Contact Lenses Market Size, Share, Industry Analysis Report, by Materials (PMMA, Hybrid, Silicone Hydrogel), Application (Orthokeratology, Decorative Lens), by Usage (Daily Wear, Extended Wear), Region and Industry Forecast 2016 to 2026.

 Pulichser: Innovation Market Research

December 2023

 Pages: 91

 IMR 7441

Contact Lenses (CLs) are lightweight corrective, cosmetic or therapeutic devices that are usually placed directly onto the cornea of the eye. Contact lenses have many benefits for wearers, including appearance and practicality. Many people choose to wear contact lenses as opposed to eyeglasses as they do not steam up, they provide a wider field of vision, and they are more suitable for a number of sporting activities.

Contact lenses serve as a pivotal corrective solution for vision impairments like myopia, hyperopia, astigmatism, and presbyopia. Although their utilization has seen a global surge, myopia remains the most prevalent refractive error globally. The World Health Organization (WHO) underscores this prevalence, particularly in East Asian nations such as China, Japan, South Korea, and Singapore.

Projections from the WHO indicate a substantial increase in the impact of myopia by the year 2050. The estimated affected population stands at approximately 4,947 million for myopia and 925 million for high myopia on a global scale. This underscores the pressing need for corrective measures, with contact lenses emerging as a prominent solution.

The escalating prevalence of myopia, coupled with a heightened investment in ophthalmic products like contact lenses, positions the contact lenses industry for significant growth in the foreseeable future.

The vast population bases in developing countries worldwide, including those in BRIC nations, Mexico, and South Africa, present promising prospects for manufacturers of contact lenses. Notably, India and China collectively host more than half of the global population. This demographic reality not only emphasizes the scale of the market but also underscores the potential for substantial growth and market penetration.

As these emerging markets witness an increased awareness of eye care and a rise in disposable income, the demand for contact lenses is expected to experience a notable upswing. Moreover, the evolving lifestyle choices, coupled with a burgeoning middle-class population, further contribute to the burgeoning opportunities within these regions.

The contact lenses industry stands poised for substantial growth, driven by the rising prevalence of myopia globally and the untapped potential within emerging markets. Manufacturers and stakeholders in the industry are well-positioned to capitalize on these opportunities by aligning their strategies with the evolving needs of these diverse markets.

The Global market for contact lenses is categorized on the basis of types, usage, size, designs. Rigid gas permeable (RPG), soft, and hybrid lens are the three major types of contact lenses. Hybrid lenses can register growth at a significant CAGR during the forecast period. These lenses are a combination of soft and RGP lenses.

Ability of these lenses to incorporate multiple prescriptions in a single lens can boost the market till 2024. Preference by the patients of age-related ophthalmic ailments and presbyopia can further support the demand. Spherical lenses may emerge as one of the fastest growing segments in the near future. Cosmetic technology on the other hand, is expected to lead the overall market in terms of demand during the forecast period.

They feature RGP in the central zone, which is surrounded by a soft peripheral skirt. This portion consists of silicone hydrogel. Hybrid lenses provide the wearing comfort of soft lenses and visual clarity of the RGP lenses. High preference by keratoconus astigmatism patients is projected to propel market growth in the forthcoming years.

The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Contact Lenses by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Product Type Coverage (Market Size & Forecast, Major Company of Product Type etc.):
Rigid Contact Lenses
Soft Contact Lenses
Hybrid Contact Lenses

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
Johnson &Johnson Vision Care
Novartis
CooperVision
Bausch + Lomb
St.Shine Optical
Menicon
Hydron
Weicon
NEO Vision
Clearlab
Oculus
Camax
Seed
Hoya Corp

Application Coverage (Market Size & Forecast, Different Demand Market by Region, Main Consumer Profile etc.):
Corrective Lenses
Therapeutic Lenses
Cosmetic Lenses and Lifestyle-Oriented Lenses

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

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