According to the report by Expert Market Research (EMR), the global contact lenses market size is projected to grow at a CAGR of 7.10% between 2024 and 2032. Aided by the evolving needs and preferences of consumers in vision correction and cosmetic applications, the market is expected to grow significantly by 2032.
Contact lenses, serving as an alternative to traditional eyeglasses, have gained immense popularity due to their convenience, comfort, and aesthetic appeal. These lenses are small, thin discs designed to be placed directly on the surface of the eye to correct vision or for cosmetic purposes. The versatility and advancements in contact lens technology have made them a preferred choice for individuals seeking vision correction and those wanting to enhance their appearance.
The contact lenses market growth drivers are multi-dimensional. One significant factor is the increasing prevalence of visual impairments and eye disorders globally, primarily due to lifestyle changes, increased screen time, and aging populations. This has led to a surge in the demand for vision correction solutions, where contact lenses offer an effective and convenient option.
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In addition to medical needs, there is a growing trend of using coloured and cosmetic contact lenses, especially among the younger demographic. This trend is driven by the desire for aesthetic enhancement, allowing individuals to change their eye colour or enhance their overall appearance. The fashion and entertainment industries also contribute significantly to this trend, influencing consumer behaviour.
Another key factor contributing to the contact lenses market demand is technological advancements. Innovations in lens materials, design, and manufacturing processes have led to the development of more comfortable, breathable, and longer-wearing lenses. Silicone hydrogel lenses, for example, allow more oxygen to pass through to the cornea, reducing the risk of eye irritation and infections, and making lenses suitable for extended wear.
The contact lenses market outlook is also getting influenced by the increasing availability and accessibility of contact lenses. With the rise of e-commerce and online retail platforms, consumers can easily purchase contact lenses from the comfort of their homes. This convenience, coupled with the broadening range of options available online, has significantly contributed to market growth.
Contact Lenses Market Segmentation
The market can be divided based on material, design, application, distribution channel, and region.
Market Breakup by Material
- Gas Permeable
- Silicone Hydrogel
- Hybrid
Market Breakup by Design
- Spherical Lens
- Toric Lens
- Multifocal Lens
- Others
Market Breakup by Application
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
- Lifestyle-Oriented
Market Breakup by Distribution Channel
- Eye Care Professionals
- Retail
- Online
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Contact Lenses Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global contact lenses market. Some of the major players explored in the report by Expert Market Research are as follows:
- Alcon Vision LLC
- Bausch & Lomb, Incorporated
- Johnson & Johnson Vision Care, Inc.
- CooperVision, Inc.
- Essilor International S.A.
- HOYA Vision Care
- Carl Zeiss AG
- Menicon Co., Ltd.
- UltraVision CLPL
- TruForm Optics Inc.
- Valley Contax Inc.
- SynergEyes®, Inc.
- TruForm Optics Inc.
- Art Optical Contact Lens, Inc.
- Others
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