This MRFR report offers a thorough analysis of the global Contact Lenses Market. The primary objective of the report is to analyse the current market landscape and its future potential. All the relevant parameters have been considered for market analysis. The report also includes a discussion on the growth opportunities, drivers and restraints.
Market Highlights
The Global Contact Lenses Market Size is expected to register a CAGR of 5.70% during the forecast period with a market value of USD 12,330.46 Million till 2025.
Contact lenses are plastic-like ocular prosthetic devices positioned on the eyeball for the improvement of vision. It allows a natural field of view, have no frames to obstruct one’s vision, and reduce distortions. Contact lenses are medical devices that the US Food and Drug Administration (FDA) controls and regulates. In addition, it is only possible to purchase cosmetic and prescription contact lenses with a prescription.
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The growing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia presbyopia hyperopia, , and astigmatism is likely to drive the growth of the global contact lenses market during the forecast period.
MRFR recognizes the following companies as the key players in the global contact lenses market—
Novartis AG, Neovision Co, Ltd, Seed Co. Ltd, Hoya Corporation, Oculus Private Limited, Camax Optical Corp., CooperVision, Inc. (The Cooper Companies Inc.), Menicon Co., Ltd, Bausch Health, Johnson & Johnson Services Inc., St. Shine Optical Co., Ltd.
Segment Analysis
The global contact lenses market, by wear type, has been segmented into daily disposable lenses, disposable lenses, frequent replacement lenses, conventional lenses. Based on type, the global contact lenses market has been divided into corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens. The global contact lenses market, by material, has been segmented into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others. The global contact lenses market, by design segments has been classified into spherical lens, toric lens, multifocal lens, others.
Regional Analysis
The global contact lenses market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is likely to hold the largest share of the global contact lenses market. The rising population of people who wear contact lens, increasing prevalence of eye-related diseases, and growing adoption of cosmetic lens among the younger population, and high funding toward R&D in the US and Canada are likely to support the dominance of the Americas during the forecast period.
The Europe market established substantial growth in the market owing to the high adoption of contact lenses and increasing occurrences of age-related eye diseases in countries such as the UK, Germany, France, and Spain.
Asia-Pacific is estimated to be the fastest growing region in the global market due to the increasing prevalence of eye disorders and rising adoption of contact lens among the youth. Additionally, rising investments by major players in the market in Asia-Pacific region is likely to drive the growth of the market.
The contact lenses market in the Middle East & Africa is expected to grow due to the rising awareness about contact lenses coupled increasing collaborations and agreements to commercialize contact lenses products.
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