Contact Lenses Market 2022
The contact lenses market is growing at a CAGR of 5.97% during the forecast period. Contact lenses constitute an essential component of the global vision care market. The growing adoption of contact lenses for restoring multiple vision dysfunctions, such as myopia, hyperopia, astigmatism, and presbyopia, will promote the growth of the global contact lenses market. The growing focus on the aesthetic look and the popularity of colored contact lenses in the fashion industry will boost the demand for these vision care products in the global market.
KEY HIGHLIGHTS
Technological advances in the manufacturing process of making the product drive growth in the market. For instance, CooperVision has partnered with the plastic bank to develop a “plastic neutral” contact lens. CooperVision, one of the key players, has taken the step to produce recycled material-based contact lenses in the market.
There is a growing number of people with visual impairments, which will increase further in the forecast period. The growing target population in the contact lenses market due to myopia, the growing elderly population, and the increasing preference for contact lenses over prescription spectacles will drive the market in the near future.
Key Vendors
Johnson & Johnson Vision Care
The Cooper Companies
Alcon
Bausch & Lomb
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Contact lenses market is segmented on the basis of:
- Material
- Application
- Design
- Usage
- Distribution Channel
- Geography
CONTACT LENSES MARKET SEGMENTATION
- Silicone hydrogel contact lenses benefit like they can help minimize risk, including red eyes, swollen corneas, and blurred vision. Some of the factors why silicon hydrogel lenses are preferred are extended wear, continuous wear, increased comfort, and performance.
- The changing lifestyle and environmental conditions such as smoking, high exposure to UV rays, pollutants also enhance the number of eye disorders such as refractive error, cataracts, and glaucoma. The increase in the diabetic population also contributes to the rise of eye disorders such as glaucoma, retinopathy, cataracts, temporary blurring of vision. All these factors are expected to boost the demand for corrective contact lenses in the market during the forecast period.
Market Segmentation by Material
- Silicone Hydrogel
- Hydrogel
- Gp/Rgp
- Others
Market Segmentation by Application
- Corrective
- Therapeutic
- Cosmetic
Market Segmentation by Design
- Spherical
- Toric
- Multifocal
Market Segmentation by Usage
- Daily Disposable
- Frequent Replacement
Market Segmentation by Distribution Channel
- Retail Stores
- Hospital And Eye Care
- Online Stores
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