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DOWNLOAD SAMPLE“Navigate the ever-evolving Contact lenses Market with precision and clarity. As the market landscape shifts, crafting robust sales and marketing tactics becomes paramount. Dive deep into competitive analyses and harness crucial insights from micro-market indicators to strategically position yourself for success.”
The global demand for contact lenses is surging, largely influenced by a rising geriatric population, increased awareness among consumers, a high incidence of chronic eye conditions, and greater acceptance of lens wear. In 2023, market shares showed North America leading with 37.22%, followed by APAC at 26.76%, Europe at 23.99%, Latin America at 7.94%, and the Middle East & Africa at 4.09%. The North American market, prominently led by the US, is set to grow to $4.92 billion by 2029, with a CAGR of 5.19%.
Driving this growth are factors such as a large patient demographic with vision disorders, a preference for cosmetic lenses, and a strong presence of market leaders. Notably, the APAC region is expected to experience significant growth, propelled by innovative product development. Europe, Latin America, and other regions are similarly growing due to various reasons, like the expanding aging population and increased instances of optical disorders.
Corrective lenses, tailored to address specific vision defects, are in high demand, given the prevalence of eye disorders. The WHO highlights that at least 2.2 billion people globally suffer from vision impairment. This prevalence has escalated the need for corrective lenses, especially in areas with high vision-related disorders.
Cosmetic lenses, known for enhancing or altering eye color, are gaining traction for both vision correction and aesthetic appeal. Daily disposable contact lenses, preferred for their convenience and reduced infection rates, are a prominent choice among users. However, the higher cost of these lenses compared to monthly options remains a challenge.
With technological advancements, innovative products, and strong healthcare infrastructure, the contact lenses market is poised for further growth. North America, especially, remains an influential player due to high healthcare spending and a well-developed healthcare system. Market competition remains fierce, with giants like Johnson & Johnson Vision, Alcon, and CooperVision leading the way. Collaborations, strategic acquisitions, and increased investments in R&D are key strategies adopted by players to gain a competitive edge in this thriving market.
KEY HIGHLIGHTS:
- The global contact lenses market was valued at $9.77 billion in 2023 and is expected to reach $13.57 billion by 2029, growing at a CAGR of 5.62%.
- The demand for contact lenses is rising due to multiple factors, including the increasing geriatric population, growing consumer awareness regarding contact lens usage, the high prevalence of chronic eye diseases, and increasing adoption of contact lenses.
- In 2023, North America accounted for a significant revenue share of 37.22%. It was the largest market, followed by APAC (26.76%), Europe (23.99%), Latin America (7.94%), and then the Middle East and Africa (4.09%) in the global contact lenses market.
- In 2023, the APAC contact lenses market was valued at $2.61 billion, expected to grow at a CAGR of 6.66% to reach $3.84 billion by 2029. The increasing focus on developing new products is driving the APAC market.
- By Design type segmentation, the spherical contact lenses segment accounted for the highest share of 67.11% in 2023 and is projected to grow at the CAGR of 5.11% during the forecast period. Factors such as technical developments and exact fittings of spherical lenses propel the segment's growth.
- By Application segmentation, the corrective contact lenses segment accounted for the highest share of 59.25% in 2023 and is projected to grow at the CAGR of 5.82% during the forecast period. This dominance can be attributed to the rise in the geriatric population, increasing prevalence of chronic eye disorders, and rising awareness of contact lenses.
- By Distribution, the retail stores segment accounted for the highest share of 64.38% in 2023 and is projected to grow at a CAGR of 5.72% during the forecast period. The dominance is due to the initiative of manufacturers to launch advanced products at affordable prices at retail stores. This has increased the penetration of retail stores in the market.
- Johnson & Johnson Vision, Alcon Inc, CooperVision, HOYA Corp, Bausch+Lomb, and EssilorLuxottica are some leading players currently dominating the global contact lenses market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the contact lenses market and access commercially launched products.
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Summary
REPORT HIGHLIGHTS
PRODUCT SEGMENTATION AND FORECAST
- Application
- Corrective
- Therapeutic
- Cosmetic
- Design
- Spherical
- Toric
- Multifocal
- Usage
- Daily Disposable
- Frequent Replacement
- Distribution
- Retail Stores
- Hospitals & Eye Clinics
- Online Stores
- Material
- Silicone Hydrogel
- Hydrogel
- Others
- MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Contact Lenses Market
- Key Vendors
- Other Prominent Vendors
- APPENDIX
- Research Methodology
- Abbreviations
- About Arizton
VENDORS LIST
1. Johnson & Johnson Vision
2. CooperVision
3. Alcon Inc
4. Bausch + Lomb
5. HOYA Corp
6. EssilorLuxottica
7. Menicon
8. Carl Zeiss Meditec
9. SynergEyes
10. X-Cel Specialty Contacts
11. ClearLab
12. STAAR Surgical
13. Visioneering Technologies Inc
14. Solotica
15. Sensimed AG
16. Oculus Private Limited
17. NeoVision
18. Interojo
19. Clerio Vision
20. Contamac
21. Maxvue Vision
22. St. Shine Optical
23. BenQ Material
24. Ultravision CLPL
25. Seed Co Ltd
26. Aqualens
27. Feel Good Contacts
28. Bescon
29. CAMAX OPTICAL
30. Medios
31. POLYTOUCH
32. Shanghai Weicon Optical
33. Ginko International
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Table Of Contents
- Executive Summary
- Key Findings
- GLOBAL: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- GLOBAL: Projected Revenue by Application (2023-2029; $Billions)
- Corrective
- Therapeutic
- Cosmetic
- GLOBAL: Projected Revenue by Design (2023-2029; $Billions)
- Spherical
- Toric
- Multifocal
- GLOBAL: Projected Revenue by Usage (2023-2029; $Billions)
- Daily Disposable
- Frequent Replacement
- GLOBAL: Projected Revenue by Distribution Channel (2023-2029; $Billions)
- Retail Stores
- Hospitals & Eye Clinics
- Online stores
- GLOBAL: Projected Revenue by Material (2023-2029; $Billions)
- Silicone Hydrogels
- Hydrogels
- Others
- North America: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- Projected Revenue of Contact Lenses Market in the US
- Projected Revenue of Contact Lenses Market in Canada
- Europe: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- Projected Revenue of Contact Lenses Market in Germany
- Projected Revenue of Contact Lenses Market in France
- Projected Revenue of Contact Lenses Market in the UK
- Projected Revenue of Contact Lenses Market in Spain
- Projected Revenue of Contact Lenses Market in Italy
- APAC: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- Projected Revenue of Contact Lenses Market in Japan
- Projected Revenue of Contact Lenses Market in China
- Projected Revenue of Contact Lenses Market in India
- Latin America: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- Projected Revenue of Contact Lenses Market in Brazil
- Projected Revenue of Contact Lenses Market in Mexico
- Projected Revenue of Contact Lenses Market in Argentina
- Middle East & Africa: Projected Revenue of Contact Lenses Market (2023-2029; $Billions)
- Projected Revenue of Contact Lenses Market in Turkey
- Projected Revenue of Contact Lenses Market in South Africa
- Projected Revenue of Contact Lenses Market in Saudi Arabia
- Contact Lenses Market Opportunities & Trends
- Contact Lenses Market Drivers
- Contact Lenses Market Constraints
- Contact Lenses Market - Competitive Landscape
- Contact Lenses Market – Key Vendor Profiles
- Contact Lenses Market – Other Prominent Vendors
- Contact Lenses Market - Key Strategic Recommendations
- Research Methodology
- Abbreviations
- About Arizton
Exhibit 1: Projected Revenues of Contact Lenses in Global ($ Bn)
Exhibit 2: Projected Revenue of Contact Lenses by Corrective ($ Bn)
Exhibit 3: Projected Revenue of Contact Lenses by Therapeutic ($ Bn)
Exhibit 4: Projected Revenues of Contact Lenses by Cosmetic ($ Bn)
Exhibit 5: Projected Revenues of Contact Lenses by Spherical ($ Bn)
Exhibit 6: Projected Revenues of Contact Lenses by Toric ($ Bn)
Exhibit 7: Projected Revenues of Contact Lenses by Multifocal ($ Bn)
Exhibit 8: Projected Revenues of Contact Lenses by Daily Disposable ($ Bn)
Exhibit 9: Projected Revenues of Contact Lenses by Frequent Replacement ($ Bn)
Exhibit 10: Projected Revenues of Contact Lenses by Retail Stores ($ Bn)
Exhibit 11: Projected Revenues of Contact Lenses by Hospitals ($ Bn)
Exhibit 12: Projected Revenues of Contact Lenses by Online ($ Bn)
Exhibit 13: Projected Revenues of Contact Lenses by Silicone Hydrogels ($ Bn)
Exhibit 14: Projected Revenues of Contact Lenses by Hydrogels ($ Bn)
Exhibit 15: Projected Revenues of Contact Lenses by Others ($ Bn)
Exhibit 16: Projected Revenues of Contact Lenses in North America ($ Bn)
Exhibit 17: Projected Revenues of Contact Lenses in US ($ Bn)
Exhibit 18: Projected Revenues of Contact Lenses in Canada ($ Bn)
Exhibit 19: Projected Revenues of Contact Lenses in Europe ($ Bn)
Exhibit 20: Projected Revenues of Contact Lenses in Germany ($ Bn)
Exhibit 21: Projected Revenues of Contact Lenses in France ($ Bn)
Exhibit 22: Projected Revenues of Contact Lenses in UK ($ Bn)
Exhibit 23: Projected Revenues of Contact Lenses in Italy ($ Bn)
Exhibit 24: Projected Revenues of Contact Lenses in Spain ($ Bn)
Exhibit 25: Projected Revenues of Contact Lenses in APAC ($ Bn)
Exhibit 26: Projected Revenues of Contact Lenses in Japan ($ Bn)
Exhibit 27: Projected Revenues of Contact Lenses in China ($ Bn)
Exhibit 28: Projected Revenues of Contact Lenses in India ($ Bn)
Exhibit 29: Projected Revenues of Contact Lenses in Latin America ($ Bn)
Exhibit 30: Projected Revenues of Contact Lenses in Brazil ($ Bn)
Exhibit 31: Projected Revenues of Contact Lenses in Mexico ($ Bn)
Exhibit 32: Projected Revenues of Contact Lenses in Argentina ($ Bn)
Exhibit 33: Projected Revenues of Contact Lenses in Middle East & Africa ($ Bn)
Exhibit 34: Projected Revenues of Contact Lenses in Turkey ($ Bn)
Exhibit 35: Projected Revenues of Contact Lenses in South Africa ($ Bn)
Exhibit 36: Projected Revenues of Contact Lenses in Saudi Arabia ($ Bn)
Table 1: Key Market Trends in Contact Lenses Market
Table 2: Key Market Enablers in Contact Lenses Market
Table 3: Key Market Constraints in Contact Lenses Market
Table 4: Strategic Recommendations in Contact Lenses Market
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