Contact Lenses Market Analysis, Cost Structure, Key Players, Supply Chain relationship and Forecasts to 2027

According to a new market report published by Transparency Market Research titled “Contact lenses Market (Product Type – Soft Lenses (Daily Wear, Extended Wear), Gas Permeable; Design Type – Spherical, Toric, Multifocal, Others; Wear Type – Disposable, Reusable; Distribution Channel – Online (E-commerce Portal, Company Owned Portal), Offline (Exclusive Stores, Multibrand Stores))– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027,” the global contact lenses market was valued at US$ 7.31 Bn in 2017 and is expected to reach US$ 10.75 Bn in terms of revenue by 2027, expanding at a CAGR of 4.3% from 2019 to 2027. In terms of volume, the market stood at around 127,920 Thousand Units in 2017. Asia Pacific is projected to show the fastest growth rate during the forecast period due to the increase in aging population and rising prevalence of myopia.

The increasing demand for contact lenses in the cities of North America is helping to boost the contact lenses market in the region. Factors such as increasing aging population and myopia among early teens are contributing to the growth of the contact lenses market.

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By product type, soft contact lenses have the highest growth opportunities as they are cost effective and comfortable after use. Gas permeable contact lenses are recommended for consumers facing dry eye problems as they have more amount of oxygen.

By design type, the toric and multifocal contact lenses segments are expected to rise with new technology, enabling consumers to provide corrections for one or more vision defects.

By wear type, reusable segment constitutesthe major share in the global contact lenses market. However, demand for disposable contact lenses is increasing to avoid cleaning after each removal.

By distribution channel, the online segment is expected to expand atthe highest CAGR during the forecast period as compared to theoffline segment.

Geographically, in terms of revenue, North America held the largest share in the contact lenses market in 2017. After North America, Europe has the largest share. The Asia Pacific region is estimated to witness the fastest growth during the forecast period, dominated by China, India, and Japan. South America is expected to show slow growth as compared to the other regions of the world.

The contact lenses market consists of a large number of dominant players. Industry players focus on advance techniques to increase the quality and comfort level of the contact lens user. Bausch & Lomb Incorporated, Alcon (Division of Novartis AG), Johnson & Johnson Vision Care, Inc., CooperVision, Inc., ZEISS International, SEED Co. Ltd, Hoya Vision Care Company, Essilor, Menicon Co. Ltd, and BenQ Materials Corporation are the key companies profiled in the research report. The report also offers competitive landscape of the key players in the contact lenses market.

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The global contact lenses market is segmented as follows: -

Global Contact lenses Market, by ProductType

Soft Lenses

Daily Wear
Extended Wear

Gas Permeable

Global Contact lenses Market, by Design Type

Spherical
Toric
Multifocal
Others

Global Contact lenses Market, by Wear Type

Disposable
Reusable

Global Contact lenses Market, by Distribution Channel

Online

E-commerce portal
Company owned portal

Offline

Exclusive stores
Multi-brand stores

Global Contact lenses Market, by Region

North America

U.S.
Canada
Rest of North America

Europe

U.K.
Germany
France
Rest of Europe

Asia Pacific

China
India
Japan
Rest of Asia Pacific

Middle East & Africa (MEA)

GCC
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

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