Press release
Disposable Contact Lenses Market to Hit $13.45 Billion by 2029, More than $4 Billion Opportunities in the Next 6 Years - Arizton
Disposable Contact Lenses Market Research Report by Arizton
According to Arizton's latest research report, the global disposable contact lenses market [https://www.arizton.com/market-reports/disposable-contact-lenses-market] is growing at a CAGR of 9.10% during 2023-2029.
Looking for More Information? Click: [https://www.arizton.com/market-reports/disposable-contact-lenses-market]
Report Scope:
Market Size - Revenue (2029): $13.45 Billion
Market Size - Revenue (2023): $7.98 Billion
CAGR (2023-2029): 9.10%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Usage Type, Material, Application, Design, Distribution Channel and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
Market Overview
In 2023, the United States dominated the North American disposable contact lenses market, holding a substantial share of the global market. The U.S. was the largest revenue contributor, driven by a growing number of contact lens users and a shift toward more convenient eye care solutions. This increase in demand for disposable contact lenses is linked to the rising prevalence of common eye conditions such as myopia, presbyopia, and astigmatism.
The Centers for Disease Control and Prevention (CDC) reported millions of contact lens wearers in the U.S. The use of daily disposable lenses has seen a steady rise, with prescription rates increasing over the past two decades. The growing popularity of disposable lenses is also driven by the need for easy and comfortable vision correction.
Myopia is particularly prevalent in the U.S., affecting a significant portion of the population. Over the past 30 years, the prevalence of myopia has increased dramatically. Additionally, presbyopia, which affects those aged 45 and older, is the most common eye condition in the country, with millions of individuals affected. Astigmatism, another condition treatable with disposable contact lenses, also impacts a large percentage of the U.S. population, further driving demand for these products. As a result, the disposable contact lens market in the U.S. is expected to continue growing.
Looking for More Information? Click: [https://www.arizton.com/market-reports/disposable-contact-lenses-market]
Recent Vendor Activities
Bausch & Lomb (2024): One of the leading companies in the disposable contact lens industry, Bausch & Lomb, launched INFUSE for Astigmatism - a daily disposable contact lens designed to treat astigmatism, blurred vision, and dryness. This innovation enhances visual clarity and comfort for users with astigmatism.
Hubble Contacts (2023): An emerging player in the market, Hubble Contacts launched the SkyHy disposable contact lens, its first silicon hydrogel-based product. Designed for high oxygen flow to the eyes, it promotes optimal eye health. The SkyHy lens features low rigidity and a smart multi-curvature edge for improved lens stability.
CooperVision (2022): The Cooper Companies announced that its full range of silicon hydrogel 1-day contact lenses is now net plastic neutral. As part of their sustainability efforts, the company expanded its leadership in eco-friendly practices. Additionally, CooperVision's MyDay Daily Disposable contact lenses joined the clarity-1 day portfolio, becoming the first net plastic neutral contact lens.
Johnson & Johnson (2022): The U.S. FDA approved Acuvue Theravision with Ketotifen, a daily disposable contact lens from Johnson & Johnson. This lens is the first drug-eluting disposable contact lens on the market, designed to treat allergic eye conditions while offering clear vision and comfort.
Market Competition Overview
The global disposable contact lenses market is highly fragmented, with some major players holding significant market share, while also offering considerable growth opportunities for new entrants. Although the market is dominated by well-established companies, there is a notable influx of smaller, innovative firms developing new disposable contact lenses and associated technologies.
Leading Companies Major players such as Alcon, Bausch + Lomb, Johnson & Johnson Vision Care, Inc., and The Cooper Companies, Inc. collectively account for more than 60% of the market share in the global disposable contact lenses market. These companies are actively expanding through acquisitions of smaller vendors, positioning themselves to maintain dominance by continually engaging in the development of advanced solutions.
Strategic Focus of Market Leaders To strengthen their market presence and capture a larger share, leading companies are focusing on a range of strategies. These include launching new products, increasing marketing and promotional activities, pursuing mergers and acquisitions, expanding market penetration, and collaborating with government entities. These efforts aim to enhance their product portfolios and distribution networks, thus improving their competitive edge in both domestic and international markets.
Geographical Reach and Product Innovation The dominant players in the market benefit from a wide geographical reach, offering a diversified portfolio of services and a strong focus on high-quality disposable contact lenses. Their ability to cater to both domestic and international markets enable them to maintain a competitive advantage.
Growing Competition from Emerging Companies In recent years, several emerging companies have entered the market, integrating advanced tools and technologies to improve product quality. This has intensified competition, as both established and new companies innovate to meet the evolving demands of consumers. Additionally, there has been a notable rise in mergers, acquisitions, and collaborations, further fueling competition and driving industry growth.
However, major companies currently lead the market, there is ample opportunity for new entrants and smaller players to thrive by capitalizing on innovation and strategic partnerships. The competitive landscape continues to evolve as companies work to enhance their market presence and meet the increasing demand for advanced disposable contact lens solutions.
Key Vendors
* Alcon
* Bausch + Lomb
* Johnson & Johnson
* The Cooper Companies
* Ben Q Material
* Carl Zeiss
* MAXVUE VISION GROUP
* St. Shine Optical Co Ltd.
* Menicon Co. Ltd
* HOYA Corporation
* Ultravision
* Visioneering Technologies, Inc.
* Sensimed
* Aqualens
* SEED Co., Ltd.
* Clerio Vision
* Interejo Co. Ltd.
* Hubble
* Visco Vision
Segmentation & Forecast
*
Usage Type
*
Daily Disposable or Dailies
*
Frequent Replacement/ Planned or Extended Wear
*
Material
*
Silicone Hydrogel
*
Hydrogel
*
Applications
*
Corrective
*
Therapeutics
*
Cosmetic
*
Design
*
Spherical
*
Toric
*
Multifocal
*
Distribution Channel
*
Retail Optical Stores
*
Hospitals & Ophthalmology Clinics
*
Online Stores
*
Geography
*
North America
*
The US
*
Canada
*
APAC
*
Japan
*
China
*
India
*
South Korea
*
Australia
*
Europe
*
Germany
*
France
*
The UK
*
Spain
*
Italy
*
Latin America
*
Brazil
*
Mexico
*
Argentina
*
Middle East & Africa
*
Turkey
*
Saudi Arabia
*
South Africa
*
The UAE
In a nutshell, the Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the disposable contact lenses market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/disposable-contact-lenses-market
What Key Findings Will Our Research Analysis Reveal?
What are the key drivers of the global disposable contact lenses market?
How big is the global disposable contact lenses market?
Which region shows the highest growth in the global disposable contact lenses market?
What is the growth rate of the global disposable contact lenses market?
Who are the major players in the global disposable contact lenses market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=disposable-contact-lenses-market-to-hit-1345-billion-by-2029-more-than-4-billion-opportunities-in-the-next-6-years-arizton]
Phone: +1 3122332770
Country: United States
Website: https://www.arizton.com/market-reports/disposable-contact-lenses-market
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