The global contact lenses market size reached US$ 8.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2022-2028. The increased prevalence of visual inaccuracies, technological advancements in lens design, the surging demand for hydrogel lenses due to their enhanced comfort, and a shift towards more aesthetic, lifestyle-compatible options are some of the major factors propelling the market.
A contact lens refers to a thin, curved lens placed directly on the eye's surface. It is made from medical-grade polymers and is used to correct visual defects, serve cosmetic purposes, or therapeutically protect the eye. Contact lenses are meticulously designed to fit comfortably on the eye's cornea, floating on the tear film layer. They provide an alternative to glasses, offering users a wider field of vision and flexibility, which is especially beneficial in physical activities. Contact lenses are marketed in various forms, including soft, rigid, gas-permeable, extended-wear, disposable, and special-effect lenses. Each type is specialized to cater to diverse user requirements, such as correcting refractive errors, changing eye color, or enhancing comfort.
The increasing prevalence of visual inaccuracies, such as myopia, hypermetropia, astigmatism, and presbyopia, primarily drives the global contact lens market. Besides this, ongoing technological advancements, including the advent of silicone hydrogel lenses and the rise of smart, connected lenses, enhancing user comfort and convenience, are fostering the market growth. Moreover, changing lifestyle dynamics and the aesthetic appeal provided by colored lenses are influencing consumer behavior toward contact lenses over conventional eyeglasses. In addition to this, the growing awareness about eye health, coupled with the widespread availability and accessibility of eye care clinics, is promoting market expansion. Furthermore, inflating disposable incomes and the influence of fashion trends are motivating consumer spending on contact lenses, thus contributing to the market's growth.
Silicone hydrogel-based lenses are attracting substantial demand due to their distinctive properties and advantages over traditional lenses. In addition to this, their advanced material composition allows a greater amount of oxygen to reach the cornea, significantly reducing the risk of dry eyes and irritation, even with prolonged use. The higher moisture content enhances comfort and wearability, promoting user adherence. Furthermore, the improved durability of silicone hydrogel lenses supports long-term use, which is economically beneficial for consumers. Apart from this, the escalating health consciousness among consumers, and the subsequent preference for higher quality eye care products, is escalating the demand for silicone hydrogel-based lenses.
The demand for spherical lenses is primarily driven by their ability to effectively correct common refractive errors, such as myopia and hyperopia. Their simple, one-power design allows for a seamless focus adjustment, enabling users to view objects clearly at various distances. Furthermore, the broad range of power options offered in spherical lenses caters to a wider customer base with varying degrees of vision impairment. Besides this, the introduction of user-friendly features such as easy adaptability and compatibility with different eye types contribute to their popularity. Additionally, advancements in manufacturing technologies have improved the comfort and affordability of these lenses, leading to increased adoption.
The adoption of daily disposable lenses is primarily fueled by their exceptional convenience and hygiene benefits. These lenses eliminate the need for cleaning and storage, significantly reducing the risk of lens-related infections and eye complications. The fact that users wear a fresh pair each day minimizes potential allergen and protein buildup, a boon for those with allergies or sensitive eyes. Furthermore, their usage aligns well with on-the-go lifestyles, requiring no maintenance and providing an easy replacement if lost or damaged. Additionally, the development of cost-effective daily disposable lenses has made them more accessible, thereby increasing their appeal among a larger demographic.
The demand for lenses in corrective applications is mainly driven by their proven effectiveness in managing a range of refractive errors. They offer precise vision correction, often providing sharper and wider visual fields compared to glasses. Furthermore, they don't fog up or get splattered by rain, providing consistent visibility under various conditions. Besides this, contact lenses also offer benefits in activities where glasses may be inconvenient, such as sports or in environments requiring safety gear, which strengthens their demand. Additionally, the availability of custom-made lenses to cater to specific visual disorders and the advancement of technologies that enhance comfort and usability further propel the adoption of lenses in corrective applications.
Retail stores provide instant access to the product, enabling customers to make immediate purchases, unlike online platforms, which require shipping time. Besides this, retail outlets also offer personalized customer service with expert assistance, helping customers make informed choices based on their unique needs, propelling the market growth. Furthermore, the ability to physically examine and try the product enhances buyer confidence aiding in market expansion. Retail stores typically offer a wide variety of brands and types of lenses under one roof, enhancing their appeal. The consistent availability and potential for immediate professional consultation are influencing market growth.
The demand for lenses in North America is being propelled by the region's increasing cases of vision-related issues attributed to lifestyle factors like prolonged digital screen exposure. Concurrent with this, the presence of a robust healthcare infrastructure facilitates regular eye examinations, leading to early detection and correction of visual problems. In addition to this, North America's advanced market, marked by high consumer purchasing power, supports the uptake of innovative, higher-priced lens options, including daily disposables and silicone hydrogels. Furthermore, heightened consumer awareness about eye health and the benefits of lenses over glasses contribute to the strong demand for contact lenses in this region.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
In June 2023, EssilorLuxottica and Jimmy Choo announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Jimmy Choo Eyewear.
In June 2023, Bausch + Lomb Corporation entered into a definitive agreement with Novartis under which Bausch + Lomb will acquire XIIDRA® (lifitegrast ophthalmic solution).
2. What is the expected growth rate of the global contact lenses market during 2023-2028?
3. What are the key factors driving the global contact lenses market?
4. What has been the impact of COVID-19 on the global contact lenses market?
5. What is the breakup of the global contact lenses market based on the material?
6. What is the breakup of the global contact lenses market based on the design?
7. What is the breakup of the global contact lenses market based on the usage?
8. What is the breakup of the global contact lenses market based on the application?
9. What is the breakup of the global contact lenses market based on the distribution channel?
10. What are the key regions in the global contact lenses market?
11. Who are the key players/companies in the global contact lenses market?
A contact lens refers to a thin, curved lens placed directly on the eye's surface. It is made from medical-grade polymers and is used to correct visual defects, serve cosmetic purposes, or therapeutically protect the eye. Contact lenses are meticulously designed to fit comfortably on the eye's cornea, floating on the tear film layer. They provide an alternative to glasses, offering users a wider field of vision and flexibility, which is especially beneficial in physical activities. Contact lenses are marketed in various forms, including soft, rigid, gas-permeable, extended-wear, disposable, and special-effect lenses. Each type is specialized to cater to diverse user requirements, such as correcting refractive errors, changing eye color, or enhancing comfort.
The increasing prevalence of visual inaccuracies, such as myopia, hypermetropia, astigmatism, and presbyopia, primarily drives the global contact lens market. Besides this, ongoing technological advancements, including the advent of silicone hydrogel lenses and the rise of smart, connected lenses, enhancing user comfort and convenience, are fostering the market growth. Moreover, changing lifestyle dynamics and the aesthetic appeal provided by colored lenses are influencing consumer behavior toward contact lenses over conventional eyeglasses. In addition to this, the growing awareness about eye health, coupled with the widespread availability and accessibility of eye care clinics, is promoting market expansion. Furthermore, inflating disposable incomes and the influence of fashion trends are motivating consumer spending on contact lenses, thus contributing to the market's growth.
Contact Lenses Market Trends/Drivers:
- Rising prevalence of visual inaccuracies
Significant technological advancements
Ongoing innovations in technology are continually improving contact lenses, making them more comfortable, functional, and appealing to a broader user base. In line with this, the introduction of silicone hydrogel lenses has dramatically enhanced oxygen permeability, ensuring healthier and more comfortable wear for extended periods. In addition to this, the development of smart lenses equipped with sensors to monitor intraocular pressure or glucose levels represents a breakthrough in the medical field, thereby fostering the market growth.Changing lifestyle and aesthetic appeal
In the contemporary world, where physical appearance and personal style holds significant importance, contact lenses, especially colored and cosmetic ones, are gaining traction. They offer a practical solution for vision correction without altering the wearer's appearance or interfering with daily activities. Furthermore, contact lenses provide a wider field of view, reducing distortions and offering a more natural vision, thus aligning with active, modern lifestyles. This shift towards more dynamic and aesthetically appealing alternatives to eyeglasses is a strong force driving the global contact lens market.Contact Lenses Industry Segmentation:
The publisher provides an analysis of the key trends in each segment of the global contact lenses market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on material, design, usage, application and distribution channel.Breakup by Material:
- Gas Permeable
- Silicone Hydrogel
- Hybrid
- Others
Silicone hydrogel dominates the market
The report has provided a detailed breakup and analysis of the market based on the material. This includes gas permeable, silicone hydrogel, hybrid, and others. According to the report, silicone hydrogel represented the largest segment.Silicone hydrogel-based lenses are attracting substantial demand due to their distinctive properties and advantages over traditional lenses. In addition to this, their advanced material composition allows a greater amount of oxygen to reach the cornea, significantly reducing the risk of dry eyes and irritation, even with prolonged use. The higher moisture content enhances comfort and wearability, promoting user adherence. Furthermore, the improved durability of silicone hydrogel lenses supports long-term use, which is economically beneficial for consumers. Apart from this, the escalating health consciousness among consumers, and the subsequent preference for higher quality eye care products, is escalating the demand for silicone hydrogel-based lenses.
Breakup by Design:
- Spherical
- Toric
- Multifocal
- Others
Spherical holds the largest share in the market
A detailed breakup and analysis of the market based on the design has also been provided in the report. This includes spherical, toric, multifocal, and others. According to the report, spherical accounted for the largest market share.The demand for spherical lenses is primarily driven by their ability to effectively correct common refractive errors, such as myopia and hyperopia. Their simple, one-power design allows for a seamless focus adjustment, enabling users to view objects clearly at various distances. Furthermore, the broad range of power options offered in spherical lenses caters to a wider customer base with varying degrees of vision impairment. Besides this, the introduction of user-friendly features such as easy adaptability and compatibility with different eye types contribute to their popularity. Additionally, advancements in manufacturing technologies have improved the comfort and affordability of these lenses, leading to increased adoption.
Breakup by Usage:
- Daily Disposable
- Disposable
- Frequently Replacement
- Traditional
Daily disposable dominates the market
The report has provided a detailed breakup and analysis of the market based on the usage. This includes daily disposable, disposable, frequently replacement, and traditional. According to the report, daily disposable represented the largest segment.The adoption of daily disposable lenses is primarily fueled by their exceptional convenience and hygiene benefits. These lenses eliminate the need for cleaning and storage, significantly reducing the risk of lens-related infections and eye complications. The fact that users wear a fresh pair each day minimizes potential allergen and protein buildup, a boon for those with allergies or sensitive eyes. Furthermore, their usage aligns well with on-the-go lifestyles, requiring no maintenance and providing an easy replacement if lost or damaged. Additionally, the development of cost-effective daily disposable lenses has made them more accessible, thereby increasing their appeal among a larger demographic.
Breakup by Application:
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-oriented
Corrective holds the largest share in the market
A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes corrective, therapeutic, cosmetic, prosthetic, and lifestyle-oriented. According to the report, corrective accounted for the largest market share.The demand for lenses in corrective applications is mainly driven by their proven effectiveness in managing a range of refractive errors. They offer precise vision correction, often providing sharper and wider visual fields compared to glasses. Furthermore, they don't fog up or get splattered by rain, providing consistent visibility under various conditions. Besides this, contact lenses also offer benefits in activities where glasses may be inconvenient, such as sports or in environments requiring safety gear, which strengthens their demand. Additionally, the availability of custom-made lenses to cater to specific visual disorders and the advancement of technologies that enhance comfort and usability further propel the adoption of lenses in corrective applications.
Breakup by Distribution Channel:
- E-commerce
- Eye Care Practitioners
- Retail Stores
Retail stores dominate the market
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes e-commerce, eye care practitioners, and retail stores. According to the report, retail stores represented the largest segment.Retail stores provide instant access to the product, enabling customers to make immediate purchases, unlike online platforms, which require shipping time. Besides this, retail outlets also offer personalized customer service with expert assistance, helping customers make informed choices based on their unique needs, propelling the market growth. Furthermore, the ability to physically examine and try the product enhances buyer confidence aiding in market expansion. Retail stores typically offer a wide variety of brands and types of lenses under one roof, enhancing their appeal. The consistent availability and potential for immediate professional consultation are influencing market growth.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America exhibits a clear dominance, accounting for the largest contact lenses market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.The demand for lenses in North America is being propelled by the region's increasing cases of vision-related issues attributed to lifestyle factors like prolonged digital screen exposure. Concurrent with this, the presence of a robust healthcare infrastructure facilitates regular eye examinations, leading to early detection and correction of visual problems. In addition to this, North America's advanced market, marked by high consumer purchasing power, supports the uptake of innovative, higher-priced lens options, including daily disposables and silicone hydrogels. Furthermore, heightened consumer awareness about eye health and the benefits of lenses over glasses contribute to the strong demand for contact lenses in this region.
Competitive Landscape:
The global contact lens market is marked by intense competition, with several key players vying for market share. These industry leaders boast strong brand recognition, extensive product portfolios, robust distribution networks, and significant investment in R&D activities for innovative lens technology. A growing number of emerging companies are innovating and introducing unique products, thereby intensifying the competition. They leverage advanced technologies to offer specialized products such as custom-made lenses, lenses with high oxygen permeability, and multifocal lenses. Furthermore, strategic actions such as mergers, acquisitions, partnerships, and collaborations are commonplace as companies aim to expand their geographic presence, diversify their product portfolio, and gain a competitive edge.The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Alton Vision LLC
- Bausch & Lomb Incorporated
- Carl Zeiss AG
- Contamac Holdings Limited
- EssilorLuxottica SA
- Hoya Corporation
- Johnson & Johnson Services, Inc.
- Menicon Co. Limited
- SEED Co. Limited
- SynergEyes Inc.
- Cooper Companies Inc.
Recent Developments:
In July 2023, The European Molecular Biology Laboratory (EMBL) and ZEISS entered a long-term strategic partnership with aims to close the gap between early-stage imaging technology development and its application in life science research.In June 2023, EssilorLuxottica and Jimmy Choo announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Jimmy Choo Eyewear.
In June 2023, Bausch + Lomb Corporation entered into a definitive agreement with Novartis under which Bausch + Lomb will acquire XIIDRA® (lifitegrast ophthalmic solution).
Key Questions Answered in This Report
1. What was the size of the global contact lenses market in 2022?2. What is the expected growth rate of the global contact lenses market during 2023-2028?
3. What are the key factors driving the global contact lenses market?
4. What has been the impact of COVID-19 on the global contact lenses market?
5. What is the breakup of the global contact lenses market based on the material?
6. What is the breakup of the global contact lenses market based on the design?
7. What is the breakup of the global contact lenses market based on the usage?
8. What is the breakup of the global contact lenses market based on the application?
9. What is the breakup of the global contact lenses market based on the distribution channel?
10. What are the key regions in the global contact lenses market?
11. Who are the key players/companies in the global contact lenses market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Contact Lenses Market
6 Market Breakup by Material
7 Market Breakup by Design
8 Market Breakup by Usage
9 Market Breakup by Application
10 Market Breakup by Distribution Channel
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Alton Vision LLC
- Bausch & Lomb Incorporated
- Carl Zeiss AG
- Contamac Holdings Limited
- EssilorLuxottica SA
- Hoya Corporation
- Johnson & Johnson Services Inc.
- Menicon Co. Limited
- SEED Co. Limited
- SynergEyes Inc.
- Cooper Companies Inc.
Methodology
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