The Global Contact Lenses Market is expected to register a CAGR of 5.70% to reach USD 12,330.46 Million by 2025.A contact lens is a thin curved lens, worn on the surface of the eyeball by people with compromised vision.
Some of the major factors characterizing the market growth are the increasing prevalence of visual impairments and eye disorders, and technological advancements in the field of ophthalmology.
Contact lenses are medical devices regulated by the US Food and Drug Administration (FDA), however, cosmetic and prescription contact lenses require to be prescribed The increasing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia is likely to drive the growth of the global contact lenses market during the forecast period.
For instance, according to the International Myopia Institute, the occurrence of myopia is growing rapidly and by 2050 almost 50% global population is expected to be myopic.
Moreover, changing lifestyle, and technological advancements are also anticipated to fuel the demand for contact lenses across the world, thereby supporting the market growth.SegmentationOn the basis of wear type, global contact lenses market has been classified into daily disposable lenses, disposable lenses, frequent replacement lenses, and conventional lenses.The global contact lenses market based on type has been divided into the corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens.
The corrective lens segment held a share of 43.2% in 2018.The global contact lenses market, by material, has been segregated into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others.By design, the market has been classified as spherical lens, toric lens, multifocal lens, and others.Regional AnalysisThe global contact lenses market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.The Americas dominates the global contact lenses market owing to the increasing population of contact lens wearers, growing prevalence of eye-related diseases, and the rising popularity of cosmetic lens among the youth.
The Global Contact Lenses Market is expected to register a CAGR of 5.70% to reach USD 12,330.46 Million by 2025.A contact lens is a thin curved lens, worn on the surface of the eyeball by people with compromised vision.
Some of the major factors characterizing the market growth are the increasing prevalence of visual impairments and eye disorders, and technological advancements in the field of ophthalmology.
Contact lenses are medical devices regulated by the US Food and Drug Administration (FDA), however, cosmetic and prescription contact lenses require to be prescribed The increasing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia is likely to drive the growth of the global contact lenses market during the forecast period.
For instance, according to the International Myopia Institute, the occurrence of myopia is growing rapidly and by 2050 almost 50% global population is expected to be myopic.
Moreover, changing lifestyle, and technological advancements are also anticipated to fuel the demand for contact lenses across the world, thereby supporting the market growth.SegmentationOn the basis of wear type, global contact lenses market has been classified into daily disposable lenses, disposable lenses, frequent replacement lenses, and conventional lenses.The global contact lenses market based on type has been divided into the corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens.
The corrective lens segment held a share of 43.2% in 2018.The global contact lenses market, by material, has been segregated into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others.By design, the market has been classified as spherical lens, toric lens, multifocal lens, and others.Regional AnalysisThe global contact lenses market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.The Americas dominates the global contact lenses market owing to the increasing population of contact lens wearers, growing prevalence of eye-related diseases, and the rising popularity of cosmetic lens among the youth.