Contact Lens Market
Astigmatism, presbyopia, and myopia hypermetropia / hyperopia are all examples of refractive defects that can be treated with a corrective lens. The industry is predicted to grow due to an increase in the number of visual errors. In the coming years, rising engagement in outdoor activities is expected to enhance product demand even further. The global contact lens market has seen a tremendous increase in research and development activities in the field of optometry and optics. The burgeoning demand for contact lenses is a result of improvements such as the advent of flexible soft contact lenses with improved technology.
The need to eliminate the usage of spectacles, as well as the growing penetration of Plano sunglasses to improve aesthetic appeal, is likely to propel the global contact lens market forward. In the near future, rising innovations in contact lenses with drug-delivery abilities are anticipated to augment market demand. Increased demand for everyday disposable contact lenses is likely to boost the market's growth prospects. Unexploited, emerging markets are likely to offer growth prospects for contact lens manufacturers in the years to come. On the other hand, a dearth of ophthalmologists as well as regulatory restrictions is projected to stymie market expansion in the near future to some extent.
Cosmetic Contact Lenses: Introduction
- Cosmetic contact lenses are available in many colors in the market. These lenses are designed to intensify or change the eye color.
- Large number of consumers use cosmetic contact lenses during theatrical activity, Halloween, and during other events where colored eyes are required. In most countries, consumers need a valid prescription to purchase cosmetic contact lenses, even if they are buying zero power products.
Key Drivers of the Global Cosmetic Contact Lenses Market
- Increasing adoption of cosmetic lenses coupled with growing fashion trends are majorly driving the growth of the market. Availability of stylish products in local markets with different attractive shades, colors, and textures to enhance eye appearance is working as a favorable factor for the cosmetic contact lenses market.
- High social media penetration coupled with high investment in search engine optimization and social media optimization by key market players are expected to boost the market growth in the coming years.
Availability of Contact Lenses with Multiple Colors to Create Significant Opportunities
- Key companies have started offering multiple colored contact lenses (hazel, blue, violet, green, grey, brown, and amethyst) which attracts more customers to purchase their product. Growth in the eyewear industry is also set to create new opportunities in this market.
Increasing Manufacturing Cost to Hamper the Global Cosmetic Contact Lenses Market
- Change in raw material cost and high manufacturing cost are major challenges in the cosmetic contact lenses market. Excessive risk pertaining to sensitive eye wear products may slow down the market growth.
Europe Accounted for Highest Market Share
- Europe was the market leader in the cosmetic skincare market in 2018. High demand for fashion and apparel in key markets including Germany, France, and the U.K. is propelling the market growth. Cosmetic contact lenses have huge acceptance among movie actors, fashion models, and singers. The millennial population prefers to use this product to enhance their fashion quotient which is expected to augment the growth of the European cosmetic contact lenses market over the forecast period.
- The market in the Asia Pacific is expected to grow at a higher pace in the coming years. Significant adoption of this product in China, India, Taiwan, Japan, and South Korea is driving the market growth.
Key Players Operating in the Global Market
The global cosmetic contact lenses market is fragmented in nature. Large number of small-scale manufacturers are present in this market. Key market participants are signing strategic partnerships and engaging in mergers and acquisitions to consolidate their presence in the global market. Moreover, cosmetic contact lenses companies are investing in infrastructure improvement to compete in the market. Key players operating in the global cosmetic contact lenses market are listed below:
- Johnson & Johnson Vision Care
- CIBA Vision
- Bausch & Lomb
- InnoVision Co Ltd
- Viewell Inc.
- Lagado Corp.
- Metro Optics
- Maxvue Vision
- Jilin Realcon Contact Lens Co. Ltd.
- Beijing Realcon Optical Lens Co. Ltd.
- Guangzhou Winis Import & Export Co. Ltd.
Global Cosmetic Contact Lenses Market, by Product
Global Cosmetic Contact Lenses Market, by Type
- Soft Contact
- Hybrid Contact
Global Cosmetic Contact Lenses Market, by Metal Type
Global Cosmetic Contact Lenses Market, by Distribution Channel
- Optical stores
- Independent brand showrooms
- Online stores
- Retail stores
Global Cosmetic Contact Lenses Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America