Contact lens market size to reach USD 11.91 billion in 2028


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The Global The contact lens market size is expected to reach USD 11.91 billion in 2028 at a CAGR of 6.2% during the forecast period. The increasing incidence of refractive errors in all age groups, the increase in the geriatric population worldwide and changes in the lifestyle of consumers are some of the key factors for the growth market income. The increasing burden of diabetes and associated complications such as diabetic retinopathy is also supporting the growth of the market today. The growing preference for contact lenses over glasses due to their convenience, comfort and affordability are major factors that are expected to continue to support the market growth in the future. The increased spending capacity and availability of a wide range of products, as well as the growing trend of wearing contact lenses for cosmetic purposes among users are other factors that are expected to drive revenue growth. of the market to a large extent during the forecast period.

Extensive research and development by key companies to develop advanced smart contact lenses to meet the growing demand for high-quality eyewear and sight and vision related products is further fueling the revenue growth of the company. Marlet. Contact lenses help improve the performance of athletes with wear and tear or poor vision during sports activities and provide minimal risk of injury during activities. Contact lenses also provide a wider field view without obstruction compared to that caused by wearing glasses or glasses. This has increased the adoption of contact lenses among athletes, which in turn contributes significantly to the growth of the market. A considerable number of younger people suffer from visual disturbances such as hyperopia and nearsightedness. The growing need to slow the progression of these disorders has stimulated the demand for corrective contact lenses.

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Highlights of the report:

  • The corrective lenses segment accounted for the largest share of the market in terms of revenue in 2020 and is expected to register significant revenue growth during the forecast period. The growth of the segment can be attributed to an increasing prevalence of eye and vision disorders and the rapid increase in the geriatric population around the world.
  • North America accounted for 32.1% of the global market in 2020 and is expected to register a significant revenue CAGR during the forecast period. The key factors driving the growth of the regional market are the increase of R&D in the field of ophthalmology and a strong presence of the major market players in the region.
  • The main companies in the market are Johnson & Johnson, Bausch + Lomb, Alcon, Carl Zeiss Meditec AG, The Cooper Companies, HOYA Corporation, Seed Co., Ltd., EssilorLuxottica (France), BenQ Materials Corporation and Menicon Co., Ltd. .
  • In January 2020, Bosch + Lomb increased its toric contact lens settings, which enabled the company to provide eyecare professionals with the tools and equipment necessary to meet the specific visual needs of their patients.

For the purpose of this report, Emergen Research has segmented the global contact lens market on the basis of usage, design, material, application, market channel, and region:

Usage Outlook (Revenue, USD Billion; 2018-2028)

  • Daily wear
  • Extended wear
  • Traditional glasses

Design Outlook (Revenue, USD Billion; 2018-2028)

  • Monovision
  • Spherical
  • toric
  • Multifocal

Material Outlook (Revenue, USD Billion; 2018-2028)

  • Hybrid
  • Silicone hydrogel
  • Rigid gas permeable
  • PMMA

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Therapeutic
  • Lifestyle oriented
  • Prosthetic
  • Cosmetic
  • Fix

Marketing Channel Outlook (Revenue, USD Billion; 2018-2028)

  • In line
  • Offline
    • Retail stores
    • Branded showrooms

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
  • Europe
    • Russia
    • Germany
    • K.
    • France
    • BLESS
    • Italy
    • Spain
    • Switzerland
    • The rest of europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of the APAC
  • Latin America
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • South Africa
    • Turkey
    • Rest of the MEA

Read the full report description @ https://www.emergenresearch.com/industry-report/contact-lenses-market







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