The Global Contact Lenses Market size is expected to reach $18 billion by 2024, rising at a market growth of 7.8% CAGR during the forecast period.
A contact lens is a thin lens placed on the surface of the eye. Contact lenses are worn to correct vision, or also used for cosmetic or therapeutic reasons. These lenses are coated with anti-refractive materials, scratch resistance materials, and ultraviolet protection materials to enhance the therapeutic benefits of lenses, and as a result, offer comfort to the user.
The growing aging population base and growing trend among youngsters to enhance their aesthetic appearance are the major factors that would drive the demand for contact lenses. Improving economy and growing disposable income are other factors that drive the market growth.
Based on the Product, the Contact Lenses market is segmented into Soft lens, RPG lens, and Hybrid lens. Based on the Design, the market is segmented into Spherical, Toric, Multifocal, and Others. The application segment covers, Corrective, Therapeutic, Cosmetic, Prosthetic, and Lifestyle-oriented. The report also covers geographical segmentation of Contact Lenses market. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Medical Optics, Alcon Laboratories, Bausch & Lomb, Carl Zeiss, X-Cel Specialty Contacts, Contamac, CooperVision, Eagle Optics, Essilor International, and HOYA CORPORATION.