Chicago, April 13, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the changing lifestyles in high-income countries and increasing demand for new products are driving the disposable contact lenses market growth.
Cosmetic contact lenses are popular and convenient for correcting vision. Specialty or custom lenses are available, which are primarily used to correct blind or disfigured eyes, thereby improving appearance. Cosmetic disposable contact lenses are also used for traveling and daily use. Increasing the range of products in the cosmetic segment will have a huge positive impact on the customers, which will help the companies to gain market share.
Disposable Contact Lenses Market Report Scope
| REPORT ATTRIBUTES | DETAILS | |
| MARKET SIZE (2027) | 11.46 Million | |
| CAGR | 9.27% | |
| FASTEST GROWING REGION | APAC | |
| REGION WITH LARGEST SHARE | North America | |
| MARKET SEGMENTS (USAGE) | Daily Disposable and Frequent/Planned/Extended Wear | |
| MARKET SEGMENTS (MATERIAL) | Silicone Hydrogel and Hydrogel | |
| MARKET SEGMENTS (APPLICATION) | Corrective Lenses, Therapeutic Lenses, and Cosmetic Lenses | |
| MARKET SEGMENTS (DISTRIBUTION) | Retail Optical Store, Hospitals & Ophthalmology Clinics, and Online Store | |
| MARKET SEGMENTS (DESIGN) | Spherical, Toric, and Multifocal | |
| GEOGRAPHIC ANALYSIS | North America, Europe, APAC, Latin America, and Middle East & Africa | |
| COUNTRIES COVERED | US, Canada, Japan, China, India, South Korea, Australia, Germany, France, United Kingdom, Spain, Italy, Brazil, Mexico, Argentina, Turkey, South Africa, Saudi Arabia, and UAE | |
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Premium contact lenses are designed for people who need a larger field of vision. They are more expensive than regular contact lenses. The increasing preference for premium contact lenses for aesthetic purposes is an emerging trend in the market.
To fulfill the demand for new premium contact lenses, many vendors are launching these contact lenses in developed countries. In 2022, Alcon launched DAILIES TOTAL 1 contact lenses. This product is focused on expanding its premium contact lenses portfolio in the global market. Similarly, the Cooper Companies’ Cooper Vision segment also launched Myday Daily Disposable multifocal contact lenses in the US, which is a new product in their premium contact lenses segment.
Key Offerings
- Market Size & Forecast by Revenue | 2022−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis of usage, material, application, distribution, design, and geography
- Competitive Landscape – 4 key vendors and 19 other prominent vendors
Market Segmentation Analysis
- Spherical disposable contact lenses dominated the market; however, the multifocal contact lenses market is expected to grow at a faster CAGR of 12.35%.
- Retail optical stores accounted for most of the market share. However, increased cell phone usage and better discounts on online platforms have increased the purchase of disposable contact lenses through online platforms.
- Corrective contact lenses conquered the market in 2021. Corrective contact lenses are used to improve vision and eliminate eye problems. The four most important eye disorders such as myopia, hyperopia, astigmatism, and presbyopia, demand disposable contact lenses as corrective measures. The usage of cosmetic contact lenses is growing at a faster rate of CAGR of 10.64% in the market.
- Silicone hydrogel material dominated the market and is expected to grow at a faster rate. Due to its increased benefits to the end-users and more preference by the eye care practitioners in the market.
Market Segmentation by Usage
- Daily Disposable
- Frequent/Planned/Extended Wear
Market Segmentation by Material
- Silicone Hydrogel
- Hydrogel
Market Segmentation by Application
- Corrective Lenses
- Therapeutic Lenses
- Cosmetic Lenses
Market Segmentation by Distribution
- Retail Optical Store
- Hospitals & Ophthalmology Clinics
- Online Store
Market Segmentation by Design
- Spherical
- Toric
- Multifocal
North America disposable contact lenses market is expected to reach $3.89 billion by 2027
The US is a major market in North America, followed by Canada. The high acceptance of disposable contact lenses, increasing awareness of eye care, and adoption of teleconsultation for eye care are some of the major factors driving the market. Numerous key vendors are targeting the US market to launch advanced contact lenses, thus driving the disposable contact lenses market in North America.
Market Segmentation by Geography
- North America
- US
- Canada
- APAC
- Japan
- China
- India
- South Korea
- Australia
- Europe
- Germany
- France
- United Kingdom
- Spain
- Italy
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- South Africa
- Saudi Arabia
- UAE
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Strategies Adopted by Players in the Disposable Contact Lenses Market
The disposable contact lenses market is highly consolidated, with the top four vendors accounting for dominating shares. Most of the top brands in the disposable contact lenses market are anticipated to hold the same position in the near future as they continue to show steady revenue growth. Large players are reducing the scope for new entrants.
Established vendors form strategic alliances and enter into co-marketing agreements to increase their competitiveness and market penetration. Vendors are also strategizing on establishing long-term partnerships with suppliers and distributors to increase their sales volume and geographical reach.
Key Vendors
- Johnson & Johnson
- Bausch+Lomb
- Alcon
- Cooper Companies
Other Prominent Vendors
- Aqualens
- BenQ Materials
- Bescon
- ClearLab
- CAMAX OPTICAL
- Clerio Vision
- Ginko International
- Hoya
- INTEROJO
- Maxvue Vision
- Menicon
- Neo Vision
- Oculus
- SEED
- SENSIMED
- St. Shine Optical
- UltraVision CLPL
- Visioneering Technologies
- ZEISS International
Explore our healthcare lifesciences profile to know more about the industry.
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