Global Contact Lenses Market Size - Industry Trends & Outlook
Global Contact Lenses Market is estimated to be USD 18 billion
2026 from USD 12.79 billion in 2019, at a CAGR of 5 % from 2020 to 2026. The
rise in the aging population, increasing desire of people to enhance their
aesthetic appearance, ophthalmic disorders, and starter of multifocal and other
new lenses largely influence the market growth. However, rising acceptance of
other ophthalmology devices and corrective actions such as photorefractive
keratectomy (PRK) and laser plus increasing side effects of contact lenses such
as eye infections and corneal ulcers are some standard restraints in the growth
of the market. Reasons such as an increase in the elderly population, improving
economy, and rising disposable incomes globally, are essential reasons for the
market to increase rapidly and are predictable to provide many opportunities
for market growth. North American market recently holds a significant share of
the global contact lenses market owing to high attentiveness regarding eye
examinations and increasing popularity of daily disposable lenses. However, the
Asia Pacific market is predicted to grow at the fastest rate with the most
promising and beneficial opportunities present in the players’ market shortly
due to increasing awareness among people and well-equipped practitioners in
countries in this region.
Contact Lenses Market: Market Outlook and Trends
contact lens is a lightweight remedial, cosmetic, or therapeutic device placed
directly onto the cornea of the eye to progress vision. Using a contact lens
avoids the need to use hard to manage large spectacles and offers the further
benefit of improving one's aesthetic appeal. Besides, contact lenses are also
used to treat common eye disorders such as myopia, astigmatism, hypermetropia,
presbyopia, and glaucoma.
Contact Lenses Market
number of visual inaccuracies
occurrence of eyesight disorders, such as hyperopia, myopia, astigmatism, and
presbyopia, is continuously growing. Besides, vitamin A deficit and accident
cases are rising profusely over the past few years. The rising occurrence of
myopia and increasing spending on ophthalmic products, such as contact lenses,
as a remedial measure for refractive errors, are probable to drive the contact
lenses market's progress in the future.
popular among youngsters as a fashion accessory
approval as a fashion accessory is a major feature boosting global sales of
contact lenses. They are predicted to drive the development of the global
contact lenses market over the prediction period. Youngsters favor contact
lenses for convenience, aesthetics, comfort, and easy obtainability of contact
lenses with a variety of colors and have also caused their use as a fashion
accessory among the young and middle-aged population.
in R&D Activities
noteworthy rise in R&D activities in optics and optometry has been
perceived in the market. Progressions such as the launch of dynamic soft
contact lenses integrated with advanced technology have pushed contact lenses'
request. Like, In November 2018, IMEC and SEED Co. Ltd, an international
R&D hub, entered a collective partnership to develop a smart contact lens.
This contact lens will have constituents, such as a radio-frequency antenna for
wireless energy transfer, an ultra-thin silicon microchip, and LED light.
is a broadly known fact that napping with the lenses on, or careless handling
or storage of contact lenses, can have severe implications such as
poor-fitting, eye infections, dryness of eyes, ulcerations, and other eye
diseases which is anticipated to limit mass acceptance of contact lenses among
doubtful consumers. In certain emerging regions such as the Middle East &
Africa, specialists are not well equipped to recommend contact lenses.
Increasing acceptance of ophthalmology devices and remedial procedures like
LASIK and Photorefractive Keratectomy (PRK) also threatens to limit complete
development prospects of the global contact lens market to a definite extent.
of COVID-19 in industry
care of health is critical, and people may have concerns about eye health as a
result of the COVID-19 public health crisis. Doctor of Optometry are
recommencing the delivery of comprehensive eye health and vision care and
executing new protocols to offer care in a safe and healthy environment. Some
of the recent actions patients can anticipate include screening for symptoms of
COVID-19 and checking patients' fever upon their entrance at the facility,
limiting the number of guests permissible in waiting rooms, and requiring
everyone to put on a facemask and gloves before ingoing the office. As
optometry practices reopen and operations proceed under a "new
normal," the AOA and member Doctor of Optometry are working to certify the
sustained safe delivery of essential eye care by Doctor of Optometry during the
COVID-19 public health crisis for patients and the public.
Contact Lenses Market: Segmentation
hydrogel section is predictable to grow at a CAGR of over 7% during the
prediction period due to the hydrogel material's enhanced oxygen permeability.
Less oxygen getting the cornea surface causes hypoxia that may lead to dim
vision, loss of graphic clarity, and contamination. Growing worries to decrease
hypoxia-related problems and growing consumer consciousness regarding the
safety of prolonged wear and daily wear will drive material
demand. Silicone hydrogel lenses permit up to five times more oxygen to
range the cornea likened to regular hydrogel lenses. These lenses also offer
more ease and hydration to the wearer during the day.
design held over 70% of contact lenses market share in 2018 due to the
population's surge suffering from near-sightedness and foresight. The spherical
design has the same lens power during the lens's optical part to correct the
hyperopia, myopia, and presbyopia. Increasing consumer affordability is the key
reason that demands adults and working-class consumers from buying spherical
lenses over spectacles. These lenses are majorly suggested for people with low
The online store section is expected to grow at a rate of over 7%
during the predicted period due to the rise in customer preferences for online
shopping. The growing internet penetration is enabling customer’s access to
several lenses through smartphones and tablets. Numerous e-commerce platforms
are proposing competent and cost-effective solutions for ordering cosmetic
lenses online. Changes in customer choices toward online buying and thriving
e-commerce will recover product requests.
Global Contact Lenses Market: Regional Insights
North American market presently grips the largest share of the
global contact lenses market due to high alertness concerning eye examinations
and growing approval of daily disposable lenses. However, the Asia Pacific
market is predictable to cultivate at the firmest rate with the most promising
and profitable chances present in the market for the players shortly due to
rising consciousness among people and well-equipped practitioners in countries
in this region.
The leading players in the Contact Lenses Market include Bausch +
Lomb (US), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson &
Johnson (US), HOYA Corporation (Japan), The Cooper Companies (US), Seed Co.,
Ltd. (Japan), EssilorLuxottica (France), BenQ Materials Corporation (Taiwan),
Menicon Co., Ltd. (Japan) and other prominent players.
· September 2020, Alcon Focuses on Presbyopia-Correcting
IOL Innovation and the New Normal at the Virtual ESCRS Congress 2020
· September 2020, ZEISS Medical Technology Nominated for
Deutscher Zukunftspreis 2020
Scope of the Report
Historical data – 2016-2018
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy,
Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa,
Saudi Arabia .
By Product, By Design Type, By Usage, By
By Distribution Channel and by Regional
leading players considered for market analysis are Bausch + Lomb (US), Alcon
(Switzerland), Carl Zeiss Meditec AG (Germany), Johnson & Johnson (US),
HOYA Corporation (Japan), The Cooper Companies (US), Seed Co., Ltd. (Japan),
EssilorLuxottica (France), BenQ Materials Corporation (Taiwan), Menicon Co.,
Ltd. (Japan) and many others.
Ø By Product
Ø Soft Lenses
Ø Hard Lenses
Ø Silicone Hydrogel
Ø Optical Stores
Ø Independent Brand
Ø Online Stores
Ø General Retail
Middle East &