The contact lens market is expected to reach US$12.5 billion by
NEWARK, Del., April 27, 2022 (GLOBE NEWSWIRE) — The global contact lens market is expected to reach US$12.5 billion in revenue by the end of 2029. A new Future Market Insights study ( IMF) reveals that the Contact Lens Market will witness a Moderate CAGR in 2029. Soft contact lenses are the most prescribed contact lenses, while toric lens designs are gaining popularity significantly over the past few years. The latter are gaining ground thanks to their mixed astigmatism correction properties.
In addition, these lenses are fashionable, serve a variety of purposes due to their anti-radiation properties (blocking UV rays) and their abilities to filter low light and work on miniature components. The demand for silicone hydrogel contact lenses is also constantly increasing, as they reduce the risk of hypoxia-related eye problems.
Request a sample report:
List of Major Players Covered in Contact Lenses Market are:
- CooperVision, Inc.
- Johnson & Johnson Vision Care, Inc.
- Hoya Vision Care Company
- Alcon (division of Novartis AG)
- Bausch & Lomb Incorporated
- BenQ Materials Company
- ZEISS International
- SEED Co.Ltd.
- Essilor International S.A.
- Menicon Co.Ltd.
Key Takeaways – Contact Lenses Market
- North America is expected to maintain its dominant position in the global contact lens market owing to high adoption of contact lenses, high demand for branded products and frequent new product launches, coupled with the large presence leading players in the region.
- Soft lenses continue to be the top seller, accounting for nearly 80% of overall sales in the contact lens market. These lenses are widely prescribed by doctors, user friendly and easier to fit than rigid contact lenses.
- The increasing use of therapeutic (drug eluting) contact lenses for ophthalmic drug delivery is creating a huge window of opportunity in the global contact lens market. These lenses would generate interest with their unique benefits such as extended wear and high bioavailability.
Browse Detailed Abstract of Research Report with TOC:
The growing prevalence of myopia in young children and the elderly will continue to create significant opportunities for the major players in the contact lens market. Soft daily wear contact lenses made of flexible plastic that allow oxygen to pass through the eyes are gaining popularity in the market. Apart from these innovations, online sales will help manufacturers reap significant profits in the global market.
Smart contact lenses are gaining traction
Contact lens companies have introduced new products to the market, thanks to advances in R&D. Smart contact lenses are one such innovation that continues to gain popularity around the world. These lenses do not require surgery and can be inserted or removed by users. Researchers from the Harbin Institute of Technology in China and the University of California, San Diego are developing innovative biomimetic smart soft contact lenses that users can zoom in and out with a simple blink.
Learn more about the Contact Lenses market report
Future Market Insights, in its new offering, provides analysis of the global contact lens market, showcasing historical demand data (2014-2021) and forecast statistics for the period 2022-2029. The global Contact Lenses market report reveals compelling insights on the basis of product type (Soft Lenses [daily wear and extended wear] and gas permeable), design type (spherical, toric, multifocal and others), wear type (disposable and reusable) and sales channel (online [e-Commerce portal and company owned portal] and offline [exclusive stores and multiband stores]), in seven major regions.
Order a full research report:
Detailed Table of Contents:
- Global Market Outlook
- Summary of key statistics
- Summary of key findings
- Analysis of product evolution
- Analysis and recommendations
- Market overview
- Market Taxonomy
- Market definition
- Main market trends
- Key trends impacting the market
- Product Innovation Trends
- Evolution of the eyewear industry
- Eyewear Industry Future Prospects
- Factors promoting growth
- Influx of brands
- Innovative distribution and marketing strategies
- The massive impact of the crisis
- Covid-19 The current situation
- Countries in action: how have countries reacted?
- The Economic Impact of the COVID-19 Outbreak on Developing Asia
- Impact of COVID-19 on gross domestic product of selected economies
- Current economic projection – GDP/GVA and likely impact
- Comparison of SAARs and market recovery, comparison with 2008 financial crisis and market recovery and comparison of forecasts for COVID 19 recovery
- Impact of Covid-19 on the manufacturing industry
- Impact of the coronavirus on the world of work
- Projected recovery for the hardest hit sectors
- Brand mapping analysis
- Price versus product
- Value for money
- The best contact lens brands
- Brand portfolio by key players
- Brand Loyalty Mapping
- Overview of the usage model
- Branded vs unbranded market
Talk to our research expert:
See related research reports:
Popcorn Maker Market Overview, Demand, Growth and Forecast 2030
Lunch Boxes and Lunch Bags Market Research Report 2020: Industry Trends, Growth, Forecast 2030
Outdoor Bar Furniture Market Analysis, Demands and Forecast 2030
About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
Future Market Outlook Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
Such. : +1-845-579-5705
For sales inquiries: [email protected]
LinkedIn| Twitter| Blogs