Contact Lenses Market Size (2022-2030) Share, Industry Trends, Growth, Challenges and Forecast Analysis Report: Growth Plus Reports

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Sep 15, 2022, 09:10 ET

NEW YORK, Sept. 15, 2022 /PRNewswire/ -- According to the latest report published by Growth Plus Reports, the global contact lenses market is expected to clock US$ 14.36 billion by 2030 and to grow at a CAGR of 5.20% during the forecast period. The global contact lenses market is driven by an increasing preference for contact lenses over eyeglasses, rising aesthetic demand for contact lenses, and increasing prevalence of myopia. Moreover, and affordability of disposable contact lenses and research & development in contact lens materials are fueling the global contact lenses market. However, high maintenance costs, maintaining hygiene, and lens disinfection are difficult to follow, and limited wearing time are holding the global contact lenses market.

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Excerpts from 'Competitive Landscape'

The prominent players operating in the global contact lenses market are

Abbott Medical Optics, Inc
Alcon Vision LLC
Bausch & Lomb Incorporated
Carl Zeiss
Meditec AG
CooperVision, Inc
Essilor International S.A
Hoya Corporatio
Johnson & Johnson Vision Care, Inc
X-Cel Specialty Contacts
Medennium
Menicon Co., Ltd
STAAR Surgical Company
SynergEyes, Inc

Growth Drivers

Myopia causes visual refractive error, and it most commonly occurs in children and geriatric populations. Myopia patients may experience blurry vision, headaches due to eyestrain, and uncorrected myopia is one of the leading causes of distance vision impairment worldwide. Myopia increases the risk of ocular changes, and if left untreated, it may induce other chronic eye diseases i.e glaucoma, and cataract. According to the World Health Organization, 2.2 billion people worldwide have distance and near vision impairment, and at least 1 billion people have a vision impairment that can be prevented or needs to be addressed. Cataracts and uncorrected refractive errors are the most common causes of vision loss. Many people with eye disorders are over the age of 50, but vision loss can occur at any age. In October 2021, the World Health Organization stated that the estimated global cost of productivity losses associated with uncorrected myopia is nearly US$ 244 billion.

Contact lenses are curved disk-shaped clear, thin, and transparent medical devices placed directly on the cornea of the eye and help to correct refractive errors. Contact lenses are used for the treatment of hyperopia, astigmatism, myopia, and presbyopia and best alternatives for LASIK surgery and eyeglasses.

The global contact lenses market has been analyzed from five different perspectives – Type, Application, Usage, Design, Distribution channel , and Region

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Excerpts from 'By Type'

The global contact lenses market has been segmented into:

Soft Contact
Rigid Gas Permeable Contact Lenses
Hybrid Contact Lenses

Soft lenses are leading the global contact lenses market owing to their high comfort, and they provide clear, stable, and crisp vision. Additionally, longer wearing time than rigid lenses, high adoption rate, less time required to wear, and customization options are contributing to the global soft contact lenses market growth.

Excerpts From 'Application'

The global contact lenses market based on materials has been segmented into

Prosthetic Contact Lenses
Corrective Contact Lenses
Therapeutic Contact Lenses
Cosmetic Contact Lenses

Corrective contact lenses are used for refractive error and vision. Corrective contact lenses are expected to show the highest growth owing to increasing age-related macular degeneration cases, increasing cases of myopia, and increasing dry eye and eye strain cases. Additionally, therapeutic use, customization option, and high demand for corrective contact lenses are contributing to the global corrective contact lenses market growth.

Excerpts from 'By Region Segmentation'

North America is dominating the global contact lenses market, followed by Asia Pacific. The large share of North America in the global market can be attributed to increasing prevalence of myopia, increasing ophthalmic diseases and availability of novel products. Additionally, high disposable income, high adoption rate for contact lenses, technological advancement, developed infrastructure, high number of approved contact lenses, and an enormous number of key players are contributing to the growth of the North America contact lenses market.

Table of Content

INTRODUCTION

Market Ecosystem
Timeline Under Consideration

Historical Years – 2020
Base Year – 2021
Forecasted Years – 2022 to 2030

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2021)

MARKET DYNAMICS

Drivers
Restraints/Challenges
Opportunities

GLOBAL CONTACT LENSES MARKET - ANALYSIS & FORECAST, BY TYPE

Soft Contact Lenses
Hybrid Contact Lenses
Rigid Gas Permeable Contact Lenses

GLOBAL CONTACT LENSES MARKET - ANALYSIS & FORECAST, BY APPLICATION

Corrective Contact Lenses
Therapeutic Contact Lenses
Cosmetic Contact Lenses
Prosthetic Contact Lenses

GLOBAL CONTACT LENSES MARKET - ANALYSIS & FORECAST, BY USAGE

Extended Wear
Disposable

GLOBAL CONTACT LENSES MARKET - ANALYSIS & FORECAST, BY DESIGN

Spherical
Toric
Multifocal

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