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Global Contact Lenses Market: By Material: Gas Permeable, Silicone Hydrogel, Hybrid; By Design: Spherical Lens, Toric Lens, Multifocal Lens, Others; By Application; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Contact Lenses Market Outlook
The global contact lenses market stood at a value of around USD 11.8 billion in 2020. The market is further expected to grow at a CAGR of 6.9% in the forecast period of 2023-2028 to attain a value of around USD 17.6 billion by 2026.
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Growing Popularity of Hybrid Contact Lenses to Bolster the Growth of the Contact Lenses Industry
Based on material, the hybrid segment accounts for a significant share in the market and is anticipated to witness a 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.
Meanwhile, the gas permeable segment occupies a considerable share in 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.
The Asia Pacific Accounts for a Significant Share in the Contact Lenses Industry
The contact lenses industry in the Asia Pacific is driven by the 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 a thin, curved lens placed on the film of tears that protects the eyes by covering the surface. The product is naturally clear and can be either hard or soft. Further, a contact lens can also be defined as a thin plastic lens placed directly on the surface of the eye to correct visual defects.
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Based on material, the market is segmented into:
- Gas Permeable
- Silicone Hydrogel
- Hybrid
On the basis of design, the industry is divided into:
- Spherical Lens
- Toric Lens
- Multifocal Lens
- Others
The market is divided based on application into:
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-Oriented
The market segmentation, on the basis of distribution channel, includes:
- Eye Care Professionals
- Retail
- Online
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Prevalence of Myopia, Astigmatism, Hyperopia, and Presbyopia to Boost the Growth of the Contact Lenses Industry
The global market for contact lenses is driven by the growing prevalence of myopia, astigmatism, hyperopia, and presbyopia, owing to the prolonged exposure of IT professionals, doctors, and others to the gadget screen. Contact lenses can help correct myopia by reducing refractive error and moving the focus point. The market 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). The 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.
Key Industry 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.
- 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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Material, Design, Application, Distribution Channel, Region |
| Breakup by Material | Gas Permeable, Silicone Hydrogel, Hybrid |
| Breakup by Design | Spherical Lens, Toric Lens, Multifocal Lens, Others |
| Breakup by Application | Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle-Oriented |
| Breakup by Distribution Channel | Eye Care Professionals, Retail, Online |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Alcon Vision LLC, Bausch & Lomb, Incorporated, Johnson & Johnson Vision Care, Inc., CooperVision, Inc., Essilor International S.A., Others |
| 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 (2018-2022)
8.3 Global Contact Lenses Market Forecast (2023-2028)
8.4 Global Contact Lenses Market by Material
8.4.1 Gas Permeable
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Silicone Hydrogel
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Hybrid
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Contact Lenses Market by Design
8.5.1 Spherical Lens
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Toric Lens
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Multifocal Lens
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Contact Lenses Market by Application
8.6.1 Corrective
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Therapeutic
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Cosmetic
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Prosthetic
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Lifestyle-Oriented
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.7 Global Contact Lenses Market by Distribution Channel
8.7.1 Eye Care Professionals
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Retail
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Online
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.8 Global Contact Lenses Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Contact Lenses Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Contact Lenses Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Contact Lenses Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Contact Lenses Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Contact Lenses Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
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 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 2028
2. Global Contact Lenses Historical Market: Breakup by Material (USD Billion), 2018-2022
3. Global Contact Lenses Market Forecast: Breakup by Material (USD Billion), 2023-2028
4. Global Contact Lenses Historical Market: Breakup by Design (USD Billion), 2018-2022
5. Global Contact Lenses Market Forecast: Breakup by Design (USD Billion), 2023-2028
6. Global Contact Lenses Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Contact Lenses Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Contact Lenses Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
9. Global Contact Lenses Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
10. Global Contact Lenses Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Contact Lenses Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Contact Lenses Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Contact Lenses Market Forecast: Breakup by Country (USD Billion), 2023-2028
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 2020, the global contact lenses for market attained a value of nearly USD 11.8 billion.
The market is estimated to grow at a CAGR of 6.9% between 2023 and 2028.
The major regions in the industry 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, rising number of ophthalmologists and eye-specialists, increasing spending towards the ophthalmic products, increasing therapeutic applications of the product, and rising geriatric population.
The growing prevalence of myopia, astigmatism, hyperopia and presbyopia and growing demand for contact lenses for cosmetic purposes are the key trends guiding the growth of the industry.
Gas permeable, silicone hydrogel, and hybrid are the various materials in the market.
Spherical lens, toric lens, and multifocal lens, among others are the different designs of the product.
Corrective, therapeutic, cosmetic, prosthetic, and lifestyle-oriented are the significant applications of the product.
Eye care professionals, retail, and online are the major distribution channels of the product in the market.
The major players in the industry are Alcon Vision LLC, Bausch & Lomb, Incorporated, Johnson & Johnson Vision Care, Inc., CooperVision, Inc., and Essilor International S.A., among others.
Analyst Review
The global contact lenses market attained a value of USD 11.8 billion in 2020, 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 2023-2028, growing at a CAGR of 6.9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on material, the market is divided into gas permeable, silicone hydrogel, and hybrid. On the basis of design, the market is divided 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 the product 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., and Essilor International S.A., 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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