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The study considers a detailed scenario of the present global contact lenses market and its market dynamics for 2024−2029. It 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
- 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 on the rise due to multiple factors, including the increasing geriatric population, growing consumer awareness regarding contact lens usage, 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% and was the largest market, followed by APAC (26.76%), Europe (23.99%), Latin America (7.94%) and then Middle-East and Africa (4.09%) in global contact lenses market.
- In 2023, the APAC contact lenses market was valued at $2.61 billion, which is expected to grow at a CAGR of 6.66% to reach $3.84 billion by 2029. The increasing focus on the development of 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 are propelling the growth of the segment.
- 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 geriatric population, increasing prevalence of chronic eye disorders, and rising awareness of contact lenses.
- Johnson & Johnson Vision, Alcon Inc, CooperVision, HOYA Corp, Bausch+Lomb and EssilorLuxottica are some of the leading players currently dominating the global contact lenses market. The major players focus on strategic acquisitions, collaborations with emerging players to enter the contact lenses market and to gain access to commercially launched products.
VENDORS LIST
1. Johnson & Johnson Vision2. 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
PRODUCT SEGMENTATION & 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
Table of Contents
Companies Mentioned
- Johnson & Johnson Vision
- CooperVision
- Alcon Inc.
- Bausch + Lomb
- HOYA Corp
- EssilorLuxottica
- Menicon
- Carl Zeiss Meditec
- SynergEyes
- X-Cel Specialty Contacts
- ClearLab
- STAAR Surgical
- Visioneering Technologies Inc.
- Solotica
- Sensimed AG
- Oculus Private Limited
- NeoVision
- Interojo
- Clerio Vision
- Contamac
- Maxvue Vision
- St. Shine Optical
- BenQ Material
- Ultravision CLPL
- Seed Co Ltd.
- Aqualens
- Feel Good Contacts
- Bescon
- CAMAX OPTICAL
- Medios
- POLYTOUCH
- Shanghai Weicon Optical
- Ginko International
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 136 |
Published | October 2023 |
Forecast Period | 2023 - 2029 |
Estimated Market Value ( USD | $ 9.77 Billion |
Forecasted Market Value ( USD | $ 13.57 Billion |
Compound Annual Growth Rate | 5.6% |
Regions Covered | Global |
No. of Companies Mentioned | 33 |