The Contact Lenses Market is a dynamic and rapidly evolving sector within the global eyewear industry. Contact lenses are thin, curved lenses that are placed directly on the eye's surface to correct vision problems, providing an alternative to traditional eyeglasses. They have gained significant popularity due to their convenience, comfort, and aesthetic appeal.

 

The report " Global Contact Lenses Market, By Product Type (Soft Contact Lenses, Hybrid Contact Lenses, Rigid Gas Permeable Contact Lenses, and Other Product types), By Usage (Corrective Contact Lenses, Therapeutic Contact Lenses, Cosmetic Contact Lenses, and Prosthetic Contact Lenses), By Modality (Conventional, and Disposable [Daily, Monthly, and Other Disposable Modalities]), By Design (Spherical, Toric, Multifocal, and Other Designs), By Distribution Channel (Spectacle stores, Online Store, and Other Distributions Channels), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”. Global Contact Lenses Market accounted for US$ 11.70 billion in 2020 with a CAGR of 5.7%. 

 

Key Highlights:

 

  • In January 2018, CooperVision launched its MyDay toric daily disposable contact lenses in the US.
  • In December 2017, the company announced the availability of expanded parameters for its Avaira Vitality toric two-week contact lenses.

 

Analyst View:

The Contact Lenses Market is experiencing robust growth driven by factors like technological advancements and changing consumer preferences. Sustainability and regulatory compliance are emerging as crucial considerations. With a global reach and a trend towards online distribution, the Contact Lenses Market offers opportunities for both innovation and market expansion in the coming years. It is essential for industry participants to stay agile and responsive to evolving consumer demands and environmental concerns to maintain a competitive edge in this dynamic sector.

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Key Market Insights from the report:       

 

The Contact Lenses Market accounted for US$ 11.70 billion in 2020 and is projected to register a moderate CAGR of 5.7% over the forecast period. The market report has been segmented based on the property type.

 

  • Based on product type, soft contact lenses segment is dominating the market and rigid gas permeable is expected to exhibit the fastest growth rate over the forecast period.
  • Based on usage, corrective contact lenses are excepted to dominate the market during the forecast period.
  • Based on modality, the global market is segmented into conventional, and disposable. Disposable is further sub-segmented into daily, monthly, and other disposable modalities.
  • Based on the design, the global market is segmented into spherical, toric, multifocal, and other designs.
  • Based on the distribution channel, the global market is segmented into spectacle stores, online store, and other distributions channels.
  • Based on region, North America holds the largest share in the global contact lenses market with the United States being the largest contributor to its revenue. The United States is one of the major countries in the contact lens market, due to the healthcare facilities available in the country and high healthcare conditions.

 

The prominent player operating in the global contact lenses market includes Johnson & Johnson, Alcon, Inc., CooperVision, Inc., and Bausch Lomb, Carl Zeiss Meditech AG, HOYA Corporation, Essilor Group, SEED Co., Ltd., Menicon Co., Ltd., and BenQ Materials Corporation.

 

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