Contact lenses market will be worth 10.75 billion US dollars by 2027. Now they have become the go to option for sports & water activities. U.S. is dominating the contact lenses market currently. People can find good, yet cheap colored contacts almost everywhere in the country. Demand for contact lenses in Asia Pacific is expected to rise in the coming years. Companies are introducing new advanced techniques to make contact lenses to be more user friendly by coming up with shapes, colours and weather friendly lenses.
Contact lenses are used for cosmetic or vision correction. They have more advantages than spectacles as they move with eyes and allow a natural view with no vision obstruction. They are thin lens placed on direct eye surface and do not get affected by dust or fog up as is common in spectacles.
Global contact lenses market work on the basis of what type of product, design, region and distribution channel the location has. Region determines what’s more suitable for the consumers there, soft lenses (daily wear + extended wear) or gas permeable lenses. Soft lenses have more market globally. Design wise, currently, spherical segment holds the most margin in the market. Disposable and reusable, both types are available. Reusable has been in more demand but researchers foresee a steady rise in disposable segment in the future as they are easy to use and are maintenance free.
The offline buying is strong and has the major share across the globe. With new avenues coming up online, the segment will expand steadily. Bausch & Lomb Incorporated, Alcon (Division of Novartis AG), Johnson & Johnson Vision Care, Inc., Cooper Vision, Inc., ZEISS International, SEED Co. Ltd, Hoya Vision Care Company, Essilor, Menicon Co. Ltd, and BenQ Materials Corporation are key players in the market currently.