Reports
Global Contact Lenses Market Size, Share, Growth, Forecast: By Material: Gas Permeable, Silicone Hydrogel, Hybrid; By Design: Spherical Lens, Toric Lens, Multifocal Lens, Others; By Application: Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle-Oriented; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Contact Lenses Market Outlook
The global contact lenses market size stood at a value of approximately USD 13.8 billion in 2023. The market is further expected to grow at a CAGR of 7.10% in the forecast period of 2024-2032 to attain a value of around USD 20.8 billion by 2032.
Rising awareness regarding the advantages of contact lenses and their ease of use is driving the growth of the market for contact lenses. Users with and without eye concerns are experimenting with various types of contact lenses to change their appearance, whether by changing their eye colour or by removing the need for spectacles. Contact lenses are increasingly becoming available in a variety of price points, catering to various eye concerns. The popularity of disposable contact lenses, including daily disposables and monthly disposables are on the rise, as new lenses provide greater freshness while wearing. Various tools are becoming widely available that aid in insertion and removal of contact lenses, further increasing their usage and demand among the population.
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Rising Popularity of Hybrid Contact Lenses to Bolster the Growth of the Contact Lenses Market
The hybrid segment accounts for a significant share of the market for contact lenses by type and is anticipated to witness considerable growth in the forecast period. Hybrid contact lenses present some distinct advantages such as the better facilitation of tear flow, lower apical clearance, and reduced fogging effect. These lenses enhance oxygen transmission and offer better comfort and stability. Additionally, hybrid contact lenses are gaining significant traction among those suffering from irregular cornea and astigmatism, thus aiding the contact lenses market.
Meanwhile, the gas permeable segment occupies a considerable share of the market, as it is known to provide sharper vision and allows the eyes to breathe better. Over the forecast period, the growing cases of near-sightedness among those who spend a considerable amount of time in front of screens are likely to provide a further impetus to the market growth.
Global Contact Lenses Market Share by Region
The Asia Pacific accounts for a sizable share of the market for contact lenses, driven by increasing consumer spending on ophthalmic products, owing to the rising disposable income and growing awareness about advanced and upgraded ophthalmic solutions. The rising geriatric population in India, China, and Japan and the growing prevalence of vision impairment are likely to contribute to the increasing demand for contact lenses. Over the forecast period, the market is anticipated to be aided by the growing number of eye specialists and ophthalmologists in this region.
Contact Lenses: Market Segmentation
A contact lens is defined as a thin, curved, plastic lens placed directly on the surface of the eye to correct visual defects or for aesthetic purposes. Contact lenses can be either hard or soft and while they are naturally, coloured versions are also available.
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Based on material, the market is segmented into:
- Gas Permeable
- Silicone Hydrogel
- Hybrid
On the basis of design, the market is divided into:
- Spherical Lens
- Toric Lens
- Multifocal Lens
- Others
Based on application, the market is divided into:
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-Oriented
On the basis of distribution channel, the market is segmented into:
- Eye Care Professionals
- Retail
- Online
The regional markets for contact lenses are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Increasing Prevalence of Myopia, Astigmatism, Hyperopia, and Presbyopia to Boost the Growth of the Contact Lenses Market
The growing prevalence of myopia, astigmatism, hyperopia, and presbyopia, owing to the prolonged exposure of IT professionals, doctors, and others to gadget screens are major contact lenses market trends driving the market. Contact lenses can help correct myopia by reducing refractive error and moving the focus point. The market for contact lenses is anticipated to be augmented by the rising therapeutic applications of the product, owing to the growing cases of corneal and ocular surface diseases (OSD). Therapeutic contact lenses aid in visual disorders and facilitate corneal healing. In addition, the growing demand for contact lenses for cosmetic purposes is expected to further contribute to the market growth over the forecast period.
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Key Players in the Global Contact Lenses Market
The report gives a detailed analysis of the following key players in the global contact lenses market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Alcon Vision LLC
- Bausch & Lomb, Incorporated
- Johnson & Johnson Vision Care, Inc.
- CooperVision, Inc.
- Essilor International S.A.
- HOYA Vision Care
- Carl Zeiss AG
- Menicon Co., Ltd.
- UltraVision CLPL
- TruForm Optics Inc.
- Valley Contax Inc.
- SynergEyes®, Inc.
- TruForm Optics Inc.
- Art Optical Contact Lens, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Design |
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| Breakup by Application |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Contact Lenses Market Analysis
8.1 Key Industry Highlights
8.2 Global Contact Lenses Historical Market (2018-2023)
8.3 Global Contact Lenses Market Forecast (2024-2032)
8.4 Global Contact Lenses Market by Material
8.4.1 Gas Permeable
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Silicone Hydrogel
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Hybrid
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Contact Lenses Market by Design
8.5.1 Spherical Lens
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Toric Lens
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Multifocal Lens
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Contact Lenses Market by Application
8.6.1 Corrective
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Therapeutic
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Cosmetic
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Prosthetic
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Lifestyle-Oriented
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.7 Global Contact Lenses Market by Distribution Channel
8.7.1 Eye Care Professionals
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Retail
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.8 Global Contact Lenses Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Contact Lenses Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Contact Lenses Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Contact Lenses Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Contact Lenses Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Contact Lenses Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code: 900130)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Alcon Vision LLC
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Bausch & Lomb, Incorporated
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Johnson & Johnson Vision Care, Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 CooperVision, Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Essilor International S.A.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 HOYA Vision Care
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Carl Zeiss AG
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Menicon Co., Ltd.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 UltraVision CLPL
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 TruForm Optics Inc.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Valley Contax Inc.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 SynergEyes®, Inc.
17.2.12.1 Company Overview
17.2.12.2 Product Portfolio
17.2.12.3 Demographic Reach and Achievements
17.2.12.4 Certifications
17.2.13 TruForm Optics Inc.
17.2.13.1 Company Overview
17.2.13.2 Product Portfolio
17.2.13.3 Demographic Reach and Achievements
17.2.13.4 Certifications
17.2.14 Art Optical Contact Lens, Inc.
17.2.14.1 Company Overview
17.2.14.2 Product Portfolio
17.2.14.3 Demographic Reach and Achievements
17.2.14.4 Certifications
17.2.15 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Contact Lenses Market: Key Industry Highlights, 2018 and 2032
2. Global Contact Lenses Historical Market: Breakup by Material (USD Billion), 2018-2023
3. Global Contact Lenses Market Forecast: Breakup by Material (USD Billion), 2024-2032
4. Global Contact Lenses Historical Market: Breakup by Design (USD Billion), 2018-2023
5. Global Contact Lenses Market Forecast: Breakup by Design (USD Billion), 2024-2032
6. Global Contact Lenses Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Contact Lenses Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Contact Lenses Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Contact Lenses Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Contact Lenses Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Contact Lenses Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Major Importing Countries by Volume (2020)
23. Major Exporting Countries by Volume (2020)
24. Major Importing Countries by Value (2020)
25. Major Exporting Countries by Value (2020)
26. Global Contact Lenses Market Structure
Key Questions Answered in the Report
In 2023, the global contact lenses for market attained a value of approximately USD 13.8 billion.
The market is estimated to grow at a CAGR of 7.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 20.8 billion by 2032.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising disposable income, increasing number of ophthalmologists and eye-specialists, rising spending towards the ophthalmic products, and increasing therapeutic applications of contact lenses.
The key trends stimulating the market include the growing prevalence of eye disorders and the rising demand for contact lenses for cosmetic purposes.
The major segments based on materials of contact lenses considered in the market report are gas permeable, silicone hydrogel, and hybrid.
Spherical lens, toric lens, and multifocal lens, among others, are the different market segmentations based on design of contact lenses.
The significant applications of contact lenses are corrective, therapeutic, cosmetic, prosthetic, and lifestyle-oriented.
Eye care professionals, retail, and online are the major distribution channels of contact lenses in the market.
The major players in the market are Alcon Vision LLC, Bausch & Lomb, Incorporated, Johnson & Johnson Vision Care, Inc., CooperVision, Inc., Essilor International S.A., HOYA Vision Care, Carl Zeiss AG, Menicon Co., Ltd., UltraVision CLPL, TruForm Optics Inc., Valley Contax Inc., SynergEyes®, Inc., TruForm Optics Inc., and Art Optical Contact Lens, Inc., among others.
Analyst Review
The global contact lenses market attained a value of approximately USD 13.8 billion in 2023, driven by the growing prevalence of myopia, hyperopia, and presbyopia. Aided by the increasing spending towards the ophthalmic products and growing demand for contact lenses for cosmetic purposes, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.10%, reaching a value of around USD 20.8 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on material, the market is divided into gas permeable, silicone hydrogel, and hybrid. On the basis of design, the is segmented into spherical lens, toric lens, and multifocal lens, among others. By application, the market is divided into corrective, therapeutic, cosmetic, prosthetic, and lifestyle oriented. The significant distribution channels of contact lenses in the market include eye care professionals, retail, and online. The major regional markets for contact lenses are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Alcon Vision LLC, Bausch & Lomb, Incorporated, Johnson & Johnson Vision Care, Inc., CooperVision, Inc., Essilor International S.A., HOYA Vision Care, Carl Zeiss AG, Menicon Co., Ltd., UltraVision CLPL, TruForm Optics Inc., Valley Contax Inc., SynergEyes®, Inc., TruForm Optics Inc., and Art Optical Contact Lens, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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