Contact Lenses Market Size to Reach US$ 11.4 Billion at 5.9% CAGR by 2028

IMARC Group's report titled “Contact Lenses Market Report by Material (Gas Permeable, Silicone Hydrogel, Hybrid, and Others), Design (Spherical, Toric, Multifocal, and Others), Usage (Daily Disposable, Disposable, Frequently Replacement, Traditional), Application (Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle-Oriented), Distribution Channel (E-Commerce, Eye Care Practitioners, Retail Stores), and Region 2023-2028“. The global contact lenses market size reached US$ 8.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Contact lenses are thin, clear, and plastic polymer lenses that can be placed on the surface of the eyes to enhance vision. They are manufactured from various materials, such as hydrogel, silicone hydrogel, and hyper gel and immersed in lens solution to maintain the quality and restrict bacterial growth. They can provide a visual aid for farsightedness, nearsightedness, astigmatism, irregular corneal curvature, and age-associated loss of close vision. They are customized according to the size of the eye and the power of the vision of the user. They are also available in various attractive colors, such as hazel, blue, olive green, red, and brown, which are worn as prosthetics to modify the color of the eye and add an aesthetic touch to the overall look of the user. Contact lenses are comfortable to wear and provide a natural vision to the user. They do not glide down, obstruct the vision, or get wet or foggy and reduce image distortions and unnecessary reflections by directly sitting on the cornea. They also assist in reducing eye irritation and infection and enable the user to carry on with their normal daily activities. As contact lenses are affordable, convenient, and help cure eyesight complications effectively, they are prescribed by ophthalmologists and eye surgeons across the globe.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/contact-lenses-market/requestsample

Contact Lenses Market Trends and Drivers:

At present, the increasing demand for contact lenses among the masses due to their convenience and cost-efficiency represents one of the key factors driving the market. Besides this, the rising number of brands selling disposable contact lenses manufactured from eye-safe material is propelling the growth of the market. In addition, the increasing utilization of smart devices is affecting the eyesight of individuals around the world, which is contributing to the growth of the market. Apart from this, the rising incidence of eyesight complications, along with the growing elderly population worldwide, is positively influencing the market. In addition, there is a rise in the employment of contact lenses for cosmetic purposes and to complement different makeup looks. This, coupled with the increasing variety of colors in contact lenses, is strengthening the growth of the market. Moreover, the rising awareness about vision correction, along with advancements made in eyecare diagnosis, is offering a favorable market outlook. Furthermore, key players operating in the industry are investing in research and development (R&D) activities to enhance the quality of contact lenses, which is projected to bolster the growth of the market.

Contact Lenses Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Alton Vision LLC
• Bausch & Lomb Incorporated
• Carl Zeiss AG
• Contamac Holdings Limited
• EssilorLuxottica SA
• Hoya Corporation
• Johnson & Johnson Services, Inc.
• Menicon Co. Limited
• SEED Co. Limited
• SynergEyes Inc.
• Cooper Companies Inc.

The report has segmented the market into the following categories:

Breakup by Material:

• Gas Permeable
• Silicone Hydrogel
• Hybrid
• Others

Breakup by Design:

• Spherical
• Toric
• Multifocal
• Others

Breakup by Usage:

• Daily Disposable
• Disposable
• Frequently Replacement
• Traditional

Breakup by Application:

• Corrective
• Therapeutic
• Cosmetic
• Prosthetic
• Lifestyle-oriented

Breakup by Distribution Channel:

• E-commerce
• Eye Care Practitioners
• Retail Stores

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

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