed contact lens in the country. Therefore, this segment is expected to create lucrative opportunities for the vendors in the contact lenses market.
• The adoption of daily disposable contact lenses is relatively higher in developed countries than in developing countries due to the high cost of the product. Many vendors such as Bausch & Lomb and TerraCycle have launched recycling programs to minimize the addition of waste associated with daily disposable lenses.
• Online store-based purchasing is increasing due to the rise in internet users. Most contact vendors are investing in digital solutions and direct-to-consumer marketing campaigns such as advertising, promotions, and various marketing channels to accelerate their growth. Thereby, the online distribution channels segment is gaining high traction in the contact lenses market.

Market Segmentation by Material
• Silicone Hydrogel
• Hydrogel
• Gp/Rgp
• Others
Market Segmentation by Application
• Corrective
• Therapeutic
• Cosmetic
Market Segmentation by Design
• Spherical
• Toric
• Multifocal
Market Segmentation by Usage
• Daily Disposable
• Frequent Replacement
Market Segmentation by Distribution Channel
• Retail Stores
• Hospital And Eye Care
• Online Stores
Market Segmentation by Geography
• North America
• US
• Canada
• APAC
• Japan
• China
• India
• South Korea
• Australia
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• South Africa
• Saudi Arabia
• UAE

Contact Lenses Market - Competitive Analysis 

The contact lenses market is highly concentrated with key players accounting for considerable shares. Most top brands in the market are anticipated to retain their dominant position in the in the upcoming years as major companies will continue to witness steady revenue growth. Moreover, several established vendors in the market have formed strategic alliances and entered into co-marketing agreements to increase the penetration of their contact lenses and enhance their competitiveness. For instance, Johnson & Johnson is a leading vendor in the global contact lenses market. The company’s growth is primarily being driven by the sales of its daily disposable lenses in the ACUVUE OASYS contact lenses category. In 2021, Johnson & Johnson Vision announced its new CE-marked ACUVUE OASYS MULTIFOCAL contact lens to increase their presence in the market.

Key Vendors
• Johnson & Johnson Vision Care
• The Cooper Companies
• Alcon
• Bausch & Lomb
Other Prominent Vendors
• Bescon
• BenQ Materials
• ClearLab
• CAMAX OPTICAL
• Clerio Vision
• Contamac
• Essilor
• Ginko International
• Hoya
• INTEROJO
• Menicon
• Medios
• NeoVision
• Oculus
• Polytouch
• Sensimed
• St. Shine Optical
• Shanghai Weicon Optical
• SEED
• Solótica Indústria e Comércio
• SynergEyes
• UltraVision CLPL
• Visioneering Technologies
• X-Cel Specialty Contacts
• ZEISS

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Contact Lenses Market – Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market Segmentation by Application
4.3.2 Market Segmentation by Material
4.3.3 Market Segmentation by Usage
4.3.4 Market Segmentation by Design
4.3.5 Market Segmentation by Distribution
4.3.6 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Impact of Covid-19

8 Market Opportunities & Trends
8.1 Introduction of Hi-Tech Contact Lenses
8.2 Increasing Use of Silicone Hydrogel Contact Lenses
8.3 High Consumer Preference for Premium Cosmetic Lenses

9 Market Growth Enablers
9.1 Technological Advances in Contact Lenses
9.2 Increasing Frequency of Product Launches
9.3 Expanding Target Population

10 Market Restraints
10.1 High Cost of Contact Lenses
10.2 Adverse Events Associated with Contact Lenses
10.3 Low Accessibility, Affordability, & Financial Exclusion for Large Patient Pool

11 Market Landscape
11.1 Market Overview
11.1.1 Historical Data 2018-2020
11.2 Market Size & Forecast
11.3 Five Forces Analysis
11.3.1 Threat of New Entrants
11.3.2 Bargaining Power of Suppliers
11.3.3 Bargaining Power of Buyers
11.3.4 Threat of Substitutes
11.3.5 Competitive Rivalry

12 Material
12.1 Market Snapshot & Growth Engine
12.1.1 Market Overview
12.2 Silicone Hydrogel Contact Lenses
12.2.1 Market Overview
12.2.2 Market Size & Forecast
12.3 Hydrogel Contact Lenses
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.4 Gas Permeable /Rigid Gas Permeable Contact Lenses
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.5 Other Contact Lenses
12.5.1 Market Overview
12.5.2 Market Size & Forecast

13 Application
13.1 Market Snapshot & Growth Engine
13.1.1 Market Overview
13.2 Corrective Contact Lenses
13.2.1 Market Overview
13.2.2 Market Size & Forecast
13.2.3 Corrective Contact Lenses: Geography Segmentation
13.3 Therapeutic Contact Lenses
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Therapeutic Contact Lenses: Geography Segmentation
13.4 Cosmetic Contact Lenses
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Cosmetic Contact Lenses: Geography Segmentation

14 Design
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Spherical
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Spherical Contact Lenses: Geography Segmentation
14.4 Toric
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Toric Contact Lenses: Geography Segmentation
14.5 Multifocal
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Multifocal Contact Lenses: Geography Segmentation

15 Usage
15.1 Market Snapshot & Growth Engine
15.1.1 Market Overview
15.2 Daily Disposable
15.2.1 Market Overview
15.2.2 Market Size & Forecast
15.2.3 Daily Disposable Contact Lenses: Geography Segmentation
15.3 Frequent Replacement
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Frequent Replacement Contact Lenses : Geography Segmentation

16 Distribution Channel
16.1 Market Snapshot & Growth Engine
16.1.1 Market Overview
16.2 Retail Stores
16.2.1 Market Overview
16.2.2 Market Size & Forecast
16.2.3 Retail Stores: Geography Segmentation
16.3 Hospital & Eye Clinics
16.3.1 Market Overview
16.3.2 Market Size & Forecast
16.3.3 Hospital & Eye Clinics: Geography Segmentation
16.4 Online Stores
16.4.1 Market Overview
16.4.2 Market Size & Forecast
16.4.3 Online Stores Contact Lenses: Geography Segmentation

17 Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview

18 North America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 North America: Application
18.4 North America: Design
18.5 North America: Usage
18.6 North America: Distribution Channel
18.7 Key Countries
18.7.1 The US: Market Size & Forecast
18.7.2 Canada: Market Size & Forecast

19 APAC
19.1 Market Overview
19.2 Market Size & Forecast
19.3 APAC: Application
19.4 APAC: Design
19.5 APAC: Usage
19.6 APAC: Distribution Channel
19.7 Key Countries
19.7.1 Japan: Market Size & Forecast
19.7.2 China: Market Size & Forecast
19.7.3 India: Market Size & Forecast
19.7.4 South Korea: Market Size & Forecast
19.7.5 Australia: Market Size & Forecast

20 Europe
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Europe: Application
20.4 Europe: Design
20.5 Europe: Usage
20.6 Europe: Distribution Channel
20.7 Key Countries
20.7.1 Germany: Market Size & Forecast
20.7.2 France: Market Size & Forecast
20.7.3 The UK: Market Size & Forecast
20.7.4 Spain: Market Size & Forecast
20.7.5 Italy: Market Size & Forecast

21 Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Latin America: Application
21.4 Latin America: Design
21.5 Latin America: Usage
21.6 Latin America: Distribution Channel
21.7 Key Countries
21.7.1 Brazil: Market Size & Forecast
21.7.2 Mexico: Market Size & Forecast
21.7.3 Argentina: Market Size & Forecast

22 Middle East & Africa
22.1 Market Overview
22.2 Market Size & Forecast
22.3 Middle East & Africa: Application
22.4 Middle East & Africa: Design
22.5 Middle East & Africa: Usage
22.6 Middle East & Africa: Distribution Channel
22.7 Key Countries
22.7.1 Turkey: Market Size & Forecast
22.7.2 South Africa: Market Size & Forecast
22.7.3 Saudi Arabia: Market Size & Forecast
22.7.4 The UAE: Market Size & Forecast

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