Global Contact Lenses Strategic Business Report 2023: Smart Contact Lenses Emerge as Next Stop for Sophisticated Wearable Technology


Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Contact Lenses: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Contact Lenses estimated at US$13.1 Billion in the year 2022, is projected to reach a revised size of US$20.1 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2022-2030.

Silicone Hydrogel, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$14.2 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Other Materials segment is readjusted to a revised 5.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 8.5% CAGR

The Contact Lenses market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.

Select Competitors (Total 94 Featured) -

  • Bausch & Lomb Incorporated
  • BenQ Materials Corp.
  • HOYA Corporation
  • Johnson & Johnson Vision Care, Inc.
  • Menicon Co. Ltd.
  • SEED Co. Ltd.
  • Shanghai Haohai Biological Technology Co., Ltd.
  • SynergEyes Inc.
  • The Cooper Companies Inc.
  • ZEISS International

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages528
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$13.1 Billion
Forecasted Market Value (USD) by 2030$20.1 Billion
Compound Annual Growth Rate5.5%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Impact of COVID-19 on Eye Care Industry
  • YoY Change in New Patient Bookings at Optometrist Offces in the US: 2020 Vs 2019
  • Contact Lens Sales Slow Down Amid the Pandemic
  • US Contact Lens Purchases % Growth: January 2020- Nov 2020
  • Noteworthy Contact Lens Trends to Watch-for amid COVID-19 Pandemic
  • High Uptake among First-Time Wearers
  • High Dropout Rate for Contact Lenses
  • Specialty Lenses Gain Popularity
  • Industry Witnesses Strong Growth in Online Sales of Contact Lenses
  • Virtual Technology for Eye Care Gains Prominence as Telemedicine Picks up
  • Need for Change in In-Office Settings for Optometry & Contact Lens Business in Post-Pandemic Era
  • Influencer Market Insights
  • World Market Trajectories
  • Contact Lenses and Solutions: A Prelude
  • Developed Regions: Prime Revenue Contributors
  • Asia-Pacific & Other Developing Regions Offer Strong Growth
  • Aesthetics and Improving Functionality Steer Growth Opportunities
  • Vision Correction Market and Role of Contact Lenses
  • Global Vision Correction Market Breakdown (in %) by Category for 2020E
  • Factors with Major Implications for Contact Lens Market, Going Forwards
  • Telemedicine
  • Myopia Control
  • Influx of New Products
  • Changes in Contact Lens Rule
  • Contact Lenses: Actions Needed to Move Past COVID-19 Challenges
  • Direct Delivery of Contact Lenses to Doorstep
  • Focus on Lens Hygiene & Safety
  • Wearer Base for Contact Lenses
  • Breakdown of Contact Lens Users by Gender: 2020E
  • Global Contact Lens Wearers Mean Age and % Female Population by Country: 2019
  • World Population by Age Group
  • Myopia Control Expands Growth Avenues
  • Children: A Potential Wearer Segment
  • Daily Disposables Gains Adoption
  • Global Soft Lenses Market: Percentage Breakdown of Modality by Region for 2020
  • Rigid Gas Permeables Stay Afloat
  • Soft Contacts Drive Overall Growth
  • Torics Records Strong Growth
  • Multifocals Benefit from Demographic Trends
  • Silicone Hydrogels Continue to Drive Gains
  • Recent Market Activity
  • World Brands
  • Contact Lenses - Global Key Competitors Percentage Market Share in 2021 (E)
  • Competition: A Consolidated Marketplace
  • Leading Contact Lens Providers by Region
  • High Entry Barriers Hamper Entry of New Players
  • Differentiated Products Offer an Edge

2. FOCUS ON SELECT PLAYERS

  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)

3. MARKET TRENDS & DRIVERS

  • As Sustainability Becomes a Global Agenda, Contact Lens Manufacturers Focus on Plastic Free Lenses
  • New Contact Lens Technologies Go Beyond Vision Correction
  • Contact Lenses Enter the Diagnosis Space
  • Johnson & Johnson Vision Develops Contact Lenses to Tackle Eye Allergies
  • Manufacturers Work towards Development of Lenses with Robust Antimicrobial Properties
  • Countering Color Blindness
  • Self powered Lenses for Presbyopia
  • Slower Progression of Myopia
  • High-tech Contact Lenses to Redefine Market Landscape
  • Smart Contact Lenses Emerge as Next Stop for Sophisticated Wearable Technology
  • Potential Applications
  • Lenses to Measure Eyeball Pressure
  • Contact Lenses Worn During Sleep
  • Lenses to Block Harmful UV Ray
  • Telescopic Contact Lenses
  • Advanced Contact Lenses to Monitor Glucose Levels
  • Drug Delivery through Contact Lenses: An Emerging Area of Interest
  • Innovation Trends in Contact Lenses
  • Demand for Multifocal contact lenses on the Rise
  • Online Exams for Vision: A New Route to Widen Reach
  • Contact Lens with Switchable Capability to Address AMD
  • Contact Lenses to Address Concerns over Excess Digital Device Usage
  • Water Gradient Contact Lenses: A Novel Development
  • Addressing the Contact Lens Discomfort
  • Scleral GP Lenses Continue to Draw Opportunities led by Material Design
  • Presbyopes: Another Opportunity Market for Scleral Contact Lenses
  • Craze for Tints Opens New Avenues
  • Manufacturers Gear up to Recycle Contact Lenses
  • Market Restraints
  • Safety of Contact Lenses: A Major Concern
  • Competition on Rise from Advanced Vision Correction Technologies
  • Pure-Play Retailers Challenge Independent Optometry Channels
  • Rise in Online Stores
  • Distribution Dynamics
  • Direct-to Consumer and Subscription Services Gain Traction
  • Diversity in Contact Lens Purchasing Patterns
  • Urbanization: A Megatrend with Significant Implications for Contact Lenses Market
  • Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/y1vddh

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Global Market for Contact Lenses

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