Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Contact Lenses Market Report by Material, Usage, Design, Application, Distribution Channel, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The publisher predicts that by 2032, the Contact Lens Market will have reached US$ 15.41 billion, valued at US$ 9.67 billion in 2023. The market is expected to grow at a CAGR of 5.31% between 2024 and 2032.
The global contact lenses market is growing due to their increasing adoption and the rising prevalence of refractive errors. Approximately 1.3 billion people globally struggle with vision issues, particularly those over 50. The primary causes of vision problems are uncorrected refractive errors, cataracts, glaucoma, and diabetic retinopathy.
Around 80% of vision problems can be prevented. Glasses and contact lenses are the most commonly used solutions for vision problems. In most cases, patients prefer these options over eye surgery.
The United States Contact Lenses Market
The demand for contact lenses in the US is increasing due to the rising number of people with visual impairments. Contact lenses offer accurate visualization and excellent visual clarity for wearers, making them increasingly popular. A survey by the Contact Lens Institute found that 75% of people who used contact lenses felt natural and comfortable using them. The trend will continue in the coming years, promoting market growth. The US Census Bureau also predicts that people aged 65 plus will reach 98 million by 2060.
China Contact Lenses Market
China's growing market for goods and services is expected to drive growth in the demand for contact lenses due to increased disposable income. Myopia is the most common problem associated with the eyes and is expected to be China's main driver of growth. The senior population, especially in developing nations, is expected to increase, leading to growth in the market during the forecast period. The increased use of smartphones and laptops has led to changes in lifestyle, which will also contribute to the market's growth. Additionally, Menicon Co., Ltd. announced the launch of "ROSE K" in China by its subsidiary, Itabashi Medical (Dalian) Co., Ltd., and the upcoming launch of "Menicon Z Night" orthokeratology lens in China.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $9.67 Billion |
| Forecasted Market Value (USD) by 2032 | $15.41 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenue Analysis
- Bausch & Lomb Incorporated
- Alcon
- Carl Zeiss Meditec AG
- The Cooper Companies, Inc.
- Hoya Corporation
- EssilorLuxottica
- Menicon Co. Ltd
- Seed Co. Ltd.
Market Segmentation
Material - Contact Lenses Market breakup in 3 viewpoints:
- Gas Permeable
- Silicone Hydrogel
- Hybrid
Usage - Contact Lenses Market breakup in 4 viewpoints:
- Daily Disposable
- Disposable
- Frequently Disposable
- Traditional (Reusable) Lenses
- Design - Contact Lenses Market breakup in 3 viewpoints:
- Spherical
- Toric
- Multifocal
- Application - Contact Lenses Market breakup in 2 viewpoints:
- Vision Correction
- Cosmetic
Distribution Channels - Contact Lenses Market breakup in 3 viewpoints:
- Online Pharmacy
- Retail Pharmacy
- Hospital Pharmacy
Country - Contact Lenses Market breakup in 25 viewpoints:
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/vfr7et
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