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Contact Lenses Market Size to Reach USD 11.91 Billion in 2028 Growing at a CAGR of 6.2%, according to Emergen Research

December 30th, 2021 Emergen Research Releases

Emergen Research has published its latest report titled “Contact Lenses Market By Usage (Daily Wear, Extended Wear, Traditional Lenses), By Design (Monovision, Spherical, Toric, Multifocal), By Material (Hybrid, Silicone Hydrogel, Rigid Gas Permeable, PMMA), By Application (Therapeutic, Lifestyle-Oriented, Prosthetic, Cosmetic, Corrective), By Marketing Channel (Online, Offline), and By Region”

According to Emergen Research, the global contact lenses market size was USD 7.36 Billion in 2020 and is expected to reach USD 11.91 Billion in 2028 and register a revenue CAGR of 6.2% during the forecast period, 2021-2028.

Market Dynamics:

Contact lenses have the power to completely change user’s eyesight. Majority of contact lenses are made to address refractive errors such farsightedness, astigmatism, and nearsightedness. There are also custom lenses designed to meet certain requirements due to technological advancements in optics and optometry and growing popularity of these customized contact lenses is a key factor expected to drive the global contact lenses market revenue growth. For instance, hybrid contact lenses combine the best characteristics of hard and soft lenses.

The center of hybrid lens is made of durable material and does not change its shape. This eliminates or reduces the problem of lenses rotation or adopting the irregular corneal shape. As a result, contact lenses are popular in sports and other outdoor activities. In addition, the wearer can also wear sunglasses, goggles, and other eyewear of his or her choice without worrying about compatibility with prescription lenses. The easy availability of a wide selection of contact lenses due to increasing fashion styles, need for eliminating the use of spectacles and rising disposable income of a consumer surge demand for contact lenses in the global market.

Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/578

However, even when wearing strict hygiene guidelines, wearers of contact lenses are at a greater risk for infections, eye injuries, irritation, dry eyes, and redness. Contact lenses demand even more attention than glasses. Wearer must clean and keep them correctly. If contacts lenses are not cleaned properly or proper hygiene care is not taken care off, it can acquire dangerous eye infections. Also, when the lenses rotate, vision may get fuzzy if wearer have a lot of astigmatism. These risk associated with contact lenses, high cost of certain lenses with customizations and increasing awareness regarding benefits of eyeglasses over contact lenses due to less maintenance required are some factors expected to restrain contact lenses market to a certain extent over the forecast period.

COVID-19 Impact Analysis  

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Daily Wear Contact Lenses Segment Revenue to Expand at a Rapid CAGR:

Daily wear contact lenses segment revenue is expected to expand at a rapid CAGR throughout the forecast period. The segment is further segmented into daily disposable contact lenses and daily reusable contact lenses. Daily disposables contact lenses are considered as the healthiest option as it is comfortable, easy to use, hygienic, low maintenance and less or no chances for harmful deposits to build up on the contact lenses.

Corrective Lenses Segment to Register Significant Revenue Growth:

Corrective lenses segment is expected to register significantly larger revenue share over the forecast period due to increasing prevalence of refractive errors. A corrective lens (also known as a transmissive optical device) is a lens that is worn in front of the eye to improve eyesight. To repair a refractive defect, some people require vision correction. Astigmatism, myopia, hypermetropia, and presbyopia are the most frequent refractive defects treated.

North America to Account for Largest Revenue Share:

North America is expected to account for largest revenue share in the global market during the forecast period due to growing research on eye related problems, increasing awareness among individuals regarding eye health resulting in large scale adoption of contact lenses. In addition, growing geriatric population and technological advancements in contact lenses are some other factors expected to contribute to the market growth in the countries of the region over the forecast period.

Buy your Exclusive copy@ https://www.emergenresearch.com/select-license/578

Major Companies in the Market Include:

  • Johnson & Johnson
  • Bausch + Lomb
  • Alcon
  • Carl Zeiss Meditec AG
  • HOYA Corporation
  • The Cooper Companies
  • Seed Co., Ltd.
  • EssilorLuxottica (France)
  • BenQ Materials Corporation
  • Menicon Co., Ltd.

For the purpose of this report, Emergen Research has segmented the global contact lenses market based on usage, design, material, application, marketing channel, and region:

Usage Outlook (Revenue, USD Billion; 2018–2028)

    • Daily Wear
      • Disposable
      • Reusable
    • Extended Wear
    • Traditional lenses

Design Outlook (Revenue, USD Billion; 2018–2028)

    • Monovision
    • Spherical
    • Toric
    • Multifocal

Material Outlook (Revenue, USD Billion; 2018–2028)

    • Hybrid
    • Silicone Hydrogel
    • Rigid Gas Permeable
    • PMMA

Application Outlook (Revenue, USD Billion; 2018–2028)

    • Therapeutic
    • Lifestyle-Oriented
    • Prosthetic
    • Cosmetic
    • Corrective

Marketing Channel Outlook (Revenue, USD Billion; 2018–2028)

    • Online
    • Offline
      • Retail Stores
      • Brand Showrooms

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/contact-lenses-market

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Turkey
    • Rest of MEA

Insights into our Other Published Healthcare Reports:

Topical Drug Delivery Market By Product Form (Semi-Solid, Solid Formulations, Transdermal Products, and Liquid Formulations), By Route (Dermal, Ophthalmic, Nasal, Others), By End-Use (Hospitals, Home Healthcare, Clinics, Diagnostic Centers, Burn Center), and By Regions

Medical Smart Textiles Market By Technology (Textile Sensors, Wearable Technology), By Application (Surgery, Bio-Monitoring, Therapy, and Wellness), By End-use (Hospitals and Clinics, Medical Academic and Research Center), and By Region

Operating Room Management Solutions Market By Solution Type (Data management and communication solutions, Operating room supply management solutions, Anesthesia information management solutions, Operating room scheduling solutions, Performance management solutions), By Mode of Deployment (Ob-premises, Cloud-based), By End-Use (Hospitals, Ambulatory surgical centers), and By Region

Patient Registry Software Market By Delivery, By Database, By Registry Type, By Function, By Software Type (Integrated, Standalone), By End-use (Government & Third-Party Administrators, Pharmaceutical Companies, Hospitals, Research Centers, Others), and By Region, Forecast to 2027

Ambulatory EHR Market By Deployment (Cloud-based, On-premises), By Practice Size (Solo Practices, Large Practices, Small-medium-sized Practices), By Application, By End-use (Independent Centers, Hospital-owned Ambulatory Centers, Others), and By Region, Forecasts to 2027

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

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