The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s coloured contact lenses market report forecasts the coloured contact lenses market size to grow to $5.19 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.

Learn More On The Coloured Contact Lenses Market Report 2023 – https://www.thebusinessresearchcompany.com/report/coloured-contact-lenses-global-market-report

Coloured Contact Lenses Market Size Forecast
The global coloured contact lenses market is expected to grow from $3.27 billion in 2022 to $3.62 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The coloured contact lenses market is expected to grow to $5.19 billion in 2027 at a CAGR of 9.4%.

North America held the largest coloured contact lenses market share.

Key Coloured Contact Lenses Market Driver ­– Increase In Number Of Eye Disorders
For instance, in February 2021, according to the Global Eye Health report published by The Lancet Global Health, a US-based, internationally trusted source of global public health knowledge, a projected 596 million people globally, including 43 million blind people, have distance vision impairment. Another 510 million people had uncorrected nearsightedness due to a lack of reading glasses. As a result of population aging, growth, and urbanization, a projected 895 million individuals will have distance vision impairment by 2050, of whom 61 million will be blind. Therefore, an increasing number of eye disorders are driving the growth of the colored contact lens market.

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Key Coloured Contact Lenses Market Trend – Technological Advancement
Major companies operating in the colored contact lens market are focused on innovating new technologies to sustain their position in the market. For instance, in July 2020, Perfect Corp., a US-based beauty tech solutions provider, partnered with a US-based multinational corporation, Johnson & Johnson, to launch contact lens AR virtual try-on within its ACUVUE flagship Taobao and WeChat mini-programs. This is the first colored contact lens virtual try-on service using AR technology that is available on Taobao and WeChat micro-programs. The precise eye position may be detected using Perfect Corp.’s cutting-edge facial recognition technology, which also enables a realistic AR virtual contact lens try-on. Colored contact lenses and AR+AI beauty technology are going beyond virtual makeup try-ons. This innovative online solution is expected to provide customers with a comprehensive, immersive, and hyper-realistic augmented reality beauty experience.

Coloured Contact Lenses Market Segment
1) By Product Type: Soft Contact Lenses, RGP Lenses, and Hybrid Lenses
2) By Material: Polymer, Hydrogen
3) By Application: With Vision Correction, Without Vision Correction
4) By End-Users: Retail Stores, Online Stores, Other Stores

Coloured Contact Lenses Market Major Players and Strategies
Major players in the coloured contact lenses market are CooperVision Inc., Alcon, Bausch + Lomb, Menicon Co. Ltd., Johnson & Johnson, Carl Zeiss AG, Novartis AG, Hoya Corporation, QualiMed Srl, Essilor International, UltraVision CLPL, Clearlab SG Pte Ltd., Oculus Private Limited, Camax Optical Corp., and SEED Co. Ltd.

In September 2022, Black Pearl Global Investments, a US-based asset management firm focused on investing in healthcare, acquired Hydrogel Vision Corp. (HVC) for an undisclosed amount. With this acquisition, HVC will now be known as Black Pearl Vision, making it the only company in the world that is both owned and operated by people of color and women. Hydrogel Vision Corp. (HVC) is a US-based manufacturer and distributor of high-performance contact lenses for men and women.

The Coloured Contact Lenses Global Market Report 2023 covers regional data on coloured contact lenses market size, coloured contact lenses market trends and drivers, opportunities, strategies, and coloured contact lenses market competitor analysis. The countries covered in the coloured contact lenses market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Colored contact lenses are specially designed lenses that allow a person to change the colour of their eyes for a special event. The primary goal is to enhance the wearer’s natural eye colour.

View More Reports Related To The Coloured Contact Lenses Market –
Sunglasses Global Market Report 2023
Ophthalmic Devices Global Market Report 2023
Eyewear Global Market Report 2023

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