Contact Lenses Market to Surpass US$ 10.8 Billion at a CAGR of 6% by 2027

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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Contact lenses are thin and transparent plastic discs that are worn in the eye to improve vision. They float on the tear film that encircles the cornea of the eye and corrects the vision complication caused by refractive errors resulting in blurring visions. They help improve various eyesight complications, such as myopia (nearsightedness), hyperopia (farsightedness), astigmatism (distorted vision), and presbyopia (issues in near vision caused by aging). They are commercially available as rigid gas permeable (RGP) lenses that allow oxygen to flow through the lens to the eyes and prevent the deposition of protein. They are also available with various tints, which are used to change the natural color of the lens and are majorly used for cosmetic purposes. Furthermore, they can be customized according to the size of the eye and the power of the eyesight of the user.

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Contact Lenses Market Trends and Drivers:

At present, the increasing utilization of contact lenses as they are lightweight, comfortable to wear, and cost-effective represents one of the primary factors influencing the market positively. Besides this, the growing occurrence of eyesight complications due to the excessive use of smartphones and laptops is offering a favorable market outlook. In addition, rising advancements in the treatment and diagnosis of vision-related complications is propelling the growth of the market. Moreover, the increasing number of businesses manufacturing contact lenses with eye-safe materials, which are appropriate for extensive usage is bolstering the growth of the market.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Material:

Gas Permeable
Silicone Hydrogel
Hybrid
Others

Breakup by Design:

Spherical
Toric
Multifocal
Others

Breakup by Usage:

Daily Disposable
Disposable
Frequently Replacement
Traditional

Breakup by Application:

Corrective
Therapeutic
Cosmetic
Prosthetic
Lifestyle-oriented

Breakup by Distribution Channel:

E-commerce
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.
SynergEyes
The Cooper Companies Inc.

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Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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