The global Therapeutic Contact Lenses Market size is expected to reach USD 7.08 billion by 2030, registering a CAGR of 7.13% from 2022 to 2030, according to a new report by Grand View Research, Inc. Therapeutic contact lenses can help repair tissue, manage pain, and maintain visual acuity, thereby surging its preference among individuals. Increasing adoption of therapeutic contact lenses among the developing economies after ocular surgery is estimated to surge the demand for therapeutic contact lenses.
The increasing prevalence of glaucoma is anticipated to surge the demand for therapeutic contact lenses during the forecast period. For instance, as per the WHO, the number of people with glaucoma disorder is projected to rise from 76 million in 2020 to 95 million across the globe by 2030. Several researchers across the countries including China, U.K., and others are focusing on developing therapeutic smart contact lenses that will monitor eye pressure and treat glaucoma.
Therapeutic lenses are used to manage a wide variety of corneal conditions including corneal erosions, corneal epithelial defects, bullous keratopathy, and postsurgical disorders such as post-laser vision correction and post-keratoplasty. Increasing application of therapeutic contact lenses in the treatment of eye disorders is anticipated to foster the overall market growth.
The effects of the ongoing COVID-19 pandemic, as well as the mitigation measures, may continue to have a material adverse impact on the market. In initial 2020, almost every major market began to implement business shutdowns, including clinics of eye care professionals, and the delay of non-urgent surgical ophthalmic procedures, leading to a global economic stoppage. Such activities have caused disruptions to the operations, supply chain, facilities, and associate workforce, hindering the supply chain of medical devices including therapeutic contact lenses.
Related Press Release@ Therapeutic Contact Lenses Market Report
List of Key Players in Therapeutic Contact Lenses Market
- Bausch & Lomb Incorporated
- Advanced Vision Technologies
- CooperVision
- VISTAKON (division of Johnson & Johnson Vision Care, Inc.)
- X-Cel Specialty Contacts
- Contamac
- Excellent Hi-Care Pvt Ltd
- Alcon
- Surgitech Innovation
- UltraVision CLPL
Therapeutic Contact Lenses Market Report Highlights
- Soft lens segment held the largest market share in 2021 as soft lenses are easier to adjust and are more comfortable than rigid lenses.
- Corneal surgery/disorders segment held significant market share in 2021 owing to the increasing number of corneal surgeries that require therapeutic contact lens for pain relief.
- E-commerce segment is anticipated to gain the highest market share during the forecast period due to the easy accessibility of contact lenses in less time via e-commerce and rising consumer preference for online shopping.
- North America was the leading region in 2021 owing to the increasing demand for therapeutic contact lens, which is used for the treatment of several ocular diseases.
- The Asia Pacific region is expected to grow at the fastest growth rate during the forecast period due to the rising number of surgeries in phototherapeutic keratectomy across several countries of Asia.
- Some of the major players include Bausch & Lomb Incorporated, Advanced Vision Technologies, Contamac, Alcon, Surgitech Innovation, Johnson & Johnson Vision Care, CooperVision, and X-Cel Specialty Contacts.
Therapeutic Contact Lenses Market Report Scope
Report Attribute
Details
Market size value in 2022
USD 4.08 billion
Revenue forecast in 2030
USD 7.08 billion
Growth rate
CAGR of 7.13% from 2022 to 2030
Base year for estimation
2021
Actual estimates/Historic data
2017 - 2020
Forecast period
2022 - 2030
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Therapeutic Contact Lenses Market Segmentation
Grand View Research has segmented the global therapeutic contact lenses market based on product type, application, distribution channel, and region:
Therapeutic Contact Lenses Product Type Outlook (Revenue, USD Million; 2017 - 2030)
- Soft Lens
- Silicon hydrogel
- Hydrogel
- Others
- Rigid Lens
Therapeutic Contact Lenses Application Outlook (Revenue, USD Million; 2017 - 2030)
- Corneal Surgery/Disorders
- Post Ocular Surgery
- Drug Delivery
- Others
Therapeutic Contact Lenses Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)
- Retail
- E-commerce
- Others
Therapeutic Contact Lenses Regional Outlook (Revenue, USD Million; 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- MEA
- South Africa
- Saudi Arabia
- UAE
