A recent research report by MarkNtel Advisors states that the Global Contact Lens Market is set to experience around 5.5% CAGR during 2022-27. The growing number of people with vision disabilities, i.e., demonstrating a burgeoning adoption of contact lenses for better vision & treating eyesight disabilities, coupled with the rising awareness among people about the availability & benefits of organic, safe, & comfortable contact lenses for longer wear durations, are the prime aspects driving the global market. Moreover, the mounting focus of the companies on manufacturing contact lenses with eco-friendly materials is also promoting their adoption worldwide.
Furthermore, with the growing penetration of the internet & devices like smartphones, laptops, and desktops, among others, several leading players & new entrants in the industry are showing a greater inclination toward digital platforms to expand their scalability & customer base. It, in turn, is also portraying a surge in sales of contact lenses through online channels due to easy payments & features like customization, door-step deliveries, exciting deals, etc., and positively influencing the market growth, further states the research report, “Global Contact Lens Market Analysis, 2022.”
With Easy Adjustment & Adaptability to Eyes, Soft Contact Lenses to Dominate the Market
Soft contact lenses are projected to dominate the Global Contact lens market with the largest share during the forecast period. The burgeoning demand for soft contact lenses worldwide owes to the rising consumer inclination toward comfortable & high-quality lenses with soft & flexible structures, coupled with the easy adjustment & adaptability of these lenses to the eyes. Besides, the fact that soft lenses help avoid hardness, rigidness, & permeability is also augmenting their demand and, in turn, contributing to the overall growth of the Global Contact Lens Market.
Growing Trend of Color Cosmetic Lenses in the US & Canada to Boost the North America Contact Lens Market
Among all regions worldwide, North America, with the rising population suffering from vision disabilities, is likely to acquire the largest share in the Contact Lens Market during 2022-27. The region is home to the leading contact lens manufacturers, especially across the US & Canada, introducing new varieties in their product offerings to cater to the increasing number of people with vision problems.
Moreover, the mounting public inclination toward colorful cosmetic lenses is another crucial aspect augmenting the demand for contact lenses across the region. As a result, the leading manufacturers are actively working on increasing their production & distribution capabilities, which projects lucrative prospects for the North America Contact Lens Market through 2027.
Competitive Landscape
The major companies in the Global Contact Lens Market include Alcon Vision LLC., Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, CooperVision, Inc., Carl Zeiss Meditec AG, Essilor International S.A., Hoya Corporation, Johnson & Johnson Vision Care, Inc., Medennium, SynergEyes, Inc., Seed Co., Ltd., STAAR Surgical Company, and X-Cel Specialty Contacts.
Key Questions Answered in the Research Report:
Market Segmentation