Contact lens market 2022
The contact lens market is growing at a CAGR of 5.97% during the forecast period. Contact lenses are an essential component of the global eye care market. Growing adoption of contact lenses for restoration of multiple vision dysfunctions such as myopia, hyperopia, astigmatism, and presbyopia will drive the growth of the global market contact lens market. The growing attention to aesthetic appearance and the popularity of colored contact lenses in the fashion industry will drive the demand for these eye care products in the global market.
Technological advancements in the manufacturing process of the product are driving the growth of the market. For example, CooperVision has partnered with the plastic bank to develop a “plastic neutral” contact lens. Cooper Vision, one of the major players, has taken the step to produce contact lenses made from recycled materials in the market.
There is an increasing number of visually impaired people, which will further increase during the forecast period. Growth in the target population in the contact lens market due to myopia, growth in the elderly population, and increasing preference for contact lenses over prescription glasses will drive the market in the near future.
Johnson & Johnson Vision Care
The Cooper Companies
Bausch & Lomb
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The contact lens market is segmented on the basis of:
- Distribution channel
SEGMENTATION OF THE CONTACT LENSES MARKET
- Silicone hydrogel contact lenses benefit as they can help minimize risks, including red eyes, swollen corneas and blurred vision. Some of the factors for which silicone hydrogel lenses are preferred are extended wear, continuous wear, increased comfort, and performance.
- Changing lifestyle and environmental conditions such as smoking, high exposure to UV rays, pollutants are also increasing the number of eye disorders such as refractive error, cataracts and glaucoma. The increase in the diabetic population also contributes to the increase in eye disorders such as glaucoma, retinopathy, cataracts, temporary visual disturbance. All these factors are expected to drive the demand for corrective contact lenses in the market over the forecast period.
Market segmentation by material
- Silicone Hydrogel
- Hydro gel
Market segmentation by application
Market segmentation by design
Market segmentation by use
- Disposable Daily
- Frequent replacement
Market segmentation by distribution channel
- Retail stores
- Hospital and eye care
- Online stores
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