India Contact Lenses Market, By Material Type (Silicone Hydrogel, Hydrogel, Others), By Design Type (Spherical, Toric, Multifocal, Others), By Application (Corrective, Cosmetic, Others), By Wear Type (Monthly Disposable, Daily Disposable, Yearly Disposable), By Distribution Channel (Retail Stores, Online, Hospitals & Clinics), By Region, Competition, Forecast & Opportunities, 2028
India contact lens market was valued at USD574.26 million in 2022, which may grow with a 4.73% CAGR during the forecast period 2023-2028, thus attaining a market value of USD764.77 million by 2028. The market growth may be supported by growing cosmetic lens demand, mainly among the young generation in the country. Prevailing eye conditions, weaker eye sights coupled with growing adoption of contact lenses being preferred over eyeglasses. Rising cases of eye infections caused due to malpractice in the application of eye lenses and poor keeping and maintenance of the contact lenses may hinder the growth of the market.
High prevalence of optical disorders related to eyesight and vision of the patient like hypermetropia, myopia, and astigmatism for the correction of refractive errors also supports the growth of the India contact lens market in the next five years. People of old age over 60+ years tend to have weaker eyesight and may incur higher risks of eye infection and disorders; thus, increasing geriatric population of the country further substantiates the growth of the India contact lens market in the future five years. Aesthetic contact lenses with variant colors, and tints, along with the rising disposable income of the population, are further aiding the growth of the India contact lens market in the forecast years through 2028.
The India contact lens market is segmented by material type, design type, application, wear type, distribution channel, regional distribution, and competitional forecast. Based on material type, the market is segmented into silicone hydrogel, hydrogel, and others. By design, the market is fragmented into spherical, toric, multifocal, and others. Based on application, the market is bifurcated into corrective, cosmetic, and others. By wear type, the market is differentiated into monthly disposable, daily disposable, yearly disposable, Based on distribution channel, the market is also distinguished into retails stores, online and hospitals & clinics. The market is also analyzed among the four regions of the country, North, South, East, and West.
By application, corrective applications of the contact lenses are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing instances of weak eyesight and growing vision disorders among the population. Prolonged exposure to LED screens and excessive use of smartphones, laptops, and television further drives the market's growth. The market growth is also fueled by the geriatric population actively adopting corrective lenses over eyeglasses.
Bausch & Lomb India Private Limited, Alcon Laboratories (India) Pvt. Ltd., Johnson & Johnson Private Limited, CVI Contact Lenses India Pvt. Ltd., Zeiss India are among the major market players in the Indian platform that lead the market growth of the India contact lens market.
Years considered for this report:
Historical Years: 2018- 2021
Base Year: 2022
Estimated Year: 2023E
Forecast Period: 2024F – 2028F
Objective of the Study:
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