Contact Lenses Market Size Set to Hit USD 43.85 Bn by 2033
The global contact lenses market size was valued at USD 18.64 billion in 2023 and it is predicted to surpass around USD 43.85 billion by 2033 with a CAGR of 8.93% from 2024 to 2033.
The growth of the contact lenses market is driven by an advancement in technology have led to the development of innovative contact lens materials and designs, enhancing comfort, breathability, and vision correction capabilities. Additionally, increasing prevalence of vision-related disorders, such as myopia and astigmatism, across all age groups drives the demand for corrective measures like contact lenses. Furthermore, rising consumer awareness about the convenience and aesthetic appeal of contact lenses, compared to traditional eyeglasses, is expanding the addressable market. Moreover, the growing trend towards daily disposable lenses, driven by concerns over hygiene and convenience, is driving market growth.
| Report Coverage | Details |
| Revenue Share of North America in 2023 | 40% |
| CAGR of Asia Pacific from 2024 to 2033 | 12.08% |
| Revenue Forecast by 2033 | USD 43.85 billion |
| Growth Rate from 2024 to 2033 | CAGR of 8.93% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
The silicone hydrogel lens segment accounted for the largest revenue share of more than 90% in 2023 owing to increasing user preference as they offer a wide range of benefits, including greater comfort and flexibility than other lenses. They provide greater comfort and an optimum level of oxygen, ensuring that the lenses remain breathable throughout their wearing cycle. Silicone hydrogel lenses can be worn for longer periods with high comfort, which is beneficial for users who spend long hours of the day looking at a screen, are easily susceptible to dry eyes, and have active lifestyles.
The hybrid lenses segment is estimated to register a growth rate of over 12.05% from 2024 to 2033 due to the increasing demand among patients with astigmatism and keratoconus. A hybrid lens is a combination of gas-permeable and silicone hydrogel. It comprises an RGP central zone with a soft peripheral of soft or silicone hydrogel material. Moreover, they retain their shape better than soft contact lenses, providing sharp and consistent vision. Hybrid contact lenses also disinfect easily, are easier to manage, less prone to dehydration, and last longer than soft lenses.
The spherical lens segment captured the largest revenue share of over 63% in 2023. Spherical contact lenses are most commonly used for treating hyperopia (farsightedness), myopia (nearsightedness), and presbyopia (age-related farsightedness). They are widely available and come in a variety of prescriptions. Moreover, they are comfortable to wear as they can easily settle into the correct position on the eye. Unlike their counterparts, spherical lenses have the same optical power throughout each lens, which instigates their demand among the users.
The toric lenses segment is estimated to observe a CAGR of over 11.04% over the forecast period. These lenses are used to correct astigmatism problems that arise from a variation in the cornea's curvature. Moreover, toric lenses provide protection from blue light, especially coming from digital devices, which progressively damages the eyes. They also protect eyes from the light that comes from fluorescent light bulbs and ultraviolet sun rays and hence aid in avoiding other degenerative eye diseases.
The corrective lens segment accounted for the largest revenue share of more than 47% in 2023 and is anticipated to record substantial growth over the forecast period. These lenses offer several advantages over conventional eyeglasses. As they fix directly on the eye surface, they offer a natural field of view without obstructions. They are effective in correcting vision for patients with nearsightedness, farsightedness, presbyopia, and astigmatism. Some of the recognized corrective lenses are multifocal, bifocal, toric, and spherical.
The cosmetic segment is estimated to record a CAGR of over 9.05% from 2024 to 2033 due to the increasing popularity of these lenses, especially among the young population. They are available in a variety of unique designs and colors providing users with several options as per their outfits, accessories, and a particular event. Some cosmetic lenses are available in natural colors for a subtle look, while others come in dramatic and fantasy-based designs. In April 2023, Johnson & Johnson Vision launched its latest range of colored contact lenses BUBBLE POP designed to meet the growing trend of makeovers among the youth population in India.
The retail segment accounted for the largest revenue share of more than 62% in 2023. Several customers prefer buying from retail stores as they offer immediate access and quicken the purchase decision. The eye-care professionals at these stores offer personalized prescription services according to the customers' vision needs. The segmental growth can be credited to the ongoing initiatives by the manufacturers to produce advanced products at very affordable prices at retail stores, which are again combined with extra discounts offered by retail sellers.
Moreover, the rapid growth of retail pharmacies in developed countries is contributing to the market growth. The e-commerce segment is expected to record a CAGR of over 10.06% from 2024 to 2033 with increasing consumer preference for online purchases. E-commerce portals help consumers view and compare a wide range of brands and buy products at competitive prices. Moreover, these platforms provide attractive discounts and offers that attract customers to this distribution channel. In addition, they offer faster delivery which, in turn, is driving the segmental growth.
The daily disposable lens segment held the largest revenue share of more than 35% in 2023. This can be credited to the increased consumer preference for daily disposable lenses as they provide greater comfort to the user. Moreover, these lenses are considered healthiest by most users and are being increasingly prescribed by eye care professionals as they avoid problems associated with longer lens replacements. Hence, many players have initiated the development of daily disposable lenses.
Daily disposable lens is a soft and flexible plastic material widely used by individuals involved in sports activities or leading an active lifestyle. They also offer various health benefits as a fresh pair of contact lenses is used every day, which makes them less likely to cause irritation, infections, itchiness, etc. by preventing the accumulation of proteins, lipids, or bacteria.
North America accounted for the largest share of over 40% in 2023 and is expected to grow significantly over the coming years. The higher penetration of contact lenses in the region is urging researchers and companies to explore the diverse application of contact lenses through continuous innovation in products. For instance, in March 2023, CooperVision launched CooperVision MyDay Energys one-day lenses in the U.S. It combines DigitalBoost and Aquaform technologies to deliver greater comfort to patients with pervasive digital eye strain.
Asia Pacific is estimated to record a CAGR of 12.08% from 2024 to 2033 with increasing product adoption in countries, such as China, India, and Japan. This can be credited to the growing awareness among consumers about health, rising disposable incomes, and the availability of innovative products from brands across the globe. Moreover, favorable government initiatives are also driving the product demand in the region. In 2021, the Japanese Ministry of Health, Labour and Welfare announced its approval for the combination contact lens that facilitates vision correction and the antihistamine drug ACUVUE Thera vision with Ketotifen to address itchy allergy eyes.
By Material
By Design
By Application
By Distribution Channel
By Usage
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Contact Lenses Market
5.1. COVID-19 Landscape: Contact Lenses Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Contact Lenses Market, By Material
8.1. Contact Lenses Market, by Material, 2024-2033
8.1.1. Gas Permeable
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Silicone Hydrogel
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Hybrid
8.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Contact Lenses Market, By Design
9.1. Contact Lenses Market, by Design, 2024-2033
9.1.1. Spherical Lens
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Toric Lens
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Multifocal Lens
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Others Lens
9.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Contact Lenses Market, By Application
10.1. Contact Lenses Market, by Application, 2024-2033
10.1.1. Corrective
10.1.1.1. Market Revenue and Forecast (2021-2033)
10.1.2. Therapeutic
10.1.2.1. Market Revenue and Forecast (2021-2033)
10.1.3. Cosmetic
10.1.3.1. Market Revenue and Forecast (2021-2033)
10.1.4. Prosthetic
10.1.4.1. Market Revenue and Forecast (2021-2033)
10.1.5. Lifestyle-oriented
10.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 11. Global Contact Lenses Market, By Distribution Channel
11.1. Contact Lenses Market, by Distribution Channel, 2024-2033
11.1.1. E-commerce
11.1.1.1. Market Revenue and Forecast (2021-2033)
11.1.2. Eye Care Professionals
11.1.2.1. Market Revenue and Forecast (2021-2033)
11.1.3. Retail
11.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 12. Global Contact Lenses Market, By Usage
12.1. Contact Lenses Market, by Usage, 2024-2033
12.1.1. Daily Disposable
12.1.1.1. Market Revenue and Forecast (2021-2033)
12.1.2. Disposable
12.1.2.1. Market Revenue and Forecast (2021-2033)
12.1.3. Frequently Disposable
12.1.3.1. Market Revenue and Forecast (2021-2033)
12.1.4. Traditional (Reusable) Lenses
12.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 13. Global Contact Lenses Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Material (2021-2033)
13.1.2. Market Revenue and Forecast, by Design (2021-2033)
13.1.3. Market Revenue and Forecast, by Application (2021-2033)
13.1.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.1.5. Market Revenue and Forecast, by Usage (2021-2033)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Material (2021-2033)
13.1.6.2. Market Revenue and Forecast, by Design (2021-2033)
13.1.6.3. Market Revenue and Forecast, by Application (2021-2033)
13.1.6.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.1.7. Market Revenue and Forecast, by Usage (2021-2033)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Material (2021-2033)
13.1.8.2. Market Revenue and Forecast, by Design (2021-2033)
13.1.8.3. Market Revenue and Forecast, by Application (2021-2033)
13.1.8.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.1.8.5. Market Revenue and Forecast, by Usage (2021-2033)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Material (2021-2033)
13.2.2. Market Revenue and Forecast, by Design (2021-2033)
13.2.3. Market Revenue and Forecast, by Application (2021-2033)
13.2.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.2.5. Market Revenue and Forecast, by Usage (2021-2033)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Material (2021-2033)
13.2.6.2. Market Revenue and Forecast, by Design (2021-2033)
13.2.6.3. Market Revenue and Forecast, by Application (2021-2033)
13.2.7. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.2.8. Market Revenue and Forecast, by Usage (2021-2033)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Material (2021-2033)
13.2.9.2. Market Revenue and Forecast, by Design (2021-2033)
13.2.9.3. Market Revenue and Forecast, by Application (2021-2033)
13.2.10. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.2.11. Market Revenue and Forecast, by Usage (2021-2033)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Material (2021-2033)
13.2.12.2. Market Revenue and Forecast, by Design (2021-2033)
13.2.12.3. Market Revenue and Forecast, by Application (2021-2033)
13.2.12.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.2.13. Market Revenue and Forecast, by Usage (2021-2033)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Material (2021-2033)
13.2.14.2. Market Revenue and Forecast, by Design (2021-2033)
13.2.14.3. Market Revenue and Forecast, by Application (2021-2033)
13.2.14.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.2.15. Market Revenue and Forecast, by Usage (2021-2033)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Material (2021-2033)
13.3.2. Market Revenue and Forecast, by Design (2021-2033)
13.3.3. Market Revenue and Forecast, by Application (2021-2033)
13.3.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.3.5. Market Revenue and Forecast, by Usage (2021-2033)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Material (2021-2033)
13.3.6.2. Market Revenue and Forecast, by Design (2021-2033)
13.3.6.3. Market Revenue and Forecast, by Application (2021-2033)
13.3.6.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.3.7. Market Revenue and Forecast, by Usage (2021-2033)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Material (2021-2033)
13.3.8.2. Market Revenue and Forecast, by Design (2021-2033)
13.3.8.3. Market Revenue and Forecast, by Application (2021-2033)
13.3.8.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.3.9. Market Revenue and Forecast, by Usage (2021-2033)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Material (2021-2033)
13.3.10.2. Market Revenue and Forecast, by Design (2021-2033)
13.3.10.3. Market Revenue and Forecast, by Application (2021-2033)
13.3.10.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.3.10.5. Market Revenue and Forecast, by Usage (2021-2033)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Material (2021-2033)
13.3.11.2. Market Revenue and Forecast, by Design (2021-2033)
13.3.11.3. Market Revenue and Forecast, by Application (2021-2033)
13.3.11.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.3.11.5. Market Revenue and Forecast, by Usage (2021-2033)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Material (2021-2033)
13.4.2. Market Revenue and Forecast, by Design (2021-2033)
13.4.3. Market Revenue and Forecast, by Application (2021-2033)
13.4.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.4.5. Market Revenue and Forecast, by Usage (2021-2033)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Material (2021-2033)
13.4.6.2. Market Revenue and Forecast, by Design (2021-2033)
13.4.6.3. Market Revenue and Forecast, by Application (2021-2033)
13.4.6.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.4.7. Market Revenue and Forecast, by Usage (2021-2033)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Material (2021-2033)
13.4.8.2. Market Revenue and Forecast, by Design (2021-2033)
13.4.8.3. Market Revenue and Forecast, by Application (2021-2033)
13.4.8.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.4.9. Market Revenue and Forecast, by Usage (2021-2033)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Material (2021-2033)
13.4.10.2. Market Revenue and Forecast, by Design (2021-2033)
13.4.10.3. Market Revenue and Forecast, by Application (2021-2033)
13.4.10.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.4.10.5. Market Revenue and Forecast, by Usage (2021-2033)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Material (2021-2033)
13.4.11.2. Market Revenue and Forecast, by Design (2021-2033)
13.4.11.3. Market Revenue and Forecast, by Application (2021-2033)
13.4.11.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.4.11.5. Market Revenue and Forecast, by Usage (2021-2033)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Material (2021-2033)
13.5.2. Market Revenue and Forecast, by Design (2021-2033)
13.5.3. Market Revenue and Forecast, by Application (2021-2033)
13.5.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.5.5. Market Revenue and Forecast, by Usage (2021-2033)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Material (2021-2033)
13.5.6.2. Market Revenue and Forecast, by Design (2021-2033)
13.5.6.3. Market Revenue and Forecast, by Application (2021-2033)
13.5.6.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.5.7. Market Revenue and Forecast, by Usage (2021-2033)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Material (2021-2033)
13.5.8.2. Market Revenue and Forecast, by Design (2021-2033)
13.5.8.3. Market Revenue and Forecast, by Application (2021-2033)
13.5.8.4. Market Revenue and Forecast, by Distribution Channel (2021-2033)
13.5.8.5. Market Revenue and Forecast, by Usage (2021-2033)
Chapter 14. Company Profiles
14.1. Alcon Vision LLC
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Bausch & Lomb, Inc.
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. ZEISS International
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Contamac
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. CooperVision, Inc.
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Essilor International S.A002E
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Hoya Corp.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Johnson & Johnson Vision Care, Inc.
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Medennium
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Seed Co., Ltd.
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers