Home > Reports > Therapeutic Contact Lenses Market Size, Share and Forecast to 2030

Therapeutic Contact Lenses Market

Therapeutic Contact Lenses Market: Information by Product (Soft Lens, Rigid Lens), Applications (Cornea, Drug Delivery), Distribution Channel (E-commerce), and Region — Forecast till 2030

Published On : 19 Jul, 2022
Updated On : 16 Nov, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
7.28 %
Fastest Growing Market:
Europe
Largest Market:
North America

The global therapeutic contact lenses market size was valued at USD 3.78 billion in 2021 and is predicted to reach USD 7.11 billion by 2030, increasing at a CAGR of 7.28% from 2022 to 2030. Therapeutic contact lenses are an important instrument for the treatment of ocular illnesses and other corneal abnormalities. These lenses protect the cornea from external situations and offset the abrasive effects of the patient’s eyelids. Therapeutic contact lenses can help repair tissue, preserve visual acuity and manage pain. Additionally, therapeutic contact lenses are used to protect the ocular surface against mechanical erosions, especially among individuals with repeated corneal erosion syndrome to aid encourage re-epithelialization and alleviate pain. Hence, growing incidences of corneal illnesses are predicted to boost the demand for therapeutic contact lenses throughout the forecast year.

Therapeutic lenses are employed in the treatment of a wide variety of corneal problems, such as corneal erosions, corneal epithelial abnormalities, bullous keratopathy, and postsurgical disorders such as post-laser vision correction and post-keratoplasty. The expansion of the use of therapeutic contact lenses in the treatment of various eye problems is predicted to be a driving force behind the growth of the overall market.

Therapeutic Contact Lenses Market Share

Get more information on this report Download Sample Report

Market Dynamics 

Global Therapeutic Contact Lenses Market Drivers

  • Increase In the Research & Developments for Therapeutic Contact Lenses

The global therapeutic contact lens market is fueled by visual impairment issues such as pain alleviation, corneal healing, sealing & protection, and drug delivery. Therapeutic contact lenses, on the other hand, do away with the necessity for bulky spectacles, increasing a person's appearance. The growth of the therapeutic contact lens market is being bolstered by a flurry of research and development efforts. Various materials are incorporated into the production of contact lenses with various capabilities.

According to a survey conducted by Johnson & Johnson, more than seven out of ten North American adults have difficulty driving, and nearly half of those polled report experiencing stressed eyes as a result of driving under bright lights. Nearly half of the population is bothered by squinting and 56% of Americans wish they could more quickly adjust their eyes to varied light conditions. Therapeutic contact lenses, on the other hand, are now being created to fulfill the demands of a much broader demographic. These elements are expected to drive the global therapeutic contact lens market ahead between 2021 and 2030.

  • The Increasing Prevalence of Glaucoma, Myopia and Other Eye Diseases

As glaucoma's prevalence rises, the demand for therapeutic contact lenses is expected to rise as well. For example, the WHO predicts that the global glaucoma condition population would climb from 76 million people in 2020 to 95 million people in 2030. These lenses will monitor eye pressure and cure glaucoma and are being developed by researchers in nations including China, the United Kingdom, and others.

As the myopia epidemic grows and the number of children who develop myopia at a young age rises, myopia will most probably become more widespread in the future. One of the leading causes of vision loss in East Asian countries, myopia is increasingly becoming more common throughout the world, especially in the United States and Europe. Myopia is also a contributing factor to macular degeneration. Medical costs could skyrocket if the prevalence of severe myopia and its side effects continues at its current rate. School-aged children and teenagers should be subjected to frequent, routine screening programs in order to detect and treat refractive errors.

Global Therapeutic Contact Lenses Market Restraints

  • The Risk of Long-Term Side-Effects

Contact lens wearers may experience negative effects if they continue to wear them for an extended period of time, which could restrain worldwide therapeutic contact lens demand. Some of the most common negative effects of wearing contact lenses are microbial infections induced by the deposition of protein or lipid molecules on the lens surface. Serious visual problems can also occur as a result of these adverse effects, resulting in excruciating pain and agony. Poor hygiene and inconsistent cleaning habits, as well as continuous use, all contribute to an increased risk of infection. Furthermore, the lack of use of therapeutic contact lenses in emerging economies is projected to impede the market's expansion.

Global Therapeutic Contact Lenses Market Opportunites

  • Opportunities Will Arise as A Result of Government Initiatives

The use of contact lenses to correct vision is on the rise, thanks to the fact that they are comfortable and effective. There are a number of initiatives being taken by the government to improve eye health care. As a result, a number of regional governments are stepping up their efforts to raise awareness about the significance of eye health. Over the next several years, the market for improved eye care will develop as a result of favorable government initiatives in countries around the world. It's for this reason that the U.S. Public Health Service and the CDC are working hard to raise awareness about how contact lens wearers' activities and risk factors affect their eye health through programs like the Vision Health Initiative.

Numerous business sector groups are also actively involved in promoting vision care around the world. As an example, Johnson & Johnson Vision conducted a "SpotlightSight" campaign around the world for World Sight Day in 2018. Another leading manufacturer, X-Cel Specialty Contacts, is undertaking a "ChangingLives" campaign to serve patients from low-income households. As a result of these efforts and activities by private sector organizations, lucrative market opportunities are expected to develop over the next few years.

 

Segment Overview of Global Therapeutic Contact Lenses Market

The global therapeutic contact lenses market share is divided into different segments according to the Product, Application, Distribution Channel and Regions (Geography).

By Product, the global therapeutic contact lenses market is segmented into Soft Lens and Rigid Lens. Due to their widespread effectiveness and acceptance rates, soft lenses held the greatest portion of the market in 2021, accounting for over 70% of the total. Therapeutic contact lenses can lessen patients' acute pain for a number of eye disorders. The use of a therapeutic contact lens can significantly enhance a patient's quality of life.

In 2021, the silicon hydrogel market category had a sizable market share. There is a lower risk of issues connected to hypoxia because silicon hydrogel is more compatible than its predecessors with the physiology of the cornea. There are numerous daytime and nighttime silicone hydrogel lenses available.

In 2021, the rigid lens market segment had a sizable market share. For therapeutic and visual purposes, rigid lenses are frequently utilized. Only stiff lenses will improve vision in cases with corneal anomalies that result in a significant amount of irregular astigmatism. The market position is expected to be secured by growing rigid lens adoption and an increase in ocular pathologies as a result of the rigid lens' competitive advantage over the soft lens. Additionally, it is anticipated that increased global R&D spending on rigid lenses will accelerate market growth.

By Application, the global therapeutic contact lenses market is segmented into Corneal Surgery/Disorders, Post Ocular Surgery, Drug Delivery, and Others. In 2021, the post-corneal surgery segment had a market share of about 40%. To reduce discomfort, promote corneal surface healing, and safeguard the cornea, therapeutic contact lenses are frequently utilized. Postoperatively, therapeutic contact lenses are worn to help with pain management. Therapeutic contact lenses are utilized for improved pain management following refractive surgery procedures like photorefractive keratectomy (PRK) or laser epithelial keratomileusis (LASEK).

In 2021, the sector for corneal surgery and disorders retained a sizable market share. Many different ocular surface disorders (OSDs) and corneal conditions are routinely treated with therapeutic contact lenses (TCLs). To close and seal minor corneal injury, therapeutic contact lenses with or without glue adhesives are utilized. They can occasionally be utilized as a bridging procedure before penetrating keratoplasty in bigger corneal holes, boosting the adoption rate of the latter procedure. During the projected period, it is anticipated that an increase in corneal procedures will fuel segment expansion.

By Distribution Channel, the global therapeutic contact lenses market is segmented into Retail, E-Commerce and Others. The market is divided into three categories: retail, e-commerce, and others. With a market share of about 50% in 2021, retail is one of the top segments. The manufacturer's initiative to sell high-tech therapeutic contact lenses at reasonable prices in retail stores, combined with additional discounts offered by retail sellers, has led to the growth of the retail segment. Additionally, it is projected that the market would rise because to the strong expansion of retail pharmacies in developed nations.

Over 7% CAGR was seen in the e-commerce category during the predicted period. The segment's rise can be attributed to manufacturers' increased emphasis on selling their goods online so that patients can easily access them. As an illustration, UltraVision CLPL is growing its business through online sales and developing a line of hydrogel therapeutic contact lenses.

By Region or Geography, the global therapeutic contact lenses market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The therapeutic contact lens market was dominated by North America in 2021.

The second-highest revenue was generated by the European region, which is anticipated to expand at a CAGR of almost 7% over the course of the projected year.

Over the course of the prediction, Asia Pacific is expected to grow significantly. The market for therapeutic contact lenses is expected to expand due to rising consumer purchasing power.

 

Regional Overview of Global Therapeutic Contact Lenses Market

The global therapeutic contact lenses market share is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Therapeutic Contact Lenses Market Regional Analysis

Regional Growth Insights Request Sample Pages

In 2021, North America was the market leader in the therapeutic contact lens industry. The most recent developments in therapeutic contact lenses, the introduction of dynamic soft contact lenses, and the region's flexibility and variety of available options are some of the reasons why North America holds the highest proportion of the market. The expansion of the therapeutic contact lens market is anticipated to be bolstered by factors such as the rising popularity of outdoor activities and the presence of highly developed healthcare infrastructure in both the United States and Canada. Additionally, it is anticipated that the local presence of important market participants in the United States, such as CooperVision, Alcon, Bausch & Lomb Incorporated, and others, will contribute to the acceleration of regional growth.

The European region was responsible for the second-highest revenue, and over the course of the projected period, it is anticipated to experience growth with a CAGR of approximately 7 percent. It is anticipated that an increase in the prevalence of ocular disorders would lead to an increase in the utilization of therapeutic contact lenses among healthcare practitioners. As a result of the availability of trained experts and mature healthcare infrastructure, it is anticipated that the region would experience profitable growth over the course of the time covered by the prediction.

Over the course of the forecast period, it is anticipated that Asia Pacific will expand at a considerable CAGR. It is projected that an increase in the purchasing power of customers will be a driving force behind the expansion of the therapeutic contact lens market. The market is expected to be driven by factors such as the expanding older population base and the growing use of therapeutic contact lenses in countries such as India and China. In addition, rising expenditures in healthcare and activities related to research and development are likely to contribute to an increase in demand for therapeutic contact lenses throughout the course of the projection period.

 

Key Companies & Market Share Insights

List of Top Therapeutic Contact Lenses Market Manufacturers

  • Carl Zeiss AG
  • Abbot Medical Optics, Inc
  • X-Cel Specialty Contacts
  • SynergEyes Inc.
  • Bausch & Lomb Incorporated
  • Johnson and Johnson Vision Care Inc.
  • Alcon Inc.
  • The Cooper Companies Inc.
  • AccuLens Company Inc.
  • CIBA Vision
  • Novartis International AG
  • Hoya Corporation
  • Polylite Sofclear
  • Contamac
  • Haohai Biological Technology

 

Recent Developments

  • June 2022 - Revive™ custom soft contact lenses, a new family of individualized soft contact lenses, have been launched in the United States, according to Bausch + Lomb Corporation, a prominent worldwide eye health firm. Revive™ bespoke soft lenses are created to address the vision demands of more patients, including those with high or unusual prescriptions. They are offered in spherical, toric, multifocal, and multifocal toric variants.
  • March 2022 - The U.S. Food and Drug Administration (FDA) has approved ACUVUE® Theravision™ with ketotifen, according to Johnson & Johnson Vision Care, Inc., a global leader in eye health and subsidiary of the Johnson & Johnson Medical Device Companies. The first in a brand-new class of contact lenses, ACUVUE® Theravision™ with Ketotifen offers contact lens wearers with allergic eye irritation a novel wearing experience.

 

 

Global Therapeutic Contact Lenses Market: Segmentation

By Product

  • Soft Lens
    • Silicon hydrogel
    • Hydrogel
    • Others
  • Rigid Lens

By Applications

  • Corneal Surgery/Disorders
  • Post Ocular Surgery
  • Drug Delivery
  • Others

By Distribution Channel

  • Retail
  • E-commerce
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Latin America
  • Middle East and Africa (MEA)
Price Starts From
$4250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers