United States contact lens
market is expected to grow at a significant rate for the forecast period,
2024-2028. Rising in the optic disorders among population and developing
research and development infrastructures are the two significant contributing
factors leading to surge in the market growth for the next five years.
Additionally, this can be
ascribed to the rising tendency to improve aesthetics prevalence of eye
diseases among the population across the world, rising awareness among
consumers, and rising demand for cosmetic and therapeutic lenses.According
to National Eye Institute, National Institute of Health, around 16.4 million
Americans are expected to have difficulty seeing due to correctable refractive
errors that can be fixed with glasses, contacts, or surgery. Additionally,
the researchers suggested that the number of people with visual
impairment or blindness in the United States is expected to double to more than
8 million by 2050.
The prevalence of severe eye
conditions is giving rise to conditions such as myopia, presbyopia, astigmatism
etc, which in turn creates a higher market demand for contact lenses. Moreover,
according to Centers for Disease Control and Prevention (CDC 2022), an
estimated 93 million adults in the United States are at high risk for serious
vision loss, but only half visited an eye doctor in the past 12 months.
Additionally, the increasing
prevalence of refractive errors, such as myopia, hyperopia, astigmatism, and
presbyopia. Refractive errors affect a large proportion of the population, and
contact lenses offer an effective way to correct these vision problems. In
addition, advances in technology have led to the development of innovative
contact lenses that can provide better vision, greater comfort, and longer wear
time, which has further fueled the growth of the United State Contact Lenses
Market.
Rising prevalence of visual
impairment
Visual impairment is a common
problem that affects millions of people. This is due to the increase in
refractive errors, age related macular degeneration, glaucoma, etc. The
refractive errors include to the myopia, presbyopia, etc. Age-related macular
degeneration is a major cause of blindness in adults. The development of large
drusen deposits may increase the risk for macular degeneration. For
instance, According to National Institute of Health, 2.1 million Americans have
advanced AMD, and an estimated 3.7 million will have advanced AMD by
2030. Glaucoma is a disease that damages the optic nerve and can lead
to visual impairment or blindness. For instance, amblyopia and strabismus are
disorders that mostly occur in children. According to the American
Academy of Ophthalmology (AAO), in the United States, about 12 million people
of age 40 and above suffer from vision impairment, with about a million
suffering from blindness. Moreover, a rise in visual inaccuracies is
expected to drive regional market growth. As per the research study
published in May 2022, namely “Census Shows High Prevalence of Pediatric myopia
in the United States”, there is a high prevalence of pediatric myopia in the
United States, and in 2020, about 19.5 million children with myopia were living
in the United States with the nationwide prevalence of 36.1%. Hence,
an increase in eye disorders will lead to a growing demand for contact lenses.
Increasing Research &
Developments
The growing research &
development in the contact lenses has led to the discovery of materials used to
make contact lenses with additional features and functionality. Researchers had
recently developed contact lenses enhanced with microfluidic technology to
develop contact lenses for an efficient method of drug delivery. As a result,
this technology enables non-invasive intraocular pressure monitoring in the
eye, which is hugely in demand in the contact lens industry and is expected to
support market expansion over the coming years. For instance, the United States
have developed well-structured healthcare systems. These systems also encourage
research and development. Additionally, the government policies support and
encourage the United States market players to enter into it. As a result, these
countries have the presence of many international market players to develop
contact lenses with new advancements. The United States contact lenses market
is highly competitive, with major players including Johnson & Johnson,
Alcon (Novartis), Bausch & Lomb (Valeant Pharmaceuticals), and
CooperVision. These companies invest heavily in research and development to
develop new products and improve existing ones, and they also engage in
strategic partnerships and acquisitions to expand their market share.
Rising tendency of improving
aesthetics among population
Another trend driving growth in
the contact lenses market is the increasing demand for coloured lenses. These
lenses are used not only for vision correction but also for cosmetic purposes,
such as changing the colour of the eyes. With advancements in technology,
coloured lenses are now available in a wide range of shades and patterns,
catering to different consumer preferences. Most of the people are using
contact lenses not only to correct vision but are also used to improve their
eye colour. The contact lenses are higher in demand as a fashion
accessory in recent times as people are influenced by the fashion industry and
influencers for using coloured contact lenses to enhance their eye colour and
at times to match their outfits. Various leading companies such as
Alcon Incorporation introduced Precision 1, a silicone hydrogel disposable
contact lens for astigmatic patients in 2021. These lenses are
specifically made to balance the eye care solution and provide oxygen to the
cornea. Moreover, for customers who like an ascetic lifestyle or work long
hours on digital devices and have sensitive or dry eyes, silicone hydrogel
contacts lenses tend to be more pleasant for them. Furthermore, in 2018, Alcon
introduced its new AIR OPTIX® COLORS Gemstone Collection of contact lenses,
designed for users who prefer comfortable, coloured contact lens options that
appear natural on their eyes. Moreover, the companies like CooperVision,
Alcon, Bosch + Lomb, etc are manufacturing eye contact lenses which are approved
by the FDA and thereby are considered safe if wore or tried under prescription,
therefore making the coloured lenses safe and thus increasing the usage among
the population creating more market demand and is anticipated to bolster market
growth in the future.
Recent Developments and Product
Launches
In September 2022, Johnson &
Johnson launched TECNIS Synergy™ Toric II, a continuous range of vision
Intraocular Lens (IOL) by the utilization of CATALYS™ System OS 6.0 software.
The product has definite features for the management of antigmatism, for smooth
flow of surgeons using the CATALYS™ Precision Laser System. The product
supports first post-marketing clinical research findings on TECNIS Synergy™ and
TECNIS Toric II platform.
Furthermore, in 2021, a global
strategic partnership between Johnson & Johnson Vision and the contact lens
manufacturer Menicon was recently launched to provide access to therapeutic
contact lenses for children developing myopia. Additionally, Menicon
launched its Menicon bloom control management system.
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Market Segmentation
The United States Contact Lenses
Market is segmented into material type, design, wear type, application,
distribution channel, by region and company. Based on material type, the
contact lens market is segmented into silicone hydrogel, hydrogel, gas
permeable, and others. Based on the design, the market is fragmented into
Spherical, toric, multifocal and others. Based on the wear type of material,
the market is segmented into disposable, reusable. Depending on the
Application, the market is segmented into corrective, therapeutic, cosmetic and
others. Based on the distribution channel, the contact lens market is
fragmented among retail store, online and hospitals &clinics.
Market Players
CooperVision, Inc., Bausch Health
Companies, Inc., Alcon, Inc., Johnson & Johnson, Carl Zeiss Inc.,
EssilorLuxottica USA, Menicon America, Inc., SynergEyes, Inc., X-Cel Specialty
Contacts, STAAR Surgical Companyare, etc. are some of the leading players
operating in the United States Contact Lenses Market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2022
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Estimated Year
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2023
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Forecast Period
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2023 – 2028
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Quantitative Units
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Revenue in USD Million, Volume Units and
CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue forecast, Volume forecast company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Material Type
·
Design
·
Wear Type
·
Application
·
Distribution Channel
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Region
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Company
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Regional scope
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Mid-West, South, North-East and
West
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Key companies profiled
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CooperVision, Inc., Bausch Health
Companies, Inc., Alcon, Inc., Johnson & Johnson, Carl Zeiss Inc.,
EssilorLuxottica USA, Menicon America, Inc., SynergEyes, Inc., X-Cel
Specialty Contacts, STAAR Surgical Companyare.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet
your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, the United
States Contact Lens Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- United States Contact Lens Market,
By Material Type
- Silicone Hydrogel
- Hydrogel
- Gas Permeable
- Others
- United States Contact Lens Market,
By Design:
- Spherical
- Toric
- Multifocal
- Others
- United States Contact Lens Market,
By Wear Type
- United States Contact Lens Market,
By Application:
- Corrective
- Therapeutic
- Cosmetic
- Others
- United States Contact Lens Market,
By Distribution Channel:
- Retail Stores Toric
- Online
- Hospital & Clinics
- United States Contact Lenses,
By Region:
- Mid-West
- South
- North-East
- West
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in United States Contact Lenses market
Available Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
United States Contact Lens
Market is an upcoming report to be released soon. If you wish an early delivery
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