The global therapeutic contact lenses market accounted for USD 12.62 billion in 2023 and is expected to reach at USD 28.89 billion by 2034 with a CAGR of 7.82% during the forecast period 2024-2034. The market will grow as a result of factors such as the rising incidence of corneal diseases, the aging population, rising awareness and education, technological advancements, a shift toward minimally invasive treatments, and a growing emphasis on eye health and wellness.
Therapeutic lenses are required for conditions such as keratoconus, corneal dystrophies, and corneal traumas. These lenses reduce discomfort and help with vision correction. People are becoming more conscious of the significance of maintaining eye health and wellness and are taking preventative action to keep their eyesight clear and avoid eye disorders. Patients and parents are beginning to favor therapeutic contact lenses for orthokeratology, myopia control, and other preventative uses, propelling the market's expansion. For instance, in October 2023, the FDA approved Alcon Dailies Total30 Myopia Control, a daily disposable lens that is intended to slow down the progression of myopia in youngsters.
By product type, the soft lenses segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption among patients for its comfort, flexibility, and suitability for a wide range of therapeutic applications, including myopia control, dry eye management, and post-surgical care. For instance, in June 2023, Bausch & Lomb introduced Biotrue® Hydration Booster eye drops, which are a supplement to their contact lens line and are intended to relieve symptoms of dry eyes over the long term. The drops are free of preservatives.
By application, the sealing & protection segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to the growing demand for therapeutic bandage lenses and scleral lenses for corneal protection, wound healing, and management of ocular surface disorders such as keratitis and corneal abrasions. For instance, CooperVision and Google announced a partnership in January 2024 to develop smart contact lenses for diabetes monitoring. This relationship indicates an intriguing potential for therapeutic applications in the field of contact lens technology in the future. Additionally, the drug delivery segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for innovative solutions for ocular drug delivery, driving the development of contact lenses embedded with drug-eluting technology for the treatment of various eye conditions such as glaucoma, allergic conjunctivitis, and retinal diseases.
By material type, the balafilcon and lotrafilcon segments accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to their excellent oxygen permeability, durability, and biocompatibility, making them preferred choices for extended wear and therapeutic applications such as myopia control, keratoconus management, and post-surgical care. For instance, in November 2023, Menicon Co., Ltd. received CE Mark approval for Menicon NIGHT SEED®, a non-invasive solution for controlling the growth of childhood myopia. Additionally, the senofilcon segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of its superior comfort, moisture retention, and advanced optical properties, catering to the demands of patients with sensitive eyes and those seeking enhanced vision correction for various ocular conditions.
By distribution channel, the retail pharmacies segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to the growing accessibility and convenience for patients to purchase therapeutic contact lenses over the counter, coupled with expanding retail pharmacy chains and online platforms offering a wide range of contact lens options. For instance, Johnson & Johnson Vision Care introduced Acuvue Oasys with Transitions in February 2023. This new lens builds on the success of their Acuvue Oasys platform and incorporates light-filtering technology to provide all-day comfort and sharper vision in a variety of lighting settings. Additionally, the e-commerce segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of online shopping, convenience, wider product availability, and promotional offers, attracting more consumers to purchase therapeutic contact lenses through e-commerce platforms.
North American region is anticipated to have the highest revenue share during the forecast period owing to the region's advanced healthcare infrastructure, high prevalence of ocular disorders, strong presence of key market players, and increasing adoption of therapeutic contact lenses for various eye conditions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the region's rapidly expanding population, increasing disposable income, improving healthcare infrastructure, rising awareness about eye health, and growing prevalence of ocular disorders, driving the demand for therapeutic contact lenses. For instance, Hoya Corporation focuses on its HOYALUX iD Myopia Control lenses, which was introduced in 2022. These lenses use Defocus Incorporated Multiple Segments (DIMS) technology, which may be able to slow down the progression of myopia in young people.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Therapeutic lenses are required for conditions such as keratoconus, corneal dystrophies, and corneal traumas. These lenses reduce discomfort and help with vision correction. People are becoming more conscious of the significance of maintaining eye health and wellness and are taking preventative action to keep their eyesight clear and avoid eye disorders. Patients and parents are beginning to favor therapeutic contact lenses for orthokeratology, myopia control, and other preventative uses, propelling the market's expansion. For instance, in October 2023, the FDA approved Alcon Dailies Total30 Myopia Control, a daily disposable lens that is intended to slow down the progression of myopia in youngsters.
By product type, the soft lenses segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption among patients for its comfort, flexibility, and suitability for a wide range of therapeutic applications, including myopia control, dry eye management, and post-surgical care. For instance, in June 2023, Bausch & Lomb introduced Biotrue® Hydration Booster eye drops, which are a supplement to their contact lens line and are intended to relieve symptoms of dry eyes over the long term. The drops are free of preservatives.
By application, the sealing & protection segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to the growing demand for therapeutic bandage lenses and scleral lenses for corneal protection, wound healing, and management of ocular surface disorders such as keratitis and corneal abrasions. For instance, CooperVision and Google announced a partnership in January 2024 to develop smart contact lenses for diabetes monitoring. This relationship indicates an intriguing potential for therapeutic applications in the field of contact lens technology in the future. Additionally, the drug delivery segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for innovative solutions for ocular drug delivery, driving the development of contact lenses embedded with drug-eluting technology for the treatment of various eye conditions such as glaucoma, allergic conjunctivitis, and retinal diseases.
By material type, the balafilcon and lotrafilcon segments accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to their excellent oxygen permeability, durability, and biocompatibility, making them preferred choices for extended wear and therapeutic applications such as myopia control, keratoconus management, and post-surgical care. For instance, in November 2023, Menicon Co., Ltd. received CE Mark approval for Menicon NIGHT SEED®, a non-invasive solution for controlling the growth of childhood myopia. Additionally, the senofilcon segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of its superior comfort, moisture retention, and advanced optical properties, catering to the demands of patients with sensitive eyes and those seeking enhanced vision correction for various ocular conditions.
By distribution channel, the retail pharmacies segment accounted for the highest revenue-grossing segment in the global therapeutic contact lenses market in 2023 owing to the growing accessibility and convenience for patients to purchase therapeutic contact lenses over the counter, coupled with expanding retail pharmacy chains and online platforms offering a wide range of contact lens options. For instance, Johnson & Johnson Vision Care introduced Acuvue Oasys with Transitions in February 2023. This new lens builds on the success of their Acuvue Oasys platform and incorporates light-filtering technology to provide all-day comfort and sharper vision in a variety of lighting settings. Additionally, the e-commerce segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of online shopping, convenience, wider product availability, and promotional offers, attracting more consumers to purchase therapeutic contact lenses through e-commerce platforms.
North American region is anticipated to have the highest revenue share during the forecast period owing to the region's advanced healthcare infrastructure, high prevalence of ocular disorders, strong presence of key market players, and increasing adoption of therapeutic contact lenses for various eye conditions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the region's rapidly expanding population, increasing disposable income, improving healthcare infrastructure, rising awareness about eye health, and growing prevalence of ocular disorders, driving the demand for therapeutic contact lenses. For instance, Hoya Corporation focuses on its HOYALUX iD Myopia Control lenses, which was introduced in 2022. These lenses use Defocus Incorporated Multiple Segments (DIMS) technology, which may be able to slow down the progression of myopia in young people.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Application, Material Type, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Therapeutic Contact Lenses Market Report 2023 - 2034
Therapeutic Contact Lenses Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Soft Lens
- Rigid Lens
Therapeutic Contact Lenses Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Corneal Surgery/Disorders
- Post Ocular Surgery
- Drug Delivery
- Others
Therapeutic Contact Lenses Market Analysis & Forecast by Material Type 2023 - 2034 (Revenue USD Bn)
- Balafilcon
- Lotrafilcon
- Methafilcon
- Senofilcon
- Others
Therapeutic Contact Lenses Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Retail Pharmacies
- E-commerce
- Hospital Pharmacies
- Others
Therapeutic Contact Lenses Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Therapeutic Contact Lenses Market: Product Type Estimates & Trend Analysis
8. Therapeutic Contact Lenses Market: Application Estimates & Trend Analysis
9. Therapeutic Contact Lenses Market: Material Type Estimates & Trend Analysis
10. Therapeutic Contact Lenses Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Therapeutic Contact Lenses Market
13. Europe Global Therapeutic Contact Lenses Market
14. Asia Pacific Global Therapeutic Contact Lenses Market
15. Latin America Global Therapeutic Contact Lenses Market
16. MEA Global Therapeutic Contact Lenses Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Johnson & Johnson Vision Care
- Alcon (a division of Novartis)
- Bausch + Lomb
- CooperVision
- Menicon Co. Ltd.
- Hoya Corporation
- Essilor International
- Contamac Ltd.
- SynergEyes Inc.
- Metro Optics Inc.
- X-Cel Specialty Contacts
- Art Optical Contact Lens Inc.
- Blanchard Contact Lenses
- ABB Optical Group
- TruForm Optics Ltd.
