Analyst Viewpoint
Rise in prevalence of visual impairments and surge in geriatric population are expected to propel the contact lens market size during the forecast period. Increase in awareness regarding eye health and changes in lifestyle and fashion trends are also boosting demand for contact lenses. Colored contact lenses are gaining traction among social media influencers.
Innovations in smart contact lens technology are likely to offer lucrative opportunities to vendors in the contact lens business. Vendors are recycling used contact lenses, eye care, and lens care materials to achieve their sustainability targets and cater to environmentally conscious customers.
Contact lenses are ocular prosthetic devices used to correct vision problems caused by refractive errors. They are significantly thin, with the average contact lens center measuring less than 0.1 mm in thickness. Contact lenses are placed directly on the surface of the eyes to correct vision or for cosmetic or therapeutic reasons.
Specialty contact lenses are effective method of vision correction. Fluorosilicone acrylate, Polymethyl Methacrylate (PMMA), hydrogel, and silicone hydrogel are some of the most commonly employed plastics and polymers in the manufacture of contact lenses. Soft contact lenses and gas permeable lenses are the major types of contact lenses available in the market.
Soft lenses are gaining traction in the global contact lens industry as they are comfortable to wear and available in many options. Gas permeable lenses, also known as hard contact lenses, are usually made from plastic combined with other materials. These lenses are ideal for people with astigmatism and keratoconus.
Visual impairments can affect people of all ages. These impairments are common in people over the age of 50 years. Presbyopia, glaucoma, dry eyes, age-related macular degeneration, cataracts, and temporal arteritis are some of the most common age-related visual impairments. According to the Centers for Disease Control and Prevention (CDC), 17.2% of people in the U.S. over 40 years of age have a cataract in at least one eye.
Surge in geriatric population is projected to spur the contact lens market growth in the near future. Cataract is a leading cause of visual impairment in the elderly population. In 2020, cataracts, followed by glaucoma, under-corrected refractive error, age-related macular degeneration, and diabetic retinopathy, were the leading causes of blindness worldwide in patients aged 50 years and older.
Various healthcare organizations worldwide are strengthening general awareness about eye care. They are promoting education regarding eye health and various types of vision impairments. These initiatives aid in early detection and timely management of impairments. In September 2023, Eye Health UK, a charity organization, held National Eye Health Week to promote the importance of good eye health and the need for regular eye tests.
Several studies have reported a general lack of awareness and knowledge of common eye diseases in developing countries, which is likely to limit the contact lens market progress during the forecast period. A significant number of people in developing countries often ignore eye-related symptoms, which leads to delayed diagnosis of diseases.
Changes in lifestyle and fashion trends are projected to augment the contact lens market value in the near future. Color contact lenses are gaining popularity among social media influencers. These lenses are also used as a fashion accessory to change the color of the iris.
According to the latest contact lens market forecast, North America is projected to hold largest share from 2023 to 2031. Rise in prevalence of eye-related diseases is fueling the market dynamics of the region. According to the National Eye Institute, 24 million people in the U.S. are affected by cataracts, and around 38.7 million are estimated to be affected by the disease by 2030.
Most contact lens manufacturers are investing significantly to expand their production capabilities. They are also investing in R&D activities to increase their contact lens market share. In October 2023, ZEISS Ventures announced an investment in Vibrosonic, a Germany-based developer of innovative hearing solutions based on its patented hearing contact lens technology.
Johnson & Johnson Vision, Essilor International, Hoya Corporation, Alcon Vision, LLC, STAAR SURGICAL, CooperVision, Inc., ZEISS International, Bausch & Lomb Incorporated, Contamac, X-Cel Specialty Contacts, Medennium, SynergEyes, SEED Contact Lens (M) Sdn Bhd are key players operating in this market.
Each of these players has been profiled in the contact lens market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 | US$ 7.9 Bn |
| Market Forecast Value in 2031 | US$ 12.6 Bn |
| Growth Rate (CAGR) | 5.5% |
| Forecast Period | 2022-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | It includes segment analysis and regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
The market stood at US$ 8.6 Bn in 2021.
The market is estimated to grow at a CAGR of 5.6% during 2022-2031.
The market is likely to reach US$ 14.5 Bn by 2031.
Soft lenses are expected to grow at the highest rate during the forecast period.
The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Rise in elderly population across the globe is a key driver for the market.
Johnson & Johnson Vision Care, Bausch + Lomb Incorporated, Essilor, Alcon (Division of Novartis AG), Hoya Vision Care, Cooper Vision, Inc., ZEISS International, Menicon Co. Ltd, SEED Co. Ltd, and Benqmaterials Corporation
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Contact Lens Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Contact Lens Market Analysis and Forecast, 2023-2031
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global Contact Lens Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Product, 2023-2031
6.3.1. Soft Lenses
6.3.2. Gas Permeable Lenses
6.4. Market Attractiveness Analysis, by Product
7. Global Contact Lens Market Analysis and Forecast, by Technology
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by Technology, 2023-2031
7.3.1. Spin Casting
7.3.2. Cast Molding
7.3.3. Lathe Cutting
7.4. Market Attractiveness Analysis, by Technology
8. Global Contact Lens Market Analysis and Forecast, by Design
8.1. Introduction & Definition
8.2. Key Findings/Developments
8.3. Market Value Forecast, by Design, 2023-2031
8.3.1. Spherical
8.3.2. Toric
8.3.3. Multifocal
8.3.4. Others
8.4. Market Attractiveness Analysis, by Design
9. Global Contact Lens Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Market Value Forecast, by Region, 2023-2031
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Market Attractiveness Analysis, by Region
10. North America Contact Lens Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product, 2023-2031
10.2.1. Soft Lenses
10.2.2. Gas Permeable Lenses
10.3. Market Value Forecast, by Technology, 2023-2031
10.3.1. Spin Casting
10.3.2. Cast Molding
10.3.3. Lathe Cutting
10.4. Market Value Forecast, by Design, 2023-2031
10.4.1. Spherical
10.4.2. Toric
10.4.3. Multifocal
10.4.4. Others
10.5. Market Value Forecast, by Country, 2023-2031
10.5.1. U.S.
10.5.2. Canada
10.6. Market Attractiveness Analysis
10.6.1. By Product
10.6.2. By Technology
10.6.3. By Design
10.6.4. By Country
11. Europe Contact Lens Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product, 2023-2031
11.2.1. Soft Lenses
11.2.2. Gas Permeable Lenses
11.3. Market Value Forecast, by Technology, 2023-2031
11.3.1. Spin Casting
11.3.2. Cast Molding
11.3.3. Lathe Cutting
11.4. Market Value Forecast, by Design, 2023-2031
11.4.1. Spherical
11.4.2. Toric
11.4.3. Multifocal
11.4.4. Others
11.5. Market Value Forecast, by Country/Sub-region, 2023-2031
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Italy
11.5.5. Spain
11.5.6. Rest of Europe
11.6. Market Attractiveness Analysis
11.6.1. By Product
11.6.2. By Technology
11.6.3. By Design
11.6.4. By Country/Sub-region
12. Asia Pacific Contact Lens Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Product, 2023-2031
12.2.1. Soft Lenses
12.2.2. Gas Permeable Lenses
12.3. Market Value Forecast, by Technology, 2023-2031
12.3.1. Spin Casting
12.3.2. Cast Molding
12.3.3. Lathe Cutting
12.4. Market Value Forecast, by Design, 2023-2031
12.4.1. Spherical
12.4.2. Toric
12.4.3. Multifocal
12.4.4. Others
12.5. Market Value Forecast, by Country/Sub-region, 2023-2031
12.5.1. China
12.5.2. Japan
12.5.3. India
12.5.4. Australia & New Zealand
12.5.5. Rest of Asia Pacific
12.6. Market Attractiveness Analysis
12.6.1. By Product
12.6.2. By Technology
12.6.3. By Design
12.6.4. By Country/Sub-region
13. Latin America Contact Lens Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Product, 2023-2031
13.2.1. Soft Lenses
13.2.2. Gas Permeable Lenses
13.3. Market Value Forecast, by Technology, 2023-2031
13.3.1. Spin Casting
13.3.2. Cast Molding
13.3.3. Lathe Cutting
13.4. Market Value Forecast, by Design, 2023-2031
13.4.1. Spherical
13.4.2. Toric
13.4.3. Multifocal
13.4.4. Others
13.5. Market Value Forecast, by Country/Sub-region, 2023-2031
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Market Attractiveness Analysis
13.6.1. By Product
13.6.2. By Technology
13.6.3. By Design
13.6.4. By Country/Sub-region
14. Middle East & Africa Contact Lens Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Market Value Forecast, by Product, 2023-2031
14.2.1. Soft Lenses
14.2.2. Gas Permeable Lenses
14.3. Market Value Forecast, by Technology, 2023-2031
14.3.1. Spin Casting
14.3.2. Cast Molding
14.3.3. Lathe Cutting
14.4. Market Value Forecast, by Design, 2023-2031
14.4.1. Spherical
14.4.2. Toric
14.4.3. Multifocal
14.4.4. Others
14.5. Market Value Forecast, by Country/Sub-region, 2023-2031
14.5.1. GCC Countries
14.5.2. South Africa
14.5.3. Rest of Middle East & Africa
14.6. Market Attractiveness Analysis
14.6.1. By Product
14.6.2. By Technology
14.6.3. By Design
14.6.4. By Country/Sub-region
15. Competition Landscape
15.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
15.2. Market Share Analysis, by Company (2022)
15.3. Company Profiles
15.3.1. Johnson & Johnson Vision
15.3.1.1. Company Overview
15.3.1.2. Product Portfolio
15.3.1.3. SWOT Analysis
15.3.1.4. Financial Overview
15.3.1.5. Strategic Overview
15.3.2. Essilor International
15.3.2.1. Company Overview
15.3.2.2. Product Portfolio
15.3.2.3. SWOT Analysis
15.3.2.4. Financial Overview
15.3.2.5. Strategic Overview
15.3.3. Hoya Corporation
15.3.3.1. Company Overview
15.3.3.2. Product Portfolio
15.3.3.3. SWOT Analysis
15.3.3.4. Financial Overview
15.3.3.5. Strategic Overview
15.3.4. Alcon Vision, LLC
15.3.4.1. Company Overview
15.3.4.2. Product Portfolio
15.3.4.3. SWOT Analysis
15.3.4.4. Financial Overview
15.3.4.5. Strategic Overview
15.3.5. STAAR SURGICAL
15.3.5.1. Company Overview
15.3.5.2. Product Portfolio
15.3.5.3. SWOT Analysis
15.3.5.4. Financial Overview
15.3.5.5. Strategic Overview
15.3.6. CooperVision, Inc.
15.3.6.1. Company Overview
15.3.6.2. Product Portfolio
15.3.6.3. SWOT Analysis
15.3.6.4. Financial Overview
15.3.6.5. Strategic Overview
15.3.7. ZEISS International
15.3.7.1. Company Overview
15.3.7.2. Product Portfolio
15.3.7.3. SWOT Analysis
15.3.7.4. Financial Overview
15.3.7.5. Strategic Overview
15.3.8. Bausch & Lomb Incorporated
15.3.8.1. Company Overview
15.3.8.2. Product Portfolio
15.3.8.3. SWOT Analysis
15.3.8.4. Financial Overview
15.3.8.5. Strategic Overview
15.3.9. Contamac
15.3.9.1. Company Overview
15.3.9.2. Product Portfolio
15.3.9.3. SWOT Analysis
15.3.9.4. Financial Overview
15.3.9.5. Strategic Overview
15.3.10. X-Cel Specialty Contacts
15.3.10.1. Company Overview
15.3.10.2. Product Portfolio
15.3.10.3. SWOT Analysis
15.3.10.4. Financial Overview
15.3.10.5. Strategic Overview
15.3.11. Medennium
15.3.11.1. Company Overview
15.3.11.2. Product Portfolio
15.3.11.3. SWOT Analysis
15.3.11.4. Financial Overview
15.3.11.5. Strategic Overview
15.3.12. SynergEyes
15.3.12.1. Company Overview
15.3.12.2. Product Portfolio
15.3.12.3. SWOT Analysis
15.3.12.4. Financial Overview
15.3.12.5. Strategic Overview
15.3.13. SEED Contact Lens (M) Sdn Bhd
15.3.13.1. Company Overview
15.3.13.2. Product Portfolio
15.3.13.3. SWOT Analysis
15.3.13.4. Financial Overview
15.3.13.5. Strategic Overview
15.3.14. Other Prominent Players
15.3.14.1. Company Overview
15.3.14.2. Product Portfolio
15.3.14.3. SWOT Analysis
15.3.14.4. Financial Overview
15.3.14.5. Strategic Overview
List of Tables
Table 01: Global Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 02: Global Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 03: Global Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
Table 04: Global Contact Lens Market Size (US$ Bn) Forecast, by Region, 2023-2031
Table 05: North America Contact Lens Market Size (US$ Bn) Forecast, by Country, 2023-2031
Table 06: North America Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 07: North America Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 08: North America Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
Table 09: Europe Contact Lens Market Size (US$ Bn) Forecast, by Country/Sub-region, 2023-2031
Table 10: Europe Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 11: Europe Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 12: Europe Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
Table 13: Asia Pacific Contact Lens Market Size (US$ Bn) Forecast, by Country/Sub-region, 2023-2031
Table 14: Asia Pacific Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 15: Asia Pacific Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 16: Asia Pacific Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
Table 17: Latin America Contact Lens Market Size (US$ Bn) Forecast, by Country/Sub-region, 2023-2031
Table 18: Latin America Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 19: Latin America Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 20: Latin America Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
Table 21: Middle East & Africa Contact Lens Market Size (US$ Bn) Forecast, by Country/Sub-region, 2023-2031
Table 22: Middle East & Africa Contact Lens Market Size (US$ Bn) Forecast, by Product, 2023-2031
Table 23: Middle East & Africa Contact Lens Market Size (US$ Bn) Forecast, by Technology, 2023-2031
Table 24: Middle East & Africa Contact Lens Market Size (US$ Bn) Forecast, by Design, 2023-2031
List of Figures
Figure 01: Global Contact Lens Market Size (US$ Bn) and Distribution (%), by Region, 2023 and 2031
Figure 02: Global Contact Lens Market Revenue (US$ Bn), by Product, 2022
Figure 03: Global Contact Lens Market Value Share, by Product, 2022
Figure 04: Global Contact Lens Market Revenue (US$ Bn), by Technology, 2022
Figure 05: Global Contact Lens Market Value Share, by Technology, 2022
Figure 06: Global Contact Lens Market Revenue (US$ Bn), by Design, 2022
Figure 07: Global Contact Lens Market Value Share, by Design, 2022
Figure 08: Global Contact Lens Market Value Share, by Region, 2022
Figure 09: Global Contact Lens Market Value (US$ Bn) Forecast, 2023-2031
Figure 10: Global Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 11: Global Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 12: Global Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 13: Global Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 14: Global Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 15: Global Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
Figure 16: Global Contact Lens Market Value Share Analysis, by Region, 2023 and 2031
Figure 17: Global Contact Lens Market Attractiveness Analysis, by Region, 2022-2031
Figure 18: North America Contact Lens Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2023-2031
Figure 19: North America Contact Lens Market Attractiveness Analysis, by Country, 2023-2031
Figure 20: North America Contact Lens Market Value Share Analysis, by Country, 2023 and 2031
Figure 21: North America Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 22: North America Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 23: North America Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 24: North America Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 25: North America Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 26: North America Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
Figure 27: Europe Contact Lens Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2023-2031
Figure 28: Europe Contact Lens Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 29: Europe Contact Lens Market Value Share Analysis, by Country/Sub-region, 2023 and 2031
Figure 30: Europe Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 31: Europe Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 32: Europe Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 33: Europe Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 34: Europe Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 35: Europe Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
Figure 36: Asia Pacific Contact Lens Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2023-2031
Figure 37: Asia Pacific Contact Lens Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 38: Asia Pacific Contact Lens Market Value Share Analysis, by Country/Sub-region, 2023 and 2031
Figure 39: Asia Pacific Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 40: Asia Pacific Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 41: Asia Pacific Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 42: Asia Pacific Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 43: Asia Pacific Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 44: Asia Pacific Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
Figure 45: Latin America Contact Lens Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2023-2031
Figure 46: Latin America Contact Lens Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 47: Latin America Contact Lens Market Value Share Analysis, by Country/Sub-region, 2023 and 2031
Figure 48: Latin America Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 49: Latin America Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 50: Latin America Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 51: Latin America Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 52: Latin America Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 53: Latin America Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
Figure 54: Middle East & Africa Contact Lens Market Size (US$ Bn) Forecast and Y-o-Y Growth (%), 2023-2031
Figure 55: Middle East & Africa Contact Lens Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 56: Middle East & Africa Contact Lens Market Value Share Analysis, by Country/Sub-region, 2023 and 2031
Figure 57: Middle East & Africa Contact Lens Market Value Share Analysis, by Product, 2023 and 2031
Figure 58: Middle East & Africa Contact Lens Market Value Share Analysis, by Technology, 2023 and 2031
Figure 59: Middle East & Africa Contact Lens Market Value Share Analysis, by Design, 2023 and 2031
Figure 60: Middle East & Africa Contact Lens Market Attractiveness Analysis, by Product, 2022-2031
Figure 61: Middle East & Africa Contact Lens Market Attractiveness Analysis, by Technology, 2022-2031
Figure 62: Middle East & Africa Contact Lens Market Attractiveness Analysis, by Design, 2022-2031
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