The Contact Lenses Market research report provides an in-depth industry analysis, including key aspects like industry size, the share of the market, and key players. The report examines also the impact of COVID-19 in different regional areas and offers insights into market segmentation by type and application in the industry. This report is a valuable resource for gaining a deeper understanding of the Market. This report provides valuable insight into the current market situation and its future potential until 2033.
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The Contact Lenses report includes a detailed breakdown of the top competitors in the market. This analysis includes a variety of factors including the strategy of the competitors, the sales unit, the target market, the cost of production and distribution channels, as well as various growth factors. It also covers the standing in the market of the company, its financial status, the size of the organization, its share of the market, and the product line. The report examines COVID-19’s impact on the industry. This research report also provides data on the predicted outcomes up to 2033.
Market Overview
Contact Lenses Market size was valued USD 7.43 billion in 2023 and projected to reach USD 13.55 billion by 2033 at a CAGR of 6.20%
To correct vision, thin lenses are placed over the eye surface. The lenses are available in two types: soft and art. This is based on the comfort level as well as their reusability. The market for contact lenses in developed countries has grown quickly, but the market in developing nations is expected to grow during the forecast period. The market for contact lenses is expected to grow during the forecast period due to the increase in disorders or errors. The demand for contact lenses is expected to grow in the next few years due to refractive error. Around 116 million people in the world suffer from impaired vision caused by refractive errors. The market will grow in the next few years due to increased awareness of contact lenses that are easy to use and can correct vision.
The market for contact lens sales dropped dramatically during the COVID-19 Pandemic due to a growing fear that infections could be transmitted through contact lenses. COVID-19 has caused a drop in revenues for most manufacturers around the world. To prevent the spread of infection, most people who suffer from eye disorders – even refractive errors – have chosen to use eyeglasses instead of contact lenses. The major health organizations suggested the use of glasses instead of contact lenses, as this could have been one of the causes of the COVID-19 virus spreading. The number of visits to eye specialists has decreased due to the tight lockdown and strict policies regarding social distancing. This cancellation had a negative impact on the market. The major impact of this change on the supply chain and logistics led to a shortage of raw materials for manufacturers. The production of contact lenses was greatly reduced. After the pandemic, the production of products stopped. The demand for contact lenses grew again in the market.
Key Benefits
• This report provides an analysis of the strategies used by different companies to gain market share on Contact Lenses
• The report contains a quantitative analysis and estimates of the market, which helps to identify the market opportunities that are currently available.
• This report is a comprehensive study of factors that are driving and limiting the growth of Contact Lenses.
• The corporate sector would benefit from a detailed study of the partnerships, acquisitions, and strategies of key leaders in the market for Contact Lenses.
• Porter’s Five Forces Analysis examines the competitive structures of the Contact Lenses markets and will assist in market strategy decisions.
• A precise analysis of geographical segments helps identify growth opportunities within the Contact Lenses industry
• Strategic assistance for decision-makers by identifying key investment pockets in the Contact Lenses sector
• An analysis of the market potential/attractiveness has been included in this report covering various product segments, therapeutics, devices, and geographic regions along with a detailed analysis of factors responsible for the rapid growth of the market segments
Research Methodology
The study includes current market trends, company shares, projections, and benchmarking. The study also contains a competitive mapping and a detailed review of sustainability strategies and their impact on market expansion and competition. To estimate the quantitative characteristics for the Contact Lenses market, we used top-down as well as bottom-up methods. The market was examined from multiple angles using data triangulation. We use an extensive, iterative research method to ensure that our market projections are as accurate and reliable as possible.
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Report Scope
| Report Attribute | Details |
| Market size value in 2023 | USD 7.43 billion |
| Revenue forecast by 2033 | USD 13.55 billion |
| Growth Rate | CAGR of 6.20% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2033 |
The Contact Lenses market is dominated by the following players:
- Bausch & Lomb
- Alcon Laboratories
- The Cooper Companies
- Johnson & Johnson
- Abbott Medical Optics
- Carl Zeiss AG
- CIBA Vision
- Contamac
- Eagle Optics
- Essilor International SA
- Hoya Corp
- Hydrogel Vision
- Medennium
- STAAR Surgical Company
- SynergEyes
Market Segmentation:
Segmentation by product:
- RPG lens
- Soft lens
- Hybrid lens
Segmentation by design:
- Spherical
- Toric
- Multifocal
Segmentation by usage:
- Corrective
- Therapeutic
- Cosmetic
- Prosthetic
Segmentation by technology:
- Spin casting
- Cast molding
- Lathe cutting
Reason to Buy Contact Lenses Market Report:
• A detailed analysis of the regulatory environment and its impact on the market dynamics.
• A comprehensive assessment of the competitive environment, including the main players and their share of the market.
• A look at the factors that drive demand for Contact Lenses products and applications.
• A detailed analysis of the supply chains, including raw material suppliers and distributors.
• Identification of opportunities for growth and expansion, and recommendations for strategies to enter and expand the market.
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The key questions that are answered by the Contact Lenses Market include:
• What are the current market trends and drivers for the Contact Lenses sector?
• What are the main challenges facing the industry in the forecast period?
• What is the competitive environment of the market?
• Which market segments are expected to grow during the forecast period of time?
• Which regional markets are expected to grow in the Contact Lenses sector?
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