Disposable Contact Lenses Market worth $14.93 Bn by 2031 – Exclusive Report by InsightAce Analytic

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JERSEY CITY, N.J., Dec. 13, 2023 /PRNewswire/ — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Disposable Contact Lenses Market Size, Share & Trends Analysis Report By Material (Silicone Hydrogel And Hydrogel), Usage (Daily Disposable And Frequent/Planned/Extended Wear), Application (Corrective, Therapeutic, And Cosmetic Lenses),  Distribution (Retail Optical Stores, Hospitals & Ophthalmology Clinics, And Online Stores), Design, Region, Market Outlook And Industry Analysis 2031”

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According to the latest research by InsightAce Analytic, the Global Disposable Contact Lenses Market is Valued at US$ 6.63 Bn in 2022 and it is expected to reach US$ 14.9 Bn by 2031, with a CAGR of 9.63% during the forecast period of 2023-2031.

Disposable Contact Lenses Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 6.6 Bn

Revenue Forecast In 2031

USD 14.9 Bn

Growth Rate CAGR

CAGR of 9.63% from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Material, Usage, Application,  Distribution, Design

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea

Competitive Landscape

Johnson & Johnson, Bausch+Lomb, Alcon, CooperVision, Hoya Corporation, Novartis International AG, SynergEyes, Zeiss Group, and others

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Disposable contact lenses can reduce complications that more commonly result from contact lenses worn for a longer time. These lenses are comparatively more comfortable, safe, and a better choice for people with dry eyes or allergies.

The rising cases of eye disorders, fast advancements in contact lens designing technologies, the growing popularity of disposable contact lenses, rapid adoption of silicone hydrogel disposable contact lenses, surging product innovations and launches, rising investments in these lenses, and the increasing trend of wearing colored disposable contact lenses are expected to drive the market over the forecast period. As per CooperVision’s study, regular users of digital devices complain about eye tiredness (75%) and dryness. Over 90% of individuals use digital devices for more than 2 hours each day, and around 60% use them for over 5 hours a day, which is projected to offer new opportunities for the disposable contact lenses market in the upcoming years.

However, specific side effects of disposable contact lens usage, such as dryness and red eyes, may restrain market expansion during the forecast years. Furthermore, in 2020, the COVID-19 pandemic negatively impacted the market growth due to lockdown situations and fewer eye care consultations.

North America is expected to dominate the disposable contact lenses market during the forecast period (2022-2031), followed by Europe, owing to the high prevalence of eye disorders and the increasing product launches. In addition, the Asia Pacific region is estimated to register maximum growth in the next few years due to the growing manufacturers of contact lenses and increasing demand for disposable contact lenses.

Major market players operating in the disposable contact lenses market include Johnson & Johnson, Bausch+Lomb, Alcon, CooperVision, Hoya Corporation, Novartis International AG, SynergEyes, and Zeiss Group, among others.

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Few Key Developments In The Market:

  • In March 2022, CooperVision expanded the industry’s first U.S. plastic-neutral initiative to include all silicone hydrogel 1-day contact lenses. The MyDay daily disposable family joined the clariti® 1-day family, the first net plastic neutral contact lens.
  • In March 2022, Johnson & Johnson Vision Care received FDA approval for its Acuvue Theravision with Ketotifen daily disposable contact lenses. These lenses help prevent ocular itch due to allergic conjunctivitis and provide vision correction.
  • In January 2022, Alcon launched Dailies Total1 for Astigmatism, the company’s third disposable water gradient contact lens for U.S. patients.
  • In August 2020, Bausch + Lomb launched the Bausch + Lomb INFUSE silicone hydrogel (SiHy) daily disposable contact lens, the only SiHy daily disposable with a next-generation material infused with ProBalance Technology to support ocular surface homeostasis and help decrease symptoms of contact lens dryness.

Market Segments

Global Disposable Contact Lenses Market, by Material, (Value US$ Mn)

  • Silicone Hydrogel
  • Hydrogel

Global Disposable Contact Lenses Market, by Usage, (Value US$ Mn)

  • Daily Disposable
  • Frequent/Planned/Extended Wear

Global Disposable Contact Lenses Market, by Application, (Value US$ Mn)

  • Corrective Lenses
  • Therapeutic Lenses
  • Cosmetic Lenses

Global Disposable Contact Lenses Market, by Distribution, (Value US$ Mn)

  • Retail Optical Store
  • Hospitals & Ophthalmology Clinics
  • Online Store

Global Disposable Contact Lenses Market, by Design, (Value US$ Mn)

  • Spherical
  • Toric
  • Multifocal

Global Disposable Contact Lenses Market, by Region, (Value US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America Disposable Contact Lenses Market, by Country, (Value US$ Mn)

  • U.S.
  • Canada

Europe Disposable Contact Lenses Market, by Country, (Value US$ Mn)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia Pacific Disposable Contact Lenses Market, by Country, (Value US$ Mn)

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America Disposable Contact Lenses Market, by Country, (Value US$ Mn)

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Disposable Contact Lenses Market, by Country, (Value US$ Mn)

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Why should buy this report:

  • To receive a comprehensive analysis of the prospects for the global disposable contact lenses market
  • To receive an industry overview and future trends of the disposable contact lenses market
  • To analyze the disposable contact lenses market drivers and challenges
  • To get information on the disposable contact lenses market size (Value US$ Mn) forecast to 2031
  • Major investments, mergers & acquisitions in the disposable contact lenses market industry

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Other Related Reports Published by InsightAce Analytic:

Myopia Control Lenses Market

Precision Optics Market

Optical Coherence Tomography (OCT) Market

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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