Europe Contact Lenses Market - Focused Insights 2023-2028

The Europe contact lenses market was valued at USD 2.23 billion in 2022 and is expected to reach USD 3.03 billion by 2028, growing at a CAGR of 5.26%. The market is expected to grow rapidly from its current value by 2028, with new product approvals, technological advancements, and an increasing target patient population expected every year. Constant development and launch of innovative products are important for vendors operating in a highly competitive European market to achieve healthy sales growth and increase market share.

This Europe contact lenses market report offers market size & forecast data for the contact lenses market in Europe. The revenue generated from the sale of contact lenses is included in the report. The revenue generated from service providers is excluded from the scope of the study. This report provides a comprehensive and current market scenario of the Europe contact lenses market, including the market size, anticipated market forecast, relevant market segmentations, and industry trends. The market study covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

Key Highlights:

• In Global, in 2022, Europe is accounting for a significant market share with more than 22.00%, which can be attributed to the increasing geriatric population, growing consumer awareness regarding contact lens usage, the high prevalence of chronic eye diseases, and the increasing adoption of contact lenses.
• In application type, corrective lenses accounted for the highest share in the Europe contact lenses market, at over 59% in 2022. The increasing demand for corrective lenses is due to the rising disease burden, increasing prevalence of chronic eye diseases, and rising geriatric population.
• The spherical contact lens design segment accounted for the highest share of the Europe contact lenses market. The increasing demand for spherical contact lenses is due to the number of chronic eye conditions, increased preference for contact lenses, and rise in the geriatric population.
• In usage type, the daily disposable contact lenses segment accounted for the highest share of the market. The increasing demand for daily disposable contact lenses is due to the ease of use and reduced infection possibility.
• The retail store's distribution channel segment accounted for the highest share of the Europe contact lenses market. The increasing demand for retail stores is due to affordable prices offered at good discounts.
• Johnson & Johnson Vision Care, Alcon Inc, The Cooper Companies, HOYA Corp, and Essilor International are some leading players currently dominating the Europe contact lenses market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the medical device cleaning & recycling market and to gain access to commercially launched products.