A contact lens is a corrective, cosmetic, or therapeutic lens, They are usually placed on the cornea of the eye. The purpose of these lenses is similar to that of the conventional glasses. Contact lenses are thin, lightweight, virtually invisible, do not steam up, provide a wider field of vision, and are more suitable for a number of sporting activities. When compared with spectacles, contact lenses typically provide better peripheral vision, and do not collect moisture (from rain, snow, condensation etc.) or perspiration.
The global contact lens market was rapidly growing in 2017, with increase in the eyewear producers, accelerating urban population and advancement of technology. The soft contact lens market maintained a positive growth in the global market due to increasing shift towards daily disposable income and prevalence of e-commerce. Although change in the attitudes towards eyeglasses and impact of digital lifestyle on contact lens usage would be a challenge for global contact lens market.
The Americas dominated the soft contact lens market with extensive production of efficient and quality production of contact lenses. The presence of large number of consumers using contact lenses in the U.S. led to significant growth of contact lens market. The market is further expected to grow in future due to increase in the eyewear spending by the consumers.
Johnson & Johnson, Bausch health companies, The cooper companies and Novartis are the key players in the global contact lens market. Advancement in research and development for efficient production would show promising development in the market. It would further increase the consolidation of market players in the market.