Disposable Contact Lenses Market Report

Market Insights

The Global Disposable Contact Lenses Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of x % during the forecast period.

Figure: Global Disposable Contact Lenses Market Size, 2020-2026 (USD Billion)

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What are Disposable contact lenses?

Disposable contact lenses are defined as the lenses that are used once and then discarded. These contact lenses can be divided into three types which include daily disposable contact lenses, weekly disposable contact lenses, and monthly disposable contact lenses. These contact lenses can be disposed either on the same or after one week, two weeks, or one month.

Key Players

Key players operating in the global Disposable Contact Lenses market are-

• Johnson & Johnson Vision (The U.S.),
• CooperVision (The U.S),
• Novartis International AG (Switzerland),
• Bausch + Lomb (The U.S),
• St.Shine Optical Co., Ltd (China),
• Menicon (Japan),
• Alcon Vision LLC (Switzerland),
• Hoya Corporation (Japan),
• Seed Co., Ltd. (Japan),
• STAAR Surgical Company (The U.S), and
• SynergEyes (The U.S).

Market Dynamics

The demand for daily disposable contact lenses is increasing significantly due to greater comfort.

• The global market growth is primarily driven by an increase in the number of people suffering from visual insufficiencies such as presbyopia and astigmatism.
• Growing investment in R&D activities in the optometry field is likely to propel the market growth substantially.
• Increasing demand for soft contact lenses integrated with advanced techniques is likely to create lucrative opportunities for the players operating in the global disposable contact lenses market during the review period.

Segment Analysis

Application Trends

Based on application, the market has been divided into corrective, therapeutic, cosmetic, prosthetic, and lifestyle oriented.

• The corrective lenses application segment accounted for the largest share in 2020.
• The cosmetics segment is expected to register a considerable growth rate during the review period on account of the rising demand for products that helps to improve eye aesthetics.

Regional Trends

The market in the Asia-Pacific region is expected to grow at the fastest CAGR due to rising eye-related problems.

• The market in developed regions accounted for the largest share in 2020 due to the presence of major market players such as Johnson & Johnson Vision (The US), and CooperVision (The US); and high demand for technology-integrated products.
• High demand for cosmetics contact-lenses in developing countries such as India and China; and rising aging population particularly in Japan.

COVID-19 Impact on Global Disposable Contact Lenses Market

The product availability in the market was affected when the governments across geographies-imposed lockdown as it resulted in travel restrictions and supply chain disruptions. The number of first-time contact lens wearers increased amid the covid-19 outbreak to minimize the bulkiness of glasses on the face while wearing a mask. Additionally, the surge in usage of virtual platforms such as zoom for office meetings resulted in increased demand for cosmetic contact lenses and thus, contributed to the market growth positively.

Critical questions answered in the report –

• What are the key trends in the global disposable contact lenses market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global disposable contact lenses market?
• What are the key strategies adopted by the major vendors to lead in the global disposable contact lenses market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Global Disposable contact lenses market hopes to have the greatest opportunity to convert-

• Disposable contact lenses distributors
• Disposable contact lenses suppliers
• Disposable contact lenses manufacturers
• Logistics organizations
• Government Bodies

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