Disposable Contact Lenses Market Size, Share, Industry Trends Segmentation Analysis by Type (Daily Disposable Lenses, Weekly Disposable Lenses, Monthly Disposable Lenses) by Application (Corrective Lenses, Therapeutic Lenses, Cosmetic Lenses) Growth Outlook, Demand, Regional Insights, and Forecast (2024-2032)

Segmentation Analysis

By Material, Depending on the material, the silicone hydrogel category held a dominant market share of approximately 89% in terms of revenue in 2023 and is expected to increase further in the upcoming years. The utilization of these lenses offers a plethora of advantages. Compared to all the other variations on the market, they offer superior flexibility and decent comfort.

By Design, There is a greater market for spherical lenses. It is anticipated that the sales of this lens will yield a higher revenue than any other segment. In the past, this category has generated the most income, with the biggest market share of almost 61%. In the upcoming years, there is anticipated to be a continuous increase in demand for multifocal lenses. These lenses are mostly used to treat eye diseases in the elderly population.

By Application, In the upcoming years, the corrective lens category is anticipated to hold the greatest market share based on application. Degenerated revenue share was approximately 44% in the past, and growth is anticipated in the upcoming years. The spherical, bifocal, and multifocal lenses are examples of corrective lenses. In addition to the corrective lens market, the therapeutic market will expand significantly in the upcoming years. The demand for cosmetic lenses, particularly in developed countries, will present chances for the market to rise in the upcoming years in order to enhance the aesthetic appeal off the ice.

By Distribution Channel, The retail segment, which formerly held a market share of roughly 61% in terms of revenue, is anticipated to dominate the market in the years to come. The demand for contact lenses through this segment will propel market expansion in the next years. The retail stores sell reasonably priced contact lenses that are marked down significantly.

The retail segment, which formerly held a market share of roughly 61% in terms of revenue, is anticipated to dominate the market in the years to come. The demand for contact lenses through this segment will propel market expansion in the next years. The retail stores sell reasonably priced contact lenses that are marked down significantly.

Competitive Landscape

Major players in the disposable contact lenses market include:

• Alcon Company
• Bausch Health Companies Inc.
• Bausch Lomb
• Cooper Vision
• Hoya Corporation
• Johnson & Johnson
• Novartis International AG
• Synerg Eyes
• The Cooper Companies Inc.
• ZEISS International

Recent Development

• Bausch + Lomb Corporation publicly announced INFUSE Multifocal in silicone hydrogel contact lenses in June 2023 in the category of daily disposable. This new product uses the newest material made by ProBalance Technology and a 3-Zone Progressive design that offers sharp vision with seamless transitions between near, distance, and intermediate vision for patients with presbyopia.
• Alcon launched a disposable lens product for astigmatism patients, named ‘Precision 1’, in January 2022. The lenses are designed for long-lasting comfort, with a thin and precise tear film on the surface of the lens. There are markings on the lens, aiding the user for wearing lenses without any problem.
• Johnson & Johnson Vision introduced the BUBBLE POP colored contact lenses collection designed especially for the Indian youth population that follows fashion trends as it evolves into adult life (April 2022).

Market Dynamics

Drivers

• Prevalence of Vision Disorders: Increase in myopia, hyperopia, astigmatism and presbyopia is increasing the demand for vision correction solutions.
• Advances in lens technology: Innovations such as silicone hydrogel lenses that offer better oxygen permeability and comfort are driving the market growth.
• Growing Awareness and Acceptance: Increased awareness of the hygienic and convenience benefits of disposable lenses has increased adoption.
• Rising disposable incomes: Higher disposable incomes, especially in developing economies, allow more consumers to purchase disposable lenses.
• Population aging: The growing elderly population, which often requires vision correction, is driving the market demand.

Limitations

• High cost: The higher cost of disposable lenses compared to traditional lenses can be a barrier, especially in price-sensitive markets.
• Environmental Issues: Environmental issues related to the disposal of plastic lenses and packaging materials may hinder the growth of the market.
• Regulatory Challenges: Stringent regulatory requirements for medical devices, including contact lenses, can present market entry and compliance challenges.

Opportunities

• Emerging Markets: Untapped markets in developing regions offer significant growth potential due to increasing health awareness and disposable income.
• Growth of online shopping: The expansion of online sales channels offers opportunities for greater reach and convenience for consumers.
• Technical Innovations: Continuous research and development and introduction of improved materials and designs can attract more users.

Challenges

• Competition: The market is very competitive with many players offering a wide range of products, which makes it difficult to stand out.
• Customer Education: Educating consumers about the proper use and benefits of disposable lenses remains a challenge.
• Side effects: Possible side effects such as dry eyes and allergies may scare some users. Overall, the disposable contact lens market is expected to grow due to advancements in technology, increasing consumer awareness, and increasing prevalence of visual disorders. However, challenges such as high costs and environmental issues must be overcome to continue this growth path.

Regional Analysis

Disposable contact lenses are a fashion trend in the Asia Pacific region.

There is a greater demand for disposable contact lenses in the Asia Pacific region. These lenses are well-liked in China and Japan because of their interchangeable colour options. In some nations, there are fashion fads where people change the colour of their eyes to fit the subject of a festival or event. Another element driving up the disposable contact lens industry in the region is rising disposable income.

North American market is influenced by the adverts and increasing awareness of eye health.

The market for disposable contact lenses is expanding significantly in North America. Due to the promotion of these products by celebrities in films and advertisements, changes in fashion and lifestyle, and the high affluence of the people living in these nations, these contacts are witnessing a growth in popularity. The market is expanding as a result of growing awareness of eye safety and protection.

Segments Covered in the Disposable Contact Lenses Market Report

By Type

• Daily Disposable Lenses
• Weekly Disposable Lenses
• Monthly Disposable Lenses

By Material

• Silicone Hydrogel
• Hydrogel

By Usage

• Daily Disposable
• Frequent/Planned/Extended Wear

By Application

• Corrective Lenses
• Therapeutic Lenses
• Cosmetic Lenses

By Distribution

• Retail Optical Store
• Hospitals & Ophthalmology Clinics
• Online Store

By Design

• Spherical
• Toric
• Multifocal

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Conclusion

The disposable contact lenses market is poised for significant growth, driven by technological advancements, increasing demand for visual correction, and the rising popularity of cosmetic lenses. While challenges such as regulatory hurdles and product complications exist, ongoing research and innovation promise to create new opportunities for market expansion.