Global Contact Lenses Market, By Mode (Daily Wear, Extended Wear, Traditional Wear), By Design (Sphe

Published Date: | Report Code : HC1922593

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The Contact Lenses Market is expected to witness tremendous growth during the forecast period. As per the American Ophthalmic Association, approximately 123 million people in the US will be affected by presbyopia by 2020. The market growth can be attributed to the increasing incidences of optical disorders and disposable incomes. According to a WHO report, macular degeneration is the third leading cause of visual impairment worldwide. It is one of the major causes of visual deficiency in industrialized countries. Increasing R&D investments and technological advancements in the field of optometry is further fueling market growth. For instance, in November 2018, Seed Co. Ltd., in collaboration with IMEC, developed a contact lens, which consists of LED light, silicon microchip, and a radiofrequency antenna.

Segment Analysis

The contact lenses market has been segmented into model, design, material, application, and distribution channel. Base on model, the market has been divided into daily wear, extended wear, and traditional wear contact lenses. Based on design, the market has been segmented into spherical, toric, multifocal/bifocal, cosmetic, and others.

Based on material, the market has been segmented into silicon hydrogel, gas-permeable, hybrid, and PMMA contact lenses. The hybrid lenses segment is expected to exhibit lucrative growth during the forecast period. Increasing incidences of astigmatism and keratoconus are driving the demand for hybrid lenses. It is a mixture of silicon hydrogel and gas permeable.

Based on application, the market has been segmented into therapeutic, cosmetic, prosthetic, and lifestyle-oriented. Based on distribution channel, the market has been segmented into eyecare professionals/hospitals/ophthalmic clinics, e-commerce/online pharmacies, and retail. The e-commerce channel has simplified the distribution channel and is encouraging manufacturers to expand their footprint.

The market is highly fragmented with the presence of many large and small market players. Major key players in the market are CIBA Vision (Alcon), Johnson & Johnson Services, Inc., Cooper Vision, Inc., and Bausch & Lomb Incorporated, etc. Companies are retaining their market share through new product launches, mergers & acquisitions, regional expansions, and strategic initiatives.

Key Factors Impacting Market Growth:

  • Increasing preference for contact lenses
  • Increasing cases of myopia  
  • Growing regulations over productions and distributions

Regional Outlook:

North America, Western Europe, and Asia Pacific by region are estimated to dominate the contact lense market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, the government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for contact lense market during the forecast period. 

The US, Germany, France, UK, Canada, and Spain have been some the major markets in the region. Asia Pacific is estimated to register one of highest CAGR for contact lense market during the forecast period. This region has witnessed strategic investments by global companies to cater the growing demand in the recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for contact lense market in the region. Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for contact lense during the forecast period.

Companies covered: CIBA Vision (Alcon), Johnson & Johnson Services, Inc., Cooper Vision, Inc.; and Bausch & Lomb Incorporated…

Market Segmentation:

By Model:

  • Daily Wear Contact Lens
  • Extended Wear Contact Lens
  • Traditional Wear Contact Lens

By Design:

  • Spherical Contact Lens
  • Toric Contact Lens
  • Multifocal/Bifocal Contact Lens
  • Cosmetic Contact Lens

By Material:

  • Silicone Hydrogel Contact Lens
  • Gas-permeable Contact Lens
  • Hybrid Contact Lens
  • Polymethyl Methacrylate (PMMA) Contact Lens

By Application:

  • Therapeutic
  • Cosmetic
  • Prosthetic
  • Lifestyle-oriented

By Distribution Channel:

  • Retail Stores
  • Eyecare professionals /Hospitals/Ophthalmic Clinics
  • E-commerce /Online Pharmacies

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel 
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel 
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel 
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel 
  • Rest of the World
    • By Region (South America, Africa)
    • By Model
    • By Design
    • By Material
    • By Application
    • By Distribution Channel

Reasons To Buy This Report:

  • Market size estimation of the contact lens market on regional and global basis
  • Unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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We provide customization of the study to meet specific requirements:

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