Global Contact Lenses Market was valued at USD 9,974.25 million in 2021 and growing at a CAGR of 5.14% during the forecast period (2022 to 2027), it is expected to reach USD 13,436.70 million by 2027.
Some of the key factors expected to drive the Contact Lenses Market include the rising prevalence of ophthalmic diseases such as myopia, presbyopia, and astigmatism, among others, a growing sedentary lifestyle, a rising aging population base which is susceptible to the development of presbyopia, and the rising awareness about the Contact Lenses among the end-users. Some of the key companies in the Contact Lenses Market include Alcon Inc, Cooper Vision Inc, Johnson & Johnson Vision, Bausch Health Companies Inc., HOYA Vision Care Company, Contamac, ZEISS Group, SynergEyes, Menicon Co., Ltd., Gelflex, Orion Vision Group, Solotica, Medios, SEED CO. LTD, and others.
DelveInsight’s “Contact Lenses Market” research report provides the current and forecasted Contact Lenses Market trends for the next five years, upcoming innovations in the segment, and individual market shares, challenges, drivers & barriers, and key competitors in the market.
Contact Lenses Overview
Contact Lenses are thin and clear plastic disks worn directly on the cornea to improve vision. These lenses play a crucial role in overcoming different types of refractive errors. Spherical Contact Lenses are used in treating myopia, hyperopia, and bifocal, and monofocal spherical Contact Lenses are used in the treatment of presbyopia.
DelveInsights’ “Contact Lenses Market” report provides in-depth information about Contact Lenses based on segmentation such as product type (soft contact lenses, rigid gas permeable contact lenses, hybrid contact lenses, and others), by lens product type (spherical, toric, multifocal, and others), by usability (daily disposable, frequently disposable, and reusable), by usage (daily wear and extended wear), by applicability (corrective, prosthetic, and cosmetic), and by geography (North America, Europe, Asia-pacific, and rest of the world)
As per DelveInsight’s assessment, based on the usability type, the daily disposable lenses market is projected to register significant growth in terms of revenue owing to several advantages associated with wearing daily disposable contact lenses. The daily disposable lenses market continues to grow at an immense rate by 2027, owing to the growing demand as these lenses require low maintenance on the user’s part.
As per DelveInsight, the Contact Lenses Market is expected to grow remarkably during the forecast period owing to the growing prevalence of ophthalmic diseases such as myopia, hyperopia, and astigmatism, among others. According to the WHO, presbyopia accounted for approximately 1.8 billion cases across the globe, and the number of cases is expected to rise in the coming years.
According to International Myopia Institute (2022), nearly 30% of the world is currently myopic, and by 2050, the number of myopic people is said to grow to 50%, accounting for five billion. Moreover, the rising population in the age group of 40-65 is another factor resulting in the increasing prevalence of presbyopia.
Apart from the rising prevalence of ophthalmic diseases, the continuous research and development activities, the growing interest by companies in the lenses manufacturing, and the positive approach by the regulatory authorities will also contribute to the contact lens market growth. However, the availability of alternative products and complications associated with contact lenses may hamper the Contact Lenses Market growth.
Interested to know more about the ongoing developments in the Global Contact Lenses? Visit to get an in-depth insight into Contact Lenses Types and Emerging Products
As per DelveInsight, North America is expected to dominate the global Contact Lenses Market in terms of revenue generation. The extensive use of Contact Lenses by end-users is one of the major factors expected to drive the North American Contact Lenses Market. The other major factors, such as a large patient pool associated with refractive errors, high consumer awareness, new product launches, growing interest by pharma companies in product development, and the local presence of key market players, among others, will also drive the market growth.
According to CDC (2021), in the US, nearly 45 million people wore Contact Lenses. Additionally, it is observed that two-thirds of contact lens wearers were female. The Contact Lenses are flexible to use in sports, lifestyle, and vocational. In the upcoming years, several key companies are expected to enter the market and numerous products are also expected to receive regulatory approvals.
Similarly, in Canada, the Contact Lenses Market will observe positive growth. As per the Canadian Association of Optometrists, nearly 30 percent of the Canadian population is myopic. In addition to its increased prevalence in Canada, myopia is occurring at earlier ages and progressing at rates faster than seen in previous generations. Overall, product development activities, along with the presence of a large patient pool, will propel the Contact Lenses Market in Canada.
Interested in knowing how the Global Contact Lenses Market will be growing by 2027? Click to get a snapshot of Contact Lenses Market Trends and Developments.
Over the years, the Contact Lenses Market has evolved significantly owing to the active participation of global pharma companies and technological advancements in the domain.
Here are a few of the key developments in the Contact Lenses Market over the past few years –
- In April 2022, Alcon, the global leader in eye care, announced the launch of the PRECISION1® for Astigmatism in Canada. The daily disposable, silicone hydrogel (SiHy) Contact Lenses are designed for astigmatic patients, continuing Alcon’s mission to help people see brilliantly.
- In December 2021, Johnson & Johnson Vision received USFDA approval for its ACUVUE® Abiliti™ Overnight Therapeutic Lenses, the first and only FDA-approved orthokeratology (ortho-k) contact lens for myopia management.
- In February 2021, Johnson & Johnson Vision received the CE Mark for its latest multifocal contact lens, ACUVUE OASYS MULTIFOCAL with PUPIL OPTIMIZED DESIGN for Europe.
As per DelveInsight, the ongoing clinical & commercial development activities and the ongoing research in the domain will contribute immensely to the Contact Lenses Market in the coming years.
Some of the key companies in the Contact Lenses Market include Alcon Inc, Cooper Vision Inc, Johnson & Johnson Vision, Bausch Health Companies Inc., HOYA Vision Care Company, Contamac, ZEISS Group, SynergEyes, Menicon Co., Ltd., Gelflex, Orion Vision Group, Solotica, medios, SEED CO. LTD, and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Contact Lenses Market in the coming years. The entry of new players and the launch of the emerging players will immensely drive the Contact Lenses Market growth.
Learn how new players’ entries will transform the Contact Lenses Market in the coming years at, Contact Lenses’ Competitive Landscape.
Scope of the Contact Lenses Market Report:
- Geography Covered – Global
- Study Period – 2019-2027
- By Product Type – Soft Contact Lenses, Rigid Gas Permeable Contact Lenses, Hybrid Contact Lenses, and Others
- By Lens Product Type – Spherical, Toric, Multifocal, and Others
- By Usability – Daily Disposable, Frequently Disposable, and Reusable
- By Usage – Daily Wear and Extended Wear
- By Applicability – Corrective, Prosthetic, and Cosmetic
- By Geography – North America, Europe, Asia-Pacific, and Rest of the World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View.
Table of Content
|3||Regulatory and Patent Analysis|
|4||Contact Lenses Market Key factors analysis|
|5||Contact Lenses Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Contact Lenses Market|
|7||Contact Lenses Market Layout|
|8||Contact Lenses Global Company Share Analysis – Key 3-5 Companies|
|9||Contact Lenses Product Profiles and Key Companies|
Reach out to us to get a more detailed overview of the Contact Lenses Regulatory & Patent Analysis
Key Takeaways From the Contact Lenses Market Report Study
- In-depth analysis of the Contact Lenses Market size, share, and key trends.
- Comprehensive analysis of current Contact Lenses Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Contact Lenses Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Contact Lenses Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Contact Lenses Market.
- Various opportunities are available for the other competitors in the Contact Lenses Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Contact Lenses Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Contact Lenses Market growth in the coming future?
Related Healthcare Reports by DelveInsight
- Myopia Epidemiology Forecast
- Myopia Pipeline Insight
- Myopia Market
- Myopia Treatment Devices Market
- Myopia Progression Market
- Presbyopia Market
- Presbyopia Epidemiology Forecast
- Presbyopia Market
- Astigmatism Market
- Astigmatism Epidemiology Forecast
- Ophthalmic Laser Devices – Market
- Ophthalmic Femtosecond Laser Market
- Ophthalmic Devices Market
- Ophthalmic Imaging Equipment Market
Other Trending Healthcare Reports by DelveInsight
- Bacterial Conjunctivitis Market
- Bevacizumab Biosimilars Insight
- Brain Hemorrhage Market
- Dense Deposit Disease Market
- Gene And Cell Therapies In Rare Disorder Market
- Goitre Market
- Mucinous Cystic Neoplasms (MCNs) Market
- Preeclampsia Market
- Secondary Hyperparathyroidism Market
- Tenosynovitis Market
- US Healthcare Outlook Report
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
Get in touch with our team to get more detailed insights into how the MedTech Market is expected to evolve in the coming years and to formulate innovative business solutions at MedTech Consulting Solutions.