India Contact Lenses Manufacturers Market Size was valued at USD 0.2 Billion in 2022. The contact lenses manufacturers market industry is projected to grow from USD 0.23 Billion in 2023 to USD 0.430 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2024 - 2032). The rising number of children experiencing myopia and the increasing incidence of chronic eye illnesses are key market drivers expected to propel the growth of the India contact lenses manufacturers market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
One major factor propelling the India contact lenses manufacturers market CAGR is the rising prevalence of eyesight problems. There is a growing need for efficient vision correction methods due to the increasing prevalence of disorders like myopia and presbyopia. In India, the prevalence of myopia has risen to 21.1% in 2019, according to the National Center for Biotechnology Information. Contact lenses are a useful and easy substitute for traditional spectacles, making them appealing to those who want unhindered vision without sacrificing style. Age-related vision problems are more common as people become older, which increases the need for contact lenses manufacturers—especially multifocal and bifocal lenses that are made to correct specific visual deficiencies. Moreover, the contact lenses manufacturers market gains from continuous R&D by offering cutting-edge designs and materials that improve comfort and meet a wider variety of visual requirements. Due in part to their versatility in treating a range of refractive problems, contact lenses are becoming more and more popular in India.
The development of technology is a major factor driving the expansion of the India contact lenses manufacturers market. High-performance lenses that considerably enhance wearer comfort and treat particular visual problems have been developed as a result of ongoing innovation in materials and design. For instance, silicone hydrogels have transformed materials used in contact lenses by offering improved breathability, moisture retention, and oxygen permeability, which increases use times and user happiness. The progression of lens designs is an additional crucial facet of technological advancement. The market's reach to a wider range of consumers is increased by developments in multifocal lenses for presbyopia and toric lenses for astigmatism, which address a wider range of visual needs. These developments improve the user experience overall in addition to increasing the efficacy of vision correction.
Thus, driving the contact lenses manufacturers market revenue.
The India Contact Lenses Manufacturers market segmentation, based on design type, includes Spherical, Toric, Multi-focal, and Others. The spherical segment dominated the market mostly. Innovations in technology and precise spherical lens fit are responsible for the segment's domination. Over the projected time, the growing ubiquity of these lenses is anticipated to propel demand and adoption.
The India Contact Lenses Manufacturers market segmentation, based on application, includes Corrective, Cosmetic, and Others. The corrective category generated the most income. The main purpose of corrective lenses is to treat common visual problems such as astigmatism, hyperopia, and myopia, or nearsightedness and farsightedness. They provide users with a clear and comfortable substitute for spectacles, enabling better vision without the need for LASIK or other surgical procedures. The industry under investigation is expanding in part due to the high prevalence of eye problems.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The India Contact Lenses Manufacturers market segmentation, based on Distribution Channel, includes Retail Stores, Online, and Hospitals & Clinics. The retail stores category generated the most income. Optical shops and pharmacies are examples of retail establishments where contact lenses are commonly purchased. This channel is especially useful for people who prefer to purchase in person and for those who need to replace lost or broken lenses quickly. Retail stores also have the potential to introduce people to contact lenses for the first time because they offer in-store trials and staff consultations with expertise.
The expansion of the India contact lenses manufacturers market is being aided by factors such as rising disposable income, expanding purchasing power, an increase in optical clinics, and an increase in professions. A significant contributing component to the India contact lenses manufacturers market value is the growing use of contact lenses in the country. Furthermore, supporting the market expansion is the fact that a changing lifestyle is causing an increase in the number of persons suffering from ocular illnesses that impair central and sharp vision. Additionally, a growing number of people are in need of contact lenses due to the prevalence of visual problems, including myopia and presbyopia, which are partially caused by increased screen usage. Consumers who want to improve or alter the color of their eyes frequently use cosmetic contact lenses in addition to those for medical purposes.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the contact lenses manufacturers market, grow even more. Market participants are also undertaking a variety of 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, contact lenses manufacturers industry must offer cost-effective items.
Major players in the contact lenses manufacturers market are attempting to increase market demand by investing in research and development operations, includes Bausch & Lomb India Private Limited, Hoya Medical India Pvt. Ltd, Johnson & Johnson Private Limited, Excellent Hicare Pvt Ltd, CVI Contact Lenses India Pvt. Ltd., Essilor India Private Ltd., Contek India, Alcon Laboratories (India) Pvt. Ltd., Carl Zeiss India, and Omni Lens Pvt Ltd.
Bausch & Lomb India Private Limited
Hoya Medical India Pvt. Ltd
Johnson & Johnson Private Limited
CVI Contact Lenses India Pvt. Ltd.
Essilor India Private Ltd.
Contek India
Alcon Laboratories (India) Pvt. Ltd.
Carl Zeiss India
Omni Lens Pvt Ltd.
October 2021: Cooper Companies Inc. spent about USD 110.3 million on research and development in 2022 as opposed to USD 92.7 million in 2021. Cooper Vision Inc.'s R&D efforts are mostly concentrated on lens development, production technologies, and process optimization.
September 2021: With the acquisition of Arctos Medical, Novartis was able to add patented technology from Arctos and a pre-clinical optogenetics-based AAV gene therapy program to its ophthalmology portfolio. This acquisition demonstrates Novartis' commitment to developing effective treatments for people with visual loss and the potential of optogenetics as a basis for such treatments.
Spherical
Toric
Multi-focal
Others
Corrective
Cosmetic
Others
Retail Stores
Online
Hospitals & Clinics
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.2 Billion |
| Market Size 2023 | USD 0.23 Billion |
| Market Size 2032 | USD 0.430 Billion |
| Compound Annual Growth Rate (CAGR) | 8.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Design Type, Application, Distribution Channel, and Region |
| Countries Covered | India |
| Key Companies Profiled | Bausch & Lomb India Private Limited, Hoya Medical India Pvt. Ltd, Johnson & Johnson Private Limited, Excellent Hicare Pvt Ltd, CVI Contact Lenses India Pvt. Ltd., Essilor India Private Ltd., Contek India, Alcon Laboratories (India) Pvt. Ltd., Carl Zeiss India, and Omni Lens Pvt Ltd. |
| Key Market Opportunities | Growing advancement in technology related to contact lenses |
| Key Market Dynamics | Rising number of conditions relating to the eyes Rise in the prevalence of refractive defects |
Frequently Asked Questions (FAQ) :
The India Contact Lenses Manufacturers market size was valued at USD 0.23 Billion in 2023.
The market is projected to grow at a CAGR of 8.20% during the forecast period, 2024-2032.
The key players in the market are Bausch & Lomb India Private Limited, Hoya Medical India Pvt. Ltd, Johnson & Johnson Private Limited, Excellent Hicare Pvt Ltd, CVI Contact Lenses India Pvt. Ltd., Essilor India Private Ltd., Contek India, Alcon Laboratories (India) Pvt. Ltd., Carl Zeiss India, and Omni Lens Pvt Ltd.
The retail stores category dominated the market in 2023.
The corrective category had the largest share in the market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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