Global Colored Contact Lenses Market, By Type (Visibility Tint, Enhancement Tint, Opaque Tint), Distribution Channel (Optical Stores, Retail Pharmacies, Drugstores, E-Commerce), Application (With Vision Correction, Without Vision Correction) – Industry Trends and Forecast to 2030.
Colored Contact Lenses Market Analysis and Size
The increasing incidence of ophthalmic disorders is a key driver contributing to the growth of the colored contact lenses market. The rising popularity of colored contact lenses over traditional spectacles, driven by the desire for improved facial aesthetics, especially among youth and the entertainment industry, is expected to boost the colored contact lenses market. Additionally, the increasing preference for branded cosmetic contact lenses is likely to support market growth. However, cost disparities between branded and unbranded options may hinder the market's growth in the foreseeable future.
Data Bridge Market Research analyses that the global colored contact lenses market which was USD 4.33 billion in 2022, is expected to reach USD 7.19 billion by 2030, and is expected to undergo a CAGR of 6.54% during the forecast period of 2023 to 2030. “Opaque Tint “dominates the type segment of global colored contact lenses market, due to its popularity in altering eye color significantly, meeting both cosmetic and medical needs for individuals seeking a dramatic change. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Colored Contact Lenses Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Visibility Tint, Enhancement Tint, Opaque Tint), Distribution Channel (Optical Stores, Retail Pharmacies, Drugstores, E-Commerce), Application (With Vision Correction, Without Vision Correction)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of the Middle East and Africa
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Market Players Covered
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Johnson & Johnson Vision Care, Inc. (U.S.) , Alcon (Switzerland) , Bausch + Lomb (U.S.) , CooperVision (U.S.) , ClearLab (Singapore) , Cantor & Nissel Ltd. (U.K.) , St. Shine Optical Co., Ltd. (Taiwan) , Menicon Co., Ltd. (Japan), Maxvue Vision (Hong Kong), Dueba Corporation (South Korea), ColourVUE (Malaysia), GEO Medical (South Korea)
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Market Opportunities
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Market Definition
The colored contact lenses are thin, curved devices placed directly on the eye's cornea to enhance or change the natural eye color temporarily. They are primarily used for cosmetic purposes but can also serve as corrective lenses for vision correction.
Global Colored Contact Lenses Market Dynamics
Drivers
- Growing Cosmetic and Aesthetic Trends
The market for colored contact lenses is flourishing due to the increasing popularity of these lenses for cosmetic and aesthetic purposes. Many consumers seek to enhance their appearance by changing their eye color, and colored contact lenses offer a non-permanent and versatile option. As fashion trends evolve, the demand for a variety of colors and designs continues to grow, driving market expansion.
- Increase in the Ophthalmic Disorders
The prevalence of ophthalmic disorders and vision problems is a significant driver of the colored contact lenses market. These lenses are not only used for cosmetic reasons but also as therapeutic solutions. Colored lenses can aid in managing conditions like astigmatism or photophobia while offering vision correction, making them a preferred choice for individuals with various eye health needs.
Opportunities
- Emerging Markets for Colored Contact Lenses
Emerging markets present promising opportunities for colored contact lenses. These regions, characterized by rising disposable incomes and changing lifestyles, have witnessed a surge in demand for cosmetic and therapeutic lenses. Market players can tap into these markets by offering a diverse range of products and tailored solutions to cater to the preferences of consumers in these regions.
- Advancements in Lens Technology
The global colored contact lenses market holds potential in expanding its use in medical applications. These lenses can serve as prosthetic or therapeutic solutions for individuals with eye conditions, injuries, or post-surgical needs. As advancements in lens technology continue, there are opportunities to develop specialized medical lenses that can address a broader spectrum of eye health issues.
Restraints/Challenges
- Health and Safety Concerns
One of the challenges facing the global colored contact lenses market is addressing health and safety concerns. Proper usage, care, and maintenance of these lenses are essential for eye health. Ensuring that consumers are well-informed about the safe handling and hygiene practices associated with colored lenses is crucial to mitigate risks and build trust in the market.
- Regulatory Compliance and Standards
Stringent regulations and standards governing the manufacturing and sale of contact lenses can act as a restraint on market growth. Complying with these regulations, obtaining necessary approvals, and ensuring product safety and quality can be resource-intensive and time-consuming for manufacturers and may impact product availability and distribution.
This white goods market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the white goods market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In June, 2023, Alcon will exhibit innovative eye care solutions at Optometry's Meeting, featuring the TOTAL30 portfolio of reusable Water Gradient lenses, bridging the comfort gap for patients. Experts will share insights and previews of upcoming innovations
- In September, 2022, Johnson & Johnson Vision Care launched ACUVUE OASYS MAX 1-DAY and ACUVUE OASYS MAX 1-Day MULTIFOCAL contact lenses with TearStable Technology and OptiBlue light filter. These innovations address digital device-related eye strain and presbyopia, offering comfort and visual clarity amid increasing screen time.
Global Colored Contact Lenses Market Scope
The global colored contact lenses market is segmented on the basis of type, distribution channel and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Visibility Tint
- Enhancement Tint
- Opaque Tint
Distribution Channel
- Optical Stores
- Retail Pharmacies
- Drugstores
- E-Commerce
Application
- With Vision Correction
- Without Vision Correction
Global Colored Contact Lenses Market Regional Analysis/Insights
The global colored contact lenses market is analysed and market size insights and trends are provided by region, country, type, distribution channel and application as referenced above.
The countries covered in the global colored contact lenses market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of the Middle East and Africa
Asia-Pacific is expected to dominate the global colored contact lenses market and is also the fastest growing region during the forecasted period of 2023 to 2030, due to its large population, rising disposable incomes, increasing cosmetic trends, and growing awareness of eye health, creating a substantial demand for colored contact lenses.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Colored Contact Lenses Market Share Analysis
The global colored contact lenses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global colored contact lenses market.
Some of the major players operating in the global colored contact lenses market are:
- Johnson & Johnson Vision Care, Inc. (U.S.)
- Alcon (Switzerland)
- Bausch + Lomb (U.S.)
- CooperVision (U.S.)
- ClearLab (Singapore)
- Cantor & Nissel Ltd. (U.K.)
- St. Shine Optical Co., Ltd. (Taiwan)
- Menicon Co., Ltd. (Japan)
- Maxvue Vision (Hong Kong)
- Dueba Corporation (South Korea)
- ColourVUE (Malaysia)
- GEO Medical (South Korea)
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