Contact Lenses Market worth US$ 11.70 billion 2020 with a CAGR of 5.7%

Published Date: April 2023

The increasing disposable income in the developed countries is promoting the purchase of low-priority commodities, specifically those about cosmetics. Consequently, increasing disposable income in developed countries is a driver for the growth of the global contact lens market. Also, the factors such as ageing population coupled with the increasing prevalence of eye-related disorders, technological advancements, raising awareness, and increasing preference for contact lenses over prescription eyeglasses to enhance aesthetics fuels the growth of contact lenses market.

The report " Global Contact Lenses Market, By Product Type (Soft Contact Lenses, Hybrid Contact Lenses, Rigid Gas Permeable Contact Lenses, and Other Product types), By Usage (Corrective Contact Lenses, Therapeutic Contact Lenses, Cosmetic Contact Lenses, and Prosthetic Contact Lenses), By Modality (Conventional, and Disposable [Daily, Monthly, and Other Disposable Modalities]), By Design (Spherical, Toric, Multifocal, and Other Designs), By Distribution Channel (Spectacle stores, Online Store, and Other Distributions Channels), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”. Global Contact Lenses Market accounted for US$ 11.70 billion in 2020 with a CAGR of 5.7%. 

Key Highlights:

  • In January 2018, CooperVision launched its MyDay toric daily disposable contact lenses in the US.
  • In December 2017, the company announced the availability of expanded parameters for its Avaira Vitality toric two-week contact lenses.

Key Market Insights from the report:        

The Global Contact Lenses Market accounted for US$ 11.70 billion in 2020 and is projected to register a moderate CAGR of 5.7% over the forecast period. The market report has been segmented based on the property type.

  • Based on product type, soft contact lenses segment is dominating the market and rigid gas permeable is expected to exhibit the fastest growth rate over the forecast period.
  • Based on usage, corrective contact lenses are excepted to dominate the market during the forecast period.
  • Based on modality, the global market is segmented into conventional, and disposable. Disposable is further sub-segmented into daily, monthly, and other disposable modalities.
  • Based on the design, the global market is segmented into spherical, toric, multifocal, and other designs.
  • Based on the distribution channel, the global market is segmented into spectacle stores, online store, and other distributions channels.
  • Based on region, North America holds the largest share in the global contact lenses market with the United States being the largest contributor to its revenue. The United States is one of the major countries in the contact lens market, due to the healthcare facilities available in the country and high healthcare conditions.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Contact Lenses Market, By Product Type (Soft Contact Lenses, Hybrid Contact Lenses, Rigid Gas Permeable Contact Lenses, and Other Product types), By Usage (Corrective Contact Lenses, Therapeutic Contact Lenses, Cosmetic Contact Lenses, and Prosthetic Contact Lenses), By Modality (Conventional, and Disposable [Daily, Monthly, and Other Disposable Modalities]), By Design (Spherical, Toric, Multifocal, and Other Designs), By Distribution Channel (Spectacle stores, Online Store, and Other Distributions Channels) - Trends, Analysis and Forecast till 2030

The prominent player operating in the global contact lenses market includes Johnson & Johnson, Alcon, Inc., CooperVision, Inc., and Bausch Lomb, Carl Zeiss Meditech AG, HOYA Corporation, Essilor Group, SEED Co., Ltd., Menicon Co., Ltd., and BenQ Materials Corporation.

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