The contact lenses global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Contact Lenses Market, 2024The contact lenses global market report 2024
Market Size –
The contact lenses market size has grown strongly in recent years. It will grow from $8.60 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to the increasing prevalence of vision disorders, rising awareness of eye health, increase in refractive surgeries, the rise of online retail channels, and expansion of vision care clinics.
The contact lenses market size is expected to see strong growth in the next few years. It will grow to $11.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to the growing prevalence of myopia, increasing demand for daily disposable lenses, rising geriatric population, increasing preference for contact lenses, and increasing cases of refractive errors. Major trends in the forecast period include technological advancements, disposable lenses, UV protection lenses, smart lens technology, and telemedicine.
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Scope Of Contact Lenses MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Contact Lenses Market Overview
Market Drivers –
The rise in the prevalence of eye disorders is expected to propel the growth of the contact lens market in the upcoming years. Eye disorders, which affect the eye’s structure or function and lead to visual impairment, discomfort, or other symptoms, are increasing due to factors such as increased screen time, aging populations, environmental pollution, and lifestyle changes. Contact lenses provide corrective solutions for refractive errors, enhance comfort for dry eyes, and manage conditions like keratoconus with specialized lenses. For example, in March 2024, the Office for Health Improvement and Disparities reported that around 2 million people in the UK have some vision loss, and this number is expected to rise to 2.7 million by 2030. Therefore, the increasing prevalence of eye disorders is driving the growth of the contact lens market.
Market Trends –
Major companies operating in the contact lens market focus on developing innovative products, such as multifocal lenses, to address a wide range of vision correction needs and enhance the overall user experience. Multifocal lenses are specialized contact lenses designed to correct vision at multiple distances, accommodating presbyopia and other conditions affecting the ability to see up close, intermediate ranges, and distance. For instance, in September 2022, Johnson & Johnson Vision Care Inc., a US-based company that provides eye health products, launched ACUVUE OASYS MAX 1-DAY contact lenses, a multifocal presbyopia lens. This cutting-edge lens offers enhanced moisture retention and superior comfort, addressing the discomfort often associated with prolonged screen time. Its advanced HydraMax technology ensures a stable tear film and optimal daily hydration, reducing dryness and irritation. The lens also boasts high-definition visual clarity, minimizing digital eye strain and providing crisp, clear vision.
The contact lenses market covered in this report is segmented –
1) By Type: Corrective Lens, Therapeutic Lenses, Cosmetic And Lifestyle Oriented Lens
2) By Wear Type: Daily Disposable Lenses, Disposable Lenses (Two Weeks or Sooner), Frequent Replacement Lenses (Monthly or Quarterly), Conventional Lenses
3) By Material: Silicone Hydrogel Soft Contact Lens, Methacrylate Hydrogel Soft Contact Lens, Gas-Permeable Contact Lens, Other Materials
4) By Design: Spherical Lens, Toric Lens, Multifocal Lens, Other Design
5) By Distribution Channel: Ophthalmologists, Retail Stores, Online Stores
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Regional Insights –
North America was the largest region in the contact lenses market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Abbott Medical Optics Inc., EssilorLuxottica SA, Alcon Inc., Bausch Health Companies Inc., HOYA Corporation, The Cooper Companies Inc., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., BenQ Materials Corporation, STAAR Surgical Company, Alpha Corporation, SynergEyes Inc., Contamac Ltd., Euclid Systems Corporation, Lenstec Inc., Paragon Vision Sciences, X-Cel Specialty Contacts, Medennium Inc., NEO Vision, Blanchard Contact Lens Inc., Weicon Contact Lens Co. Ltd., Lucid Korea Co. Ltd., Bescon Co. Ltd., Conforma Contact Lens Inc.
Table of Contents
1. Executive Summary
2. Contact Lenses Market Characteristics
3. Contact Lenses Market Trends And Strategies
4. Contact Lenses Market – Macro Economic Scenario
5. Global Contact Lenses Market Size and Growth
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32. Global Contact Lenses Market Competitive Benchmarking
33. Global Contact Lenses Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Contact Lenses Market
35. Contact Lenses Market Future Outlook and Potential Analysis
36. Appendix
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