Contact Lenses Market Size By Type (RGP, Soft Contact, Hybrid Contact), By Material (Hydrogel, Polymers), By Distribution Channel (Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores), By Design (Spherical, Toric, Bifocal And Multifocal), By Product (Corrective, Therapeutic, Cosmetic [Colored, Circle], Prosthetic), By Usage (Daily Disposable, Weekly Disposable, Monthly Disposable, Annual) Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Spain, Italy, Switzerland, Nordic Countries, Belgium, Luxembourg, Ireland, Poland, Russia, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE, Egypt, Tunisia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Sep 2019  |  Report ID: GMI2095  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 553   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Contact Lenses Market size in 2018 was over USD 9 billion with shipped volume of around 1,000 million units and the industry is estimated to grow at a CAGR of over 6% during the forecast timeline.
 

MEA Contact Lenses Market Shipment, By Region, 2018 & 2025 (Million Units)

MEA ContacLenses Market Shipment, By Region, 2018 & 2025 (Million Units)

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The growing prevalence of chronic eye diseases and increase in the number of children suffering from myopia are supporting the rising adoption of lenses. Demographic factors including aging population, growing urbanization, and rise in diabetic incidences are anticipated to fuel market growth. Consumers’ preference for high-quality products is also enabling companies to invest in the research & development of innovative smart lenses. Growing disposable income and increase in standard of living enable young population to wear cosmetic lenses. Growing investments in logistics & warehouses facilities coupled with the expansion in the overall e-commerce business are also helping in the rising product demand over the forecast timeframe.
 

Contact Lenses Market Report Coverage
Report Coverage Details
Base Year: 2018
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Pages: 553 Tables, Charts & Figures: 1346
Geographies covered (32): U.S, Canada, Germany, UK, France, Spain, Italy, Switzerland, Nordic Countries, Belgium, Luxembourg, Ireland, Poland, Russia, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE, Egypt, Tunisia
Segments covered: Type, Material, Distribution Channel, Design, Product and Region
Companies covered (13): Bausch Health Companies Inc (Bausch + Lomb, Inc.), Blanchard Contact Lenses, Carl Zeiss Beteiligungs-GmbH, Conforma Laboratories, Inc., Contamac, CooperVision, ESSILORLUXOTTICA (Essilor International S.A), Hoya Corporation, Johnson & Johnson (Johnson and Johnson Vision Care), Menicon, Novartis AG, SynergEyes, Inc., UltraVision CLPL

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Contact Lenses Market, By Type

The hybrid lenses segment is expected to hold a market share of over 50% by 2025 due to the increase in number of astigmatism and presbyopia patients. It has the tendency to center well due to its large diameter, providing a stable vision for wearers with astigmatism and presbyopia. The ability to collect less debris under these lenses makes them safer for the eyes. The oxygen permeable center helps in improving corneal health and eliminating the problems that cause defective vision.  No risk of dislodging during outdoor or during athletic activities is also helping the market growth.
 

Contact Lenses, By Material

Canada Contact Lenses Market Revenue, By Material, 2018 & 2025 (USD Million)

Canada Contact Lenses Market Revenue, By Material, 2018 & 2025 (USD Million)

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The hydrogel segment is expected to grow at a CAGR of over 7% during the forecast period due to the enhancing oxygen permeability of the hydrogel material. Less oxygen reaching the surface of cornea causes hypoxia that may lead to blurry vision, loss of visual clarity, and infection. Growing concerns to reduce hypoxia-related problems and growing consumer consciousness regarding the safety of extended wear and daily wear will drive material demand.  Silicone hydrogel lenses permit up to five times more oxygen to range the cornea compared to regular hydrogel lenses. These lenses also offer more comfort and hydration to the wearer throughout the day.
 

By Distribution Channel

APAC Contact Lenses Industry Share, By Distribution Channel, 2018

 APAC Contact Lenses Industry Share, By Distribution Channel, 2018

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The online store segment is expected to grow at a rate of over 7% during the forecast period due to the increase in customer preferences for online shopping. The growing internet penetration is enabling customers access several lenses through smartphone and tablets. According to the Ecommerce Foundation, an independent non- profit organization working for growth of ecommerce industry, 88% of consumers in the U.S. research products online before buying. Numerous ecommerce platforms are offering efficient and cost-effective solutions for ordering cosmetic lenses online. Changes in consumer choices toward online purchasing and thriving e-commerce will improve product demand.
 

By Design

Spherical design held over 70% contact lenses market share in 2018 due to the increase in the population suffering from near-sightedness and farsightedness. According to study of American Academy of Ophthalmology, in 2016, nearly 10 million adults were suffering from nearsightedness in the U.S.  The spherical design has the same lens power throughout the entire optical part of the lens to correct the hyperopia, myopia, and presbyopia. Rising consumer affordability is the key factor that attracts adults and working-class consumers to purchase spherical lenses over spectacles. These lenses are majorly prescribed for people with low astigmatism level.
 

Contact Lenses Market, By Product

The corrective lenses segment is expected to hold market share of over 40% by 2025 due to the increase in vision-related problems. For instance, according to the World Health Organization (WHO), 188.5 million people were suffering from the mild distance vision impairment and 217 million were suffering from moderate and severe distance vision impairment in 2018. The corrective lenses are used to improve the vision and treat refractive errors such as myopia, astigmatism, presbyopia, and hypermetropia. Spherical, toric, and bifocal & multifocal are majorly recognized corrective lenses. Product development in terms of the duration in the usage of lenses including disposable lenses has open new opportunities in the market.
 

Analysis By Usage

Brazil Contact Lenses Market Share, By Usage, 2018

Brazil Contact Lenses Market Share, By Usage, 2018 

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Daily disposable lenses are expected to grow at a CAGR of over 7% during the forecast period due to the provision of benefits such as convenience and hygiene. The daily disposable lenses are more convenient as they do not require cleaning. These lenses do not accumulate the lens deposits as they can be disposed after using for a day. The major contact lens manufacturers are focusing on introducing innovative daily disposable contact lenses to match the changing customer demands. For instance, in August 2019, Alcon launched daily disposable contact lens, Precision1 using SmartSurface technology. This new product launch helped the company to provide long-lasting comfort and ease of handling experience for its customers.
 

By Region

North America contact lenses market held over 30% share in 2018 due to the increase in awareness regarding eye health. The major pharmaceutical companies are focusing on increasing awareness regarding vision-related diseases. For instance, in July 2017, Allergan, a leading healthcare company, launched an online awareness campaign #EyePic as part of See America initiative to fight against preventable blindness and visual impairment in the U.S. This social media campaign broadened the awareness of preventable blindness and promoted the discussion around the eye health to encourage consumers in the country to consult eyecare specialists.
  

Competitive Market Share

The companies operating in the contact lenses market share are focusing on the strategic acquisition of online retailer companies to expand their customer base through ecommerce platforms. For instance, in 2017, Essilor acquired MyOptique Group, an online retailer of optical lenses. This acquisition helped the company expand its internet coverage to Central Europe and strengthen its online category & multi-brand approach.
 

The major players operating in the market are Bausch Health Companies Inc., Blanchard Contact Lenses, Carl Zeiss Beteiligungs-GmbH, Conforma Laboratories, Inc., Contamac, CooperVision, ESSILORLUXOTTICA, Hoya Corporation, Johnson & Johnson, Menicon, Novartis AG, SynergEyes, Inc., and UltraVision CLPL
 

Industry Background

The increase in refractive defects is resulting in consumer preferences toward vision-correcting optical products such as eyeglasses and lenses. The more comfort and compactness of the lenses over the eyeglasses enable customers to prefer them over the eyeglasses. Increasing incidences of vision disorders among consumers along with the convenience provided by lenses are the key factors driving the market growth. The rise in consumer affordability along with wide product availability will remain a key factor, fueling product penetration.


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