The Global Contact Lenses Market Size Was Valued At USD 9.48 Billion In 2021. The Market Is Projected To Grow From USD 9.94 Billion In 2022 To USD 14.80 Billion By 2030, Exhibiting A CAGR Of 5.9% During The Forecast Period.
Contact Lenses Market Overview
Global Contact Lenses Market Size, Status, and Forecast 2023-2030. In-depth research accumulated to offer the latest insights about acute features of the global Contact Lenses market. This report provides a detailed overview of key factors in the Contact Lenses Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Contact Lenses in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of the COVID-19/Russia-Ukraine War on the regional economy.
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Market Overview:
The COVID-19 pandemic has been shocking and has never happened before. Compared to what it was before the pandemic, demand is lower than expected in all areas. Our research shows that the global market was 9.0% smaller in 2020 than in 2019.
Thin lenses called contact lenses are put on the surface of the eye to help people see better. Depending on how they feel and how often they can be used, the lenses can be hard or soft. During the forecast period, the market is expected to grow because more people in developing countries are using these devices and the number of people with refractive errors is growing everywhere.
A study found that 116.3 million people with uncorrected refractive error have moderate to severe vision loss, according to a BMC Public Health report from 2021. As the number of people with refractive errors around the world goes up and more people learn that contact lenses can help them see better, the market for contact lenses is likely to grow.
Some of the key players profiled in the study are
Johnson & Johnson Vision Care, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Bausch & Lomb Incorporated (Canada), Alcon (Switzerland), The Cooper Companies Inc. (U.S.), Hoya Corporation(Japan), EssilorLuxottica (France), Menicon Co., Ltd. (Japan), and Others.
Contact Lenses Market Segmentation:
By Modality:
- Reusable
- Disposable
- Others
By Design:
- Toric
- Multifocal
- Spherical
- Others
By Distribution Channel:
- Ophthalmologists
- Retail Stores
- Online Stores
- Others
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia, and New Zealand, etc.
Regional Insights:
In 2021, North America had the biggest share of the USD 3.27 billion market for contact lenses. More and more people are getting refractive errors, and patients are learning more about how to fix their vision. Strategic partnerships and collaborations are also getting more attention from market players. So, these are the main reasons why the market in North America is growing.
In April 2021, for example, Johnson & Johnson Vision and Menicon, a top company that makes innovative lenses, announced a global strategic partnership. The goal of this partnership was to make therapeutic lenses that would help stop children from getting myopia or making it worse if they already had it.
Also, the number of people in the U.S. who wear contact lenses is likely to slowly go up. In 2021, 31 million people in the U.S. will be wearing contact lenses, according to a report from the U.S. Environmental Protection Agency. The North American market is likely to grow because more people will want to use it because their tastes in eyewear are changing.
Also, Europe had the second biggest share of the global market. This is because a lot of people have eye problems like nearsightedness and farsightedness, the area is using more and more advanced products, and new lenses have been approved by the government.
14.8% of people in Sweden wear contact lenses, according to the Association of Optometrists. This is followed by Denmark with 13.19% and Norway with 11.37%. In the near future, this is likely to help the market grow.
On the other hand, the Asia-Pacific market is expected to grow the most quickly over the next few years. In Asian countries, the market is growing because more people are having trouble seeing and doctors are getting better at diagnosing eye diseases in their clinics and hospitals. The market is also growing because the middle class in the area is growing.
Latin America had a smaller share of the world market, just like the Middle East and Africa. But the number of people with vision problems is going up, and more and more people in these areas are using these devices. This is expected to help the economy grow in the coming years.
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Table of Content of Contact Lenses Market:
1: Introduction, market driving force product Objective of Study, and Research Scope of the Global Contact Lenses market (2023-2030).
2: Exclusive Summary – the basic information of the Global Contact Lenses Market.
3: Changing Impact on Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Global Contact Lenses; Post COVID Analysis.
4: Presenting the Global Contact Lenses Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
5: Displaying the by Type, End User and Region/Country 2017-2022.
6: Evaluating the leading manufacturers of the Global Contact Lenses Market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile.
7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2023-2030).
… To be continued
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Key Questions Answered in the Contact Lenses Market Report:
- How much was the global Contact Lenses market in 2022?
- How much will the global Contact Lenses market worth in 2030?
- At what compound annual growth rate will the global Contact Lenses market grow?
- Which segment is estimated to lead the Construction Robot market during the forecast period?
- What is the key market driver for the growth of the global Contact Lenses market?
A wealth of financial data & business strategy information is provided including:
- Up-to-date company financials, sales & revenue figures.
- Revenue and market forecasts.
- Business model strategies for niche companies.
- A comprehensive explanation of company products, financials & portfolios.
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