Contact Lenses Industry Overview
The global contact lenses market size was estimated at USD 17.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.
The increasing cases of refractive errors, such as myopia, hyperopia, presbyopia, and astigmatism, are the major factors driving the demand for contact lenses globally. The growing aging population, which is prone to eye disease has created the demand for contact lenses. In May 2023, during Vision Health Month, the Canadian Ophthalmological Society (COS) emphasized the significance of vision health care, especially among the senior citizens of the country.
Gather more insights about the market drivers, restrains and growth of the Contact Lenses Market
According to a survey conducted by the COS in 2022, 41% of the citizens have been diagnosed or have experienced at least one change in eye health during the last two years. A considerable number of research and development activities have been used in optics and optometry to advance technology. Advances, such as the launch of dynamic soft contact lenses integrated with advanced technology, have propelled the growth of the market. For instance, in July 2022, Mojo Vision announced that the company has conducted one-eye testing on its latest Mojo Lens prototype. It is an augmented reality (AR) contact lens, featuring medical-grade micro-batteries, micro-LED display, new hardware, and technologies, such as communications, eye tracking, and software.
The growth of the market is being further driven by the increasing popularity of cosmetic and colored lenses for aesthetic reasons. Moreover, contact lenses are being increasingly adopted by users with active lifestyles, athletes, and those involved in physical activities, for greater convenience and comfort. Furthermore, the market's leading players engage in launching innovative products, which are expected to drive product demand. In January 2021, Alcon Vision LLC, an eye care product manufacturer, launched PRECISION1 in the U.S., a daily disposable silicone hydrogel (SiHy) lens developed for astigmatic patients.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
- The global passive authentication market size was estimated at USD 1.64 billion in 2023 and is projected to grow at a CAGR of 22.8% from 2024 to 2030.
- The global oil and gas security and service market size was estimated at USD 25.51 billion in 2023 and is expected to expand at a CAGR of 5.4% from 2024 to 2030
Contact Lenses Market Segmentation
Grand View Research has segmented the global contact lenses market based onmaterial, design, application, distribution channel, usage, and region.
Contact Lenses Material Outlook (Revenue, USD Million, 2018 - 2030)
- Gas Permeable
- Silicone Hydrogel
- Hybrid
Contact Lenses Design Outlook (Revenue, USD Million, 2018 - 2030)
- Spherical Lens
- Toric Lens
- Multifocal Lens
- Others Lens
Contact Lenses Application Outlook (Revenue, USD Million, 2018 - 2030)
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-oriented
Contact Lenses Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- E-commerce
- Eye Care Professionals
- Retail
Contact Lenses Usage Outlook (Revenue, USD Million, 2018 - 2030)
- Daily Disposable
- Disposable
- Frequently Disposable
- Traditional (Reusable) Lenses
Contact Lenses Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Singapore
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
Key Companies profiled:
- Essilor International S.A.
- Alcon Vision LLC
- Abbott Medical Optics, Inc.
- CooperVision, Inc.
- Hoya Corporation
- SynergEyes, Inc.
- X-Cel Specialty Contacts
- Johnson & Johnson Vision Care, Inc.
- Medennium; Seed Co., Ltd.
- STAAR Surgical Company
Order a free sample PDF of the Contact Lenses Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
