Global Disposable Contact Lenses Market - Focused Insights 2024-2029

MARKET INSIGHTS

The global disposable contact lenses market size was valued at USD 7.98 billion in 2023 and is expected to reach USD 13.45 billion by 2029, growing at a CAGR of 9.10% during the forecast period. The market is primarily driven by the increasing prevalence of eye diseases that can be treated with disposable contact lenses, such as myopia, presbyopia, hyperopia, Astigmatism, and dry eye diseases. Furthermore, the rising screen time and growing preference for color cosmetic lenses with beauty and fashion trends boost the market growth. The shift from reusable to disposable contact lenses and the rising craze for contact lenses among young and adults for corrective and therapeutic purposes further deliver lucrative market growth opportunities. Moreover, the growing awareness and acceptance of disposable contact lenses in developing countries will create huge market growth in the coming years.

DISPOSABLE CONTACT LENSES MARKET INSIGHTS

• By Usage Type: The daily disposable or dailies segment holds the largest share of the global disposable contact lenses market as they are thinner and usually more comfortable and breathable. The properties of high oxygen transmission to the eye cornea accelerate its usage. Daily disposable contact lenses are mostly preferred by new users and young consumers, who are major targeted populations for disposable contact lenses. With the evolving beauty and fashion trends worldwide, daily disposable contact lenses are rapidly growing.
• By Material: The silicone hydrogel segment accounted for the largest market share of the global disposable contact lenses market as it is used in daily, weekly, and monthly disposable contact lenses, which helps reduce the tradeoff between oxygen permeability and wettability. The combination of silicone and hydrogel supports increased oxygen permeability with a low volume of water. It has become a major choice among disposable contact lens manufacturers. Silicone hydrogel in disposable contact lenses generally improves comfort and allows longer wear (as per the eye professionals).
• By Application: The cosmetics segment shows the highest growth as the beauty and fashion trends evolve rapidly globally. The growing number of smartphone users, e-commerce channels for shopping experiences, social media, and internet users are widely influenced by disposable color contact lenses. Color disposable contact lenses have become more popular among celebrities, sportspeople, film industry actors/actresses, and social media influencers, helping the segment grow.
• By Design: The spherical segment holds the largest global disposable contact lenses market share due to the increasing number of myopia, presbyopia, and hyperopia patients. Spherical contact lenses provide constant curvature and power across the lens surface, which helps to decrease blurred vision, help to increase and improve depth perception, provide vision care, and enhance contrast sensitivity. Spherical disposable contact lenses help spread light across the lens surface equally, effectively managing vision impairment conditions.
• By Distribution Channel: The online store segment is the fastest-growing distribution channel for contact lenses due to the high acceptance of this distribution channel by the targeted adult population worldwide. According to the Vision Council Report 2022, online sales channels are the fastest-growing distribution channels for contact lenses due to the high acceptance of these distribution channels by the targeted adult population worldwide. Different brands are available in online stores with affordable prices, which widely influences the selection of online stores for contact lenses.

MARKET TRENDS & DRIVERS

Advancements in Disposable Contact Lenses

The disposable contact lens industry is rapidly advancing in terms of technology, materials, and design. The introduction of silicon hydrogel material has significantly transformed the market, while the development of multifocal disposable contact lens designs has also played a key role in driving growth. In recent years, innovations have emerged, presenting additional growth opportunities. Notable developments include drug-eluting disposable contact lenses and smart contact lenses. In 2022, Johnson & Johnson, a leader in vision care, received US FDA approval for its world’s first drug-eluting disposable contact lens, Acuvue Theravision. Additionally, SENSIMED, a manufacturer of disposable contact lenses, introduced the smart Sensimed Triggerfish contact lens.

Beauty & Fashion Trends and Disposable Colour Cosmetic Lens

Globally, the rapidly evolving beauty and fashion trends are attracting a significant number of both young and adult populations. The COVID-19 pandemic also played a role in increasing awareness and knowledge about these trends, creating opportunities for premium-priced and cosmetic contact lenses. Additionally, the growing use of smartphones, social media apps, and the internet has greatly fueled this trend, leading to a rise in demand for color and cosmetic disposable contact lenses. Every country has unique beauty and fashion preferences, with eye appearance being a key factor. As color disposable contact lenses become more widely available, the market has seen substantial revenue growth opportunities in the post-pandemic period.

Increase in Target Patient Population and Number of Eye Diseases

Disposable contact lenses are commonly used to correct near-sightedness, myopia, hyperopia, astigmatism, and presbyopia. Additionally, they are clinically proven to offer UV protection from blue light and help manage certain eye conditions. In 2023, approximately 2.2 billion people globally will experience near or distant vision impairment due to uncorrected refractive errors and cataracts. Over 1 billion cases of vision impairment could have been prevented with proper diagnosis. Moreover, around 130 million cases of unaddressed refractive error, 70 to 100 million cataract cases, and 10 million glaucoma cases highlight the growing demand for eye care solutions. While cataracts, glaucoma, and diabetic retinopathy cannot be directly treated with disposable contact lenses, their use can help mitigate the impact of these conditions and slow their progression toward vision impairment and loss.

INDUSTRY RESTRAINTS

Side Effects Associated with Disposable Contact Lens

Disposable contact lenses have gained widespread use recently, driving market growth. However, complications associated with their use have hindered market expansion. Severe complications include corneal neovascularization, corneal abrasions, and infectious keratitis. Corneal neovascularization occurs when contact lenses reduce the oxygen transmission to the cornea, leading to hypoxia, which can cause swelling and the growth of blood vessels in the cornea. This may lead to vision loss if the blood vessels invade the center of the eye. Corneal abrasion is another significant issue, often caused by poorly fitting lenses, which can result in painful scratches during insertion and removal. Professional consultation may be needed in such cases. Infectious keratitis, also known as corneal ulcer, is the most serious complication seen in contact lens users, representing a severe corneal infection.

GEOGRAPHICAL ANALYSIS

APAC holds the second-largest market share and shows the fastest growth in the global disposable contact lenses market. The rising incidence of myopia, particularly in Asia, is driving a continuous increase in contact lens usage. The growing prevalence of myopia, presbyopia, astigmatism, and related management approaches has boosted interest in various interventions, including contact lenses. In APAC, high-income countries exhibit the highest myopia rates, with projections indicating 66.5% prevalence by 2050, followed by East and Southeast Asian nations, fueling market expansion.

COMPETITIVE LANDSCAPE

The global disposable contact lenses market report features exclusive data on 19 vendors. The market is fragmented, with dominant companies, though new entrants hold notable growth prospects. Despite the market’s dominance by major players, numerous small and investigational firms are emerging with innovative disposable contact lenses and related technologies. Alcon, Bausch + Lomb, Johnson & Johnson, and The Cooper Companies are key players commanding a substantial share of the global market. These vendors are consistently expanding through acquisitions and are anticipated to maintain dominance through ongoing advancements.

RECENT VENDORS ACTIVITIES

• In 2024, one of the leading companies in disposable contact lenses, Bausch & Lomb, introduced INFUSE – for Astigmatism daily disposable contact lenses that help treat astigmatism as well as blurred vision and dryness conditions.
• In 2023, Bausch and Lomb launched a silicon hydrogel-based INFUSE Multifocal disposable contact lens to treat presbyopia and near vision issues. The company features this product with silicon hydrogel, a next-generation material infused with ProBalance technology for all-day comfort, and the company’s 3-Zone Progression Design.
• In 2023, Hubble Contacts, one of the emerging vendors, launched the SkyHy disposable contact lens. This is the company’s first silicon hydrogel-based disposable contact lens, offering high oxygen flow to the eyes and delivering optimal eye health. In addition, this product offers low rigidity and a smart multi-curvature edge that helps to maintain lens stability.