Global Contact Lenses Market Size study, by Modality, by Material, by Design, by Distribution Channel and Regional Forecasts 2022-2032

Description

Global Contact Lenses Market is valued at approximately USD 10.45 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2024-2032. Contact lenses are medical devices placed on the film of tears that cover the surface of the eye, used to correct refractive errors and for therapeutic purposes. These lenses can be soft or hard, depending on their nature, comfort, and reusability, and are regulated by the U.S. FDA, requiring a prescription. The market growth is driven by the rising geriatric population and the increasing incidence of refractive disorders such as astigmatism, presbyopia, myopia, and hyperopia. As the global population ages, the demand for quality eye care rises, enhancing market growth.

Additionally, heightened awareness about eye health and supportive government initiatives create substantial growth opportunities for the market. For instance, the United Nations General Assembly's "Vision for Everyone" initiative aims to provide eye care to 1.1 billion people with preventable sight loss, addressing the social and economic impacts of vision loss and integrating eye care services into universal healthcare. Moreover, the market is experiencing robust growth due to increasing demand for daily disposable lenses, technological Innovations and new product launches present various lucrative opportunities over the forecast years. However, the COVID-19 pandemic initially hampered market growth due to business shutdowns and the suspension of non-urgent care facilities, including contact lens fittings. Furthermore, a shift towards eyeglasses to reduce infection risk further restricted contact lens adoption during the pandemic. Alternative treatment options for refractive errors, such as laser eye surgery, implantable lenses, and corneal inlays, pose a challenge to market growth.

The key regions considered for the Global Contact Lenses Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Contact Lenses Market in terms of revenue. The market growth in the region is being attributed to factors including awareness regarding vision correction options and the high prevalence of refractive errors. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing vision impairment cases, advanced diagnostic techniques, and rising disposable incomes.

Major market players included in this report are:

Abbott Medical Optics, Inc.
Alcon Vision LLC
Bausch & Lomb, Incorporated
ZEISS International
Contamac
CooperVision, Inc.
Essilor International S.A.
Hoya Corporation
Johnson & Johnson Vision Care, Inc.
Medennium
Seed Co., Ltd.
STAAR Surgical Company
SynergEyes, Inc.
X-Cel Specialty Contacts
Menicon Co., Ltd.

The detailed segments and sub-segment of the market are explained below:

By Modality

Reusable
Disposable

By Material

Soft
Gas Permeable
Others

By Design

Toric
Multifocal
Spherical

By Distribution Channel

Ophthalmologists
Retail Stores
Online Stores

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Contact Lenses Market Executive Summary

1.1. Global Contact Lenses Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Modality
- 1.3.2. By Material
- 1.3.3. By Design
- 1.3.4. By Distribution Channel
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Contact Lenses Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Contact Lenses Market Dynamics

3.1. Market Drivers
- 3.1.1. Growing Geriatric Population
- 3.1.2. Increasing Cases of Refractive Disorders
- 3.1.3. Growing Awareness and Supportive Government Initiatives
3.2. Market Challenges
- 3.2.1. COVID-19 Impact
- 3.2.2. Side Effects and Alternative Treatments
3.3. Market Opportunities
- 3.3.1. Demand for Daily Disposable Lenses
- 3.3.2. Technological Innovations and New Product Launches

Chapter 4. Global Contact Lenses Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Contact Lenses Market Size & Forecasts by Modality 2022-2032

5.1. Segment Dashboard
5.2. Global Contact Lenses Market: Modality Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Reusable
- 5.2.2. Disposable

Chapter 6. Global Contact Lenses Market Size & Forecasts by Material 2022-2032

6.1. Segment Dashboard
6.2. Global Contact Lenses Market: Material Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Soft
- 6.2.2. Gas Permeable
- 6.2.3. Others

Chapter 7. Global Contact Lenses Market Size & Forecasts by Design 2022-2032

7.1. Segment Dashboard
7.2. Global Contact Lenses Market: Design Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Toric
- 7.2.2. Multifocal
- 7.2.3. Spherical

Chapter 8. Global Contact Lenses Market Size & Forecasts by Distribution Channel 2022-2032

8.1. Segment Dashboard
8.2. Global Contact Lenses Market: Distribution Channel Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Ophthalmologists
- 8.2.2. Retail Stores
- 8.2.3. Online Stores

Chapter 9. Global Contact Lenses Market Size & Forecasts by Region 2022-2032

9.1. North America Contact Lenses Market
- 9.1.1. U.S. Contact Lenses Market
  - 9.1.1.1. Modality breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Material breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Design breakdown size & forecasts, 2022-2032
  - 9.1.1.4. Distribution Channel breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Contact Lenses Market
9.2. Europe Contact Lenses Market
- 9.2.1. UK Contact Lenses Market
- 9.2.2. Germany Contact Lenses Market
- 9.2.3. France Contact Lenses Market
- 9.2.4. Spain Contact Lenses Market
- 9.2.5. Italy Contact Lenses Market
- 9.2.6. Rest of Europe Contact Lenses Market
9.3. Asia-Pacific Contact Lenses Market
- 9.3.1. China Contact Lenses Market
- 9.3.2. India Contact Lenses Market
- 9.3.3. Japan Contact Lenses Market
- 9.3.4. Australia Contact Lenses Market
- 9.3.5. South Korea Contact Lenses Market
- 9.3.6. Rest of Asia Pacific Contact Lenses Market
9.4. Latin America Contact Lenses Market
- 9.4.1. Brazil Contact Lenses Market
- 9.4.2. Mexico Contact Lenses Market
- 9.4.3. Rest of Latin America Contact Lenses Market
9.5. Middle East & Africa Contact Lenses Market
- 9.5.1. Saudi Arabia Contact Lenses Market
- 9.5.2. South Africa Contact Lenses Market
- 9.5.3. Rest of Middle East & Africa Contact Lenses Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. Abbott Medical Optics, Inc.
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Alcon Vision LLC
- 10.3.3. Bausch & Lomb, Incorporated
- 10.3.4. ZEISS International
- 10.3.5. Contamac
- 10.3.6. CooperVision, Inc.
- 10.3.7. Essilor International S.A.
- 10.3.8. Hoya Corporation
- 10.3.9. Johnson & Johnson Vision Care, Inc.
- 10.3.10. Medennium
- 10.3.11. Seed Co., Ltd.
- 10.3.12. STAAR Surgical Company
- 10.3.13. SynergEyes, Inc.
- 10.3.14. X-Cel Specialty Contacts
- 10.3.15. Menicon Co., Ltd.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes