The disposable contact lens market is projected to reach $11.46 million by 2027. Cosmetic contact lenses are gaining momentum – Tips & Results

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The disposable contact lens market size was estimated at USD 6.73 million in 2021 and is set to grow at a CAGR of 9.27% ​​to reach USD 11.46 million by 2027.

CHICAGO, April 13, 2022 (GLOBE NEWSWIRE) — Changing lifestyles in high-income countries and increasing demand for new products are driving the growth of the disposable contact lens market, according to Arizton’s latest research report.

Cosmetic contact lenses are popular and convenient for correcting vision. Specialty or custom lenses are available, primarily used to correct blind or disfigured eyes, thereby improving appearance. Disposable cosmetic contact lenses are also used for travel and everyday use. The expansion of product offerings in the cosmetics segment will have a very positive impact on customers, which will help companies gain market share.

disposable contact lensesScope of the market report

REPORT ATTRIBUTES

DETAILS

MARKET SIZE (2027)

11.46 million

CAGR

9.27%

FASTEST GROWING REGION

APAC

REGION WITH THE LARGEST SHARE

North America

MARKET SEGMENTS (USE)

Daily disposables and frequent/planned/extended wear

MARKET SEGMENTS (MATERIAL)

Silicone hydrogel and hydrogel

MARKET SEGMENTS (APPLICATION)

corrective lenses, therapeutic lenses and cosmetic lenses

MARKET SEGMENTS (SALES)

Optical Retail Store, Hospital & Eye Clinic and Online Shop

MARKET SEGMENTS (DESIGN)

Spherical, toric and multifocal

GEOGRAPHICAL ANALYSIS

North America, Europe, APAC, Latin America, and Middle East & Africa

COUNTRIES COVERED

USA, Canada, Japan, China, India, South Korea, Australia, Germany, France, UK, Spain, Italy, Brazil, Mexico, Argentina, Turkey, South Africa, Saudi Arabia and United Arab Emirates

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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 meet the demand for new premium contact lenses, many suppliers are launching these contact lenses in developed countries. In 2022, Alcon launched the DAILIES TOTAL 1 contact lenses. This product is focused on expanding its premium contact lens portfolio in the global market. Similarly, the Cooper Vision segment of the Cooper Companies in the US also launched Myday Daily Disposable Multifocal contact lenses, a new product in their premium contact lens segment.

key offers

  • Market size and 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 major vendors and 19 other prominent vendors

Market Segmentation Analysis

  • Disposable spherical contact lenses dominated the market; However, the multifocal contact lens market is expected to grow at a faster CAGR of 12.35%.

  • Optical retail accounted for most of the market share. However, the increased use of mobile phones 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 major eye diseases such as myopia, hyperopia, astigmatism and presbyopia require disposable contact lenses as corrective measures. Cosmetic contact lens usage is growing in the market at a faster CAGR rate of 10.64%.

  • Silicone hydrogel material dominated the market and is expected to grow faster. Due to the increased benefits for the end users and the greater preference of the ophthalmologists in the market.

market Segmentation by use

market segmentation by material

  • silicone hydrogel

  • hydrogel

market segmentation by application

  • corrective lenses

  • Therapeutic lenses

  • cosmetic lenses

market segmentation by distribution

market segmentation by design

Disposable contact lenses from North Americait market is expected to reach $3.89 billion by 2027

The US is an important market in North America, followed by Canada. The high acceptance of disposable contact lenses, increasing eye care awareness and the adoption of eye care teleconsultation are some of the key factors driving the market. Numerous key players are targeting the US market to launch advanced contact lenses, thereby driving the disposable contact lens market in North America.

market Segmentation by geography

  • North America

  • APAC

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Europe

    • Germany

    • France

    • Great Britain

    • Spain

    • Italy

  • Latin America

  • Middle East & Africa

    • Turkey

    • South Africa

    • Saudi Arabia

    • UAE

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Strategies adopted by players in that disposable contact lens market

The disposable contact lens market is highly consolidated, with the four largest suppliers accounting for the dominant shares. Most of the top brands in the disposable contact lens market are expected to occupy the same position in the near future as they continue to show steady sales growth. Big players limit the scope for newcomers.
Established providers form strategic alliances and enter into co-marketing agreements in order to increase their competitiveness and market penetration. Vendors also plan to build long-term partnerships with suppliers and distributors to increase their sales volume and geographic reach.

key provider

  • Johnson&Johnson

  • Bausch+Lomb

  • Alcon

  • Cooper company

Other prominent providers

Explore our Healthcare Lifesciences profile to learn more about the industry.

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