Global Contact Lenses Market to Reach $13.57 Billion by 2029, Showing a Steady 5.62% CAGR: Key Insights and Industry Trends

DUBLIN, Oct. 25, 2023 /PRNewswire/ — The “Global Contact Lenses Market – Focused Insights 2024-2029” report has been added to  ResearchAndMarkets.com’s offering.

The global contact lenses market, valued at $9.77 billion in 2023, is projected to grow significantly, reaching $13.57 billion by 2029, with a steady CAGR of 5.62%.

This report provides a comprehensive analysis of the global contact lenses market, including market size, forecasts, segmentations, and key industry trends.

Market Highlights

The demand for contact lenses is experiencing robust growth, driven by factors such as the increasing geriatric population, rising consumer awareness about contact lens usage, a high prevalence of chronic eye diseases, and the growing adoption of contact lenses.

In 2023, North America held the largest market share at 37.22%, followed by APAC (26.76%), Europe (23.99%), Latin America (7.94%), and the Middle East and Africa (4.09%) in the global contact lenses market.

The APAC contact lenses market, valued at $2.61 billion in 2023, is expected to grow at a CAGR of 6.66% to reach $3.84 billion by 2029, driven by a focus on new product development.

Spherical contact lenses accounted for the highest share of 67.11% in 2023 by design type segmentation and are projected to grow at a CAGR of 5.11% during the forecast period due to technical advancements and precise fittings.

The corrective contact lenses segment dominated the market with a share of 59.25% in 2023 by application segmentation and is expected to grow at a CAGR of 5.82%. This is attributed to the increasing geriatric population, rising prevalence of chronic eye disorders, and growing awareness of contact lenses.

Key Players

Leading players in the global contact lenses market include:

Johnson & Johnson VisionCooperVisionAlcon IncBausch + LombHOYA CorpEssilorLuxotticaMeniconCarl Zeiss MeditecSynergEyesX-Cel Specialty ContactsClearLabSTAAR SurgicalVisioneering Technologies IncSoloticaSensimed AGOculus Private LimitedNeoVisionInterojoClerio VisionContamacMaxvue VisionSt. Shine OpticalBenQ MaterialUltravision CLPLSeed Co LtdAqualensFeel Good ContactsBesconCAMAX OPTICALMediosPOLYTOUCHShanghai Weicon OpticalGinko International

Market Segmentation

The market is segmented by application, design, usage, distribution, and material, providing valuable insights into the industry’s dynamics.

Application

CorrectiveTherapeuticCosmetic

Design

SphericalToricMultifocal

Usage

Daily DisposableFrequent Replacement

Distribution

Retail StoresHospitals & Eye ClinicsOnline Stores

Material

Silicone HydrogelHydrogelOthers

Market Structure

The report covers market dynamics, competitive landscape, key vendors, and other prominent vendors in the contact lenses market.

For more information about this report visit https://www.researchandmarkets.com/r/70nxup

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