The global contact lens market size is expected to hit around US$ 16.42 billion by 2033 from valued at US$ 9.99 billion in 2023 and is poised to grow at a CAGR of 5.1% from 2023 to 2033.
Contact lenses are one of the most eminent subsets of the eye care industry. The contact lens market is expanding as a result of the increasing frequency of eye conditions such as refractive errors and cataracts, which may be treated using contact lens solutions to correct vision. During the forecast period, market growth is expected to be fueled by the increase in myopia and astigmatism cases worldwide along with rising contact lens adoption in emerging countries. The expansion of the market is also being bolstered by rising public awareness of the advantages of disposable lenses versus reusable lenses.
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A limited number of significant manufacturers hold the bulk of the market share in the consolidated global contact lens market. The majority of businesses invest a lot in comprehensive research and development, mostly to create products with more cutting-edge technology. The primary approaches used by the market players include global growth, mergers and acquisitions, diversification of product portfolios, and obtaining regulatory permissions from government agencies.
- In July 2022, ReviveTM custom soft contact lenses from Bausch + Lomb have been made available in the United States. These are a new addition to its customizable soft contact lens line and come in spherical, multifocal, toric, and multifocal toric options. They are made to accommodate a wider range of vision requirements of patients, including those with complex or high medicaments.
- In January 2022, DAILIES TOTAL1® for Astigmatism, the first Water Gradient contact lens for astigmatic patients, was released by Alcon, a global leader in eye care committed to helping people to see brilliantly.
- In April 2021, With Menicon, a preeminent producer of advanced lenses, Johnson & Johnson Vision created a global strategic collaboration. The objective of this partnership was to create therapeutic eyewear to halt the spread and development of infantile myopia.
Key Companies Profiled:
- Johnson & Johnson
- Alcon Vision LLC
- Bausch & Lomb
- EISS International (Stiftung)
- CooperVision Inc
- Essilor International S.A
- Hoya Corporation
Key Segments in Contact Lens Market Research
- By Material
- Gas Permeable
- Silicone Hydrogel
- By Design
- By Application
- By Distribution Channel
Key Questions Covered in the Contact Lens Market Report
- What is the projected value of the Contact Lens factors Industry in 2022?
- At what rate will the global Contact Lens factors market size grow until 2033?
- Which are the factors hampering the growth of Contact Lens factors?
- Which region is expected to lead in the global Contact Lens factors market By 2033?
- Which are the factors driving the Contact Lens factors Industry during the forecast period?
- What is the expected market value of the Contact Lens factors market during the forecast period?
Regional Analysis For Contact Lens Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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