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DUBLIN , Oct. 16, 2020 /PRNewswire/ -- The "Contact Lenses Market by Usage (Daily Wear, Extended Wear), Design (Monovision, Spherical, Multifocal, Toric), Material (PMMA, Hybrid, Silicone Hydrogel), Application (Orthokeratology, Decorative Lens), Distribution Channel, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The contact lenses market is projected to reach USD 10.16 billion in 2025 at a CAGR of 6.7% from 2020-2025.

Market growth is driven mainly by the growing prevalence of myopia, increasing preference for contact lenses over prescription eyeglasses, and the ever-increasing geriatric population worldwide. The untapped emerging markets are expected to provide growth opportunities for players in the contact lenses market.

Low maintenance and easy wearability to drive the growth of daily wear contact lenses

The contact lenses market, by usage, is segmented into daily wear, extended wear, and traditional contact lenses. The daily wear contact lenses segment dominated the market in 2019. The large share of this segment can be attributed to their advantages - easy wearability, no requirement of lens cleaning (in the case of disposable daily wear contact lenses), and no requirement of overnight wear. These contact lenses do not have the issue of day-to-day accumulation of lens deposits and are more affordable than other types of contact lenses.

Increasing prevalence of myopia to drive the growth of conventional contact lenses in 2019

Based on application, the contact lenses market is segmented into conventional, orthokeratology (Ortho-k), and decorative contact lenses. The conventional lenses segment accounted for the largest share of contact lenses. The increasing prevalence of myopia, the rising geriatric population, and the growing preference for contact lenses over eyeglasses drive the growth of the conventional contact lenses market.

Retail stores are the largest distribution channel segment in the contact lenses market in 2019

Based on the distribution channel, the contact lenses market is segmented into retail stores, hospitals & clinics, and e-commerce. In 2019, retail stores accounted for the largest share of the contact lenses market, followed by hospitals & clinics and e-commerce. The large share of retail stores can be attributed to rising disposable income and the demand for cosmetic contact lenses. Moreover, these stores dispense OTC daily wear disposable contact lenses, resulting in a higher sales volume.

North America dominated the contact lenses market in 2019

The global contact lenses market has been segmented into five regional segments - North America , Europe , Asia Pacific , Latin America , and the Middle East & Africa . In 2019, North America accounted for the largest share of the contact lenses market. The rising prevalence of age-related eye diseases, increasing healthcare expenditure, rising disposable income, and technological advancements in contact lenses and related products are driving the growth of the contact lenses market in North America .

4 Premium Insights 4.1 Contact Lenses Market Overview 4.2 Asia-Pacific : Contact Lenses Market, by Usage and Country (2019) 4.3 Contact Lenses Market: Geographic Growth Opportunities 4.4 Regional Mix: Contact Lenses Market (2020?2025) 5 Market Overview 5.1 Introduction 5.2 Market Dynamics: Impact Analysis 5.2.1 Drivers 5.2.1.1 Growing Prevalence of Myopia 5.2.1.2 Growing Geriatric Population 5.2.1.3 Increasing Preference for Contact Lenses Over Prescription Eyeglasses 5.2.1.4 Impact Analysis 5.2.2 Opportunities 5.2.2.1 Untapped Emerging Markets 5.2.2.2 Impact Analysis 5.2.3 Challenges 5.2.3.1 Shortage of Ophthalmologists 5.2.3.2 Impact Analysis 5.3 Regulatory Scenario for the Contact Lenses Market 5.3.1 North America 5.3.1.1 US 5.3.1.2 Canada 5.3.2 Europe 5.3.3 Asia-Pacific 5.3.3.1 Japan 5.3.3.2 China 5.3.3.3 Singapore 5.4 Impact of COVID-19 on the Contact Lenses Market 5.4.1 COVID-19: Impact on Players 6 Technological Scenario 6.1 Key Technologies in the Contact Lenses Market 6.1.1 Hydraclear Technology 6.1.2 Asd Technology 6.1.3 Lacreon Technology 6.1.4 PEG Technology 6.1.5 PC Technology 6.1.6 Optimized Toric Lens Geometry Technology 6.1.7 Digital Zone Optics Lens Design Technology 6.1.8 Lightstream Lens Technology 6.1.9 Smart Contact Lens Technology 6.1.10 Light Intelligent/Adaptive Technology 6.2 Contact Lenses Market: Future Outlook 7 Contact Lenses Market, by Product Type 7.1 Introduction 7.2 Contact Lenses Market, by Usage 7.2.1 Daily Wear Contact Lenses 7.2.1.1 Daily Wear Contact Lenses Accounted for the Largest Market Share in 2019 7.2.2 Extended Wear Contact Lenses 7.2.2.1 Better Clinical Performance and Extended Wearability to Drive Segment Growth 7.2.3 Traditional Contact Lenses 7.2.3.1 Market for Traditional Contact Lenses is Expected to be Cannibalized by Daily and Extended Wear Contact Lenses 7.3 Contact Lenses Market, by Design 7.3.1 Spherical Contact Lenses 7.3.1.1 The Rising Prevalence of Myopia is Driving the Growth of the Spherical Contact Lenses Market 7.3.2 Toric Contact Lenses 7.3.2.1 Growing Prevalence of Astigmatism to Drive the Growth of the Toric Contact Lenses Market 7.3.3 Multifocal Contact Lenses 7.3.3.1 Multifocal Contact Lenses to Register the Highest Growth Rate During the Forecast Period 7.3.4 Monovision Contact Lenses 7.3.4.1 Preference for Multifocal Lenses to Slow the Adoption of Monovision Contact Lenses 7.3.5 Cosmetic Contact Lenses 7.3.5.1 The Growing Trend of Changing Eye Appearance is Driving the Demand for Cosmetic Contact Lenses 7.4 Contact Lenses Market, by Material 7.4.1 Silicone Hydrogel Contact Lenses 7.4.1.1 High Oxygen Permeability of Silicone Hydrogel Contact Lenses Has Driven Their Adoption 7.4.2 Hydrogel Contact Lenses 7.4.2.1 The Contact Lenses Market is Experiencing a Notable Shift from Hydrogel to Silicone Hydrogel Contact Lenses 7.4.3 Gas-Permeable Contact Lenses 7.4.3.1 Gas-Permeable Contact Lenses Have Replaced Non-Porous Pmma Contact Lenses in Recent Years 7.4.4 Hybrid Contact Lenses 7.4.4.1 Increasing Number of Refractive Surgeries Drive the Growth of Hybrid Contact Lenses 7.4.5 Polymethyl Methacrylate Contact Lenses 7.4.5.1 Growing Demand for Hydrogel and Silicone Hydrogel Lenses to Significantly Decrease the Adoption of Pmma Lenses 7.5 Contact Lenses Market, by Color Variation 7.5.1 Opaque Contact Lenses 7.5.1.1 Opaque Lenses Held the Largest Share of the Market, by Color Variation 7.5.2 Enhanced Contact Lenses 7.5.2.1 Growing Adoption of Enhanced/Tinted Lenses in the Entertainment Sector is a Key Market Driver 7.5.3 Visibility Tinted Contact Lenses 7.5.3.1 Easy Availability and the Emergence of Local Players Drive the Market 7.6 Contact Lenses Market, by Application 8 Contact Lenses Market, by Distribution Channel 8.1 Introduction 8.1.1 Impact of COVID-19 on the Market, by Distribution Channel 8.1.2 Retail Stores 8.1.2.1 Retail Stores Accounted for the Largest Share of the Contact Lenses Market in 2019 8.1.3 Hospitals & Clinics 8.1.3.1 Growing Number of Hospitals in Developing Countries to Drive the Growth of the Hospitals & Clinics Segment 8.1.4 E-Commerce 8.1.4.1 Growing Trend of Online Purchases to Drive the Market 9 Contact Lenses Market, by Region 9.1 Introduction 9.2 North America 9.3 Europe 9.4 Asia-Pacific 9.5 Latin America 9.6 Middle East & Africa 10 Competitive Landscape 10.1 Overview 10.2 Market Evaluation Framework 10.3 Market Share Analysis 10.4 Contact Lenses Market: Geographical Assessment, Product Portfolio Matrix, and R&D Expenditure of Key Players 10.5 Revenue Analysis of Key Market Players 10.6 Company Evaluation Matrix Definition and Methodology 10.6.1 Stars 10.6.2 Emerging Leaders 10.6.3 Pervasive Companies 10.6.4 Emerging Companies 10.7 Competitive Situation and Trends 10.7.1 Product Launches and Enhancements 10.7.2 Expansions 10.7.3 Acquisitions & Divestitures 10.7.4 Agreements and Partnerships 11 Company Profiles 11.1 Johnson & Johnson 11.2 Alcon 11.3 The Cooper Companies 11.4 Bausch + Lomb 11.5 Carl Zeiss Meditec Ag 11.6 Hoya Corporation 11.7 Seed 11.8 Menicon 11.9 Essilorluxottica 11.10 Benq Materials Corporation 11.11 Synergeyes 11.12 Conforma Laboratories 11.13 Freshlady Contact Lenses 11.14 ABB Optical Group 11.15 X-Cel Specialty Contacts 11.16 St. Shine Optical 11.17 Bescon 11.18 Neo Vision 11.19 Clearlab 11.20 Camax Optical Corporation 12 Appendix

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