The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The contact lenses market has grown significantly, with the market size increasing from $8.60 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. Historic growth is attributed to the increasing prevalence of vision disorders, rising awareness of eye health, growth in refractive surgeries, the rise of online retail, and the expansion of vision care clinics. Looking ahead, the market is expected to grow further, reaching $11.87 billion in 2028 at a CAGR of 6.7%. This growth will be driven by factors such as the rising prevalence of myopia, increasing demand for daily disposable lenses, an aging population, a preference for contact lenses, and increasing cases of refractive errors. Trends in the forecast period include technological advancements, disposable lenses, UV protection lenses, smart lens technology, and telemedicine.

The rise in the prevalence of eye disorders is expected to propel the growth of the contact lens market in the upcoming years. Eye disorders, which affect the eye’s structure or function and lead to visual impairment, discomfort, or other symptoms, are increasing due to factors such as increased screen time, aging populations, environmental pollution, and lifestyle changes. Contact lenses provide corrective solutions for refractive errors, enhance comfort for dry eyes, and manage conditions like keratoconus with specialized lenses. For example, in March 2024, the Office for Health Improvement and Disparities reported that around 2 million people in the UK have some vision loss, and this number is expected to rise to 2.7 million by 2030. Therefore, the increasing prevalence of eye disorders is driving the growth of the contact lens market.

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What Are The Key Trends That Influence Contact Lenses Market Share Analysis?

Major companies operating in the contact lens market are dedicated to creating innovative products such as multifocal lenses to cater to diverse vision correction needs and enhance the overall user experience. Multifocal lenses are specialized contact lenses designed to correct vision at multiple distances, effectively addressing presbyopia and other conditions that impact close, intermediate, and distance vision. For instance, in September 2022, Johnson & Johnson Vision Care Inc., a US-based eye health products provider, launched ACUVUE OASYS MAX 1-DAY contact lenses, a multifocal presbyopia lens. This advanced lens features enhanced moisture retention and superior comfort, addressing discomfort often associated with prolonged screen time. Its cutting-edge HydraMax technology ensures a stable tear film and optimal daily hydration, reducing dryness and irritation, while its high-definition visual clarity minimizes digital eye strain, delivering crisp, clear vision.

Which Market Players Are Driving Growth In The Contact Lenses Market?

Major companies operating in the contact lenses market are Abbott Medical Optics Inc., EssilorLuxottica SA, Alcon Inc., Bausch Health Companies Inc., HOYA Corporation, The Cooper Companies Inc., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., BenQ Materials Corporation, STAAR Surgical Company, Alpha Corporation, SynergEyes Inc., Contamac Ltd., Euclid Systems Corporation, Lenstec Inc., Paragon Vision Sciences, X-Cel Specialty Contacts, Medennium Inc., NEO Vision, Blanchard Contact Lens Inc., Weicon Contact Lens Co. Ltd., Lucid Korea Co. Ltd., Bescon Co. Ltd., Conforma Contact Lens Inc.

How Is The Global Contact Lenses Market Segmented?

The contact lensesmarket covered in this report is segmented –

1) By Type: Corrective Lens, Therapeutic Lenses, Cosmetic And Lifestyle Oriented Lens
2) By Wear Type: Daily Disposable Lenses, Disposable Lenses (Two Weeks or Sooner), Frequent Replacement Lenses (Monthly or Quarterly), Conventional Lenses
3) By Material: Silicone Hydrogel Soft Contact Lens, Methacrylate Hydrogel Soft Contact Lens, Gas-Permeable Contact Lens, Other Materials
4) By Design: Spherical Lens, Toric Lens, Multifocal Lens, Other Design
5) By Distribution Channel: Ophthalmologists, Retail Stores, Online Stores

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The Contact Lenses Global Market Report 2024 provides an overview of the contact lensesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The contact lenses market forecast analyzes contact lenses market size, contact lenses market share, leading competitor and their market positions.

The Table Of Content For The Contact Lenses Market Include

1. Contact Lenses Market Executive Summary
2. Contact Lenses Market Segments
3. Contact Lenses Market Size And Template Market Growth Rate
4.  Key Contact Lenses Market Trends
5. Major Contact Lenses Market Drivers
……
25. Key Mergers And Acquisitions In The Contact Lenses Market
26. Top Contact Lenses Companies
27. Contact Lenses Market Opportunities And Strategies
28. Contact Lenses Market, Conclusions And Recommendations
29. Appendix

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