Global Corrective Contact Lenses Market Size, Share and Trends Analysis Report, By Type (Divergent Lens and Convergent Lens), and By Application (Beauty and Vision Correction) Forecast Period (2022-2028)

The global Corrective Contact Lenses market is anticipated to grow at a 4.9 % CAGR during the forecast period (2022-2028). Soft contact lenses are corrective lenses made of soft, water-absorbing, flexible, and translucent polymers (hydrogels) with a high amount of plasticizer. These lenses are much more flexible than hard contact lenses and can be easily molded into the desired shapes. In addition, the comfort and convenience provided by soft contact lenses, as well as the growing geriatric population, accelerate the growth of soft contact lens demand during the forecast period. The high cost of these lenses is expected to limit the market’s growth during the forecast period.

The increased use of electronic devices such as television and computers coupled with the rising preference for contact lenses over prescription eyeglasses, is the key factors driving the market growth. The increase in awareness through social media marketing, the rising prevalence of eye disorders in the population, are the further factors expected to accelerate the market growth over the forecast period.

However, the availability of other ophthalmology devices and corrective procedures such as laser and photorefractive keratectomy (PRK) is the rising side effects of contact lenses such as eye infections and corneal ulcers, which is expected to hinder the market growth over the forecast period. The disruption in the supply chain caused by COVID-19 has significantly hampered the market growth. Furthermore, untapped emerging markets and innovative product launches by numerous market players across the globe create long-term growth opportunities. For instance, in March 2021, Johnson & Johnson Vision announced approval from the Japanese Ministry of Health, Labour and Welfare (MHLW) for the first and only vision correction contact lens that relieves allergic eye itch: ACUVUE Theravision with Ketotifen. The lens contains ketotifen, an H1 histamine receptor antagonist for the prevention of itch associated with eye allergies.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- CooperVision, Johnson and Johnson, Bausch Health Companies, Inc., Novartis International AG, Corning, and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Corrective Contact Lenses Market Report by Segment

By Type

• Divergent Lens
• Convergent Lens

By Application

• Beauty
• Vision Correction

Global Corrective Contact Lenses Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa