Color Contact Lenses Market Size, Share & Growth Report 2031
Color Contact Lenses Market
Segments - By Type (Visibility Tint, Enhancement Tint, Opaque Tint), By Application (With Vision Correction, Without Vision Correction) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031
Segments - By Type (Visibility Tint, Enhancement Tint, Opaque Tint), By Application (With Vision Correction, Without Vision Correction) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031
The global color contact lenses market was valued at USD 5.39 Billion in 2022and is projected to reach USD 12.61 Billion by 2031, expanding around a CAGR of 9.9% during the forecast period 2023 – 2031. In terms of volume the color contact lenses market is anticipated to grow approximately by CAGR of 9.3% over the coming years. Contact lenses serves the need to improve the use of bulky spectacles, but also deliver the added advantage of improving one’s visual appeal.
The growing modernizations in the production of colored contact lenses during the past period have steered to the use of several resources for producing colored contact lenses that serve numerous purposes. Contact lenses have been used to treat common eye illnesses, such as hypermetropia, myopia, astigmatism, presbyopia, and glaucoma.
Color Contact Lenses Market Dynamics
The major factors motivating the color contact lenses market consist of an increasing number of eye disorders, growing attractiveness of colored contact lenses over eyeglasses and the demand for well facial aesthetics between the entertainment industry and the youth.
Increasing demand for comfortable and soft color contact lens controls the sensible growth. Hydrogel has proved a hard motivation over the last few years due to its profits as related to another corresponding item. Some of the benefits are a low risk of eye infection and comfort for consumers.
Color Contact Lenses Market Segmental Outlook
On the basis of type, the global Color Contact Lenses Market is segmented as visibility tint, enhancement tint, and opaque tint. The visibility tint segment is anticipated to expand at a CAGR around of 8.7% during the forecast period as these lenses are used primarily to help the individual have better vision during insertion and removal, or if lenses are taken out.
The enhancement tint segment is estimated to hold 1/4th of share of the market in 2020 as these lenses are designed to enhance the regular eye color without converting the natural shade.
Based on application, the market is segmented into with vision correction, without vision correction. With vision correction account for the major share as it is used to improve the appearance of a disfigured cornea, crystalline lens, iris, or sclera. Any part of the eye may become disfigured due to trauma, ocular disease, systemic health problems, or congenital defects. The color contact lenses with vision correction may also be used to disguise an enucleated eye, to patch an eye during vision therapy, to reduce glare or photophobia or to treat intractable binocular diplopia.
Definitions By Application
With Vision Correction With Vision Correction is a prosthetic contact lenses define as polymethylmethacrylate (PMMA) contact lenses, scleral contact lenses, rigid gas permeable (RGP) contact lenses or soft contact lenses. A prosthetic contact lens is a painted or tinted contact lens used to improve the appearance of a disfigured eye or to help correct the vision of a poorly functioning eye. The tinted contact lenses term is used for referring both type of contact lenses including prosthetic and cosmetic contact lenses.
Prosthetic contact lenses may be used to improve the appearance of a disfigured cornea, crystalline lens, iris, or sclera. Any part of the eye may become disfigured due to trauma, ocular disease, systemic health problems, or congenital defects. The color contact lenses with vision correction may also be used to disguise an enucleated eye, to patch an eye during vision therapy, to reduce glare or photophobia or to treat intractable binocular diplopia.
Without Vision Correction Without Vision Correction is known as Cosmetic contact lenses, also called Plano or zero-power lenses generally used for fashion statement. But this specific fashion statement can have some serious health risks and disadvantages. The lenses have been bought by individuals without prescription at beach shops, boutiques, tattoo parlors and other unprofessional retail sellers.
There have been many serious cases of youths who almost lost their vision as a result of inappropriate use of these lenses. Youths are major buying customers of these lenses. Though, many teens do not take necessary precautions with the lenses and that is why they develop eye problems. Cosmetic lenses may be used to change or enriched an eye color for fun or ease of heterochromia congenital or acquired or simply for improved lenses handling purposes particularly for hypermetropes.
Color Contact Lenses Market Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is a promising region for the market. The region constituted approximately 37.2% share of the market in 2019. The market in the region is projected to expand at a CAGR around 8.9% during the forecast period due to the dense presence of customers of this product with high disposable income, increasing focus of players in development of color contact lenses, rise in government initiatives are some of the factors expected to boost the market growth on the region.
Key Benefits for Industry Participants & Stakeholders
In-depth Analysis of the Global Color Contact Lenses Market
Historical, Current and Projected Market Size in terms of Value and volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Color Contact Lenses Market Performance
Key players in the market include Coopervision, Alcon (Ciba Vision), Bausch & Lomb, Menicon Johnson & Johnson, Carl Zeiss. These companies are considered manufacturers of Color Contact Lenses based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Color Contact Lenses is added in the company’s capacity.
In 2018, Alcon launched new contact lenses to increased market segment of the company. As consumers ae interested to enhancing the eyes color company launches this contact lenses to create the image in the market.
In 2019, Bausch & Lomb expanded their business by adding biotrue which is daily disposable contact lenses. This action helps to increase the demand for the daily exposable contact lenses which is comfortable for the customers.
Chapter 1 Executive Summary Chapter 2 Assumptions and Acronyms Used Chapter 3 Research Methodology Chapter 4 Color Contact Lenses Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Color Contact Lenses Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Color Contact Lenses Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Color Contact Lenses Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Color Contact Lenses Market Size & Forecast, 2017-2027 4.5.1 Color Contact Lenses Market Size and Y-o-Y Growth 4.5.2 Color Contact Lenses Market Absolute $ Opportunity 4.6 Pricing Analysis & Forecast, By Type, 2017-2027 Chapter 5 Global Color Contact Lenses Market Analysis and Forecast By Type 5.1 Introduction 5.1.1 Key Market Trends & Growth Opportunities By Type 5.1.2 Basis Point Share (BPS) Analysis By Type 5.1.3 Absolute $ Opportunity Assessment By Type 5.2 Color Contact Lenses Market Size & Volume Forecast By Type 5.2.1 Visibility Tint 5.2.2 Enhancement Tint 5.2.3 Opaque Tint 5.3 Market Attractiveness Analysis By Type Chapter 6 Global Color Contact Lenses Market Analysis and Forecast By Application 6.1 Introduction 6.1.1 Key Market Trends & Growth Opportunities By Application 6.1.2 Basis Point Share (BPS) Analysis By Application 6.1.3 Absolute $ Opportunity Assessment By Application 6.2 Color Contact Lenses Market Size & Volume Forecast By Application 6.2.1 With Vision Correction 6.2.2 Without Vision Correction 6.3 Market Attractiveness Analysis By Application Chapter 7 Global Color Contact Lenses Market Analysis and Forecast by Region 7.1 Introduction 7.1.1 Key Market Trends & Growth Opportunities by Region 7.1.2 Basis Point Share (BPS) Analysis by Region 7.1.3 Absolute $ Opportunity Assessment by Region 7.2 Color Contact Lenses Market Size Forecast by Region 7.2.1 North America 7.2.2 Europe 7.2.3 Asia Pacific 7.2.4 Latin America 7.2.5 Middle East & Africa (MEA) 7.3 Market Attractiveness Analysis by Region Chapter 8 Coronavirus Disease (COVID-19) Impact 8.1 Introduction 8.2 Current & Future Impact Analysis 8.3 Economic Impact Analysis 8.4 Government Policies 8.5 Investment Scenario Chapter 9 North America Color Contact Lenses Analysis and Forecast 9.1 Introduction 9.2 North America Color Contact Lenses Market Size Forecast by Country 9.2.1 U.S. 9.2.2 Canada 9.3 Basis Point Share (BPS) Analysis by Country 9.4 Absolute $ Opportunity Assessment by Country 9.5 Market Attractiveness Analysis by Country 9.6 North America Color Contact Lenses Market Size & Volume Forecast By Type 9.6.1 Visibility Tint 9.6.2 Enhancement Tint 9.6.3 Opaque Tint 9.7 Basis Point Share (BPS) Analysis By Type 9.8 Absolute $ Opportunity Assessment By Type 9.9 Market Attractiveness Analysis By Type 9.10 North America Color Contact Lenses Market Size & Volume Forecast By Application 9.10.1 With Vision Correction 9.10.2 Without Vision Correction 9.11 Basis Point Share (BPS) Analysis By Application 9.12 Absolute $ Opportunity Assessment By Application 9.13 Market Attractiveness Analysis By Application Chapter 10 Europe Color Contact Lenses Analysis and Forecast 10.1 Introduction 10.2 Europe Color Contact Lenses Market Size Forecast by Country 10.2.1 Germany 10.2.2 France 10.2.3 Italy 10.2.4 U.K. 10.2.5 Spain 10.2.6 Russia 10.2.7 Rest of Europe 10.3 Basis Point Share (BPS) Analysis by Country 10.4 Absolute $ Opportunity Assessment by Country 10.5 Market Attractiveness Analysis by Country 10.6 Europe Color Contact Lenses Market Size & Volume Forecast By Type 10.6.1 Visibility Tint 10.6.2 Enhancement Tint 10.6.3 Opaque Tint 10.7 Basis Point Share (BPS) Analysis By Type 10.8 Absolute $ Opportunity Assessment By Type 10.9 Market Attractiveness Analysis By Type 10.10 Europe Color Contact Lenses Market Size & Volume Forecast By Application 10.10.1 With Vision Correction 10.10.2 Without Vision Correction 10.11 Basis Point Share (BPS) Analysis By Application 10.12 Absolute $ Opportunity Assessment By Application 10.13 Market Attractiveness Analysis By Application Chapter 11 Asia Pacific Color Contact Lenses Analysis and Forecast 11.1 Introduction 11.2 Asia Pacific Color Contact Lenses Market Size Forecast by Country 11.2.1 China 11.2.2 Japan 11.2.3 South Korea 11.2.4 India 11.2.5 Australia 11.2.6 South East Asia (SEA) 11.2.7 Rest of Asia Pacific (APAC) 11.3 Basis Point Share (BPS) Analysis by Country 11.4 Absolute $ Opportunity Assessment by Country 11.5 Market Attractiveness Analysis by Country 11.6 Asia Pacific Color Contact Lenses Market Size & Volume Forecast By Type 11.6.1 Visibility Tint 11.6.2 Enhancement Tint 11.6.3 Opaque Tint 11.7 Basis Point Share (BPS) Analysis By Type 11.8 Absolute $ Opportunity Assessment By Type 11.9 Market Attractiveness Analysis By Type 11.10 Asia Pacific Color Contact Lenses Market Size & Volume Forecast By Application 11.10.1 With Vision Correction 11.10.2 Without Vision Correction 11.11 Basis Point Share (BPS) Analysis By Application 11.12 Absolute $ Opportunity Assessment By Application 11.13 Market Attractiveness Analysis By Application Chapter 12 Latin America Color Contact Lenses Analysis and Forecast 12.1 Introduction 12.2 Latin America Color Contact Lenses Market Size Forecast by Country 12.2.1 Brazil 12.2.2 Mexico 12.2.3 Rest of Latin America (LATAM) 12.3 Basis Point Share (BPS) Analysis by Country 12.4 Absolute $ Opportunity Assessment by Country 12.5 Market Attractiveness Analysis by Country 12.6 Latin America Color Contact Lenses Market Size & Volume Forecast By Type 12.6.1 Visibility Tint 12.6.2 Enhancement Tint 12.6.3 Opaque Tint 12.7 Basis Point Share (BPS) Analysis By Type 12.8 Absolute $ Opportunity Assessment By Type 12.9 Market Attractiveness Analysis By Type 12.10 Latin America Color Contact Lenses Market Size & Volume Forecast By Application 12.10.1 With Vision Correction 12.10.2 Without Vision Correction 12.11 Basis Point Share (BPS) Analysis By Application 12.12 Absolute $ Opportunity Assessment By Application 12.13 Market Attractiveness Analysis By Application Chapter 13 Middle East & Africa (MEA) Color Contact Lenses Analysis and Forecast 13.1 Introduction 13.2 Middle East & Africa (MEA) Color Contact Lenses Market Size Forecast by Country 13.2.1 Saudi Arabia 13.2.2 South Africa 13.2.3 UAE 13.2.4 Rest of Middle East & Africa (MEA) 13.3 Basis Point Share (BPS) Analysis by Country 13.4 Absolute $ Opportunity Assessment by Country 13.5 Market Attractiveness Analysis by Country 13.6 Middle East & Africa (MEA) Color Contact Lenses Market Size & Volume Forecast By Type 13.6.1 Visibility Tint 13.6.2 Enhancement Tint 13.6.3 Opaque Tint 13.7 Basis Point Share (BPS) Analysis By Type 13.8 Absolute $ Opportunity Assessment By Type 13.9 Market Attractiveness Analysis By Type 13.10 Middle East & Africa (MEA) Color Contact Lenses Market Size & Volume Forecast By Application 13.10.1 with Vision Correction 13.10.2 without Vision Correction 13.11 Basis Point Share (BPS) Analysis By Application 13.12 Absolute $ Opportunity Assessment By Application 13.13 Market Attractiveness Analysis By Application Chapter 14 Competition Landscape 14.1 Color Contact Lenses Market: Competitive Dashboard 14.2 Global Color Contact Lenses Market: Market Share Analysis, 2019 14.3 Global Color Contact Lenses Market: Pricing Analysis, by Manufacturer 2019 14.4 Company Profiles (Details – Overview, Financials, Developments, Strategy) 14.4.1 Coopervision 14.4.2 Alcon (Ciba Vision) 14.4.3 Bausch & Lomb 14.4.4 Menicon 14.4.5 Johnson & Johnson 14.4.6 Carl Zeiss
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The base year considered for the global color contact lenses market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.
The market is expected to decline between 2019 and 2020 owing to the slight impact of COVID-19 pandemic on the color contact lenses market. The ongoing research of color contact lenses for COVID-19 string is expected to decrease the production color contact lenses product.
Growth in number of people with eye disorders, increasing acceptance of silicone hydrogel contact lenses, and gaining popularity of contact lenses over spectacles are key factors driving the color contact lenses market growth.
In addition to market size (in US$ Million) and Company Market Share (in % for base year 2019), other data such as color contact lenses price by manufacturers, type, application (estimated), macro-economic factors are provided, is available in final report.
According to this Growth Market Reports report, the market from color contact lenses is likely to register a CAGR of approximately 9.9% during forecast period 2020-2027, with an anticipated valuation of USD 8,670.44 million by the end of the 2027.