Global Contact Lenses Market Trends, Forecast Report 2025-2037
Contact Lenses Market size is poised to expand from USD 18.84 billion to USD 49.47 billion, exhibiting a CAGR of more than 7.7% throughout the forecast period, from 2025 to 2037. In the year 2025, the industry size of contact lenses is estimated at USD 20.02 billion.
The key factors driving the market revenue are expanding preference for contact lenses among developing nations and the frequency of refractive defects worldwide. By 2025, the volume in the contact lenses industry is projected to reach over 7,800 million units. Volume growth of around 13% is anticipated for the contact lens industry in 2023.
Online vision tests have become more popular recently, however, for legitimate reasons, an eye test for the elderly, adults, or kids from a reputable optometrist is still the only method to acquire a prescription for contact lenses. Additionally, with the rising interests amongst individuals for contact lenses, eye tests are nowadays streamlined and tailored to meet the needs of these individuals by including a contact lens test. These lenses offer the vision correction that the majority of people require without the use of frames and lenses which some individuals find vital for certain activities and lifestyles. Approximately, 8% of people who wear contacts are below the age of 17 and 14% are aged from 18 to 24, and 75% of people over the age of 25 wear contacts.
Contact Lenses Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Prevalence of Refractive Errors - A contact lens is recommended to correct refractive errors and compensate for visual impairments such as myopia, hyperopia, presbyopia, and astigmatism. This may also lead to an increase in door activities and further improves the contact lenses market growth. For instance, refractive errors account for 43% of visual impairment and are the second leading cause of vision loss worldwide. 12 years back, untreated refractive errors caused blindness in 6.8 million people and visual impairment in 101.2 million people.
- Increasing Geriatric Population – Almost 67% were more possibly than women to have refractive errors in the elderly population around 60 percent. Age was associated with a rise in the incidence of any refractive error, reaching 63.5 % in those over 60.
- Growing Preference for Eye Testing – The significance of eye testing is becoming more widely understood, pertaining to defense, early detection, care, and rehabilitation. For instance, there were around 13.8 million eye tests administered by the National Health Services (NHS) in England during 2019-2020. While about 9.5 million eye tests were performed by the NHS 22 years ago, the number of sight tests conducted has climbed almost year over year.
- Growing Developments in Technological Advancements for Enhanced Usability – Optometry and optics have seen a marked growth in R&D efforts associated with the market under study. Recent developments in the sector such as the introduction of dynamic soft contact lenses using cutting-edge technology have accelerated the demand for contact lenses around the world. 90% of the people who wear contact lenses wear soft lenses.
Challenges
- Growing Concern for Eye Inflammation or Infection as a Result of Improper Contact Lens Care and Hygiene
- Surge in Chances for Corneal Ulcers, Eye Infections, and Even Blindness
- Emergence of COVID-19 Adversely Impacted the Key Players in the Contact Lenses Market
Contact Lenses Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.7% |
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Base Year Market Size (2024) |
USD 18.84 billion |
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Forecast Year Market Size (2033) |
USD 49.47 billion |
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Regional Scope |
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Contact Lenses Segmentation
Material (Gas Permeable, Silicon Hydrogel, Hybrid)
The silicone hydrogel segment is attributed to garnering the highest contact lenses market share by 2037, led by comfort and hydration provided while wearing lenses. It is estimated that silicone hydrogel materials are adopted in 78% of contact lens fittings. This ratio is significantly greater for patients who wear frequent replacement contact lenses, 83% of these lenses are made of silicone hydrogel materials.
Our in-depth analysis of the global market includes the following segments:
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By Material |
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By Design |
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By Application |
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Customize this ReportContact Lenses Industry - Regional Synopsis
North America is projected to hold largest market share by the end of 2037. The enhanced market potential includes the number of people who adopt contact lenses, the number of people suffering from refractive problems, and growing awareness of the benefits of vision correction therapies. According to CDC, around 45 million Americans wear contact lenses.
Companies Dominating the Contact Lenses Landscape
- Johnson & Johnson Vision Care, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Carl Zeiss AG
- Bausch & Lomb Pvt. Ltd.
- Alcon Vision LLC
- Cooper Vision, Inc.
- Hoya Corporation
- Essilor Luxottica
- Menicon Co., Ltd.
- SynergEyes, Inc.
- Walman Optical
In the News
- Alcon to introduce DAILIES Total 1 contact lens for astigmatic patients in the United States.
- For the past year, Bausch & Lomb and InWith Corporation, which controls key enabling IP in augmented contact lenses, have been working on the development of smart contacts.
Author Credits: Radhika Pawar
- Report ID: 223
- Published Date: Jan 17, 2025
- Report Format: PDF, PPT
