Global Contact Lenses Market Report 2023: Sector is Expected to Reach $11.6 Billion by 2027 at a CAGR of 7.1% - ResearchAndMarkets.com

This research report analyzes the global contact lens products and technologies market by product type and geographic region, focusing on soft and rigid lenses, the most prevalent types of contact lens products and technologies.

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Wednesday, April 19, 2023
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Health, Optical, Contact, Far-sightedness, Research report, Contact lens, Prevalence, Digital, Acrylate, Sihi, Photorefractive keratectomy, Abbott Laboratories, Lens, Presbyopia, Ageing, PMMA, GP, Bausch Health, PRK, Row, Bausch & Lomb, Comfort, Astigmatism, Novartis, Patient, Near-sightedness, Growth, Johnson & Johnson, CRT, Geography, Camera, Fine chemical, Telescopic sight, LASIK, Alcon
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NORTH AMERICA, EUROPE
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Summary
Key Points: 
  • This research report analyzes the global contact lens products and technologies market by product type and geographic region, focusing on soft and rigid lenses, the most prevalent types of contact lens products and technologies.
  • An in-depth analysis of key companies operating in the global contact lens products and technologies market is also included.
  • The market can be divided broadly into soft lenses, rigid permeable lenses, and other lenses, including surgical, digital, and ocular drug delivery lenses.
  • The global market for GP lenses is primarily influenced by the increased demand for corneal refractive therapy (CRT) and orthokeratology (ortho-k) lenses.


The "Contact Lenses: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.

This research report analyzes the global contact lens products and technologies market by product type and geographic region, focusing on soft and rigid lenses, the most prevalent types of contact lens products and technologies. The report covers both products and technologies affecting specifically the aging demographics.

An in-depth analysis of key companies operating in the global contact lens products and technologies market is also included. The information also focuses on companies involved in developing products and emerging technologies.

The base year for market data is 2021, with historical data provided for 2020 and 2019 and forecast data provided through 2027. Historical, base year and forecast data are provided for each market segment of the report. In terms of geography, the report analyzes the market across North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

Report Includes

  • 22 data tables and 13 additional tables
  • An overview of the global market and technologies for contact lenses
  • Analyses of global market trends, with data from 2020, 2021, 2022, and projections of CAGRs through 2028
  • Coverage of present and future strategies within the contact lens market, which includes soft and rigid gas permeable contact lenses and several other types, which can be separated by design and by their usage
  • In-depth analysis of changing dynamics and adoption trends affecting developing economies concerning market penetration in these areas
  • Detailed analysis of applications, the regulatory environment, market projections and market shares
  • A breakdown of the market and its products by purpose, usability, design, corrective nature, and other characteristics
  • Company profiles of major players within the industry, including Alcon, Bausch + Lomb Inc., Hoya Corp., Johnson & Johnson, and Zeiss Group

Contact lenses are a perfect solution for managing eye defects such as myopia, hyperopia, presbyopia, and astigmatism without compromising comfort and cosmetic appearance. Lenses are made from specially designed biomaterials with a range of properties optimized for a dynamic ocular environment and are effective, safe and comfortable to wear. Significant advancements have taken place over the past several decades, from the earlier polymethyl methacrylate (PMMA) lenses to gas permeable (GP) lenses and later to soft traditional hydrogel and silicone hydrogel (SiHy) lenses. The market can be divided broadly into soft lenses, rigid permeable lenses, and other lenses, including surgical, digital, and ocular drug delivery lenses.

The increasing prevalence of eye disorders such as astigmatism and myopia is a crucial growth factor for the contact lens market. An ageing population, increased affordability, and technological advancements and innovations are other growth factors for the contact lens market. Contact lenses may be used for cosmetic and therapeutic applications, and the growing attention to personal image and fashion among Asian consumers has increased demand in those regions. Cosmetic contact lens manufacturers target teenagers and the younger generation primarily.

Comfort is a crucial requirement for contact lenses for patients, and discomfort is the primary reason for discontinuing their use. Over the past few years, significant developments have occurred in the field of contact lens comfort, and growth in the market can be attributed to these new products that have increased comfort and performance. Innovations include silicone hydrogel materials, toric lenses for astigmatism management and multifocal lenses for near-blurred vision. The advantages offered by daily disposable lenses have also bolstered sales over the period.

The increasing acceptance of photorefractive keratectomy (PRK) and laser-assisted-in-situ keratomileusis (LASIK) surgeries for vision correction threatens the growth of the contact lens market. The lower durability of soft contact lenses made with flexible polymer-plastic materials is also a challenge to the development of this market. (The frequency of replacing contact lenses is based on replacement schedules suggested by the individual manufacturer.)

A small number of players dominate the contact lens market: Bausch + Lomb (a Valeant Pharmaceuticals company), CooperVision Inc. (a subsidiary of Cooper Companies Inc.), Johnson & Johnson Vision Care Inc. (a subsidiary of Johnson & Johnson), Alcon (a Novartis division), and Abbott Medical Optics Inc. (a subsidiary of Abbott Laboratories). Other contributors to this market include ABB Optical Group, Unilens Vision, Contamac, Excel Optics, Eagle Optics, Essilor International SA, Hoya Corp., Hydrogel Vision Corp., SynergEyes Inc., and others.

Soft contact lenses continue to dominate the marketplace, and silicone hydrogel (SiHy) lenses, in particular, are poised to continue their increasing popularity. The global market for GP lenses is primarily influenced by the increased demand for corneal refractive therapy (CRT) and orthokeratology (ortho-k) lenses. The introduction of scleral lenses also helped the GP contact lens market to grow.

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market and Technology Background

Chapter 4 Market Breakdown by Product Type

Chapter 5 Market Breakdown by Usage

Chapter 6 Emerging Technologies

Chapter 7 Evaluation of the Market Based on Geographic Region

Chapter 8 Competitive Analysis

Chapter 9 Patents

Chapter 10 Company Profiles

Chapter 11 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/fd63p5

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