Overview and Scope
Colored contact lenses are specially designed lenses that allow a person to change the color of their eyes for a special event. The primary goal is to enhance the wearer’s natural eye color.
Sizing and Forecast
The colored contact lenses market size has grown rapidly in recent years. It will grow from $3.56 billion in 2023 to $3.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to celebrity endorsements, increased disposable income, social media influence, globalization, shifts in societal attitudes towards cosmetic enhancements.
The colored contact lenses market size is expected to see rapid growth in the next few years. It will grow to $5.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to rising aging population, e-commerce expansion, partnerships with influencers, increased focus on personal appearance, health and safety concerns. Major trends in the forecast period include biodegradable materials, virtual try-on technologies, subscription services, innovations in lens designs, wellness packaging.
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Segmentation & Regional Insights
The colored contact lenses market covered in this report is segmented –
1) By Product Type: Soft Contact Lenses, RGP Lenses, Hybrid Lenses
2) By Material: Polymer, Hydrogen
3) By Application: With Vision Correction, Without Vision Correction
4) By End-Users: Retail Stores, Online Stores, Other Stores
North America was the largest region in the colored contact lenses market in 2023. The regions covered in the coloured contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increasing number of eye disorders is expected to propel the growth of the colored contact lens market going forward. An eye disorder refers to various eye problems resulting in blindness and low vision that may be caused by infection, allergy, or vitamin deficiency. Colored contact lenses improve or change the appearance of the eye and can be used to address common visual disorders such as astigmatism, nearsightedness, or farsightedness. For instance, in February 2021, according to the Global Eye Health report published by The Lancet Global Health, a US-based, internationally trusted source of global public health knowledge, a projected 596 million people globally, including 43 million blind people, have distance vision impairment. Another 510 million people had uncorrected nearsightedness due to a lack of reading glasses. As a result of population aging, growth, and urbanization, a projected 895 million individuals will have distance vision impairment by 2050, of whom 61 million will be blind. Therefore, an increasing number of eye disorders are driving the growth of the colored contact lens market.
Key Industry Players
Major companies operating in the coloured contact lenses market report are Johnson & Johnson, Novartis AG, Essilor International, Alcon, Hoya Corporation, Bausch + Lomb, CooperVision Inc., Carl Zeiss AG, Clalen, TTDeye, Olens, QualiMed Srl, Menicon Co. Ltd., NEO Vision, SEED Co.Ltd., Vassen, Desio, Barbie Eyesland, UltraVision CLPL, Solotica, Camax Optical Corp., Oculus Private Limited, Clearlab SG Pte Ltd., FreshKon, Maxvue Vision, ColourVue, Sweety Plus, Adore Lenses, LensMe, EOS Lenses, Dueba, Geo Medical, PIAA Corporation, FourVision, ICK Contacts, Beuberry, Princess Pinky, InnoVision, EyeCandys, Dreamcon
The coloured contact lenses market report table of contents includes:
1. Executive Summary
2. Colored Contact Lenses Market Characteristics
3. Colored Contact Lenses Market Trends And Strategies
4. Colored Contact Lenses Market – Macro Economic Scenario
5. Global Colored Contact Lenses Market Size and Growth
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31. Colored Contact Lenses Market Other Major And Innovative Companies
32. Global Colored Contact Lenses Market Competitive Benchmarking
33. Global Colored Contact Lenses Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Colored Contact Lenses Market
35. Colored Contact Lenses Market Future Outlook and Potential Analysis
36.Appendix
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