Contact Lens Market To Reach US$ 29,934.2 Million By 2027 - Coherent Market Insights

Contact Lens Market Report Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
SEATTLE - April 2, 2021 - PRLog -- Contact lenses can be primarily segmented as hard contact lenses and soft contact lenses. Hard contact lenses are made of stiff plastic, while soft contact lenses are made up of silicone hydrogel.


The global Contact Lens Market is estimated to account for US$ 13,478.5 Mn in terms of value by the end of 2019.

Global Contact Lens Market: Drivers

For instance, in November 2019, CooperVision received U.S. Food and Drug Administration (FDA) approval for its MiSight 1 day contact lens that is indicated to slow the progression of myopia in children 8-12 years old.

Global Contact Lens Market: Opportunities

Increasing awareness about vision care is expected to offer lucrative growth opportunities for players in the global contact lens market. For instance, in February 2020, Essilor Vision Foundation, through its Vote for Vision campaign, encouraged the populace to get an eye exam in 2020.

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Global Contact Lens Market: Restraints

High cost of contact lenses is expected to hinder growth of the global contact lens market. The contact lens market is price sensitive, where high cost of lenses results in a large number of consumers switching to alternate options. Lack of structured regulatory policies has led to high fluctuations in the final pricing of contact lenses, resulting in price wars between existing market players.

Market Trends

Increasing prevalence of vision impairment is expected to propel demand for contact lenses. For instance, according to World Health Organization (WHO), 2019, globally, at least 2.2 billion people have a vision impairment or blindness, of whom at least 1 billion have a vision impairment that could have been prevented or has yet to be addressed.

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Global Contact Lens Market: Key Developments

Major players in the global contact lens market are focused on conducting clinical trials to expand their product portfolio. For instance, in April 2019, Visioneering Technologies, Inc. released additional data regarding its patented NaturalVue Multifocal (etafilcon A) 1 Day Contact Lens.

Major players in the global contact lens market are also focused on product approval and launch to expand their product portfolio. For instance, in January 2019, SynergEyes, Inc. launched SimplifEyes 1 Day daily disposable lens with dual tangible polymers.

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