BUSINESS: Contact Lenses Market, 2026

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

By Daniel Webster, dWeb.News Publisher

DUBLIN, Oct. 13, 2021 /PRNewswire/ — The “Global Contact Lenses Market, By Modality (Reusable, v/s Disposable), By Design (Spherical, Toric, Multifocal & Others), By Material Type (Silicon Hydrogel, Hydrogel, Others), By Application, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.

The Global Contact Lenses Market stood at USD13. 73 billion in 2020 and is further anticipated to grow at a CAGR of 6. 25% through 2026

This growth can be ascribed to increasing geriatric population worldwide suffering from various ocular problems, ocular diseases and increasing incidences of eye injuries. Myopia, hyperopia, cataracts, and astigmatism are some of the most common ocular diseases among elderly people.

Additionally, the disposable income of the global population has led to an increase consumer spending on contact lenses. In the past, only developed countries were spending on contact lenses. But, the trend is changing. The Asia Pacific region and Middle East regions are choosing contact lenses to replace traditional eyeglasses. The market is expected to grow in the coming years, which will create lucrative opportunities.

The Global Contact Lenses Market can also be divided based on design, modality, material type, application channel, region, company, and distribution channel. The Global Contact Lenses Market can also be divided into disposable and reusable. The reusable segment dominated the market in 2020, while the disposable segment is expected to witness significant growth during the forecast period on account of shifting consumer demand from conventional reusable contact lenses to disposable contact lenses.

Additional factors that have increased demand for disposable contacts lenses include the fear of infection and pandemic spreading. Many companies in the market are now offering disposable lenses on a monthly, weekly, and daily basis, which supports the segment’s growth. Based on design, there are three main segments in the Global Contact Lenses Market: spherical (or toric), multifocal (or both). The spherical segment dominated the market in 2020 with a share of around 49.21%. The large adoption of this segment by optometrists, patients, and other professionals for treatment of various ocular conditions such as hypermetropia, myopia, and others, has led to a significant growth in the segment.

The toric segment will experience significant growth over the forecast period due to the associated benefits of toric design, such as greater lens to lens reproducibility and ease of use. Based on the material type, the Global Contact Lenses Market can also be divided into hydrogel, silicone hydrogel and gas permeable.

The silicone hydrogel market is expected to be the largest during the forecast period due to its widespread use in the manufacture of soft contact lenses. Silicone hydrogel, a flexible and soft plastic, provides greater comfort and adaptability for the eye. They allow for a lot of oxygen to pass through which increases comfort and reduces itching. Silicone hydrogel can be used to treat ametropia.

To remain competitive on the market, companies are using strategies like mergers & acquisitions and new product launches to gain an edge over their competitors.

For instance, Bausch Health Companies, Inc. launched Bausch + Lomb Infuse silicone hydrogel (SiHy) daily disposable contact lens. To reduce contact lens dryness and promote eye health, Infuse lenses are made with ProBalance Technology.

Major players operating in the Global Contact Lenses Market include

Johnson & Johnson
CopperVision Inc
Alcon Inc
Bausch Health Companies, Inc.
Menicon Co., Ltd.
EssilorLuxottica S.A.
Carl Zeiss Meditech AG
Hoya Corporation
Seed Co., Ltd.
Contamac Holdings Limited
X-Cel Specialty Contacts
SynergEyes Inc.
STAAR Surgical Company
Cleriovision, Inc.
BenQ Materials Corp

Report Scope:

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026

Global Contact Lenses Market, By Modality:

Reusable
Disposable

Global Contact Lenses Market, By Design:

Spherical
Toric
Multifocal
Others

Global Contact Lenses Market, By Material:

Silicon Hydrogel
Hydrogel
Gas Permeable
Others

Global Contact Lenses Market, By Application:

Corrective
Therapeutic
Cosmetics
Others

Global Contact Lenses Market, By Application

Retail Stores
Hospital & Clinics
Online

Global Contact Lenses Market, By Region:

North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Asia-Pacific
Japan
China
India
South Korea
Australia
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

For more information about this report visit https://www.researchandmarkets.com/r/o1rw0w

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

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SOURCE Research and Markets

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