Disposable Contact Lenses Market Size is valued at 6.6 Bn in 2022 and is predicted to reach 14.9 Bn by the year 2031 at a 9.63 % CAGR during the forecast period for 2023-2031.
Disposable contact lenses can be used for a day to a few weeks and can be disposed of at the end of their usage period. These lenses are comfortable, safe, and a better choice for people with dry eyes or allergies. People are less prone to eye infections with daily disposable contact lenses.
Factors driving the growth of the disposable contact lenses market include the rising number of people with visual impairments, high demand for disposable contact lenses, growing specialized and innovative contact lenses, availability of technologically improved disposable contact lenses, rising awareness about vision correction, and the increasing use of cosmetic disposable contact lenses. Moreover, companies operating in this market are investing in research and innovations of technologically advanced, safe and comfortable contact lenses to reduce the risk of eye complications. Thus, it is expected to create development opportunities for the disposable contact lenses market.
However, the complications associated with disposable contact lenses and the strict government policies and regulations for product approval may hamper the market growth in the coming future.
Market Segmentation:
The disposable contact lenses market is classified based on material, usage, application, distribution, design, and region. Based on the material, the market comprises silicone hydrogel and hydrogel. The market is segmented into daily disposable and frequent/planned/extended wear by usage. The application segment is divided into corrective, therapeutic, and cosmetic lenses.
The corrective lenses segment is predicted to maintain a significant market share over the forecast period due to the high demand for corrective lenses by digital device users. The market is bifurcated into retail optical stores, hospitals & ophthalmology clinics, and online stores in terms of distribution. The market is classified by design into spherical, toric, and multifocal. The toric and multifocal segments are anticipated to expand at the fastest rate during the estimated timeframe. Regionally, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Regional Analysis:
North America is likely to hold the highest share of the disposable contact lenses market during the forecast period due to the rising number of contact lens manufacturers and the fast adoption of disposable lenses.
Some key players operating in the disposable contact lenses market are Johnson & Johnson, Bausch+Lomb, Alcon, CooperVision, Hoya Corporation, Novartis International AG, SynergEyes, Zeiss Group, and others.
Competitive Landscape
Some Major Key Players In The Disposable Contact Lenses Market:
- Alcon Company
- Bausch Health Companies Inc.
- Bausch+Lomb
- CooperVision
- Hoya Corporation
- Johnson & Johnson
- Novartis International AG
- SynergEyes
- The Cooper Companies Inc.
- ZEISS International
- Other Prominent Players
Disposable Contact Lenses Market Market Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 6.6 Bn |
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Revenue Forecast In 2031 |
USD 14.9 Bn |
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Growth Rate CAGR |
CAGR of 9.63% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Material, Usage, Application, Distribution, Design |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Johnson & Johnson, Bausch+Lomb, Alcon, CooperVision, Hoya Corporation, Novartis International AG, SynergEyes, Zeiss Group, and others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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