Contact Lenses Market Size & Forecast Report, 2014 - 2025

The global Contact Lenses Market is expected to reach USD 17.72 billion by 2025. A contact lens is a curved, lightweight, thin film of tears that is directly placed on the cornea of the eye. It helps to correct refractive errors. The contact lenses industry is anticipated to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe.

The factors that are playing a major role in the market growth of contact lenses are the increasing geriatric populace, rising occurrence of myopia, and high preference for contact lenses over prescribed eyeglasses. However, the presence of alternatives may restrain overall market growth in the years to come. Contact lenses market is segmented based on product type, material, color variation, application, distribution channel, and region.

Traditional, daily wear, and extended wear contact lens are the product types that are explored in the contact lenses industry. The daily wear contact lens sector accounted for the substantial market share of contact lenses and is estimated to lead the overall market in the years to come. The reason could be comfortable and lens cleaning is not necessary.

Polymethyl methacrylate (PMMA), silicone hydrogel, hybrid, hydrogel, and gas-permeable contact lens are the material types that are explored in the market. Silicone hydrogel accounted for the substantial market share of contact lenses. The reason could be the rising demand from end-users.

Based on color variation, visibility tinted, opaque, and enhancers/tinted contact lenses classify the contact lenses market. The opaque sector accounted for the substantial market share of contact lenses and is estimated to lead the overall market in the years to come. The reason could be its use for therapeutic and aesthetic purposes.

The contact lenses industry is categorized based on applications like decorative (Plano), conventional, orthokeratology contact lens, and others. The conventional lenses sector accounted for the significant market share of contact lenses. The reason could be the growing occurrence of myopia and the rising use of contact lenses over given eyeglasses.

Based on distribution channels, the contact lens market is classified into e-commerce, retail stores, hospitals and clinics, and others. The retail stores sector accounted for the substantial market share of contact lenses and is estimated to continue its dominance in the years to come. The reason could be the high demand for cosmetic lenses and increasing disposable income. Also, the hospitals and clinics sector is estimated to grow at the fastest pace in the years to come.

Globally, North America accounted for the substantial market share of contact lenses and is estimated to lead the overall market in the years to come. The reason behind overall market growth could be the rising number of eye-related diseases, the growing geriatric population, developed healthcare infrastructure, rising disposable income, and technological enhancement in the contact lens. The United States is a major consumer of contact lenses in this region. The reason could be rising healthcare expenditure.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second-largest region with a significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. Developing countries like India and China are major consumers of contact lenses in this region.

The key players of the contact lens industry are BenQ Materials Corporation, Johnson & Johnson, Menicon Co., Ltd., Alcon, Inc., SEED Co., Ltd., CooperVision, Inc., Essilor Group, Carl Zeiss Meditech AG, Essilor Group, and HOYA Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Market Segment:

Product Outlook (Revenue, USD Million; 2014 - 2025)
    • RPG lens
    • Soft lens
    • Hybrid lens

Design Outlook (Revenue, USD Million; 2014 - 2025)
    • Spherical
    • Toric
    • Multifocal
    • Others

Usage Outlook (Revenue, USD Million; 2014 - 2025)
    • Corrective
    • Therapeutic
    • Cosmetic
    • Prosthetic
    • Lifestyle-oriented

Regional Outlook (Revenue, USD Million; 2014 - 2025)
    • North America
        • the U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • the UK
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
    • the Middle East and Africa