https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
Contact Lenses Market Demand Rise in Specialty
Sports Contact Lens Applications | 2032 Forecast
The contact lenses market includes corrective, cosmetic, and therapeutic lenses used to improve vision
and offer aesthetic benefits. Demand is driven by the rising prevalence of refractive errors, growing adoption
of advanced lens materials like silicone hydrogel, and increasing preference for daily disposable lenses due
to hygiene and convenience. Technological innovations, such as smart and hybrid lenses, along with the
expansion of online retail channels, are further supporting market growth. North America currently holds a
significant share, while Asia-Pacific is expected to witness the fastest growth due to increasing awareness of
eye health and higher disposable incomes.
According to Fortune Business Insights, the global contact lenses market was valued at USD 10.45 billion in
2023 and is projected to grow from USD 11.08 billion in 2024 to USD 18.30 billion by 2032, exhibiting a
compound annual growth rate (CAGR) of 6.5% during the forecast period. In 2023, North America
dominated the market with a 34.45% share.
Top Companies in the Market
Johnson & Johnson Vision Care, Inc. (U.S.)
Alcon (Switzerland)
The Cooper Companies Inc. (U.S.)
Menicon Co., Ltd. (Japan)
HOYA Corporation (Japan)
EssilorLuxottica (France)
Carl Zeiss Meditec AG (Germany)
Market Snapshot & Highlights
North America led the market in 2023, capturing a 34.45% share. The region’s high share is attributed to
increased awareness of vision correction options, growing refractive disorders, and a rising consumer
preference for advanced lens technologies.
Market Drivers
Multiple factors are fueling the market’s growth:
Demographic shifts: An aging global population elevates the need for eye-care solutions that
improve quality of life.
Vision impairments: A significant portion of the global population is affected—such as 153 million
with uncorrected refractive errors, 1.8 billion with presbyopia, and 65 million suffering from
cataracts.
Awareness & initiatives: Growing public awareness around eye health and supportive global
efforts—such as the UN’s “Vision for Everyone” initiative targeting 1.1 billion people with
preventable sight loss—are positively influencing market expansion.
Market Restraints
The COVID-19 pandemic severely hampered growth, forcing shutdowns of non-urgent care facilities,
suspending contact lens fittings, and causing consumers to favor eyeglasses due to hygiene concerns—
limiting contact lens adoption.
Market Competitive & Modality Landscape
Within the modality categories, the reusable segment maintains the largest market share as of 2023. This
is largely thanks to its cost-effectiveness, durability, and popularity among patients managing refractive
conditions such as astigmatism.
1. Market Analysis, Insights and Forecast – By Modality
1. Reusable
2. Disposable
2. Market Analysis, Insights and Forecast – By Design
1. Toric
2. Multifocal
3. Spherical
3. Market Analysis, Insights and Forecast – By Material
1. Soft
2. Gas Permeable
1. Orthokeratology
2. Scleral
3. Others
4. Market Analysis, Insights and Forecast – By Distribution Channel
1. Ophthalmologists
2. Retail Stores
3. Online Stores
5. Market Analysis, Insights and Forecast – By Region
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
Regional Insights
North America remains the dominant region, with the U.S. experiencing strong demand due to the
prevalence of refractive errors and growing awareness of daily disposable lenses.
In Europe, favorable regulatory frameworks and high market penetration in countries like those in
Scandinavia enable steady growth.
In China and other parts of Asia, increasing initiatives by global brands to raise lens usage awareness and
to address uncorrected vision impairments are driving demand upward.
Future Market Scope
The Contact Lenses Market is poised for robust growth, with a nearly twofold increase over nine years—from
USD 11.08 billion in 2024 to USD 18.30 billion by 2032—and a consistent CAGR of 6.5%.
Sustained public awareness of eye health, increased vision correction needs, evolving geriatric demand, and
favorable initiatives are expected to fuel adoption. Further, continued innovation in reusable and daily
lenses, regulatory support, and expansion in underpenetrated markets will be key success factors.
Comprehensive Market Coverage
The Fortune Business Insights report delivers a well-rounded analysis, covering market size estimates,
segmentation by modality (e.g., reusable vs. disposables), regional analysis, competitive dynamics, driving
and inhibiting factors, and future outlook through a detailed CAGR forecast.
Explore the full research report with detailed insights and
TOC:https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-
101775
Key Industry Development
A notable recent development in the industry is the October 2023 launch of Alcon’s TOTAL30
multifocal lenses for presbyopia patients. These lenses are being introduced in the U.S. and select
international markets.
Concluding Remarks
In summary, the Contact Lenses Market is on a compelling growth trajectory, steadily advancing from USD
10.45 billion in 2023 toward an estimated USD 18.30 billion by 2032, underpinned by a solid 6.5% CAGR.
Market expansion is driven by demographic changes, rising prevalence of refractive disorders, heightened
eye-care awareness, and key regulatory and global initiatives. While the aftermath of COVID-19 posed
challenges, the market is rebounding, with reusable lenses leading and increasing demand in North America,
Europe, and Asia. As new product innovations like Alcon’s TOTAL30 multifocal lens emerge, the market
outlook continues to shine brightly.
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