The widely used vision correction device in the United States is contact lens. Millions opt for them as a favored vision correction technique. The Centers for Disease Control and Prevention estimated that approximately forty-five million people in the United States wear contact lenses. They offer convenience and versatility by regularly providing a more natural area of vision than traditional eyeglasses. People of diverse ages and lifestyles have favored them, making them famous nationally.
United States Contact Lenses Growth Drivers
Increase in People with Visual Impairments
The United States touch lenses market is surging due to the growth in people with visual impairments. Approximately 12 million people aged forty and over in the U.S. have vision impairment, including 1 million who are blind, 3 million with vision impairment after correction, and 8 million with uncorrected refractive errors, as the Centers for Disease Control and Prevention mentioned. Factors along with an older population experiencing age-related vision issues and heightened awareness of eye fitness spark more people to seek corrective answers. The comfort of contact lenses, mainly for one's central active lifestyle, is driving this increase.The Contact Lens has undergone significant Technological Advancements
Technological advancements propel growth in the United States contact lenses market. For example, POSTECH developed a wireless theranostic smart lens integrating an intraocular stress sensor and drug shipping system for glaucoma control. These improvements enhance consolation, versatility, and convenience in vision correction. Improved substances offer higher oxygen permeability, decreasing inflammation. Specialized designs address numerous desires, like toric lenses for astigmatism and multifocal lenses for presbyopia. Daily disposables, like Bausch Lomb's silicone hydrogel lens, enhance hygiene and convenience. These improvements meet purchaser demands and increase market attraction. This demonstrates the non-stop evolution of contact lens technology to cater to numerous options and wishes.Government Support for Research and Development projects related to Contact Lenses
The U.S. authorities actively help R&D projects within the contact lens market through investments, grants, and incentives to centers and establishments. For instance, National Grants for Vision Care assist those who can't manage to pay for vision care, covering prices like eye exams and contact lenses. This backing drives comfort, oxygen permeability, and capability improvements, improving market growth. Government projects inspire collaboration among academia, industry, and healthcare experts, ensuring improvements meet evolving purchaser wants. Legislation, which includes the Fairness to Contact Lens Consumers Act, presents rights to customers. It imposes obligations on prescribers and dealers, maintaining U.S. leadership in the global market through innovation and law.Increasing Online availability of Contact Lenses
The availability of contact lenses online appreciably drives the United States market. This gives convenient access and an extensive choice. Platforms like ContactsDirect offer answers for diverse vision problems and competitive pricing, appealing to diverse demographics and people with busy lives or confined access to physical shops. Consumers can examine expenses, browse brands, and order from home, which is specifically appealing during the pandemic. This online accessibility is pivotal in marketplace growth, increasing access and meeting evolving customer possibilities.United States Contact Lenses Company News
The United States contact lens market includes some key players. These are Bausch & Lomb Incorporated, Alcon, Carl Zeiss Meditec AG, The Cooper Companies, Inc., Hoya Corporation, EssilorLuxottica, Menicon Co. Ltd, and SynergEyes Inc.- In January 2023 - Bausch + Lomb is set to acquire AcuFocus, an IC-8 Apthera Intraocular Lens (IOL) manufacturer. The acquisition will be made through an affiliate of Bausch + Lomb. It will merge with the parent company of AcuFocus. This move is expected to enhance Bausch + Lomb's cataract surgical portfolio.
- In March 2023 - CooperVision recently introduced MyDay Energys contact lenses in the United States.
- In May 2023 - Black Pearl Vision, the world's only Black and woman-owned contact lens manufacturer, acquired PolyDev, an Ireland-based manufacturer specializing in color contact lenses, including TORIColors for people with astigmatism.
- In June 2023 - Bausch + Lomb recently introduced the INFUSE multifocal SiHy contact lenses in the U.S.
- In September 2023 - Fielmann Group, a leading European eyewear retailer, announced the successful acquisition of SVS Vision. These acquisitions are important milestones for the German family business, aligning with their Vision 2025 growth strategy and international expansion plans. They aim to empower • U.S. eyewear customers and see these acquisitions as the first step in a long-term plan.
- In October 2023 - Alcon introduced a new type of contact lens called TOTAL30 MF, specifically designed for people with presbyopia.
Material - United States Contact Lenses Market breakup in 3 viewpoints:
1. Gas Permeable2. Silicone Hydrogel
3. Hybrid
Usage - United States Contact Lenses Market breakup in 4 viewpoints:
1. Dark Chocolate Daily Disposable2. Disposable
3. Frequently Disposable
4. Traditional(Reusable) Lenses
Design - United States Contact Lenses Market breakup in 3 viewpoints:
1. Spherical2. Toric
3. Multifocal
Application - United States Contact Lenses Market breakup in 2 viewpoints:
1. Vision Correction2. Cosmetic
Distribution Channel - United States Contact Lenses Market breakup in 3 viewpoints:
1. Vision Correction Online Pharmacy2. Retail Pharmacy
3. Hospital Pharmacy
All the key players have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Bausch & Lomb Incorporated2. Alcon
3. Carl Zeiss Meditec AG
4. The Cooper Companies, Inc.
5. Hoya Corporation
6. EssilorLuxottica
7. Menicon Co. Ltd
8. SynergEyes Inc.
Table of Contents
Companies Mentioned
- Bausch & Lomb Incorporated
- Alcon
- Carl Zeiss Meditec AG
- The Cooper Companies, Inc.
- Hoya Corporation
- EssilorLuxottica
- Menicon Co. Ltd
- SynergEyes Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.96 Billion |
| Forecasted Market Value ( USD | $ 4.47 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
