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Contact Lenses Market Size Projected $19.26 Billion by 2027 With CAGR of 5.0% | Key Players in The Content Lenses Market are Abbott Medical Optics, Inc.; & Alcon Vision LLC: Grand View Research, Inc.

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Contact Lenses Market Size Projected $19.26 Billion by 2027 With CAGR of 5.0% | Key Players in The Content Lenses Market are Abbott Medical Optics, Inc.; & Alcon Vision LLC: Grand View Research, Inc.

March 25
10:16 2020
Contact Lenses Market Size Projected $19.26 Billion by 2027 With CAGR of 5.0% | Key Players in The Content Lenses Market are Abbott Medical Optics, Inc.; & Alcon Vision LLC: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. the global contact lenses market size was valued at USD 12.79 billion in 2019 and is anticipated to expand at a CAGR of 5.0% from 2020 to 2027. Corrective lens is preferably used to correct refractive errors and compensate for visual deficiencies, such as myopia hypermetropia/hyperopia, presbyopia, and astigmatism.

The global contact lenses market size is expected to reach USD 19.26 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to exhibit a CAGR of 5.0% from 2020 to 2027.

The use of innovative materials for manufacturing contact lenses and increasing adoption of contact lenses are prominent factors boosting the growth of the market. The rising consumer consciousness regarding physical appearance and vision correction advantages of the product are projected to drive the market growth. Rising demand from aging population is also expected to drive the product demand. Factors such as rising disposable income and improvement in the overall global economy are anticipated to further propel the growth.

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North America contact lenses market

Contact lens manufacturers are the source for wholesale distributors as well as retail distributors. Manufacturers distribute their contact lenses through a variety of channels. Significant growth of the market can be attributed to factors such as increasing number of active lens wearers and technological advancements including the development of silicon hydrogel material for the soft lenses for convenient usage are expected to bode well for the growth of the contact lenses market in the forthcoming years.

Further key findings from the report suggest:

  • Soft lenses segment is expected to generate the highest revenue over the forecast period. The product has the highest acceptance rate, owing to its flexibility and oxygen permeability along with ability to provide user comfort

  • The multifocal design segment is expected to portray a high CAGR of 7.1% over the projected period

  • South America is expected to register significant growth over the forecast period, owing to the large-scale penetration of contact lenses

  • The key players in the content lenses market areAbbott Medical Optics, Inc.; Alcon Vision LLC; Bausch & Lomb, Incorporated; ZEISS International; Contamac; CooperVision, Inc.; Essilor International S.A.; Hoya Corporation; Johnson & Johnson Vision Care, Inc.; Medennium; Seed Co., Ltd.; STAAR Surgical Company; SynergEyes, Inc.; and X-Cel Specialty Contacts

Have Inquiry before buying about this report, our team of analyst will be glad to help!

Global contact lenses market

 

In the material segment, the hybrid contact lens is expected to portray the highest CAGR over the forecast period. By application, the adoption of corrective contact lenses is anticipated to rise, owing to increasing use of for correction of refractive errors. They are used for correcting hypermetropia/hyperopia, presbyopia, astigmatism, and myopia. Based on usage, the daily disposables contact lenses accounted for the largest market share in 2019.

Access complete Contact Lenses Market Report By Grand View Research, Inc.

Grand View Research has segmented the global contact lenses market based on material, design, application, distribution channel, usage, and region:

Contact Lenses Material Outlook (Revenue, USD Million, 2016 – 2027)

  • Gas Permeable

  • Silicone Hydrogel

  • Hybrid

Contact Lenses Design Outlook (Revenue, USD Million, 2016 – 2027)

  • Spherical

  • Toric

  • Multifocal

  • Others

Contact Lenses Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Corrective

  • Therapeutic

  • Cosmetic

  • Prosthetic

  • Lifestyle-oriented

Contact Lenses Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • E-commerce

  • Eye Care Practitioners

  • Retail

Contact Lenses Usage Outlook (Revenue, USD Million, 2016 – 2027)

  • Daily Disposable

  • Disposable

  • Frequently Replacement

  • Traditional

Contact Lenses Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Singapore

    • Australia

    • South Korea

  • South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • UAE

    • Saudi Arabia

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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