Contact Lenses Market - By Type, By Material, By Design, By Product, By Usage, By Distribution Channel, Forecast 2024 -2032

Contact Lenses Market Size

The global contact lenses market size was valued at USD 19.5 million in 2023 and is anticipated to register a CAGR of over 6.5% between 2024 and 2032. Rising eye problems are driving the growth of the market. More young people are getting myopia due to long screen time and less outdoor activity, increasing the need for contact lenses.
 

The American Optometric Association says myopia affects about 30% of the U.S. population, with a big rise among kids and teens. Age-related presbyopia, which makes it hard to see close objects, is boosting the demand for bifocal and multifocal contact lenses. The aging population, more prone to eye diseases, has increased the demand for contact lenses.
 

Additionally, the convenience and comfort offered by contact lenses is further driving the market growth. Contact lenses provide a more natural field of vision compared to glasses, as they move with the eye and eliminate obstructions like frames. They are especially convenient for active lifestyles, offering greater freedom and comfort during sports or outdoor activities. Advances in lens materials and designs have significantly improved comfort, with modern lenses being more breathable and hydrating, reducing irritation and dryness. Additionally, the development of daily disposable lenses adds to convenience by eliminating the need for cleaning and storage, making them an attractive option for many users. These factors make contact lenses a preferred choice for individuals seeking both practical and comfortable vision correction solutions.
 

The market faces strong competition from other vision correction methods, especially laser eye surgery (LASIK). LASIK has become popular as a long-term solution for vision correction, offering the benefit of not needing daily lens wear and maintenance. As LASIK technology improves with better precision, shorter recovery times, and improved results, more people are choosing this permanent option over contact lenses.
 

Contact Lenses Market Trends

Social media influence is driving the growing trend of colored and cosmetic lenses in the market. These lenses let users change or enhance their eye color, allowing them to try different looks without permanent changes. This trend is especially popular among younger people who see colored lenses as fashion accessories, often matching them with their outfits or makeup. The increasing availability of high-quality, comfortable cosmetic lenses in various shades and patterns has made them more appealing and accessible. Celebrities and influencers often wear colored lenses, boosting demand. This trend is expanding the market beyond vision correction into beauty and fashion, creating new growth opportunities for manufacturers.
 

Contact Lenses Market Analysis

Based on type, the market is segmented into rigid gas permeable, soft contact, hybrid contact. The rigid gas permeable segment has emerged as a dominant segment in 2023 generating a revenue of USD 9.8 million and is expected to reach USD 17.5 million by 2032.Rigid gas permeable lenses are known for their superior oxygen permeability, ensure more oxygen reaches the cornea, thereby minimizing the risk of eye health issues such as hypoxia. They provide exceptional visual clarity, especially beneficial for those with astigmatism, keratoconus, or other irregular corneal conditions.
 

Moreover, RGP lenses outlast soft lenses in durability, proving to be a cost-effective choice over time. Their customization options guarantee a precise fit for distinct eye shapes, boosting comfort. Additionally, RGP lenses present a reduced risk of eye infections, being less susceptible to debris and bacteria. Their maintenance is simpler too, they resist absorbing proteins and other deposits, unlike their soft counterparts. These advantages solidify the preference for RGP lenses among users seeking specialized vision correction and emphasizing long-term eye health.
 

Based on material, the contact lenses market is divided into hydrogel and polymers. In 2023 the hydrogel segment is expected to hold a market share of around 71% and is anticipated to grow at a CAGR of 6.7% during the forecasted period. Hydrogel material is preferred due to their high water content, which makes them exceptionally soft and comfortable for wearers. This material allows for better oxygen permeability compared to traditional lenses, reducing the risk of eye dryness and irritation.
 

Additionally, hydrogel lenses are easier to adapt to, making them a popular choice for first-time users and those with sensitive eyes. Their ability to maintain moisture also contributes to prolonged comfort during extended wear, further strengthening their position as a preferred material in the market.
 

In the contact lenses market Asia-Pacific led the market, generating a revenue of around USD 6.1 million in 2023 and is projected to reach USD 11.23 million by 2032. Countries like China and Japan lead the Asia-Pacific region's dominance in the market, driven by several compelling factors. The large populations in these nations generate a robust demand for vision correction products. Moreover, in these markets, contact lenses are not just vision aids but are increasingly perceived as fashion accessories, with trends emphasizing their role in aesthetic enhancement and personal expression. The introduction of advanced technologies, including high oxygen permeability materials and smart contact lenses, propels market growth by enhancing comfort and functionality.
 

North America: The U.S. dominated the contact lenses market with a market share of about 88.71% and is anticipated to grow at a CAGR of 6.9% during the forecasted time period. The dominance is due to the rising awareness of eye health among the citizens which has increased the demand for contact lenses. Additionally North America has also witnessed the highest sales among the other regions, further contributing to its growth in the market.
 

Europe: Germany contact lenses market accounted for a market share of nearby 22.85% in 2023 and is anticipated to grow at CAGR of 7.1% during the forecasted period. According to The Association of Contact Lens Manufacturers (ACLM) the UK market has generated 360 million in 2023 and has accounted for 19% wearers. Germany's advanced healthcare system drives the demand for premium contact lenses. With cutting-edge medical facilities and optical technology, Germany ensures consumers access the latest contact lens innovations. This infrastructure supports high-quality lens availability and promotes regular eye care and advanced treatments. Thus, Germany's healthcare excellence solidifies its leadership in the market.
 

Asia pacific: China accounted for a market share of about 30.71% in 2023 and is anticipated to grow at a CAGR of 7.6% during the forecast period. In China myopia prevalence has significantly increased in recent years, rising over 2.5% from 2019 to 2020. The overall prevalence of myopia was 60%. This is increasing the demand for contact lenses in the region. China has one of the largest populations. With a vast population, there's a strong demand for vision correction solutions, notably contact lenses. Moreover, urban areas, with their dense populations, heighten the demand for accessible and effective eye care products.
 

Contact Lenses Market Share

In 2023, dominant market players, including Alcon Inc, Bausch Health Companies Inc., Novartis AG, Hoya Corporation and Johnson & Johnson Vision Care, Inc. The top companies collectively hold a substantial 30-35% market share. These industry leaders are actively engaged in strategic initiatives such as mergers & acquisitions, facility expansions, and partnerships to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research and development to improve Market and incorporate new technologies, allowing them to stay ahead of the competition.
 

Contact Lenses Market Companies

Major players operating in the market include:

• Alcon Inc.
• Bausch Health Companies Inc.
• Blanchard Contact Lenses, Inc.
• Carl Zeiss Beteiligungs-GmbH
• Conforma Laboratories, Inc.
• Contamac Limited
• Cooper Vision, Inc.
• Essilor Luxottica S.A.
• Hoya Corporation
• Johnson & Johnson Vision Care, Inc.
• Menicon Co., Ltd.
• Novartis AG
• SynergEyes
• Ultra Vision CLPL
   

Contact Lenses Industry News

• In June 2024, HOYA Vision Care unveiled visuReal Move AI, its cutting-edge AI-driven solution designed for Eye Care Professionals (ECPs). This innovative tool streamlines lens centration, making it more precise and efficient. The launch of Move AI follows HOYA's introduction of the visuReal Master AI at Opti 2024, held in January in Munich, Germany.
   
• In June 2024, Alcon unveiled Total30, a comprehensive range of reusable contact lenses. This suite includes sphere, Toric, and multifocal designs, each available with all power parameters from day one. Alcon’s introduction of Total30 comes on the heels of the triumph of Total1, which made its mark as the first and only monthly replacement water gradient contact lens.
   
• In March 2022, Johnson & Johnson Vision Care secured FDA approval for ACUVUE® Thera vision™ with Ketotifen, marking it as the world's first and only drug-eluting contact lens.
   

The contact lenses market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand units) from 2018 to 2032, for the following segments:

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Market, By Type, (USD Million) (Thousand Units)

• Rigid Gas Permeable
• Soft contact
• Hybrid contact

Market, By Material, (USD Million) (Thousand units)

• Hydrogel
  • HEMA hydrogel
  • Silicone hydrogel 
• Polymers
  • Polyvinyl alcohol
  • Rigid gas permeable

Market, By Design, (USD Million) (Thousand units)

• Spherical
• Toric
• Multifocal 
• others (Monovision)

Market, By Product, (USD Million) (Thousand units)

• Corrective
• Therapeutic lenses
• Cosmetic lenses
  • Colored
  • Circle 
• Prosthetic Lenses

Market, By Usage, (USD Million) (Thousand units)

• Daily disposable
• Weekly disposable
• Monthly disposable
• Annual

Market, By Distribution channel (USD Million) (Thousand units)

• Online
  • E commerce
  • Company websites 
• Offline
  • Optical stores
  • Eye care clinics

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa