This report aims to provide detailed insights into the global Contact Lenses Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth:
The global contact lenses market size is projected to reach USD 10.2 billion by 2025 from USD 7.4 billion in 2020, at a CAGR of 6.7%.
Market growth is driven mainly by the growing prevalence of myopia, increasing preference for contact lenses over prescription eyeglasses, and the growing geriatric population worldwide.
The untapped emerging economies are expected to provide growth opportunities for players in the contact lenses market. On the other hand, the shortage of ophthalmologists and regulatory barriers are expected to challenge market growth to a certain extent in the coming years. In this report, the contact lenses market is segmented based on products and distribution channels.
Download PDF Brochure:
Key Market Players
Some of the prominent players in this market are Johnson & Johnson (US), Alcon (Switzerland), The Cooper Companies (US), Bausch + Lomb (US), Carl Zeiss Meditec AG (Germany), HOYA Corporation (Japan), EssilorLuxottica (France), SEED Co., Ltd. (Japan), Menicon Co., Ltd. (Japan), and BenQ Materials Corporation (Taiwan).
Increasing incidences of myopia to drive the demand for spherical lenses of contact lenses market in 2019
Based on material, the contact lenses market is segmented into spherical, toric, multifocal, monovision, and cosmetic lenses. The spherical segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the higher adoption of these lenses by optometrists and patients to treat myopia (nearsightedness) or hyperopia (farsightedness) and the rising prevalence of these ailments.
The retail store segment accounted for the largest market share in 2019
Based on the distribution channel, the contact lenses market is segmented into retail stores, hospitals and clinics, and e-commerce. In 2019, retail stores accounted for the largest share of the contact lenses market, followed by hospitals & clinics and e-commerce. The large share of retail stores can be attributed to rising disposable income and the demand for cosmetic contact lenses. Moreover, these stores dispense OTC daily wear disposable contact lenses, resulting in a higher sales volume.
North America was the largest regional market for contact lenses market in 2019
The contact lenses market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa. In 2019, North America accounted for the largest share. The rising prevalence of age-related eye diseases, increasing healthcare expenditure, rising disposable income, and technological advancements in contact lenses and related products are driving the growth of the contact lenses market in North America.
Request Sample Report:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441