Latest News- Contact Lenses Market: Soft lenses is expected to lead the Product segment during 2025-2029

The Contact Lenses Market is being driven by Growing prevalence of myopia

The Contact Lenses Market is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6025.2 million. The contact lenses market is experiencing significant growth due to the continuous advancements in technology and innovation within the vision care industry. Notable developments include telescopic, brightness/light controlling, 3D-printed, augmented reality, health monitoring, and custom contact lenses. These innovations are anticipated to revolutionize the market, particularly during the forecast period. Soft contact lenses, such as the KeraSoft IC, represent a notable improvement in the industry. This silicone hydrogel lens boasts an innovative design, delivering enhanced comfort, improved health outcomes, and superior visual acuity for individuals with keratoconus and other irregular corneas. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Soft lenses
  • Rigid gas permeable lenses
  • Hybrid lenses
• Distribution Channel
  • Offline
  • Online
• Type
  • Daily wear
  • Extended wear
  • Traditional
• Variant
  • Spherical
  • Multifocal
  • Cosmetic
  • Monovision
• Solution
  • Opaque
  • Enhancers
  • Visibility tinted
• Application
  • Conventional
  • Decorative
  • Orthokeratology
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing prevalence of myopia
• Rising adoption of daily disposable contact lenses
• Increasing focus on enhancing aesthetics

However, the market also witnesses some limitations, which are as follows:

• Stringent regulations
• Safety concerns associated with use of contact lenses
• Environmental concerns associated with contact lenses

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Market Scope in Contact Lenses Market Research Report

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Research Analysis Overview

The Contact Lenses Market encompasses various types of lenses, including Soft Contact Lenses, RGP (Rigid Gas Permeable) Lenses, and Hybrid Lenses. Factors driving market growth include celebrity endorsements and increasing prevalence of refractive errors such as myopia, astigmatism, nearsightedness, and farsightedness. Challenges include infection, allergy, vitamin deficiency, and eye strain caused by digital screen exposure. Key players include Clalen, Vassen, Desio, Barbie Eyesland, Solotica, FreshKon, Maxvue Vision, ColourVue, Sweety Plus, Adore Lenses, LensMe, EOS Lenses, Dueba, and others. The market has a genetic basis and caters to various visual impairments.

Market Research Overview

The contact lenses market is a significant segment within the larger parent market of global textiles, apparel, accessories, and luxury goods. This market encompasses companies specializing in soft contact lenses, RGP lenses, and hybrid lenses. Factors driving market growth include increasing consumer preferences for corrective eyewear and celebrity endorsements. However, challenges such as infection, allergy, and vitamin deficiency-related complications may hinder market expansion. The market's size is determined by the combined revenues of manufacturers and marketers of these lens types. The global textiles, apparel, accessories, and luxury goods market's growth is fueled by the expanding working women population, leading to increased disposable income and consumer spending on various goods, including contact lenses.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/