Contact Lens Market

Contact Lens Market Global Industry Insights,
Trends,
Outlook,
and
Opportunity
Analysis,
2017–2025
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Contact Lens Market Overview:
A contact lens is a medical device used for cosmetic and therapeutic reasons, primarily for vision correction. Contact lens
provides enhanced peripheral vision as it does not accumulate moisture from the atmosphere. The vast variety and
affordability of contact lens make it a common lifestyle product. Contact lens provides high compatibility as it can be worn
along with other eye wear choices such as sunglasses. Lenses offer clear peripheral and all around vision, eliminating
glare. Hence contact lenses are more comfortable than spectacles. Corrective contact lens is widely used as it corrects
refractive errors efficiently, compensates for visual deficiencies, and typically improves conditions such as myopia,
hyperopia, astigmatism, and presbyopia. Owing to the computer controlled, automated production of contact lenses with
the help of cast molding technology, higher accuracy and quality are assured in the final product. Contact lenses are
classified based on their material, wear schedule, and primary function into multifocal contact lens, monovision, and
corrective contact lenses.
Rising incidences of ophthalmic disorders is expected to drive market
According to the National Eye Institute, around 2.9 million Americans had ophthalmic disorders in 2015, which is expected
to increase to 5 million by 2030. In addition to this, technological advancements in contact lens manufacturing, increasing
global population, and desire to make fashion statements are projected to be the major factors driving market growth. With
added advantages such as unique aquaform comfort technology, breathable lens, added hydration, and oxygen
permeability, the global contact lens market is on the surge to rise drastically.
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Integration of digital technology with contact lenses is expected to bolster market growth in Asia
Pacific
Regional segmentation of the contact lens market by Coherent Market Insights comprises North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the U.S. Centers for Disease
Control and Prevention, there were 40.9 million contact lens users in the U.S. in 2016 and the number is
expected to rise drastically, making North America dominant in contact lens market. Also, the high
performance of disposable contact lens segment, rise in number of senior ophthalmological patients, and
ophthalmic issues in young people have led to surge in demand for contact lenses in North America. According
to the World Health Organization, up to 20 million Asians are estimated to get affected by eye-related
disorders such as cataract, myopia, glaucoma, and age related macular degeneration by 2030. However,
growing awareness, safety, and affordability will propel the global contact lenses market growth in Asia Pacific
during the forecast period.
Acuvue lenses are the largest prescribed contact lenses ruling the global contact lens market
Key players operating in the contact lens market are Novartis International AG, Menicon Group, The Cooper
Companies, Inc., Carl Zeiss AG, Baush and Lomb, Air Optix, Essilor, Conforma, Menicon, UltraVision, and
Wesley Jessen. Bioinfinity and Biomedics are two commonly used lenses owing to their superior optic quality.
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CONTACT LENS MARKET - GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2017–2025