Contact Lenses Market Volume, Demand ,Trends, Investments, Challenges and Key Vendors 2022 – 2031 - Digital Journal

2022-07-15 23:16:07 By : Ms. Rebecca Lai

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Rising numbers of people with myopia in numerous regions across the world and substantial burden of vision impairment from uncorrected presbyopia in worldwide populations have been proportionately augmenting the numbers of contact lens wearers, observes a new study on the contact lens market. The global contact lenses market is projected to garner a CAGR of 5.6% from 2022 to 2031 and reach worth of US$ 14.5 bn by 2031, reveals the study by Transparency Market Research (TMR). The valuation of the market was pegged at US$ 8.6 bn in 2021.

Key Findings of the Market Study

Contact Lenses Market: Key Driving Factors

According to the in-depth assessment of the growth dynamics shaping demands in the contact lens market, growing socio-economic burden of uncorrected refractive error is a key aspect. The marked prevalence of myopia, hyperopia, and astigmatism in various key regions of the world is bolstering demand for ocular prosthetic devices, catalyzing the market prospects. The following statistics points to several lucrative avenues for players in the contact lenses market.

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Key Impediments to Contact Lenses Market Players

The report on the contact lens market asserts that the number of contact lens wearers is unarguably growing; however, numerous factors have impeded the penetration of new contact lens technologies.

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Contact Lenses Market: Region-wise Analysis

Among the various geographies, North America has been holding the major share in the global contact lens for some time now. Constant advancements in materials and the growing awareness of the role of ocular prosthesis to correct refractive errors in the regional populations have catalyzed prospects.

Two persistent leanings of manufacturers in the contact lens market are on testing new materials and surface modification processes to improve the wettability characteristics. A key example is silicone hydrogel. Few aspiring players are betting on artificial intelligence and micro-optics to develop the next-generation of smart contact lens. Such developments will enable players to redefine the contours of the technological landscape in the next ten years. In coming years, contact lens may serve as biomarkers to intraocular pressure, glaucoma, and diabetes mellitus. Further, a growing numbers of contact lens manufacturers are adopting cutting-edge techniques, such as based on electronics miniaturization, to unveil better technologies.

Names of few who are at the forefront of such technology developments in the contact lens market are Menicon Co. Ltd, BenQ Materials Corporation, Hoya Vision Care Company, Johnson & Johnson Vision Care, Inc., Alcon, and Bausch & Lomb.

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The contact lenses market is segmented on the basis of:

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About Transparency Market Research 

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information. 

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. 

For More Research Insights on Leading Industries, Visit our YouTube channel –

Transparency Market Research Inc. 

Suite 1200, Wilmington, Delaware 19801 USA 

Tel: +1-518-618-1030 

USA – Canada Toll Free: 866-552-3453 



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