Contact Lenses Market - Global Outlook & Forecast 2022-2027
Description
Contact Lenses Market - Global Outlook & Forecast 2022-2027
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Contact Lenses Market Report
The contact lenses market is growing at a CAGR of 5.97% during the forecast period.
Contact lenses constitute an essential component of the global vision care market. The growing adoption of contact lenses for restoring multiple vision dysfunctions, such as myopia, hyperopia, astigmatism, and presbyopia, will promote the growth of the global contact lenses market. The growing focus on the aesthetic look and the popularity of colored contact lenses in the fashion industry will boost the demand for these vision care products in the global market.
The following factors are likely to contribute to the growth of the contact lenses market-
Contact lenses market is segmented on the basis of-
1. What is the growth rate of global contact lenses market?
2. How much is the global contact lenses market worth?
3. What are the key factors driving the global contact lenses market?
4. What are the major segments in the contact lenses industry?
5. Which type of contact lens is leading the usage segment?
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Contact Lenses Market Report
The contact lenses market is growing at a CAGR of 5.97% during the forecast period.
Contact lenses constitute an essential component of the global vision care market. The growing adoption of contact lenses for restoring multiple vision dysfunctions, such as myopia, hyperopia, astigmatism, and presbyopia, will promote the growth of the global contact lenses market. The growing focus on the aesthetic look and the popularity of colored contact lenses in the fashion industry will boost the demand for these vision care products in the global market.
The following factors are likely to contribute to the growth of the contact lenses market-
- Introduction of Hi-Tech Contact Lenses
- Increasing Usage of Silicone Hydrogel Contact Lenses
- Paradigm Shift Towards Premium Priced and Cosmetic Lenses
- Technological Advancements in the Contact Lenses
- Increasing Product Launches
- Growing Target Population
- Technological advances in the manufacturing process of making the product drive growth in the market. For instance, CooperVision has partnered with the plastic bank to develop a “plastic neutral” contact lens. CooperVision, one of the key players, has taken the step to produce recycled material-based contact lenses in the market.
- There is a growing number of people with visual impairments, which will increase further in the forecast period. The growing target population in the contact lenses market due to myopia, the growing elderly population, and the increasing preference for contact lenses over prescription spectacles will drive the market in the near future.
- In 2020, Alcon boosted its contact lens portfolio in Canada by introducing its new innovative PRECISION1 daily disposable, silicone hydrogel contact lenses.
- In April 2019, Johnson & Johnson Vision Care business segment has launched Acuvue Oasys with transitions. Its unique feature is that it contains transitions light intelligent technology. It is designed to respond quickly and seamlessly to changing light conditions while reducing exposure to bright light inside and out.
Contact lenses market is segmented on the basis of-
- Material
- Application
- Design
- Usage
- Distribution Channel
- Geography
- Silicone hydrogel contact lenses benefit like they can help minimize risk, including red eyes, swollen corneas, and blurred vision. Some of the factors why silicon hydrogel lenses are preferred are extended wear, continuous wear, increased comfort, and performance.
- The changing lifestyle and environmental conditions such as smoking, high exposure to UV rays, pollutants also enhance the number of eye disorders such as refractive error, cataracts, and glaucoma. The increase in the diabetic population also contributes to the rise of eye disorders such as glaucoma, retinopathy, cataracts, temporary blurring of vision. All these factors are expected to boost the demand for corrective contact lenses in the market during the forecast period.
- Silicone Hydrogel
- Hydrogel
- Gp/Rgp
- Others
- Corrective
- Therapeutic
- Cosmetic
- Spherical
- Toric
- Multifocal
- Daily Disposable
- Frequent Replacement
- Retail Stores
- Hospital And Eye Care
- Online Stores
- North America: North America is considered an attractive market for contact lenses due to high healthcare spending in the region. In the US, cosmetic contact lenses usage is also comparatively high. This is due to the increased awareness and importance of aesthetic looks among the US population.
- APAC: In 2021, APAC accounted for more than 30% of the global contact lenses market. It is also the second-largest player in the contact lenses market. Japan accounts for 27% of the share in APAC in the contact lenses market. What’s unique is that it is illegal for eye doctors to sell or distribute contact lenses. So many doctors own and operate contact lens retail stores. Thus doctors play an essential role in influencing the pricing of the products.
- North America
- US
- Canada
- APAC
- Japan
- China
- India
- South Korea
- Australia
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- South Africa
- Saudi Arabia
- UAE
- The key players in the contact lenses market are Johnson & Johnson Vision Care, The Cooper Companies, Alcon, and Bausch & Lomb.
- In 2020, Alcon boosted its contact lens portfolio in Canada by introducing its new innovative PRECISION1 daily disposable, silicone hydrogel contact lenses.
- Johnson & Johnson launched a product called Acuvue. In this, contact lenses will automatically adapt to the availability of light. Brighter the light, the lens will automatically darken to prevent excessive brightness for the user.
- Johnson and Johnson also got approval to release a contact lens infused with an antihistamine to combat eye allergy symptoms such as itchiness.
- Johnson & Johnson Vision Care
- The Cooper Companies
- Alcon
- Bausch & Lomb
- Bescon
- BenQ Materials
- ClearLab
- CAMAX OPTICAL
- Clerio Vision
- Contamac
- Essilor
- Ginko International
- Hoya
- INTEROJO
- Menicon
- Medios
- NeoVision
- Oculus
- Polytouch
- Sensimed
- St. Shine Optical
- Shanghai Weicon Optical
- SEED
- Solótica Indústria e Comércio
- SynergEyes
- UltraVision CLPL
- Visioneering Technologies
- X-Cel Specialty Contacts
- ZEISS
1. What is the growth rate of global contact lenses market?
2. How much is the global contact lenses market worth?
3. What are the key factors driving the global contact lenses market?
4. What are the major segments in the contact lenses industry?
5. Which type of contact lens is leading the usage segment?
Table of Contents
317 Pages
- 1 Research Methodology
- 2 Research Objectives
- 3 Research Process
- 4 Scope & Coverage
- 4.1 Market Definition
- 4.1.1 Inclusions
- 4.1.2 Exclusions
- 4.1.3 Market Estimation Caveats
- 4.2 Base Year
- 4.3 Scope of The Study
- 4.3.1 Market Segmentation by Application
- 4.3.2 Market Segmentation by Material
- 4.3.3 Market Segmentation by Usage
- 4.3.4 Market Segmentation by Design
- 4.3.5 Market Segmentation by Distribution
- 4.3.6 Market Segmentation by Geography
- 5 Report Assumptions & Caveats
- 5.1 Key Caveats
- 5.2 Currency Conversion
- 5.3 Market Derivation
- 6 Market at a Glance
- 7 Introduction
- 7.1 Overview
- 7.2 Impact of Covid-19
- 8 Market Opportunities & Trends
- 8.1 Introduction of Hi-Tech Contact Lenses
- 8.2 Increasing Use of Silicone Hydrogel Contact Lenses
- 8.3 High Consumer Preference for Premium Cosmetic Lenses
- 9 Market Growth Enablers
- 9.1 Technological Advances in Contact Lenses
- 9.2 Increasing Frequency of Product Launches
- 9.3 Expanding Target Population
- 10 Market Restraints
- 10.1 High Cost of Contact Lenses
- 10.2 Adverse Events Associated with Contact Lenses
- 10.3 Low Accessibility, Affordability, & Financial Exclusion for Large Patient Pool
- 11 Market Landscape
- 11.1 Market Overview
- 11.1.1 Historical Data 2018-2020
- 11.2 Market Size & Forecast
- 11.3 Five Forces Analysis
- 11.3.1 Threat of New Entrants
- 11.3.2 Bargaining Power of Suppliers
- 11.3.3 Bargaining Power of Buyers
- 11.3.4 Threat of Substitutes
- 11.3.5 Competitive Rivalry
- 12 Material
- 12.1 Market Snapshot & Growth Engine
- 12.1.1 Market Overview
- 12.2 Silicone Hydrogel Contact Lenses
- 12.2.1 Market Overview
- 12.2.2 Market Size & Forecast
- 12.3 Hydrogel Contact Lenses
- 12.3.1 Market Overview
- 12.3.2 Market Size & Forecast
- 12.4 Gas Permeable /Rigid Gas Permeable Contact Lenses
- 12.4.1 Market Overview
- 12.4.2 Market Size & Forecast
- 12.5 Other Contact Lenses
- 12.5.1 Market Overview
- 12.5.2 Market Size & Forecast
- 13 Application
- 13.1 Market Snapshot & Growth Engine
- 13.1.1 Market Overview
- 13.2 Corrective Contact Lenses
- 13.2.1 Market Overview
- 13.2.2 Market Size & Forecast
- 13.2.3 Corrective Contact Lenses : Geography Segmentation
- 13.3 Therapeutic Contact Lenses
- 13.3.1 Market Overview
- 13.3.2 Market Size & Forecast
- 13.3.3 Therapeutic Contact Lenses: Geography Segmentation
- 13.4 Cosmetic Contact Lenses
- 13.4.1 Market Overview
- 13.4.2 Market Size & Forecast
- 13.4.3 Cosmetic Contact Lenses : Geography Segmentation
- 14 Design
- 14.1 Market Snapshot & Growth Engine
- 14.2 Market Overview
- 14.3 Spherical
- 14.3.1 Market Overview
- 14.3.2 Market Size & Forecast
- 14.3.3 Spherical Contact Lenses: Geography Segmentation
- 14.4 Toric
- 14.4.1 Market Overview
- 14.4.2 Market Size & Forecast
- 14.4.3 Toric Contact Lenses : Geography Segmentation
- 14.5 Multifocal
- 14.5.1 Market Overview
- 14.5.2 Market Size & Forecast
- 14.5.3 Multifocal Contact Lenses : Geography Segmentation
- 15 Usage
- 15.1 Market Snapshot & Growth Engine
- 15.1.1 Market Overview
- 15.2 Daily Disposable
- 15.2.1 Market Overview
- 15.2.2 Market Size & Forecast
- 15.2.3 Daily Disposable Contact Lenses: Geography Segmentation
- 15.3 Frequent Replacement
- 15.3.1 Market Overview
- 15.3.2 Market Size & Forecast
- 15.3.3 Frequent Replacement Contact Lenses : Geography Segmentation
- 16 Distribution Channel
- 16.1 Market Snapshot & Growth Engine
- 16.1.1 Market Overview
- 16.2 Retail Stores
- 16.2.1 Market Overview
- 16.2.2 Market Size & Forecast
- 16.2.3 Retail Stores : Geography Segmentation
- 16.3 Hospital & Eye Clinics
- 16.3.1 Market Overview
- 16.3.2 Market Size & Forecast
- 16.3.3 Hospital & Eye Clinics: Geography Segmentation
- 16.4 Online Stores
- 16.4.1 Market Overview
- 16.4.2 Market Size & Forecast
- 16.4.3 Online Stores Contact Lenses: Geography Segmentation
- 17 Geography
- 17.1 Market Snapshot & Growth Engine
- 17.2 Geographic Overview
- 18 North America
- 18.1 Market Overview
- 18.2 Market Size & Forecast
- 18.3 North America: Application
- 18.4 North America: Design
- 18.5 North America: Usage
- 18.6 North America: Distribution Channel
- 18.7 Key Countries
- 18.7.1 The US: Market Size & Forecast
- 18.7.2 Canada: Market Size & Forecast
- 19 APAC
- 19.1 Market Overview
- 19.2 Market Size & Forecast
- 19.3 APAC: Application
- 19.4 APAC: Design
- 19.5 APAC: Usage
- 19.6 APAC: Distribution Channel
- 19.7 Key Countries
- 19.7.1 Japan: Market Size & Forecast
- 19.7.2 China: Market Size & Forecast
- 19.7.3 India: Market Size & Forecast
- 19.7.4 South Korea: Market Size & Forecast
- 19.7.5 Australia: Market Size & Forecast
- 20 Europe
- 20.1 Market Overview
- 20.2 Market Size & Forecast
- 20.3 Europe: Application
- 20.4 Europe: Design
- 20.5 Europe: Usage
- 20.6 Europe: Distribution Channel
- 20.7 Key Countries
- 20.7.1 Germany: Market Size & Forecast
- 20.7.2 France: Market Size & Forecast
- 20.7.3 The UK: Market Size & Forecast
- 20.7.4 Spain: Market Size & Forecast
- 20.7.5 Italy: Market Size & Forecast
- 21 Latin America
- 21.1 Market Overview
- 21.2 Market Size & Forecast
- 21.3 Latin America: Application
- 21.4 Latin America: Design
- 21.5 Latin America: Usage
- 21.6 Latin America: Distribution Channel
- 21.7 Key Countries
- 21.7.1 Brazil: Market Size & Forecast
- 21.7.2 Mexico: Market Size & Forecast
- 21.7.3 Argentina: Market Size & Forecast
- 22 Middle East & Africa
- 22.1 Market Overview
- 22.2 Market Size & Forecast
- 22.3 Middle East & Africa: Application
- 22.4 Middle East & Africa: Design
- 22.5 Middle East & Africa: Usage
- 22.6 Middle East & Africa: Distribution Channel
- 22.7 Key Countries
- 22.7.1 Turkey: Market Size & Forecast
- 22.7.2 South Africa: Market Size & Forecast
- 22.7.3 Saudi Arabia: Market Size & Forecast
- 22.7.4 The UAE: Market Size & Forecast
- 23 Competitive Landscape
- 23.1 Competition Overview
- 23.2 Market Share Analysis
- 23.2.1 Johnson & Johnson
- 23.2.2 Alcon
- 23.2.3 The Cooper Companies
- 23.2.4 Bausch & Lomb
- 24 Key Company Profiles
- 24.1 JOHNSON & JOHNSON VISION CARE
- 24.1.1 Business Overview
- 24.1.2 Product Offerings
- 24.1.3 Key Strategies
- 24.1.4 Key Strengths
- 24.1.5 Key Opportunities
- 24.2 THE COOPER COMPANIES
- 24.2.1 Business Overview
- 24.2.2 Product Offering
- 24.2.3 Key Strategies
- 24.2.4 Key Opportunities
- 24.2.5 Key Strengths
- 24.3 ALCON
- 24.3.1 Business Overview
- 24.3.2 Product Offerings
- 24.3.3 Key Strategies
- 24.3.4 Key Strengths
- 24.3.5 Key opportunities
- 24.4 BAUSCH & LOMB
- 24.4.1 Business Overview
- 24.4.2 Product Offerings
- 24.4.3 Key Strategies
- 24.4.4 Key Strengths
- 24.4.5 Key opportunities
- 25 Other Prominent Vendors
- 25.1 BESCON
- 25.1.1 Business Overview
- 25.1.2 Product Offerings
- 25.2 BENQ MATERIALS
- 25.2.1 Business Overview
- 25.2.2 Product Offerings
- 25.3 CLEARLAB
- 25.3.1 Business overview
- 25.3.2 Product Offerings
- 25.4 CAMAX OPTICAL
- 25.4.1 Business Overview
- 25.4.2 Product Offerings
- 25.5 CLERIO VISION
- 25.5.1 Business Overview
- 25.5.2 Product Offerings
- 25.6 CONTAMAC
- 25.6.1 Business Overview
- 25.6.2 Product Offerings
- 25.7 ESSILOR
- 25.7.1 Business Overview
- 25.7.2 Product Offerings
- 25.8 GINKO INTERNATIONAL
- 25.8.1 Business Overview
- 25.8.2 Product Offerings
- 25.9 HOYA
- 25.9.1 Business Overview
- 25.9.2 Product Offerings
- 25.10 INTEROJO
- 25.10.1 Business Overview
- 25.10.2 Product Offerings
- 25.11 MENICON
- 25.11.1 Business Overview
- 25.11.2 Product Offerings
- 25.12 MEDIOS
- 25.12.1 Business overview
- 25.12.2 Product Offerings
- 25.13 NEO VISION
- 25.13.1 Business Overview
- 25.13.2 Product Offerings
- 25.14 OCULUS
- 25.14.1 Business Overview
- 25.14.2 Product Offerings
- 25.15 POLYTOUCH
- 25.15.1 Business Overview
- 25.15.2 Product Offerings
- 25.16 SENSIMED
- 25.16.1 Business Overview
- 25.16.2 Product Offerings
- 25.17 ST. SHINE OPTICAL
- 25.17.1 Business Overview
- 25.17.2 Product Offerings
- 25.18 SHANGHAI WEICON OPTICAL
- 25.18.1 Business Overview
- 25.18.2 Product Offerings
- 25.19 SEED
- 25.19.1 Business Overview
- 25.19.2 Product Offerings
- 25.20 SOLÓTICA INDÚSTRIA E COMÉRCIO
- 25.20.1 Business Overview
- 25.20.2 Product Offerings
- 25.21 SYNERGEYES
- 25.21.1 Business Overview
- 25.21.2 Product Offerings
- 25.22 ULTRAVISION CLPL
- 25.22.1 Business Overview
- 25.22.2 Product Offerings
- 25.23 VISIONEERING TECHNOLOGIES
- 25.23.1 Business Overview
- 25.23.2 Product Offerings
- 25.24 X-CEL SPECIALTY CONTACTS
- 25.24.1 Business Overview
- 25.24.2 Product Offerings
- 25.25 ZEISS
- 25.25.1 Business Overview
- 25.25.2 Product Offerings
- 26 Report Summary
- 26.1 Key Takeaways
- 26.2 Strategic Recommendations
- 27 Quantitative Summary
- 27.1 Market by Geography
- 27.2 Market by Material
- 27.3 Market by Application
- 27.4 Market by Design
- 27.5 Market by Distribution
- 27.6 Market by Usage
- 27.7 North America: Market by Application
- 27.8 North America: Market by Design
- 27.9 North America: Market by Distribution
- 27.1 North America: Market by Usage
- 27.11 Europe: Market by Application
- 27.12 Europe: Market by Design
- 27.13 Europe: Market by Distribution
- 27.14 Europe: Market by Usage
- 27.15 APAC: Market by Application
- 27.16 APAC: Market by Design
- 27.17 APAC: Market by Distribution
- 27.18 APAC: Market by Usage
- 27.19 Latin America: Market by Application
- 27.20 Latin America: Market by Design
- 27.21 Latin America: Market by Distribution
- 27.22 Latin America: Market by Usage
- 27.23 Middle East & Africa: Market by Application
- 27.24 Middle East & Africa: Market by Design
- 27.25 Middle East & Africa: Market by Distribution
- 27.26 Middle East & Africa: Market by Usage
- 28 Appendix
- 28.1 Abbreviations
Pricing
Currency Rates
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