The contact lenses market continues to grow due to increasing cases of vision disorders and the rising preference for non-invasive, convenient alternatives to eyeglasses. These lenses are used for both corrective and cosmetic purposes and are available in various types, including soft, rigid gas permeable, daily disposable, and extended-wear options. Technological advancements have led to the development of lenses offering enhanced oxygen permeability and comfort. Additionally, the popularity of colored and aesthetic lenses is expanding the consumer base. Growing awareness of eye care, rising screen time, and the convenience of online purchase platforms are expected to fuel market demand globally.
According to Fortune Business Insights, the global contact lenses market size was valued at USD 10.45 billion in 2023. It is projected to grow from USD 11.08 billion in 2024 to USD 18.30 billion by 2032, exhibiting a CAGR of 6.5% during the forecast period. North America dominated the contact lenses market with a market share of 34.45% in 2023.
🌟 Leading Companies Shaping 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)
Key Industry Development: October 2023
Alcon introduced the TOTAL30 multifocal lenses, designed to help patients with presbyopia. Available in the U.S. and international markets, these lenses promise improved comfort and clarity for users with age-related vision loss.
Market Drivers & Restraints
🎯 Drivers of Market Growth
- Surge in Refractive Disorders: Nearly 2 billion people suffer from vision impairment globally, with refractive errors like myopia, hyperopia, astigmatism, and presbyopia on the rise.
- Aging Population: As people age, presbyopia becomes more common. With 1.8 billion affected worldwide, demand for multifocal lenses is surging.
- Daily Disposable Popularity: Daily disposables are gaining traction due to convenience and hygiene, spurring demand and development.
- Technological Breakthroughs: New materials, like silicone hydrogel, and smart lens designs improve comfort and long-term wearability.
- Government & NGO Initiatives: Campaigns like the United Nations’ “Vision for Everyone” aim to reduce preventable vision impairment for over 1.1 billion people.
⚠️ Restraints & Market Limitations
- Alternative Treatments: Laser surgeries (e.g., LASIK, SMILE) and implantable lenses offer permanent solutions, which could limit long-term contact lens adoption.
- Usage Discomfort & Health Risks: Extended wear can cause corneal issues, infections, and red-eye—factors that may deter some users.
Market Report Coverage & Segmentation
The Fortune report analyzes the market by:
- Modality: Reusable vs. Disposable lenses
- Material: Soft, gas-permeable (orthokeratology, scleral), others
- Design: Spherical, toric, multifocal lenses
- Distribution Channels: Ophthalmologists, retail stores, and online platforms
- Geographic Regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Modality Insights: Reusable vs. Disposable
Reusable lenses dominate the market due to durability, lower cost per use, and preference among astigmatism patients (~40% adult prevalence) .
Disposable lenses are the fastest-growing segment, driven by better hygiene, convenience, and frequent technological upgrades such as silicone hydrogel daily disposables .
Design Preferences
- Spherical Lenses: Most common due to adaptability for myopia and hyperopia and ease of fitting.
- Toric Lenses: Surge in usage tied to astigmatism correction needs and are seeing rising product availability.
- Multifocal Lenses: Significant growth seen in recent years, particularly for presbyopia—highlighted by Alcon’s 2023 TOTAL30 launch.
Material Breakdown: Soft vs. Gas-Permeable
Soft lenses represent the majority, appreciated for comfort and ease of use. New product launches like Bausch + Lomb’s silicone hydrogel daily disposables reinforce this trend.
Gas-permeable lenses (GP, orthokeratology, scleral) are the fastest-growing category, offering higher oxygen transmissibility and better suitability for complex vision needs.
Channel Analysis: Where Consumers Shop
- Retail Stores: Lead in revenues with easy access and broad brand availability. Partnerships (e.g. Menicon’s acquisition in Osaka) have boosted reach .
- Ophthalmologists: Second in share, as patients seek professional fittings and clinical advice .
- Online Stores: Fastest-growing channel, aided by regulatory clarity and pandemic-induced e-commerce adoption (~14% spike in eyewear online sales) .
Regional Highlights
North America
Largest region with revenues at USD 3.60 billion in 2023, driven by high refractive error rates (~150 million Americans) and well-established eye care systems.
Europe
Strong market share supported by regulatory updates such as EU MDR UDI implementation and high lens adoption rates in countries like Sweden, Denmark, and Norway.
Asia-Pacific
Fastest growing region thanks to increasing disposable income, growing urbanization, rising refractive error prevalence, and campaigns like Johnson & Johnson’s “Vision Made Possible” in India.
Latin America & MEA
These regions are experiencing steady growth due to rising awareness and improved availability of vision correction solutions—aided by ~1.7 million prescription lens users in the Gulf region.
Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
Future Outlook
From 2024 to 2032, growth is expected to continue unabated—reaching USD 18.30 billion due to volume expansion and rising adoption of premium lenses. Technology, consumer preferences, and regulatory support will shape the future landscape.
Key trends to watch: rising use of daily disposables and silicone hydrogel lenses, expanded multifocal and toric options, digital sales channels, and increased global awareness via public health campaigns.
Conclusion
The contact lenses market is on track for sustained growth, driven by demographic shifts, refractive error increases, product innovation, and changing consumer habits. With revenues expected to reach USD 18.30 billion by 2032 and a strong 6.5% CAGR, there’s ample opportunity for market leaders and innovators to enhance vision care worldwide.
About Us:
Fortune Business Insights provides expert corporate analysis and accurate data, enabling businesses of all sizes to make timely decisions. We offer customized solutions tailored to each client’s needs, helping them address unique challenges. Our goal is to empower clients with holistic market intelligence and offer granular insights into the market they operate in.
Contact us:
Fortune Business Insights™ Pvt.
Phone: USA: +1 833 909 2966 (Toll-Free),
United Kingdom: +44 808 502 0280 (Toll-Free),
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
