Global Cosmetic Contact Lens Market Analysis

Global Cosmetic Contact Lens Market Analysis

Colored cosmetic contact lens market size is expected to witness 7% CAGR up to 2024. It changes the user’s eye color to create a subtle facial appearance owing to decorative design to mimic the natural look. In addition, the product is available in attractive colorful insights with different shades and texture for creating a natural appearance.
 

Circle contact lens segment registered more than USD 600 million in 2017. Circle cosmetic contact lens is a decorative lens which helps appear larger eye than normal size. High product demand in countries including Japan, South Korea, and China owing to the escalating adoption among large population fostering the market growth.
 

Rigid gas permeable (RGP) market is likely to witness growth at over 6% from 2018 to 2024. These are majorly made from plastic material combined with other materials during the manufacturing process. The RGP has major benefits of oxygen flow through the lenses in the eyes. High oxygen flow through the lens reduce risk of allergies while daily product usage.  
 

Soft contact lens reported over 80% market share in 2017. This can be attributed to high comfort fostering industry size. Huge product availability and flexibility benefits owing to the usage of soft material is enhancing the quality standards driving the industry growth. The soft colored product is widely used due to its varied colors option influencing product demand in the market.
 

Hydrogel cosmetic lens market is anticipated to witness significant gains at 6.9% CAGR up to 2024. Rising demand for soft and comfortable eyewear influencing hydrogel material used during the manufacturing process for uplifting quality standards. U.S. Food and Drug Administration has classified hydrogels into four different categories with oxygen permeability standards. Silicon hydrogel has captured a strong focus from manufacturing companies owing to the enhanced level of oxygen permeability achievable. Soft with silicon material is incorporated with the skeletal structure for enhancing the customer experience.
 

Polymers segment contributed around 20% business share in 2017. Material is hard in nature which provides clear vision with limited comfort while wearing. Polyacrylamide polymer with improved water holding capacity is useful in producing decorative range. Most of the soft lens has ability to hold water contents for long duration to keep lens flexible. The rigid gas permeable application has gained strong attention from consumers owing to oxygen flow through the lens.
 

Optical stores channel captured over 23% industry share owing to the large dedicated channel for purchasing eyewear products. It has gained attention from consumers due to eye check-up services and consultation services thereby fueling the sales growth. Large number of outlets in the U.S. such as Vision Source, Luxottica Retails, Wal-Mart Stores and National Vision are the major optical retailers in the country supporting the business growth.
 

Online stores channel is projected to observe gains at over 7.5% owing to enhanced internet penetration globally. Strong e-commerce industry growth owing to huge consumer base majorly stimulating product demand. High convenienence offered owing to home delivery options will drive the cosmetic contact lens market share. Presence of e-commerce companies including Amazon, eBay, and Lenscart are offering multiple brands, color & shades that are offering product at low cost will further surge the business demand.
 

Spherical segment accounted at over USD 640 million in 2017. Rising adoption of colored contact lens with spherical deigns majorly boosting segment growth owing to clear vision benefits associated with it. Spherical designs are well-engineered premium product improves blurred vision for a longer duration. It also enhance ability to read or focus near object owing to improved designs instagating s demand.
 

Toric hydrogel segment is expected to capture over 15% market share by 2024. Silicone hydrogel maetrial is widely utilised  in the product owing to high oxygen permeability and wettability advantages. It has major application in hard and soft lens owing to the balanced toric inner surface, optic zone and peripheric curves. Toric lens has improved adoption among huge consumers owing to modern power adjusting benefits increasing the product demand.   

Daily disposable contact lens is expected to witness around 7% CAGR over the forecast timeline. Short time usage has increased product demand owing to  flexible & soft plastic material propelling of cosmetic contact lenses industry share. New pairs of lens provides adequate oxygen permeability to the eyes along with less cleaning time to the consumers.Rapid sales through the distribution channels including online portals will boost market growth.
 

Monthly disposable lenses market captured at over 32% revenue share in 2017. Disposable lenses are easy handling, superior durability, and competitive product prices advatntages  fostering market share. In addition, rising medical prescriptions from doctor for the monthly disposable lenses owing to low infection risk will further fuel the product demand.
 

 Europe market accounted for over USD 165 million in 2017 owing to the strong presence of fashion and apparel sector in France, Germany, and the UK. The prominent hub for fashion models, movie actors, and singers with a strong influence of music videos fostering coloured contact lens demand across the region. Growing usage of cosmetic contact lens owing to enhancing fashionable gestures in young generation primarily stimulating industry share.   
 

Asia Pacific cosmetic contact lens market is expected to witness more than 6% CAGR. Growth is majorly contributed by China, Japan, Taiwan and South Korea owing to the high adoption of product across the region. Huge population base instigating demand for the spherical cosmetic contact lens. Huge penetration in entertainment industry positively influencing the population in China, South Korea, and Japan will strongly support the industry share.