Soft Contact Lenses Market Size to Reach $12.61 Billion by 2029 | Growth at 7.1% CAGR Forecast

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What is the Projected Market Size of the Soft Contact Lenses Industry?
The market size for soft contact lenses has shown robust growth in the recent past. It is projected to expand from $8.91 billion in 2024 to $9.57 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. The historic growth can be credited to factors such as a higher incidence of refractive vision issues, an increased inclination towards aesthetics over glasses, more involvement in sports and outdoor pursuits, wider distribution of contact lenses in retail stores, and an increase in disposable income and healthcare expenditures.

What Will Be the Size of the Soft Contact Lenses Market by 2029?
The market for soft contact lenses is forecasted to experience considerable expansion in the upcoming years. The market is set to reach $12.61 billion by 2029 at a compound annual growth rate (CAGR) of 7.1%. Factors contributing to the predicted growth include increased exposure to digital screens, a rising elderly population suffering from presbyopia, a rise in demand for daily disposable lenses, the growth of online consumer-direct channels, and a greater public understanding of eye health. Looking forward, expected trends within this period encompass advancements in lens material technology, breakthroughs in drug delivery and therapeutic lenses, R&D around multifocal and toric designs, the uptake of smart contact lens technologies, and a shift towards environmentally friendly lens production and packaging.

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What Are the Key Drivers Accelerating Growth in the Soft Contact Lenses Market?
The soft contact lenses market is set to benefit from the rising occurrence of myopia. The condition, often due to the lengthening of the eyeball or increased curvature of the cornea, is a common refractive error that makes distant objects look blurry whilst near objects remain clear. This is because the incoming light focuses in front of the retina instead of directly onto it. Prolonged use of digital screens among young children and teens, along with decreased outdoor activity, are leading to early onset and accelerated progression of myopia around the world. The availability of comfortable, corrective soft contact lenses, including daily and extended-wear types, helps enhance visual acuity and can feature advanced designs that slow the progression of myopia. The National Institutes of Health (NIH) predicts the global number of myopia cases will rise by 36.59% in 2040 and 39.80% in 2050, exceeding 740 million by 2050, according to their report in February 2025. This rising trend of myopia is fuelling the growth of the soft contact lenses market.

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How Is the Soft Contact Lenses Market Segmented by Type, Application, and Region?
The soft contact lenses market covered in this report is segmented -

1) By Product Type: Daily Disposable Lenses, Extended Wear Lenses, Frequent Replacement Lenses, Multifocal Lenses, Toric Lenses For Astigmatism
2) By Material Composition: Hydrogel Lenses, Silicone Hydrogel Lenses, Polyhema Lenses, Non-Ionogenic Lenses, Ultraviolet Blocking Lenses
3) By Age Group: Children, Teenagers, Young Adults, Middle Aged Adults, Senior Citizens
4) By Distribution Channel: Online Retailers, Optical Stores, Pharmacies, Hospital And Clinic Sales, Direct To Consumer Brands
5) By Application: Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle Oriented

Subsegments:
1) By Daily Disposable Lenses: Single Vision Daily Disposable Lenses, Multifocal Daily Disposable Lenses, Toric Daily Disposable Lenses For Astigmatism, Colored Daily Disposable Lenses, Ultraviolet Blocking Daily Disposable Lenses
2) By Extended Wear Lenses: Seven Day Continuous Wear Lenses, Fourteen Day Continuous Wear Lenses, Thirty Day Continuous Wear Lenses, Silicone Hydrogel Extended Wear Lenses, Overnight Therapeutic Extended Wear Lenses
3) By Frequent Replacement Lenses: Two Week Replacement Contact Lenses, Monthly Replacement Contact Lenses, Custom Designed Replacement Lenses, Colored Frequent Replacement Lenses, Hydrogel Based Frequent Replacement Lenses
4) By Multifocal Lenses: Daily Disposable Multifocal Contact Lenses, Extended Wear Multifocal Contact Lenses, Monthly Replacement Multifocal Lenses, Toric Multifocal Contact Lenses For Astigmatism, Aspheric Multifocal Contact Lenses
5) By Toric Lenses For Astigmatism: Daily Disposable Toric Contact Lenses, Extended Wear Toric Contact Lenses, Monthly Replacement Toric Contact Lenses, Multifocal Toric Contact Lenses, Custom Fit Toric Contact Lenses

What Are the Key Trends Driving Growth in the Soft Contact Lenses Market?
Leading corporations in the soft contact lenses market are prioritizing the development and launch of innovative products, like customizable contact lenses, to advance visual rectification, enhance user comfort, and fulfill the needs of those with specialized eye conditions or prescriptions. Customized contact lenses are specifically designed according to an individual's unique eye shape, prescription, and vision necessities and can be adjusted based on parameters such as curvature, diameter, components, and visual correction. They provide superior comfort, fit, and visual enhancement compared to normal lenses. For example, Bausch + Lomb, a prominent eye health company from the United States, unveiled their Revive custom soft contact lenses in June 2022. This new selection of highly customizable lenses, available in spherical, toric, multifocal, and multifocal toric variants, is intended to cater to the visual necessities of a broader set of patients, including those with complex or elevated prescriptions like high myopia, astigmatism, hypermetropia, and presbyopia. The Revive lenses, made of a non-ionic material that resists protein build-up, are designed for daily use up to three months, and feature flexible replacement schedules. These lenses offer adjustable features such as diameter, base curve, and power to ensure a perfect fit. They are backed by Bausch + Lomb's 120-day EZ-Exchange program and professional fitting support, empowering eye care professionals to more efficiently cater to patients with complex visual needs.

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Who Are the Leading Companies Driving Growth in the Soft Contact Lenses Market?
Major companies operating in the soft contact lenses market are Johnson & Johnson, EssilorLuxottica SA, Alcon Laboratories Inc., Hoya Corporation, Bausch & Lomb Incorporated, The Cooper Companies Inc., Carl Zeiss Meditec AG, Polytouch Contact Lens Co., Menicon Co. Ltd., ABB Optical Group LLC, Contamac Ltd., Art Optical Contact Lens Inc., Clearlab SG Pte Ltd., X-Cel Specialty Contacts, Daysoft Limited, Seed Co. Ltd., Blanchard Contact Lens Inc., Cantor & Nissel Ltd., Metro Optics Inc., SpecialEyes LLC, TruForm Optics Inc., UltraVision CLPL Limited, Viscon Contact Lens Mfg. Ltd.

Which Is the Leading Region in the Global Soft Contact Lenses Market?
North America was the largest region in the soft contact lenses market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soft contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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