BANGALORE, India, April 8, 2021 /PRNewswire/ -- The Contact Lenses Market is Segmented by Type (Rigid Contact Lenses, Hybrid Contact Lenses, Soft Contact Lenses), by Application (Corrective Lenses, Therapeutic Lenses, Cosmetic Lenses and Lifestyle-Oriented Lenses, Others). The report covers global opportunity analysis and industry forecast from 2021 to 2026. It is published on Valuates Reports in the Eyewear Category.
The global Contact Lenses market size is projected to reach USD 12,660 Million by 2026, from USD 9,658.9 Million in 2019, at a CAGR of 4.6% during the forecast period 2021-2026.
Major factors driving the growth of contact lenses market size are:
The growing prevalence of eye disorders such as refractive errors and cataracts.
Growing preference for improving aesthetic appearance among millennials.
One of the major factors driving contact lens demand in the near future is the growing prevalence of presbyopia around the world. Such ocular disorders affect a significant proportion of the global population, which is expected to drive the growth of the contact lenses market size.
Another important factor driving the contact lenses market size is increasing awareness of the therapeutic value of contacts. Contact lenses exert therapeutic benefit by forming a mechanical barrier between the cornea and the external environment, hydrating the corneal epithelium, increasing corneal wound healing, and providing pain relief.
Growing R&D activities in the field of optics and optometry are expected to fuel the contact lenses market size. The demand for contact lenses has risen as a result of advancements such as the introduction of dynamic soft contact lenses with advanced technology.
Increased demand for regular disposable contact lenses is expected to boost the market's growth prospects. Daily disposable silicone hydrogel contact lenses are gaining popularity, particularly among teenagers and young adults.
The corrective lenses segment is expected to be one of the most lucrative during the forecast period based on application. Corrective lenses are used to correct refractive errors such as myopia, astigmatism, presbyopia, and hypermetropia, as well as to enhance vision.
Based on materials, the hybrid Contact lens segment is expected to be one of the most lucrative during the forecast period. A hybrid contact lens combines gas permeable and silicone hydrogel technology. It consists of an RGP central zone surrounded by a soft or silicone hydrogel material peripheral skirt. It combines the softness of a soft lens with the visual clarity of an RGP lens.
Based on the region, the USA is the largest supplier of Contact Lenses, with a production market share of nearly 56% and sales market share of nearly 33%. That is to say, there are a large number of exports in the USA, while the USA also is the largest consumption region. The U.S. has a high penetration of the product due to significantly high demand from sectors such as media and entertainment.
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- In 2020, the global Smart Contact Lenses market size was USD 311 Million and is forecast to USD 1130.6 million in 2027, growing at a CAGR of 24.0% during the 2021-2027
- Disposable Contact Lenses Market Report contains segmentation by Type ( Daily Disposable Contact Lenses, Weekly Disposable Contact Lenses, Monthly Disposable Contact Lense), by Application (Corrective Lenses, Therapeutic Lenses, Cosmetic Lenses and Lifestyle-Oriented Lenses) and Regional Opportunity Analysis and Industry Forecast.
In the US market, Disposable contact lenses mainly come from the four major manufacturers. Johnson & Johnson Vision Care, Novartis, Cooper Vision and Bausch + Lomb Which Johnson are the largest supplier in the market. Occupy 37% of the market.
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- Cosmetic Colored Contact Lenses Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type ( Soft Contact Lenses, Rigid Gas Permeable (RGP) Contact Lenses), by Application (Daily Disposable Colored Contact Lenses, Monthly Colored Contact Lenses, Yearly Colored Contact Lenses, Others) and Regional Opportunity Analysis and Industry Forecast.
- RGP Contact Lenses Market Report contains segmentation by Type ( Replaced Every Six Months, Replaced Every Twelve Months), by Application (Adult, Children) and Regional Opportunity Analysis and Industry Forecast.
- Soft Contact Lenses Market Report contains segmentation by Type ( Spherical, Toric, Multifocal), by Application (Hospital, Clinic, Other) and Regional Opportunity Analysis and Industry Forecast.
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