Contact Lenses Market: By Design (Multifocal Lenses, Toric Lenses, And Spherical Lenses and Others), By Material (Gas-permeable Contact Lenses, Methacrylate Hydrogel Soft Contact Lenses, Silicone Hydrogel Soft Contact Lenses, And Others), By Type (Therapeutic Lenses, Lifestyle Focused Lenses, and Corrective Lenses), By Wear Type (Disposable Lenses, Frequent Replacement Lenses, And Conventional Lenses, Daily Disposable Lenses) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast 2027
|ID: VPR/HC/1277||Publishing Year: December 2021||Pages: 156||Format:|
Contact Lenses Market Overview:
Global Contact Lenses Market was valued at $ 9.68 billion in 2020 and is expected to reach $ 13.65 billion by 2027, registering a CAGR of 5.03% from 2021 to 2028.
Myopia, hypermetropia/hyperopia, presbyopia, and astigmatism are all conditions that need the use of a corrective lens to correct refractive defects and compensate for visual impairments. The rising incidence of visual dysfunctions and eye diseases in both developed and developing nations is driving up demand for contact lenses. The use of lenses to enhance one's appearance is also pushing the industry forward.
Furthermore, the rising prevalence of myopia and rising spending on ophthalmic products, such as contact lenses, as a corrective measure for refractive errors, as well as the need to eliminate the use of spectacles, as well as the rising adoption of Plano sunglasses to enhance aesthetic appearance, are propelling the Contact Lenses Market forward. Furthermore, the industry has seen a substantial increase in R&D efforts in the area of optics and optometry. The demand for contact lenses has risen because of advancements such as the introduction of dynamic soft contact lenses with sophisticated technology.
- Abbott Medical Optics Inc.
- Haohai Biological Technology
- Alcon Vision LLC
- Johnson & Johnson Vision Care Inc.
- Bausch Health Companies Inc.
- Essilor International SA
- Hoya Corporation
- Novartis AG
Impact of COVID-19 on the Contact Lenses Market
The COVID-19 epidemic had an effect on the corrective lens industry since eye care services were drastically curtailed as a result of social distancing measures implemented by governments across the world. The ophthalmology practices, on the other hand, are being continued with preventative precautions. Furthermore, owing to the global effect of COVID-19, distribution routes have been disrupted, and contact lens supply has decreased.
The worldwide Contact Lenses Market is segmented into four categories: design, material, type, and wear type. The contact lens industry is divided into three categories depending on design: multifocal lenses, toric lenses, and spherical lenses, and others. Furthermore, the Contact Lenses Market is divided into gas-permeable contact lenses, methacrylate hydrogel soft contact lenses, silicone hydrogel soft contact lenses, and others based on material. The worldwide Contact Lenses Market is further segmented by type, which is further divided into therapeutic lenses and lifestyle-focused lenses, and corrective lenses. The Contact Lenses Market is divided depending on the type of use into disposable lenses, frequent replacement lenses, and conventional lenses, daily disposable lenses.
The contact lenses market is expected to expand due to factors such as the increasing incidence of eye diseases and advances in ophthalmology.
North America accounted for the biggest proportion of the global Contact Lenses Market, followed by Europe and the Asia Pacific. During the projection period, the Asia Pacific market is expected to expand at the fastest rate. Increased incidences of eye disorders, a rising elderly population, and technical advances in contact lenses are driving the Asia Pacific market.
Frequently Asked Questions
Type Here for table of content.