Contact Lenses Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Contact Lenses Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 10, 2024 /EINPresswire.com/ -- The contact lenses market has experienced significant growth in recent years. It is projected to increase from $8.60 billion in 2023 to $9.15 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.4%. This growth during the historical period can be attributed to the rising prevalence of vision disorders, growing awareness of eye health, an increase in refractive surgeries, the expansion of online retail channels, and the growth of vision care clinics.

What Is The Estimated Market Size Of The Global Contact Lenses Market And Its Annual Growth Rate?
The contact lenses market is anticipated to experience robust growth in the coming years, projected to reach $11.87 billion by 2028 with a compound annual growth rate (CAGR) of 6.7%. This growth during the forecast period can be attributed to the rising prevalence of myopia, an increasing demand for daily disposable lenses, a growing geriatric population, heightened preference for contact lenses, and a rise in cases of refractive errors. Key trends in this period include advancements in technology, disposable lenses, UV protection lenses, smart lens technology, and telemedicine.

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Growth Driver of The Contact Lenses Market
The increase in the prevalence of eye disorders is projected to drive the growth of the contact lens market in the future. An eye disorder refers to a medical condition that impacts the structure or function of the eye, resulting in visual impairment, discomfort, or other ocular symptoms. The rise in eye disorders is attributed to factors such as increased screen time, aging populations, environmental pollution, and lifestyle changes. Contact lenses address eye disorders by offering corrective solutions for refractive errors, enhancing comfort for individuals with dry eyes, managing conditions like keratoconus with specialized lenses, and fulfilling therapeutic needs through protective or bandage lenses.

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Which Market Players Are Driving The Contact Lenses Market Growth?
Key players in the market include Abbott Medical Optics Inc., EssilorLuxottica SA, Alcon Inc., Bausch Health Companies Inc., HOYA Corporation, The Cooper Companies Inc., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., BenQ Materials Corporation, STAAR Surgical Company, Alpha Corporation, SynergEyes Inc., Contamac Ltd., Euclid Systems Corporation, Lenstec Inc., Paragon Vision Sciences, X-Cel Specialty Contacts, Medennium Inc., NEO Vision, Blanchard Contact Lens Inc., Weicon Contact Lens Co. Ltd., Lucid Korea Co. Ltd., Bescon Co. Ltd., Conforma Contact Lens Inc.

What Are The Key Trends That Influence Contact Lenses Market Share Analysis?
Key players in the contact lens market are concentrating on creating innovative products, including multifocal lenses, to meet various vision correction needs and improve the overall user experience. Multifocal lenses are specialized contact lenses that correct vision at multiple distances, catering to presbyopia and other conditions that impact the ability to see clearly at close, intermediate, and far ranges.

How Is The Global Contact Lenses Market Segmented?
1) By Type: Corrective Lens, Therapeutic Lenses, Cosmetic And Lifestyle Oriented Lens
2) By Wear Type: Daily Disposable Lenses, Disposable Lenses (Two Weeks or Sooner), Frequent Replacement Lenses (Monthly or Quarterly), Conventional Lenses
3) By Material: Silicone Hydrogel Soft Contact Lens, Methacrylate Hydrogel Soft Contact Lens, Gas-Permeable Contact Lens, Other Materials
4) By Design: Spherical Lens, Toric Lens, Multifocal Lens, Other Design
5) By Distribution Channel: Ophthalmologists, Retail Stores, Online Stores

Geographical Insights: North America Leading The Contact Lenses Market
North America was the largest region in the contact lenses market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Contact Lenses Market Definition
Contact lenses are thin, curved optical devices that are positioned directly on the surface of the eye to correct vision or offer cosmetic enhancements. They enhance visual acuity by correcting refractive errors like myopia, hyperopia, astigmatism, and presbyopia, and they also serve aesthetic purposes, such as altering eye color or creating specific appearances.

Contact Lenses Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global contact lenses market report covering trends, opportunities, strategies, and more
The Contact Lenses Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on contact lenses market size, contact lenses market drivers and trends, contact lenses market major players and contact lenses market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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