The Coloured Contact Lenses Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Coloured Contact Lenses Global Market Report 2024, 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.
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.
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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
Major companies operating in the colored contact lens market are focusing on innovative products such as colored contact lenses to meet the rising trend of makeovers among India’s. Colored contact lenses are a popular option for changing or enhancing eye color while also correcting vision. For instance, in April 2022, Johnson & Johnson Vision, a US-based ophthalmology company, launched BUBBLE POP, a new range of colored contact lenses designed to provide an affordable and effortless eye makeover for everyday use. The lenses come in two categories: The Neon range (Neon Gray, Neon Blue, and Neon Hazel) is bold and designed to project glamour during the night, whereas the Pastel range consists of subtle colors (Pastel Gray, Pastel Purple, and Pastel Green) that can be worn during the day. Bubble POP lenses are monthly disposable soft contact lenses, making them convenient for users who prefer a fresh pair of lenses every month. These lenses have a water content of 38%, ensuring that they remain moist and comfortable throughout the day.
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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26. South America Colored Contact Lenses Market
27. Brazil Colored Contact Lenses Market
28. Middle East Colored Contact Lenses Market
29. Africa Colored Contact Lenses Market
30. Colored Contact Lenses Market Competitive Landscape And Company Profiles
Top Major Players:
- Johnson & Johnson
- Novartis AG
- Essilor International
- Alcon
- Hoya Corporation
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