- In October 2023, Alcon introduced the TOTAL30 Multifocal contact lens, specifically designed for individuals with presbyopia. This innovative lens offers improved visual clarity across varying distances, catering to the specific needs of presbyopia patients. In addition, it is engineered to enhance both comfort and vision quality, providing a long-lasting and comfortable wear experience for users
- In October 2023, XPANCEO, a deep tech startup, secured $40 million in a seed funding round to create the first contact lenses equipped with augmented reality (AR) capabilities. The funding was led by Opportunity Ventures (Asia), based in Hong Kong. The funds will be used to develop the next prototype, which seeks to combine multiple features into a single device
- In June 2023, Bausch + Lomb unveiled the U.S. launch of Infuse Multifocal daily disposable lenses, made from silicone hydrogel (SiHy). These advanced lenses incorporate ProBalance technology, which is designed to maintain optimal comfort throughout the day by supporting the eye's natural moisture balance. Tailored for patients with presbyopia, the lenses address their unique vision requirements by providing clear and stable vision at multiple distances
- In March 2023, The Cooper Companies Inc. introduced its CooperVision MyDay Energys lenses to the U.S. market. These lenses are specifically designed to address the growing issue of digital eye strain, a common condition caused by prolonged screen time. With advanced technology that reduces eye fatigue and discomfort, the MyDay Energys lenses aim to provide relief for individuals experiencing digital eye strain in today's increasingly digital world
- In November 2022, Menicon Co., Ltd. secured approval from China's National Medical Products Administration (NMPA) for its Menicon Z Night, an orthokeratology lens designed to correct vision overnight. This regulatory approval marks a key milestone for the company, allowing it to expand its medical device offerings in the Chinese market. Menicon aims to leverage this approval to boost sales and strengthen its position within China’s growing eye care industry
Frequently Asked Questions
The market is segmented based on Segmentation, By Model (Daily Wear Contact Lenses, Extended Wear Contact Lenses, and Traditional Wear Contact Lenses), Design (Spherical Contact Lenses, Toric Contact Lenses, Multifocal Contact Lenses, Monovision Contact Lenses, and Cosmetic Contact Lenses), Material (Silicone Hydrogel Contact Lenses, Hydrogel Contact Lenses, Hybrid Contact Lenses, Gas-Permeable Contact Lenses, and Polymethyl Methacrylate Contact Lenses), Color Variation (Opaque Contact Lenses, Enhancers/Tinted Contact Lenses, and Visibility Tinted Contact Lenses), Distribution Channel (Retail Stores, Hospitals and Clinics, and E-Commerce), Application (Conventional Contact Lenses, Orthokeratology Contact Lenses, and Decorative (Plano) Contact Lenses) – Industry Trends and Forecast to 2031
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The Global Contact Lenses Market size was valued at USD 13.42 USD Billion in 2023.
The Global Contact Lenses Market is projected to grow at a CAGR of 5.7% during the forecast period of 2024 to 2031.
The major players operating in the market include Bausch & Lomb orporated, Alcon Vision LLC, The Cooper Companies , Johnson & Johnson Services , Surgical Vision , Carl Zeiss AG, Contamac, Essilor, Hoya Corporation, Hydrogel Vision Corporation, STAAR SURGICAL, SynergEyes, BenQ Materials Corp, Menicon Co. , Seed Co Limited, X,Cel Specialty Contacts, Bausch Health Companies , Novartis AG, Abbott.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
