Contact Lenses Market Report

Contact Lenses Market Analysis By Product Type (RPG, Soft, Hybrid), By Design Type (Spherical, Toric, Multifocal & Others), By Usage Type (Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle-oriented), By Region, And Segment Forecasts, 2014 - 2024

Published: January 2017  |  85 Pages  |  Format: PDF  |  Report ID: 978-1-68038-094-1

Industry Insights

The global contact lenses market size was valued at USD 8.95 billion in 2015 and is expected to retain its growth pace over the forecast period. The contact lens dynamic product segments can be categorized as RPG, soft and hybrid lens. Corrective contact lens is used to a large extent in order to correct refractive errors and compensate for visual deficiencies such as myopia, hypermetropia/hyperopia, presbyopia and astigmatism. As a result, growing number of visual inaccuracies is expected to drive the global market over the forecast period.

Industry participants enter long term partnerships to strengthen their product portfolio and geographical presence. For instance, In February 2016, In Europe, Essilor International S.A. had acquired Vision Direct Group Ltd, one of Europe’s prime online retailers to strengthen its online optical products retailing business.

U.S. contact lenses market by usage type, 2014 - 2024 (USD Billion)

U.S. contact lenses market

Exclusive relationships may exist between manufacturers and sellers which either prohibit a retailer from carrying competing manufacturers’ products or prohibit manufacturers from selling to competing retailers. Some manufacturers limit the retail distribution of their lenses to outlets offering eye care service. Majority of the products are sold under their national brand name although some manufacturers distribute their lenses to retailers and Eye Care Professionals (ECPs) under private brand names.

Design Insights

The contact lenses industry is segmented on the basis of design into spherical lens, toric lens, multifocal lens and others type of lens which include orthokeratology or ortho-k lenses. Multifocal lenses segment is expected to witness increased demand mainly due to their ability of incorporating multiple prescriptions in one lens. They are primarily useful for age-related ophthalmic disorders such as presbyopia.

Spherical design type lens segment is anticipated to be one of the leading industry segment over the forecast period. This segment was estimated to have 73.6% of the overall industry share in 2015.

Usage Insights

Market segmentation on the basis of usage includes therapeutic, cosmetic, prosthetic, lifestyle-oriented, and corrective. Cosmetic technology segment is anticipated to be one of the leading industry segment’s with over 10.7% of the overall industry share in 2015.

The contact lenses industry is segmented on the basis of usage into corrective, therapeutic, cosmetic, prosthetic, and lifestyle-oriented contact lenses. Therapeutic applications accounted for major portion of the total market share in 2015 and are expected to lose market share over the forecast period. Cosmetic applications are expected to gain prominence by 2024.

Product Insights

The market for hybrid lens is expected to witness significant growth over the forecast period. A hybrid lens is a combination of rigid gas permeable (RGP) and soft lens. It consists of an RGP central zone surrounded by a soft peripheral skirt made up of soft or silicone hydrogle material. It provides the wearing comfort of a soft lens, combined with the visual clarity of RGP lens. Increased usage by people suffering from astigmatism and keratoconus, owing to hybrid lenses being the most preferred option, is expected to favorably impact market growth.

Contact lenses market by product type, 2015 (USD Million)

Contact lenses market

Soft contact lenses offer numerous advantages over their RGP lens counterparts such as greater flexibility and comfort. They are used extensively for ametropia correction and also permit extra oxygen to pass through to the wearer’s cornea.

Regional Insights

Cosmetic lens industry is anticipated to spectate colossal growth opportunities on account of surging demand to enhance improve aesthetic appeal of eyes. Japan regional market is expected to witness immense growth prospects in cosmetic lenses segment, that can be attributed to the attributed of circle lenses that are specifically designed to make eyes appear large as they conceal the white part of eyes along with the iris.

Mainstream contact lens manufacturing is undertaken in Asia region, alongside these products have made inroads in the U.S. as well. Cosmetic lenses trend is expected to continue through the forecast period, and is stimulated by increasing usage of cosmetic lenses in the media and entertainment sector.

Competitive Insights

The key industry participants are Johnson & Johnson Services, Inc., CIBA Vision (Alcon), CooperVision, Inc., and Bausch & Lomb Incorporated. The industry is perceiving growing market consolidation through strategic initiatives such as alliances, mergers, and acquisitions. This is primarily due to the brand value and loyalty base accrued by them, along with the establishment of a global presence.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Rest of World (ROW)

Country scope

U.S., Canada, Mexico, UK, Germany, Japan, China

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope(equivalent to 5 analyst working days)

If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the contact lenses market on the basis of product, design type, usage type and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2024)

    • RPG lens

    • Soft lens

    • Hybrid lens

  • Design Outlook (Revenue, USD Million; 2014 - 2024)

    • Spherical

    • Toric

    • Multifocal

    • Others

  • Usage Outlook (Revenue, USD Million; 2014 - 2024)

    • Corrective

    • Therapeutic

    • Cosmetic

    • Prosthetic

    • Lifestyle-oriented

  • Regional Outlook (Revenue, USD Million; 2014 - 2024)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Rest of World (ROW)

Request Sample
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA