Global Contact Lenses Market Expected to Reach USD 14.6 Billion by 2033 | Driven by Increasing Fashion Trends and Demand for Colored Contact Lenses (2024)

November 21, 2024 | Healthcare

Global Contact Lenses Market Statistics, Outlook and Regional Analysis 2025-2033

The global contact lenses market size was valued at USD 9.0 Billion in 2024, and it is expected to reach USD 14.6 Billion by 2033, exhibiting a growth rate (CAGR) of 4.98% from 2025 to 2033.

One of the primary factors fueling the growth of the global contact lens market is the rising prevalence of eye disorders, particularly myopia and hyperopia. The rising prevalence of refractive errors, such as myopia (nearsightedness) and hyperopia (farsightedness), is a growing global concern, driven by lifestyle shifts, increased screen time, and advancing urbanization. Globally, 2.2 billion people experience vision impairment, with 1 billion cases preventable or untreated, highlighting the urgent need for improved vision care and intervention worldwide. This trend has led to a heightened demand for vision correction solutions, such as contact lenses, which are becoming more popular due to their convenience, comfort, and aesthetic appeal compared to traditional glasses. Myopia, in particular, is seeing a rise in young populations, further boosting demand. Additionally, advancements in contact lens technology, such as the development of lenses that offer enhanced comfort and longer wear time, are addressing consumer needs and impelling the market growth. The growing awareness about vision health and the availability of a variety of contact lens types are also key factors contributing to the market's expansion.

Another major factor supporting the market growth is the recovery of consumer confidence, particularly in the United States. As the U.S. economy showed signs of stabilizing, with labor markets remaining strong, many consumers regained access to vision care benefits, which facilitated continued demand for contact lenses. This rebound in consumer confidence was crucial, as it directly impacted the purchasing power of consumers and their willingness to spend on non-essential healthcare products like contact lenses. Moreover, the stability in employment allowed more individuals to retain vision care insurance, making contact lenses more accessible. This steady demand is strengthening the market growth.

Global Contact Lenses Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share owing to the rapid technological developments, such as silicone hydrogel lenses that provide increased comfort and extended wear.

North America Contact Lenses Market Trends:

The North American contact lens market is driven by technological advancements, with innovations in silicone hydrogel lenses offering improved comfort and longer wear time. Rising awareness of eye health and vision correction contributes to the increasing adoption of contact lenses, especially among younger, active consumers. The demand for cosmetic and colored contact lenses is also on the rise, fueled by fashion trends. Additionally, the growing online retail sector makes contact lenses more accessible and convenient. Strategic industry moves also highlight the market's dynamic nature. For instance, Novartis signed a deal to divest its ‘front of eye’ ophthalmology assets, including Xiidra® and SAF312, to Bausch + Lomb for up to USD 2.5 billion, underscoring its focus on core areas and creating opportunities for market growth.

Asia-Pacific Contact Lenses Market Trends:

The Asia-Pacific contact lens market is growing due to high myopia prevalence, especially in China and Japan. Technological advancements, like silicone hydrogel lenses, are increasing comfort and wearability. Additionally, the rising middle class and improved awareness about eye health contribute to the expanding demand for corrective lenses.

Europe Contact Lenses Market Trends:

In Europe, the contact lens market is driven by technological innovations in lens materials and designs, offering improved comfort and durability. A growing focus on eye care, alongside increased preference for aesthetic lenses, such as colored and cosmetic contacts, fuels market demand. Online retail expansion also contributes to growth.

Latin America Contact Lenses Market Trends:

The Latin American market for contact lenses is expanding due to increasing awareness of eye health and vision correction. Growing disposable incomes and the rising number of middle-class consumers are boosting demand. Moreover, the popularity of daily disposable lenses and advancements in lens comfort and design are enhancing market growth.

Middle East and Africa Contact Lenses Market Trends:

The contact lenses market in the MEA region is expanding, driven by increased awareness about eye care and vision correction. In confluence with this, the rising disposable incomes of consumers and a growing interest in aesthetic and colored lenses are providing an impetus to the market growth.

Top Companies Leading in the Contact Lenses Industry

Some of the leading Contact Lenses market companies include Alton Vision LLC, Bausch & Lomb Incorporated, Carl Zeiss AG, Contamac Holdings Limited, EssilorLuxottica SA, Hoya Corporation, Johnson & Johnson Services, Inc., Menicon Co. Limited, SEED Co. Limited, SynergEyes Inc., Cooper Companies Inc., among many others.

• On April 1, 2024, Menicon launched the Menicon FUTURE DEVICE LABORATORY at Tohoku University to advance eco-friendly contact lens production. Collaborating under Japan's Strategic Innovation Promotion Program, the lab focuses on recycling plastics used in lens production and distribution. Menicon plans to install collection boxes for disposable contact lens cases across its stores, schools, and malls. This initiative aims to recycle lens cases into materials for vehicles, aligning with global efforts to integrate post-consumer recycled plastics for sustainable development.

Global Contact Lenses Market Segmentation Coverage

• On the basis of the material, the market has been categorized into gas permeable, silicone hydrogel, hybrid, and others, wherein silicone hydrogel represents the leading segment due to its high oxygen permeability, ensuring better eye health and comfort. These lenses provide extended wear time, reducing dryness and irritation. Their advanced material allows for greater breathability, making them a preferred choice for users seeking both comfort and long-term wearability.
• Based on the design, the market is classified into spherical, toric, multifocal, and others, amongst which spherical dominates the market due to their simplicity and effectiveness in correcting nearsightedness and farsightedness. Their design provides uniform curvature, making them suitable for a wide range of users. These lenses are easy to manufacture, affordable, and widely accessible, making them the most popular choice among contact lens wearers.
• On the basis of the usage, the market has been divided into daily disposable, disposable, frequently replacement, and traditional. Among these, daily disposables account for the majority of the market share due to their convenience and hygiene benefits. These lenses are designed for single use, eliminating the need for cleaning or storage, making them ideal for busy lifestyles. Their growing popularity is also driven by increased consumer awareness of eye health and the desire for comfort.
• Based on the application, the market is segregated into corrective, therapeutic, cosmetic, prosthetic, and lifestyle-oriented. Among these, corrective accounts for the majority of the market share as they address common vision issues like nearsightedness, farsightedness, and astigmatism. Their widespread use, driven by the high prevalence of refractive errors, makes them the leading segment. Additionally, advancements in lens materials and comfort continue to fuel demand for corrective lenses.
• Based on the distribution channel, the market is classified into e-commerce, eye care practitioners, and retail stores, amongst which retail stores dominate the market due to their widespread availability and convenience. Consumers prefer purchasing lenses in person, benefiting from immediate product availability and expert assistance. Additionally, retail stores offer a variety of brands and lens types, catering to diverse customer needs, which contributes to their market leadership.

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