Contact Lenses Market Report Size, Research Analysis, Share, Industry Growth, Opportunities, Business Expansion, Forecast to 2026

Posted April 19, 2022 by Prachi001

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%.
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.

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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.

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Country India
Categories Health , Industry , Internet
Tags contact lenses , contact lenses market , contact lenses market size
Last Updated April 19, 2022