According to the latest report by IMARC Group “Contact Lenses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global contact lenses market size reached US$ 7.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.8 Billion by 2027, exhibiting a growth rate (CAGR) of 6% during 2022-2027.
Contact lenses are thin, curved lenses worn on the tear films of the eye to correct refractive defects of vision. They also aid in improving the vision of individuals with myopia, hypermetropia, presbyopia, and astigmatism. They are usually available with a prescription from an ophthalmologist to prevent future complications, such as vision loss or blindness, inflammation, and infections.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
As vision becomes weaker with age, the growing geriatric population is positively influencing the demand for contact lenses for vision correction. Besides this, the increasing participation of individuals in sports and other physical activities is catalyzing the need for contact lenses to reduce the risk of eye injury and provide better compatibility with safety gear. Furthermore, the introduction of special lenses to slow the progression of hyperopia and treat keratoconus and other corneal irregularities in children is offering a favorable market outlook. Moreover, increasing investments by leading market players in manufacturing ultraviolet (UV) inhibiting lenses and colored lenses for cosmetic purposes are anticipated to propel the market growth.
Breakup by Material:
- Gas Permeable
- Silicone Hydrogel
- Hybrid
- Others
Breakup by Design:
- Spherical
- Toric
- Multifocal
- Others
Breakup by Usage:
- Daily Disposable
- Disposable
- Frequently Replacement
- Traditional
Breakup by Application:
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-oriented
Breakup by Distribution Channel:
- E-commerce
- Eye Care Practitioners
- Retail Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Alcon Vision LLC
- Bausch & Lomb Incorporated
- Carl Zeiss AG
- Contamac Holdings Limited
- EssilorLuxottica SA
- Hoya Corporation
- Johnson & Johnson
- Menicon Co. Ltd.
- SEED Co. Ltd.
- SynergEyes
- The Cooper Companies Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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