Contact Lenses Market

An increase in the prevalence of myopia is driving the market growth

Market CAGR for contact lenses is driven by most presbyopia, and myopia among children and adults is constantly growing. This, along with limited awareness and uncertainty among the general population toward eyesight modification, specifically in emerging countries, is responsible for the growing number of people with vision impairment. 

Furthermore, the demand for ultra-vision contact lenses is increasing as they provide excellent vision and superb, all-day comfort to people with myopia. In the future, healthcare professionals to monitor the progress while using different contact lens types in real-time using advanced sensing techniques such as near-infrared spectroscopy. Several factors drive this growth in the contact lens market, such as the increasing prevalence of diabetes and the rising demand for contact lenses due to cataract surgery.

Additionally, the need to eliminate spectacles and adopt 'Plano' sunglasses to expand aesthetic appearance drives the market for contact lenses. The increasing innovations in contact lenses have enhanced the adoption of contact lenses. 

Since its U.S. launch in March 2019, Alcon’s AcrySof® IQ PanOptix® Trifocal Intraocular Lens (IOL) has become a game-changer in cataract surgery. Designed to provide comprehensive vision correction, the PanOptix lens delivers outstanding near, intermediate, and distance vision, eliminating the need for glasses post-surgery. This trifocal lens has revolutionized cataract surgery, offering improved quality of life for patients by minimizing the reliance on eyewear. Thanks to its innovative ENLIGHTEN® Optical Technology, the lens also provides excellent performance in low-light conditions, which further enhances its appeal​.

As of today, over a million PanOptix lenses have been implanted worldwide, underscoring its success and the growing demand for presbyopia-correcting IOLs. This growth reflects the broader trend in the eye care sector, with increasing numbers of patients seeking advanced solutions for presbyopia and cataracts. Alcon’s commitment to innovation continues to position them as a leader in the IOL market, with a notable surge in interest for multifocal lenses​.

Furthermore, the overall contact lenses market is experiencing significant advancements, particularly in areas such as drug-delivery capabilities and daily disposable options. As patient preferences evolve, the demand for more convenient and advanced contact lenses is expected to fuel continued growth in the sector​.

Leading manufacturers are focusing on increasing their R&D investments to develop and introduce technologically advanced lenses. These lenses will be mainly used for vision correction, fueling product usage among the patient population. 

In 2024, CooperVision and Alcon, two leading players in the contact lens industry, have made significant strides in expanding their manufacturing capabilities and product offerings, reinforcing their commitment to innovation and sustainability.

CooperVision has continued its expansion efforts, particularly through a major project at its West Henrietta facility in New York. The 150,000-square-foot expansion increases its manufacturing, packaging, and distribution capacity, enabling the company to meet the growing global demand for its contact lenses. 

This includes cutting-edge advancements in packaging and order fulfillment technologies. Additionally, CooperVision’s commitment to sustainability is evident with its LEED Silver-certified Scottsville facility, which manufactures products like the Biofinity toric lenses. Both of CooperVision’s major sites are powered entirely by renewable energy, aligning with their goal to reduce environmental impact while enhancing operational efficiency .

Alcon, on the other hand, has made noteworthy updates to its TOTAL30 product line, particularly in its toric lenses for astigmatism. As of November 2024, Alcon has expanded the fitting parameters of the TOTAL30 for Astigmatism, boosting its first-lens fit success rate to 95%. This new development is particularly beneficial for patients with more complex astigmatic prescriptions, who have previously had limited options for reusable toric lenses. 

In addition to toric lenses, Alcon’s TOTAL30 product line has been expanded to include sphere and multifocal designs, which are now available with a full range of power parameters. This expansion reflects Alcon’s ongoing effort to meet the rising demand for high-performance, reusable lenses that provide both comfort and environmental benefits​.

The Global Contact Lenses Market Industry experiences a notable surge in demand for vision correction solutions. As the prevalence of refractive errors increases, more individuals seek alternatives to traditional eyeglasses. In 2024, the market is projected to reach 11.6 USD Billion, driven by a growing awareness of eye health and the convenience offered by contact lenses. This trend is particularly pronounced among younger demographics, who favor contact lenses for aesthetic reasons and active lifestyles. The shift towards daily disposable lenses also reflects changing consumer preferences, indicating a robust growth trajectory for the industry.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American contact lenses market will dominate, owing to the growing number of patient residents suffering from refractive errors and growing awareness regarding the various types of vision correction treatments in this region. Further, the German market of contact lenses held the largest market share, and the UK market of contact lenses was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 Contact Lenses Market Share By Region 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe contact lenses market accounts for the second-largest market share due to the growing old age population and increasing technological innovation. Further, the German market of contact lenses held the largest market share, and the UK market of contact lenses was the fastest-growing market in the European region.

The Asia-Pacific contact lenses market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to a rise in visual inaccuracies and rising product innovations driving the market in this region. Moreover, China market of contact lenses held the largest market share, and the India market of contact lenses was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the market of contact lenses grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the contact lens industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the contact lens industry to benefit clients and increase the market sector. Major players in the contact lenses market, including Bausch & Lomb Incorporated, Alcon Vision LLC, The Cooper Companies Inc., Johnson & Johnson Services, Inc., Surgical Vision, Inc., and others, are attempting to expand market demand by investing in research and development operations.

Bausch + Lomb is an eye health products company based in Vaughan, Ontario, Canada. The firm was established in Rochester, New York, in 1853. The company develops, manufactures, and markets optical products and offers contact lenses, generic and prescription pharmaceuticals, intraocular lenses, and other eye surgery products for cataract and refractive surgery.

As of 2024, Bausch + Lomb continues to enhance its portfolio of custom contact lenses, focusing on innovation to address a variety of patient needs. The company’s Revive™ contact lenses, which were originally introduced in 2022, remain a pivotal offering. These soft contact lenses are specifically designed for individuals with high or unique prescriptions, offering a tailored fit to meet the diverse needs of patients who require advanced vision correction solutions. The Revive lenses are part of Bausch + Lomb's commitment to providing personalized, high-quality optical care for patients who may struggle with more traditional lens options.

Alongside the Revive lenses, Bausch + Lomb also promotes its Zenlens® scleral lenses, which are particularly effective for patients with irregular corneas or conditions such as keratoconus. The Zenlens® scleral lenses are designed with innovative technologies like SmartCurve™ and MicroVault™, ensuring precise fits and increased comfort. These lenses are ideal for individuals who need specialty lenses due to unique eye shapes, enhancing visual acuity and comfort for those with more complex eye health issues.

In 2024, Bausch + Lomb’s ongoing research and development efforts reflect a clear focus on advancing its custom and specialty lens offerings to cater to a broader range of vision correction needs. These products exemplify the company's dedication to providing cutting-edge solutions that combine comfort, precision, and optimal visual performance.

Mark'Ennovy Personalized Care SL distributes ophthalmic products. The Company provides contact lenses, eye drops, lens solutions, and other related goods. Mark'Ennovy Personalized Care serves customers in Spain. 

In 2024, Mark'Ennovy Personalized Care, SL continues to advance in the custom contact lens industry through its strengthened collaboration with Capricornia Contact Lens Pty Ltd. This partnership has enhanced Mark'Ennovy’s distribution capabilities and customer care services, with a particular focus on offering high-quality, customized lenses tailored to meet the unique vision requirements of individuals. 

The collaboration has enabled more efficient logistics and expanded their footprint in global markets, ensuring that patients with specialized prescriptions receive tailored solutions promptly.

Building on the momentum of their strategic partnership, Mark'Ennovy continues to innovate within the sector. This is reflected in their ongoing development of advanced custom lenses and their commitment to expanding their service offerings.