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Contact Lenses Market Size
- Report ID: GMI11598
- Published Date: Sep 2024
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Contact Lenses Market Size in 2023: | USD 19.5 million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.5% |
| 2032 Value Projection: | USD 34.1 million |
| Historical Data for: | 2018 – 2023 |
| No. of Pages: | 161 |
| Tables, Charts & Figures: | 232 |
| Segments covered: | By type, material, design, product, usage, distribution channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Contact Lenses Market Scope
