- Soft Lens
- Rigid Gas Permeable (RPG) Lens
- Hybrid Lens
Contact Lenses Market is valued at USD 10,303.6 Million in 2021 and is poised to grow at a significant CAGR of 5.3% over 2022â€“2028. In optics and optometry, a large variety of research and development initiatives have been used to progress the technology. The introduction of dynamic soft contact lenses with improved technology has accelerated the expansion of the contact lens market. The use of contact lenses has increased due to increased product releases and developments. for example, In March 2019, Alcon Vision LLC introduced the AcrySof IQ PanOptix Trifocal IOL in the United States, which may be utilized for intermediate, distance, and close vision. Furthermore, the expanding trend in contact lens advancements with drug-delivery capabilities is projected to fuel market demand. Furthermore, increase knowledge of the advantages of detachable lenses over reusable lenses, such as avoiding the adverse effects of cleaning solutions, such as eye discoloration. Furthermore, the market's major companies are involved in generating awareness campaigns and launching innovative goods, both of which are expected to boost the growth of daily disposables. For instance, in January 2021, Precision1 for Astigmatism, a daily disposable silicone hydrogel (SiHy) lens developed for astigmatic patients in the United States, was presented by Alcon Vision LLC, an eye care product company. The worldwide contact lens market is seeing sales opportunities as the trend of participation in outdoor activities grows. These products are increasingly used for cosmetic and aesthetic purposes in addition to their traditional function as refractive lenses. As a result, the popularity of wearing contact lenses for decorative purposes is expected to increase market sales growth over the projection period. The product now has a new level of texture with small colored dots and lines due to technological advancements. To attract more customers, major firms are offering a variety of colors such as blue, hazel, green, violet, brown, grey, and amethyst. Globally, increased demand for improved eyeglasses goods among major consumers is fueling industry expansion over the anticipated period. Recent Market Developments: In January 2021, Alcon, the global leader in eye care dedicated to helping people see brilliantly, announced launch of DAILIES TOTAL for Astigmatism, the first and only Water Gradient contact lens for patients with astigmatism
Fastest Growing Market
Manufacturers of contact lenses supply wholesale and retail distributors and distribute their lenses through various channels. The rising number of active lens wearers, technological developments, and the invention of silicone hydrogel material for soft fabric lenses have all contributed to significant market expansion. Orthokeratology (Ortho K) is a recent technical innovation that involves wearing specially created overnight contact lenses to rearrange the anatomy of the eyes while sleeping to improve vision. However, problems such as the availability of alternative procedures and lens difficulties are anticipated to stifle market expansion.
The contact lenses market is projected to expand at a CAGR of 5.3% during the forecast period.
Asia-Pacific is the fastest-growing region for contact lenses market
Alcon Laboratories, Abbott Medical Optics, CooperVision, Johnson & Johnson, Carl Zeiss