Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "US Contact Lenses Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The US contact lenses market is poised for significant growth, projected to reach $4.38 billion in 2028 from $3.18 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 5.5% during the period from 2022 to 2028.
Market Scope
This report presents market size and forecast data specifically for the US contact lenses market. The study encompasses revenue generated from contact lenses sales, while services provided by service providers are excluded. The report offers a comprehensive overview of the current market scenario, including market size, forecast, segmentation, and industry trends.
Market Definition
Contact lenses are thin, curved lenses designed to cover the eye surface and correct vision impairments.
Key Highlights
- The US contact lenses market is anticipated to grow at a CAGR of 5.48% from 2022 to 2028.
- In North America, the US accounted for over 90% of the market share in 2022. This dominance can be attributed to factors such as the increasing geriatric population, heightened consumer awareness regarding contact lens usage, a high prevalence of chronic eye diseases, and rising adoption of contact lenses.
- Corrective lenses constituted the largest share of 59.13% in 2022 and are expected to experience the highest CAGR of 5.56% during the forecast period. The surge in demand for corrective lenses is driven by increasing disease burden, a rise in chronic eye conditions, and a growing geriatric population.
- Spherical contact lenses held the highest share of 68.81% in 2022 and are projected to grow at the highest CAGR of 4.61% during the forecast period. The demand for spherical contact lenses is propelled by factors such as the prevalence of chronic eye conditions, rising preference for contact lenses, and an aging population.
- Leading players in the US contact lenses market include Johnson & Johnson Vision Care, Alcon Inc, The Cooper Companies, HOYA Corp, and EssilorLuxottica SA. These key players focus on strategic acquisitions, collaborations with emerging players, and advancements in medical device cleaning and recycling to enhance their market presence.
Report Highlights
Product Segmentation & Forecast
- Application (Corrective, Therapeutic, Cosmetic)
- Design Type (Spherical, Toric, Multifocal)
- Usage Type (Daily Disposable, Frequent Replacement)
- Distribution Type (Retail Stores, Hospitals & Eye Care Centers, Online)
- Material Type (Silicone Hydrogels, Hydrogels, Others)
Market Structure
- Market Dynamics
- Competitive Landscape of Contact Lenses Market
- Key Vendors
- Other Prominent Vendors
Key Players
- Johnson & Johnson Vision Care
- Alcon Inc
- The Cooper Companies
- HOYA Corp
- Essilor Luxottica SA
- Menicon Co.Ltd.,
- Carl Zeiss Meditec
- SynergEyes
- X-Cel Specialty Contacts
- Medennium
- STAAR Surgical Co.,
- Contamac U.S., Inc
- Visioneering Technologies Inc
- Solotica
- Sensimed AG
- Oculus Private Ltd
- NeoVision
- Interojo
- Clerio Vision
- MaxVue Vision
- ST.Shine Optical Co.,Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.18 Billion |
| Forecasted Market Value (USD) by 2028 | $4.38 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | United States |
For more information about this report visit https://www.researchandmarkets.com/r/5o3e5q
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