Contact Lenses Market Forecast Report and Company Analysis 2025-2033 Featuring Bausch & Lomb, Alcon, Carl Zeiss Meditec, The Cooper Companies, Hoya, EssilorLuxottica, Menicon, and Seed (2025)

Dublin, March 11, 2025 (GLOBE NEWSWIRE) -- The "Contact Lenses Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.

The Contact Lenses Market is expected to reach US$ 16.18 billion in 2033 from US$ 10.15 billion in 2024, with a CAGR of 5.32% from 2025 to 2033

The market for contact lenses is expected to rise due in large part to factors such as growing consumer desire for convenience, the prevalence of refractive problems, lens technological developments, increased awareness of eye health, and the growing use of cosmetic lenses.

Growing demand for corrective vision solutions, convenience over spectacles, and growing awareness of eye health are some of the reasons driving the contact lens market. The enormous potential market for contact lens solutions is highlighted by the World Health Organization's October 2022 report, which states that 2.2 billion people worldwide suffer from near or distant vision impairment.

Adoption is further increased by improvements in comfort and oxygen permeability brought about by lens technological advancements like as silicone hydrogel materials. Increased demand is a result of the growing prevalence of refractive defects, especially myopia. Further propelling market expansion are the rising popularity of cosmetic lenses, including colored and trendy lenses, as well as the burgeoning online retail sector.

Growth Drivers for the Contact Lenses Market

Quick Developments in Technology:

The development of contact lenses has been significantly influenced by technological breakthroughs. For example, the creation of silicone hydrogel materials has resulted in lenses that are safer, more comfortable, and more breathable for prolonged use. Additionally, the advent of daily disposable lenses has decreased the risk of infection and simplified lens care procedures.

For instance, in Canada, Alcon introduced Precision, a disposable astigmatic contact lens in April 2022. As part of Alcon's ongoing effort to improve people's eyesight, the daily disposable silicone hydrogel (SiHy) contact lenses are made for astigmatic patients. Another technical advance is smart contact lenses, which are outfitted with sensors and microelectronics. With the ability to track health indicators like intraocular pressure in glaucoma patients or glucose levels in diabetics, these lenses could lead to new medical and consumer uses.

The emergence of the middle class in developing nations

A growing middle class with more disposable money is emerging in developing nations, particularly in Asia-Pacific and Latin America. Changes in lifestyle preferences, such as an increased emphasis in convenience and personal attractiveness, coincide with this socioeconomic transformation. Since contact lenses are regarded as more stylish and less noticeable than eyeglasses, they present an alluring substitute. Demand in these emerging nations is driven by the desire to adopt an active, modern lifestyle and the belief that contact lenses are a sign of sophistication.

Increasing Refractive Error Prevalence to Increase Lens Penetration

All age groups are affected by the common ocular condition known as refractive error, which is regarded as a public health concern. According to a number of studies and WHO publications, refractive errors result in vision loss and visual impairment. Globally, the proportion of people with vision impairment is rising due to an increase in myopia and presbyopia instances, primarily in children and adults.

About 2.2 billion individuals will be nearsighted in 2023, and another 1.0 billion will have severe or average visual impairment or blindness as a result of uncorrected refractive error, according to WHO estimates.

Additionally, the number of people using vision correction, including those who wear lenses, has increased globally as a result of growing efforts by national and regional government agencies as well as major industry participants to raise public knowledge of the benefits of vision correction.The market for contact lenses has grown as a result of these factors.

In 2023, CooperVision reported that there were approximately 45.0 million lens users in the United States alone. Additionally, statistics released by the NCBI indicates that 140.0 million people globally will be wearing glasses in 2023.

Challenges in the Contact Lenses Market