DUBLIN--(BUSINESS WIRE )--The "Contact Lenses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global contact lenses market size reached US$ 7.6 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 10.8 Billion by 2027, exhibiting a CAGR of 6.03% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Contact lenses are medical devices placed on the tear film covering of the cornea to improve the vision of individuals with refractive errors, such as myopia, hyperopia, astigmatism, and presbyopia. They are made using thin, transparent plastic disks and can be given a slight tint of color to enhance the hues and make handling easier.
They usually require a prescription from the eye specialist to prevent future complications, including infection, inflammation, and vision loss or blindness. Nowadays, several companies worldwide are offering customized lenses in various designs, depending on their intended purpose.
The increasing incidence of common eye disorders and diseases represents one of the key factors bolstering the market growth. As vision grows weaker with age, the growing geriatric population worldwide is positively influencing the demand for contact lenses for vision correction around the world.
Apart from this, contact lenses offer several advantages over eyeglasses, including better peripheral vision, unobstructed field of view, and less likelihood of getting splattered. This, along with the rising participation of individuals in sports and physical activities, is increasing the adoption of contact lenses to minimize the risk of injury, provide better compatibility with safety equipment, and enhance the performance of both individuals and athletes.
Moreover, special lenses have been introduced to slow the progression of nearsightedness in children. They assist in treating keratoconus and other corneal irregularities. Furthermore, the leading players are manufacturing ultra-violet (UV) inhibiting lenses that protect eyes from sun rays, which can cause cataracts and other eye problems. They are also launching innovative colored lenses for cosmetic purposes, which is anticipated to stimulate the growth of the market.
Key Questions Answered in This Report:
10 Market Breakup by Distribution Channel
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900