The global disposable contact lens market was valued at USD 7.34 billion in 2022. It is estimated to reach USD 16.03 billion by 2031, growing at a CAGR of 9.07% during the forecast period (2023–2031). The paradigm shift toward premium-priced and cosmetic contact lenses, the rise of e-commerce, the introduction of new products, and the expansion of the target population are driving the disposable contact lens market.
A contact lens refers to a slender and curved lens placed within the tear film that covers the eye's surface. The lens is naturally transparent but frequently tinted to make it simpler for wearers. Daily disposable lenses are one-time-use lenses taken out and thrown away at the end of each day and replaced with fresh lenses the next morning. Due to their health and convenience advantages, daily contact lenses are gaining popularity among practitioners and consumers.
"Disposable" does not always imply single-use in the world of contact lenses. Daily lenses that are discarded every two weeks are sometimes referred to as disposable. "Daily disposable" refers to removing and disposing of lenses daily. According to the FDA, contact lenses that are impermanent are frequently replaced. These lenses can be worn continuously for the prescribed period before being discarded.
|Market Size||USD 16.03 billion by 2031|
|Fastest Growing Market||Asia-Pacific|
|Largest Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
The number of people suffering from vision impairments is increasing across the globe. This increase in the target population directly increases the number of people using disposable contact lenses in the market. More than 153 million people have uncorrected refractive errors, and 1.8 million have presbyopia, projected to increase to 2.1 billion in 2030.
Aged people have a higher risk of eye impairment compared to other age groups. This largely increases the usage of disposable contact lenses among the aged population. According to the UN, the aged population (over 60 years) is estimated to be more than 2 billion by 2050. This increase in the aged population will positively impact the disposable contact lenses in the market.
According to the latest worldwide prescribing data, an average of 45% of soft lenses were prescribed in 2019 as daily disposable contact lenses in which silicone hydrogel-based dailies are mostly prescribed. Mostly, silicon hydrogel-based daily disposable is utilized for eye care owing to its effectiveness, easy handling procedure, and properties. Due to the increased prescription by the ophthalmologists in the market, the growth of the daily disposable silicone hydrogel-based contact lenses increased. The number of benefits available for silicone-based material is also one of the major factors driving the usage of silicone-based contact lenses in the market.
Disposable contact lenses have their own limitations. Some of the serious problems include corneal neovascularization, corneal abrasion, and infectious keratitis. Conversely, some regular or minor problems associated with disposable contact lenses are discomfort, dry eye, corneal infiltration, and giant papillary conjunctivitis. Dry eye is the most common problem found in contact lens wearers. Decreasing oxygen supply and reducing the water level in the eye can cause dry eyes. Such complications associated with disposable contact lenses restrict market growth.
The new product launch is one of the important strategies that large companies follow to acquire new customers and gain market share. Higher acceptance and penetration of disposable contact lenses will open new avenues for vendors. Moreover, cosmetic lenses with new technology and colors give new market trends. Between 2015 and 2020, a significant influx of new items entered the market, stimulating vendor expansion.
The disposable contact lens market key players such as Johnson & Johnson Vision Care Company Segment, Bausch+Lomb, and Alcon Companies launched new products with new technology. For instance, in 2021, J&J Vision Care Company launched an ACUVUE OASYS multifocal pupil with silicone hydrogel material for presbyopia. Furthermore, in 2020, Bausch+Lomb Company received approval from the FDA to infuse daily disposable contact lenses with silicone hydrogel material-based products. Consequently, new product launches and approvals create growth opportunities for the vendors in this market.
North America Dominates the Global Market
Based on region, the global disposable contact lens market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America is the most significant global disposable contact lens market shareholder and is anticipated to exhibit a CAGR of 8.99% during the forecast period. North America is experiencing a steady increase in the use of disposable contact lenses due to high penetration since the early adopters. However, North America's number of new contact lens wearers is relatively low compared to emerging economies. The US was the biggest market for contact lenses, and increasing retail distribution and online sales expansion in the country have increased the market revenue. One of the market's driving forces is the expansion of the target demographic.
In addition, the cost of vision loss and eye issues in the US is between USD 140 billion and USD 150 billion annually. According to a study, around 2 million Americans will be legally blind by 2050, 7 million will suffer from glaucoma, which harms the optic nerve, or age-related macular degeneration, which damages the retina, and 16 million will wear incorrect eyeglasses. This, in turn, significantly raises the demand for disposable contact lenses in the region.
Asia-Pacific is estimated to exhibit a CAGR of 9.64% over the forecast period. The Asia-Pacific region is characterized by a high concentration of countries, including China and India, which significantly drive market growth due to their large populations and corresponding market volumes. The Asia Pacific shows a high prevalence of eye-related disorders that influence the use of contact lenses and other eye care products. As per the International Agency for Prevention of Blindness (IAPB), 11 countries contribute to 26% of the global population in South Asia, around one-third. However, due to low disposable in Asian countries, contact lenses such as disposable contact lenses are still luxury products.
Additionally, spectacles are high in this region, which is one of the limiting factors for using disposable contact lenses in the country. The entry of various e-commerce chains in the region greatly impacts the usage of disposable contact lenses. This largely decreased the product cost in countries like India and China, driving the increase in access to disposable contact lenses in the market.
Europe is the third major region for disposable contact lenses due to increased awareness regarding the usage of disposable contact lenses. In Europe, the contact lens population has increased, and the usage of reusable contact lenses is high compared to disposable contact lenses. During the COVID-19 pandemic, the usage of contact lenses was low in Europe due to the region's increased cases and work-from-home quarantine conditions. There was a huge disturbance in the region's supply chain of contact lens usage. Moreover, there is a surge in the number of aged populations in the region. According to Eurostat, about 18% of the European population is 65 years and older, which is expected to rise to 29.9% by 2050.
In Latin America, one of the major driving factors for using disposable contact lenses is the increasing target population. As usual, Brazil, Mexico, and Argentina were the leading revenue generators for the Latin America contact lens market. Countries like Chile, Colombia, and Peru are expected to expand steadily during the forecast period. It is expected that growth in Latin America during the forecast period will be steady due to the economic recovery and increase in healthcare expenditure in countries like Brazil, Mexico, and Argentina. Therefore, the economic revival, growing investment in vision care by various key stakeholders, and an increase in the middle-class population in Latin America will positively impact disposable contact lens buying patterns, thereby leading to market growth over the next few years.
The global disposable contact lens market is segmented by usage, material, application, distribution, and design.
Based on usage, the global disposable contact lens market is segmented into daily disposable and frequent/planned or extended wear disposable contact lenses.
The daily disposable contact lens segment owns the highest market share and is estimated to exhibit a CAGR of 12.49% during the forecast period. Daily disposable lenses work best with those who use them daily without a gap. Most eye professionals also suggest using daily disposable contact lenses as they are the safest and healthy. Daily disposable contact lenses do not require any cleaning solution or kit and can be discarded without cleaning. This is one of the most important benefits of daily disposable contact lenses. According to the ECP, silicone hydrogel and one-day lenses best safeguard the patient's eye. Around 72% to 92% of the ECP agreed to it.
In addition, 80% of ECPs agreed that silicone hydrogel one-day lenses are more comfortable than hydrogel one-day lenses. Regarding the patient experience and satisfaction, the daily disposable contact lenses satisfy the patients' demanding lifestyle. Many patients prefer shifting to daily disposable contact lenses if the cost of the lenses is reduced.
Based on material, the global disposable contact lens market is bifurcated into silicone hydrogel and hydrogel.
The silicone hydrogel segment dominates the global market and is projected to exhibit a CAGR of 9.56% over the forecast period. In 2002, the first silicone and hydrogel were launched, thus paving the way for material with increasing oxygen permeability and a low water volume. The manufacturers started the use of this material for contact lenses. It has become a dominant material in contact lenses and the disposable contact lenses market. The adoption of silicone hydrogel material in the disposable contact lens segment is increasing because of its oxygen permeability, better performance, comfort, longer wear, and better eye health. Wettability is another factor influencing the use of silicone hydrogel in disposable contact lenses and the clinical performance of contact lenses.
Based on application, the global disposable contact lens market is divided into corrective contact lenses, therapeutic contact lenses, and cosmetic contact lenses.
The corrective contact lenses segment accounts for a large market share and is expected to grow at a CAGR of 9.2% over the forecast period. Disposable contact lenses are one of the best products for correcting vision impairment. Due to the better customer fit and more comfort, ophthalmologists prefer disposable contact lenses for patients for visual comfort. The use of premium contact lenses is also increasing among users. This is mostly due to the comfort of using contact lenses and accuracy with vision corrections.
In addition, contact lenses are utilized to enhance vision and eradicate eye problems. Impermanent contact lenses are required as corrective measures for the four most prevalent eye disorders. Conditions like myopia, astigmatism, hyperopia, and presbyopia are some major vision impairments that fuel the use of contact lenses.
Based on distribution, the global disposable contact lens market is divided into retail stores, hospitals and ophthalmology clinics, and online stores.
The retail stores segment is the most significant contributor to the market and is predicted to exhibit a CAGR of 8.91% over the forecast period. Distribution through retail stores has surged in developing nations like Latin America and Asia compared with developed countries. The reputation and consumer awareness of the brands and customer satisfaction have increased loyalty, which is still driving them to make retail purchases. In addition, multiple commercial campaigns are launched by various retail stores, which attracts users to move to retail stores.
Retail stores also have highly qualified, dedicated vision experts and their best product advice, offering specialized services such as state-of-the-art eye testing, examinations, and diagnostics to patients immediately when required. Moreover, retail stores provide products immediately per consumer requirements, which leads to a fast purchase, whereas online channels take time to deliver products. The use of disposable contact lenses for special occasions has also increased, and people prefer visiting retail stores in a group for special purchases.
Based on design, the global disposable contact lens market is divided into spherical, toric, and multifocal disposable segments.
The spherical segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 7.78% over the forecast period. Spherical contact lenses have a constant curvature and power across the lens surface, which helps to decrease blurred vision and enhances contrast sensitivity. Spherical contact lenses are mostly used for the correction of myopia disorder. Myopia is a common eye condition in which objects at a distance look blurred. Moreover, in hyperopia, the situation is the opposite.
In the treatment of myopia and hyperopia, the use of spherical contact lenses gives better relief. The increasing prevalence of myopia, hyperopia, and presbyopia are the major factors driving the spherical disposable contact lenses market. Myopia is a major global burden for eye care services per the WHO. It is expected to reach 4 billion by 2050.