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Contact Lenses Market Business Strategy, Analysis on Competitive landscape and Key Vendors 2027

The global contact lens market is expected to reach USD 11 Bn at a CAGR of 5.70% by the end of the forecast period, projects Market Research Future (MRFR) in a detailed study. The global contact lenses market was valued at USD 7.9 Bn in 2017.

The upsurge in the incidence rate of visual problems and eye disorders are one of the prime reasons stimulating the growth of the global contact lenses market. Visual inaccuracies such as myopia, hyperopia, astigmatism, and presbyopia have become very common, and in all such eyesight issues, spectacles are generally recommended for overcoming them. However, reusable contact lenses have become the choice of most consumers with eyesight problems due to self-consciousness about appearance. This has raised the adoption of contact lenses.

Contact lenses are flexible, move with the eyeball, and allow a natural field of view and reduced distortions. They are ideal for athletes and persons involved in sports activities. Various advancements made in bausch and lomb coloured contact lenses have resulted in the development of improved versions of contact lenses such as multi-focal lenses, toric lenses, and others. Improvements in term of design and functionality have made them more viable which has increased the adoption of contact lenses.

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The global contact lenses market has been segmented based on type, material, and design.

By Type

  • Corrective lenses
  • Therapeutic lenses
  • Cosmetic lifestyle-oriented lenses

By Material

  • Silicone hydrogel soft contact lens
  • Methacrylate hydrogel soft contact lens
  • Gas-permeable contact lens
  • Others

By Design

  • Spherical lens
  • Toric lens
  • Multi-focus lens
  • Others

Competitive Landscape

The notable players in the global contact lenses market include 

  • Neovision Co. Ltd.
  • CooperVision
  • Johnson Johnson
  • Bausch+Lomb
  • St. Shine Optical Co. Ltd.
  • CAMAC Optical Corp.
  • Seed Co. Ltd.
  • Bescon Co. Ltd.
  • Oculus Private Limited
  • Hoya Corporation
  • Clearlab SG PTE Ltd
  • Novartis
  • Menicon Co. Ltd
  • Others

Regional Analysis

By region, the global contact lenses market has been segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East Africa (MEA).

North America accounts for the lion’s share of the global market, driven by the growing incidence of eye disorders in the region. The rise in a number of old and middle age populace who are more susceptible to eye disorders further stimulate the growth of the market. The presence of key players in the region who are engaged in rigorous product development and launches also augment the growth of the market.

Europe is the second largest market for contact lenses which is expected to exhibit healthy growth over the forecast period. High investment in RD activities and new product approvals are initiating growth in the region. Well spread awareness, and key players are focusing on market expansion in the region acts as a plus for the growth of the market.

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APAC is expected to showcase impressive growth over the forecast period. The region has large unmet needs among the massively populated countries in the region which provide ample opportunities for market expansion. To capitalize on the available growth opportunities and the availability of a cheap skilled workforce, lower operating cost and abundance of raw materials, key players are shifting their production base in the region. This has resulted in the availability of cost-competitive varieties of contact lenses which has further intensified the growth of the APAC contact lenses market.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.

Market Research Future (MRFR) team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York, New York 10013,

United States of America

+1 646 845 9312

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on August 12 at 4:15

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