The global color contact lenses market was valued at USD 4,067.17 Million in 2019 and is projected to reach USD 8,670.44 Million by 2027, expanding around a CAGR of 9.9% during the forecast period. 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.
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.
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.
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.
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.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers volume details of products.
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.
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.
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.
With vision correction are the key end-user that are driving the color contact lenses market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
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.
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.
Major Manufactures include, Coopervision, Alcon (Ciba Vision), Bausch & Lomb, Menicon Johnson & Johnson, Carl Zeiss.
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