Contact Lenses Market Research Report: Information By Usage (Daily Wear, Extended Wear, and Traditional Wear), By Design (Spherical, Toric, Multifocal, Monovision, and Cosmetic), By Material (Silicone Hydrogel, Hydrogel, Glass Permeable, Hybrid, and Polymethyl Methacrylate (PMMA)), By Type (Opaque Contact Lenses, Enhanced Contact Lenses, and Tinted Contact Lenses), By Application (Conventional, Orthokeratology, and Decorative), By Distribution Channel (Retail Stores, Hospitals & Clinics, and E-Commerce), and Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2030
The global contact lenses market is projected to reach approximately USD 11.72 billion by 2030, at a CAGR of 3.50% from 2022 to 2030. The factor that drives the global market of contact lenses during the forecast period is increased awareness concerning the benefit of disposable contact lenses, such as avoiding cleaning solution-related negative consequences, including eye discoloration. The contact lens market refers to the industry that deals with the production, distribution, and sale of various types of contact lenses. This market includes different types of contact lenses, such as daily disposable, monthly disposable, extended wear, toric, and multifocal lenses, among others.
Additionally, the market covers various distribution channels, such as online retailers, optical shops, and others. The contact lens market is driven by factors such as an increasing number of people with vision problems, advancements in lens materials, and increasing awareness of vision care. The initial months of the covid-19 pandemic saw a significant decline in the demand for contact lenses as people were avoiding non-essential trips and facing financial constraints due to job losses and reduced income.
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The lockdowns imposed by various governments around the world resulted in the closure of retail stores and optometrists’ offices, causing a slowdown in the sales of contact lenses. The increased demand for contact lenses can be attributed to the fact that people are spending more time at home and are more conscious of their eye health, as they are avoiding the use of glasses to reduce the risk of contracting the virus. The pandemic has also led to the development of new technologies and innovations in the contact lenses market, such as the production of antiviral contact lenses, which have seen increased online sales of contact lenses have also increased during the pandemic.
Contact Lenses Market Segmentation
The Global Contact Lenses market has been segmented into Modality, Design, and Distribution Channel
Based on the Modality, the market has been segmented into Reusable and Disposable.
Based on the Design, the market has been segmented into Toric, Multifocal, and Spherical
Based on the Distribution Channel, the market has been segmented into Ophthalmologists, Retail Stores, and Online Stores
Some of the key market players are
- Johnson & Johnson Vision
- Bausch + Lomb
- Alcon (Novartis AG)
- Essilor International.
Browse In-depth Market Research Report (129 Pages) on Contact Lenses: https://www.marketresearchfuture.com/reports/contact-lenses-market-6210
Contact Lenses Market Regional Analysis
North America is the largest market for contact lenses, with the United States being the largest market in the region. The growth in this region is attributed to the high prevalence of refractive errors, a large aging population, and high disposable income. Europe is the second-largest market, with countries such as Germany, France, and the United Kingdom contributing significantly to the market.
The Asia Pacific region is expected to experience the highest growth rate, driven by factors such as a large population base, rising disposable income, and increasing awareness of eye health. The key markets in the region include China, Japan, and India. The Middle East and Africa and Latin America are also expected to grow significantly, driven by increasing awareness and adoption of contact lenses.
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