Contact Lenses Market: Information by Usage (Daily Wear), Design (Multifocal), Material (Gas Permeable), Application (Corrective) Distribution Channel, and Region — Forecast till 2029

Feb 09, 2021   A contact lens is a thin, curved lens placed directly on the corner of the eye. The mechanism is the same as a pair of spectacles to adjust the focusing power by correcting refractive errors to the eye's cornea and lens. The lens is clear; however, it is commonly given the slightest tinge of color to create them easier for wearers to handle. The United States Food and Drug Administration (U.S. FDA) considers contact lenses as medical devices, irrespective of the purpose the wearer uses them. Th...
Request Free Sample Report

Report Description

A contact lens is a thin, curved lens placed directly on the corner of the eye. The mechanism is the same as a pair of spectacles to adjust the focusing power by correcting refractive errors to the eye's cornea and lens. The lens is clear; however, it is commonly given the slightest tinge of color to create them easier for wearers to handle. The United States Food and Drug Administration (U.S. FDA) considers contact lenses as medical devices, irrespective of the purpose the wearer uses them.

The contact lenses market is expected to grow with a CAGR of 5.5% during the forecast period.

Contact-Lenses-Market

Rising Prevalence of Visual Inaccuracies across the Globe

The contact lenses market is primarily driven by the soaring incidents of visual deficiencies, such as myopia, hypermetropia/hyperopia, presbyopia, and astigmatism globally. Young kids using mobile phones and tablets close to their eyes can damage the eyesight at an early stage. As per the WHO, globally, 1 billion people have a vision impairment, which includes moderate or severe distance vision impairment or blindness due to unaddressed refractive error, cataract, glaucoma, corneal opacities, diabetic retinopathy, and trachoma. Moreover, in high-income countries, diseases such as diabetic retinopathy, glaucoma, and age-related macular degeneration are common causes leading to causes of vision impairment.

Increasing investment and initiatives undertaken by the governmental and non-governmental organizations drive the market growth.

Age-related macular degeneration (AMD) is an eye disorder linked with aging and results in damaging sharp and central vision. The function of the central vision is to assist a person with a clear view of the objects for conducting the primary tasks, such as reading and driving. Also, AMD is the leading cause of long-lasting impairment among elderly people aged more than 65 years. According to the U.S. Department of Health & Human Services, it is estimated that 1.8 million Americans aged 40 and older are affected by AMD. The estimated number of people suffering from AMD will reach 2.95 million in 2020.

Emerging Markets to Provide Lucrative Opportunities for Market Growth

Asia-Pacific is estimated to be the fast-growing region due to the increasingly high incidence of visual inaccuracies. The key market players are tapping the market to coup up with the increased demand for the use of contact lenses among the population. Moreover, the increasing adoption of cosmetic lenses, coupled with growing fashion trends, are driving the growth of the market.

Contact Lenses Market: Segmentation

Daily Wear Segment to Dominate the Market during the Forecast Period

Daily wear is expected to remain the dominant segment during the forecast period. The rising consumer preference for daily wear lenses, mainly because of the comfort level it provides to the wearer, drives the segment growth. These lenses are considered healthier options by most users as they do not cause any type of allergy to the user with sensitive eyes. Eye care professionals are also prescribing daily wear lenses as they help avoid problems associated with longer lens replacements.

Hybrid Segment Dominates the Market

The hybrid lens material offers patients with sharper vision as it is associated with a gas permeable central zone, together with the comfort of a soft lens. Hybrids are more comfortable, exhibit better centration, and are more stable. Compared to soft lenses, hybrids are uniquely indicated when the quality of vision is affected by residual high-order aberrations or when tonic soft contact lenses fail to provide stable vision.

The therapeutic segment, on the other handholds the largest market share, as they are useful in a variety of ocular surface diseases. These lenses are mainly used to relieve pain, protect the ocular surface, promote corneal healing and epithelial regeneration, seal a leaking corneal wound, and deliver ophthalmic drugs on the ocular surface.

Regional Overview

North-America-Lead-Contact-Lenses-Market

North America to Dominate the Contact Lenses Market during the Forecast Period

North America dominates the contact lenses market as the region is backed by the presence of a well-established healthcare system, high penetration and adoption rate of contact lenses, along with the surging prevalence of visual inaccuracy diseases. Additionally, the rising geriatric population is further anticipated to propel market growth. In addition, the local presence of key players, high disposable income, and lifestyle changes accelerate the regional market growth

Key Players

  • Abbott Medical Optics (AMO) (Johnson & Johnson Services, Inc.
  • Alcon Management S. A.
  • Bausch & Lomb Incorporated 
  • ZEISS International(Germany)
  • Contamac
  • CooperVision
  • Essilor(France)
  • HOYA Corporation. (Japan)
  • Medennium
  • SEED Co., Ltd. (Japan)

Recent Developments

  • In April 2019, Johnson & Johnson Vision announced the launch of its first-of-a-kind new contact lenses, ACUVUE OASYS, with transitions. The lenses feature a light intelligent technology, dispersed across the material in the form of trillions of photochromic molecules. The lenses, which also provide vision correction, help the eyes adjust to darkness or brightness better than they would do independently.
  • CooperVision'sMiSight contact lens is designed for children ages 8 to 12. It is designed to slow the progression of myopia and has received the Food and Drug Administration (FDA) approval

Contact Lenses Market: Segmentation

By Usage

  • Daily Wear
  • Extended Wear

By Design

  • Multifocal
  • Spherical
  • Toric
  • Others

By Material

  • Gas Permeable
  • Silicon Hydrogel
  • Hybrid

By Application

  • Therapeutic
  • Corrective
  • Cosmetic

By Distribution Channel

  • Eye-Care Professionals
  • E-Commerce
  • Retail

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
    • Russia
    • The Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Korea
    • Australia
    • Southeast Asia
    • The Rest of Asia-Pacific
  • Central and South America and the Caribbean
    • Brazil
    • Argentina
    • Chile
    • The Rest of Central and South America and the Caribbean
  • The Middle East and Africa
    • South Africa
    • Egypt
    • The UAE
    • Saudi Arabia
    • The Rest of MEA

Frequently Asked Questions (FAQs)

Hybrid Segment is expected to be the leading segment in Contact Lenses Market during the forecast period.
North America is expected to hold the highest market share in Contact Lenses Market.
Alcon Management S.A, Bausch & Lomb Incorporated, ZEISS International, Contamac, CooperVision, Essilor, HOYA Corporation, Medennium, SEED Co., Ltd are the top players in Contact Lenses Market.
The contact lenses market is expected to grow with a CAGR of 5.5% during the forecast period.
Increasing investment and initiatives undertaken by the governmental and non-governmental organizations, increasing adoption of cosmetic lenses, coupled with growing fashion trends are the key factors expected to drive Contact Lenses Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.

A contact lens is a thin, curved lens placed directly on the corner of the eye. The mechanism is the same as a pair of spectacles to adjust the focusing power by correcting refractive errors to the eye's cornea and lens. The lens is clear; however, it is commonly given the slightest tinge of color to create them easier for wearers to handle. The United States Food and Drug Administration (U.S. FDA) considers contact lenses as medical devices, irrespective of the purpose the wearer uses them.

The contact lenses market is expected to grow with a CAGR of 5.5% during the forecast period.

Contact-Lenses-Market

Rising Prevalence of Visual Inaccuracies across the Globe

The contact lenses market is primarily driven by the soaring incidents of visual deficiencies, such as myopia, hypermetropia/hyperopia, presbyopia, and astigmatism globally. Young kids using mobile phones and tablets close to their eyes can damage the eyesight at an early stage. As per the WHO, globally, 1 billion people have a vision impairment, which includes moderate or severe distance vision impairment or blindness due to unaddressed refractive error, cataract, glaucoma, corneal opacities, diabetic retinopathy, and trachoma. Moreover, in high-income countries, diseases such as diabetic retinopathy, glaucoma, and age-related macular degeneration are common causes leading to causes of vision impairment.

Increasing investment and initiatives undertaken by the governmental and non-governmental organizations drive the market growth.

Age-related macular degeneration (AMD) is an eye disorder linked with aging and results in damaging sharp and central vision. The function of the central vision is to assist a person with a clear view of the objects for conducting the primary tasks, such as reading and driving. Also, AMD is the leading cause of long-lasting impairment among elderly people aged more than 65 years. According to the U.S. Department of Health & Human Services, it is estimated that 1.8 million Americans aged 40 and older are affected by AMD. The estimated number of people suffering from AMD will reach 2.95 million in 2020.

Emerging Markets to Provide Lucrative Opportunities for Market Growth

Asia-Pacific is estimated to be the fast-growing region due to the increasingly high incidence of visual inaccuracies. The key market players are tapping the market to coup up with the increased demand for the use of contact lenses among the population. Moreover, the increasing adoption of cosmetic lenses, coupled with growing fashion trends, are driving the growth of the market.

Contact Lenses Market: Segmentation

Daily Wear Segment to Dominate the Market during the Forecast Period

Daily wear is expected to remain the dominant segment during the forecast period. The rising consumer preference for daily wear lenses, mainly because of the comfort level it provides to the wearer, drives the segment growth. These lenses are considered healthier options by most users as they do not cause any type of allergy to the user with sensitive eyes. Eye care professionals are also prescribing daily wear lenses as they help avoid problems associated with longer lens replacements.

Hybrid Segment Dominates the Market

The hybrid lens material offers patients with sharper vision as it is associated with a gas permeable central zone, together with the comfort of a soft lens. Hybrids are more comfortable, exhibit better centration, and are more stable. Compared to soft lenses, hybrids are uniquely indicated when the quality of vision is affected by residual high-order aberrations or when tonic soft contact lenses fail to provide stable vision.

The therapeutic segment, on the other handholds the largest market share, as they are useful in a variety of ocular surface diseases. These lenses are mainly used to relieve pain, protect the ocular surface, promote corneal healing and epithelial regeneration, seal a leaking corneal wound, and deliver ophthalmic drugs on the ocular surface.

Regional Overview

North-America-Lead-Contact-Lenses-Market

North America to Dominate the Contact Lenses Market during the Forecast Period

North America dominates the contact lenses market as the region is backed by the presence of a well-established healthcare system, high penetration and adoption rate of contact lenses, along with the surging prevalence of visual inaccuracy diseases. Additionally, the rising geriatric population is further anticipated to propel market growth. In addition, the local presence of key players, high disposable income, and lifestyle changes accelerate the regional market growth

Key Players

  • Abbott Medical Optics (AMO) (Johnson & Johnson Services, Inc.
  • Alcon Management S. A.
  • Bausch & Lomb Incorporated 
  • ZEISS International(Germany)
  • Contamac
  • CooperVision
  • Essilor(France)
  • HOYA Corporation. (Japan)
  • Medennium
  • SEED Co., Ltd. (Japan)

Recent Developments

  • In April 2019, Johnson & Johnson Vision announced the launch of its first-of-a-kind new contact lenses, ACUVUE OASYS, with transitions. The lenses feature a light intelligent technology, dispersed across the material in the form of trillions of photochromic molecules. The lenses, which also provide vision correction, help the eyes adjust to darkness or brightness better than they would do independently.
  • CooperVision'sMiSight contact lens is designed for children ages 8 to 12. It is designed to slow the progression of myopia and has received the Food and Drug Administration (FDA) approval

Contact Lenses Market: Segmentation

By Usage

  • Daily Wear
  • Extended Wear

By Design

  • Multifocal
  • Spherical
  • Toric
  • Others

By Material

  • Gas Permeable
  • Silicon Hydrogel
  • Hybrid

By Application

  • Therapeutic
  • Corrective
  • Cosmetic

By Distribution Channel

  • Eye-Care Professionals
  • E-Commerce
  • Retail

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
    • Russia
    • The Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Korea
    • Australia
    • Southeast Asia
    • The Rest of Asia-Pacific
  • Central and South America and the Caribbean
    • Brazil
    • Argentina
    • Chile
    • The Rest of Central and South America and the Caribbean
  • The Middle East and Africa
    • South Africa
    • Egypt
    • The UAE
    • Saudi Arabia
    • The Rest of MEA

Frequently Asked Questions (FAQs)

Hybrid Segment is expected to be the leading segment in Contact Lenses Market during the forecast period.
North America is expected to hold the highest market share in Contact Lenses Market.
Alcon Management S.A, Bausch & Lomb Incorporated, ZEISS International, Contamac, CooperVision, Essilor, HOYA Corporation, Medennium, SEED Co., Ltd are the top players in Contact Lenses Market.
The contact lenses market is expected to grow with a CAGR of 5.5% during the forecast period.
Increasing investment and initiatives undertaken by the governmental and non-governmental organizations, increasing adoption of cosmetic lenses, coupled with growing fashion trends are the key factors expected to drive Contact Lenses Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.