Dublin, March 11, 2025 (GLOBE NEWSWIRE) -- The "Contact Lenses Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The Contact Lenses Market is expected to reach US$ 16.18 billion in 2033 from US$ 10.15 billion in 2024, with a CAGR of 5.32% from 2025 to 2033
The market for contact lenses is expected to rise due in large part to factors such as growing consumer desire for convenience, the prevalence of refractive problems, lens technological developments, increased awareness of eye health, and the growing use of cosmetic lenses.
Growing demand for corrective vision solutions, convenience over spectacles, and growing awareness of eye health are some of the reasons driving the contact lens market. The enormous potential market for contact lens solutions is highlighted by the World Health Organization's October 2022 report, which states that 2.2 billion people worldwide suffer from near or distant vision impairment.
Adoption is further increased by improvements in comfort and oxygen permeability brought about by lens technological advancements like as silicone hydrogel materials. Increased demand is a result of the growing prevalence of refractive defects, especially myopia. Further propelling market expansion are the rising popularity of cosmetic lenses, including colored and trendy lenses, as well as the burgeoning online retail sector.
Growth Drivers for the Contact Lenses Market
Quick Developments in Technology:
The development of contact lenses has been significantly influenced by technological breakthroughs. For example, the creation of silicone hydrogel materials has resulted in lenses that are safer, more comfortable, and more breathable for prolonged use. Additionally, the advent of daily disposable lenses has decreased the risk of infection and simplified lens care procedures.
For instance, in Canada, Alcon introduced Precision, a disposable astigmatic contact lens in April 2022. As part of Alcon's ongoing effort to improve people's eyesight, the daily disposable silicone hydrogel (SiHy) contact lenses are made for astigmatic patients. Another technical advance is smart contact lenses, which are outfitted with sensors and microelectronics. With the ability to track health indicators like intraocular pressure in glaucoma patients or glucose levels in diabetics, these lenses could lead to new medical and consumer uses.
The emergence of the middle class in developing nations
A growing middle class with more disposable money is emerging in developing nations, particularly in Asia-Pacific and Latin America. Changes in lifestyle preferences, such as an increased emphasis in convenience and personal attractiveness, coincide with this socioeconomic transformation. Since contact lenses are regarded as more stylish and less noticeable than eyeglasses, they present an alluring substitute. Demand in these emerging nations is driven by the desire to adopt an active, modern lifestyle and the belief that contact lenses are a sign of sophistication.
Increasing Refractive Error Prevalence to Increase Lens Penetration
All age groups are affected by the common ocular condition known as refractive error, which is regarded as a public health concern. According to a number of studies and WHO publications, refractive errors result in vision loss and visual impairment. Globally, the proportion of people with vision impairment is rising due to an increase in myopia and presbyopia instances, primarily in children and adults.
About 2.2 billion individuals will be nearsighted in 2023, and another 1.0 billion will have severe or average visual impairment or blindness as a result of uncorrected refractive error, according to WHO estimates.
Additionally, the number of people using vision correction, including those who wear lenses, has increased globally as a result of growing efforts by national and regional government agencies as well as major industry participants to raise public knowledge of the benefits of vision correction.The market for contact lenses has grown as a result of these factors.
In 2023, CooperVision reported that there were approximately 45.0 million lens users in the United States alone. Additionally, statistics released by the NCBI indicates that 140.0 million people globally will be wearing glasses in 2023.
Challenges in the Contact Lenses Market
Alternative Refractive Error Treatment Options to Limit Market Expansion
Due to the numerous adverse consequences of long-term lens use, including corneal edema, infection, red eye, superficial keratitis, and others, a growing number of patients are searching for alternate vision correction treatments. Advances in medical science and technology have brought about a number of solutions, including corneal inlays, implanted lenses, and laser eye surgery.
One of the most effective procedures for correcting vision is Lasik surgery. It is a ground-breaking and incredibly successful technique that provides long-term fixes for problems like astigmatism, farsightedness, and nearsightedness. The adoption of contact lenses is thus further restricted by people's shifting inclinations toward these surgeries in order to obtain long-term relief from these issues.
According to a September 2023 article from ZEISS, robotic laser-guided vision correction technology is being used more frequently in India. Because laser surgery is becoming more and more common, the company's MediTech business has installed Small Incision Lenticule Extraction (SMILE) equipment in over 1,500 hospitals and clinics worldwide.
As a result, the existence of multiple substitute options that potentially offer long-term remedies for visual impairment may limit market expansion.
Environmental concerns regarding the disposal of single-use lenses
One major obstacle facing the business is environmental concerns over the disposal of single-use contact lenses. The non-biodegradable materials used to make many disposable lenses add to the amount of plastic waste that ends up in landfills and waterways. Pollution problems are made worse by improper disposal, such as dumping lenses down the toilet. In order to lessen the ecological impact of contact lens waste, the industry is under rising pressure to implement sustainable alternatives, such as biodegradable lenses or recycling programs.
Key Companies: Overview, Key Personnel, Recent Development & Strategies, Product Portfolio, Financial Insights
- Bausch & Lomb Incorporated
- Alcon
- Carl Zeiss Meditec AG
- The Cooper Companies Inc
- Hoya Corporation
- EssilorLuxottica
- Menicon Co. ltd
- Seed Co. Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $10.15 Billion |
| Forecasted Market Value (USD) by 2033 | $16.18 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Contact Lenses Market
6. Market Share Analysis
6.1 By Product
6.2 By Application
6.3 By Technology
6.4 By End User
6.5 By Countries
7. Material
7.1 Gas Permeable
7.2 Silicone Hydrogel
7.3 Hybrid
8. Usage
8.1 Daily Disposable
8.2 Disposable
8.3 Frequently Disposable
8.4 Traditional (Reusable) Lenses
9. Design
9.1 Spherical
9.2 Toric
9.3 Multifocal
10. Application
10.1 Vision Correction
10.2 Cosmetic
11. Distribution Channel
11.1 Online Pharmacy
11.2 Retail Pharmacy
11.3 Hospital Pharmacy
12. Countries
12.1 North America
12.1.1 United States
12.1.2 Canada
12.2 Europe
12.2.1 France
12.2.2 Germany
12.2.3 Italy
12.2.4 Spain
12.2.5 United Kingdom
12.2.6 Belgium
12.2.7 Netherlands
12.2.8 Turkey
12.3 Asia Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 South Korea
12.3.5 Thailand
12.3.6 Malaysia
12.3.7 Indonesia
12.3.8 Australia
12.3.9 New Zealand
12.4 Latin America
12.4.1 Brazil
12.4.2 Mexico
12.4.3 Argentina
12.5 Middle East & Africa
12.5.1 Saudi Arabia
12.5.2 UAE
12.5.3 South Africa
13. Porter's Five Forces Analysis
13.1 Bargaining Power of Buyers
13.2 Bargaining Power of Suppliers
13.3 Degree of Rivalry
13.4 Threat of New Entrants
13.5 Threat of Substitutes
14. SWOT Analysis
14.1 Strength
14.2 Weakness
14.3 Opportunity
14.4 Threat
15. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/9abyn1
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