According to a new report published by xResearch, titled, “Contact Lenses Market 2022- Industry Insights, Trends, Opportunity & Forecast, 2021–2030,” the global contact lenses market size is anticipated to witness a CAGR of 6.4% during the forecast period i.e. 2022-2030.
In 2021, the global contact lenses market was valued at USD 8,053.7 million. By 2030, the market is forecasted to reach USD 13,229.0 million at a compound annual growth rate (CAGR) of 6.4%. The major factors fueling the contact lenses market include increasing preference for contact lenses over prescription eyeglasses, growing prevalence of myopia, and growing geriatric population worldwide.
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Geographically, the North America region commanded the global contact lenses market in 2021, followed by Europe and Europe. The trend is expected to continue during the forecast period. This can be attributed to high number of patient population, launch of new products and high awareness among patients. The U.S. and Canada stand as the leading contributors to the contact lenses market in this region.
Some of companies profiled in report include Alcon Laboratories, Inc. , Bausch + Lomb, Carl Zeiss AG, Abbott Medical Optics, Inc., CooperVision, Inc., Essilor International S.A., Johnson & Johnson Vision Care, Inc., SynergEyes, Inc., Hoya Corporation, Seed Co., Ltd., and Other Key & Niche Players.
The global contact lenses market is segmented into type, design, region, product, distribution channel, and region. Based on type, the contact lenses market is segmented into rigid gas permeable (RGP) contact lenses, soft contact lenses, and hybrid contact lenses. Based on design, the contact lenses market is segmented into spherical, bifocal, multifocal, and toric. Based on the product, the global contact lenses market is categorized into corrective lens, therapeutic lens, cosmetic lens, and prosthetic lens. Based on distribution channel, the market was studied across online stores, and offline stores.
The global contact lenses market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, Nordic Countries and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Southeast Asia, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Contact Lenses Market
- On the basis of type, the soft contact lenses segment led the global contact lenses market in 2021. The segment is projected to maintain its position further in the market during the forecast period of 2022-2030.
- On the basis of design, the spherical segment dominated the global contact lenses market in 2021. The segment slated to continue with its dominance throughout the forecast period of 2022-2030.
- On the basis of product, the corrective lens segment held the largest share of the global type market in 2021. The segment’s position is expected to remain unchanged during the forecast period of 2022-2030.
- On the basis of distribution channel, the offline stores segment accounted for leading share of the global contact lenses market in 2021.
- On the basis of region, the North America region commanded the global contact lenses market in 2021, followed by Europe and Asia Pacific. The trend is expected to continue during the forecast period.
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