Contact Lenses Market Size Worth $17.72 Billion By 2025

Monday 20 November 2017, Amsterdam

The global contact lenses market  is anticipated to reach USD 17.72 billion by 2025, according to a new report by Grand View Research, Inc. The rising adoption of contact lenses by consumers and use of innovative materials for manufacturing contact lenses are the key drivers of the market.

The growing aging population and rising tendency of youngsters to enhance their aesthetic appearance are some of the key factors that are expected to drive the demand for contact lenses. The improvement in theoverall economy and the rising disposable income around the globe are additional factors driving the market growth.

The contact lenses market can be categorized, based on products, into Rigid Gas Permeable (RGP) contact lenses, soft contact lenses, and hybrid contact lenses. Soft contact lenses are made up of flexible and soft plastics, such as silicone hydrogel, which provide easy adaptability and enhanced comfort to the eye. They also permit oxygen to pass through the wearer’s cornea and are used extensively for ametropia correction.

Thus, the market for soft lenses is anticipated to grow at a faster pace over the forecast period. Further key findings from the report suggest that hybrid contact lens segment is expected to portray the highest growth over the forecast period. Corrective contact lenses are widely used to correct refractive errors and compensate for visual deficiencies such as myopia, hypermetropia/hyperopia, presbyopia, and astigmatism.