According to the latest report published by Acute Market Reports “Cosmetic Contact Lenses Market – (Lense Type – Spherical Lenses, Toric Lenses, Multifocal Lenses, Conventional Lenses and Others): Market Growth, Future Prospects and Competitive Analysis, 2021-2029,” the market was valued at USD 1.76 Bn in 2020, and is expected to reach USD 3.14 Bn by 2029, expanding at a CAGR of 6.6% from 2021 to 2029.
Browse the full report Cosmetic Contact Lenses Market: Market Growth, Future Prospects and Competitive Analysis, 2021-2029 at http://www.acutemarketreports.com/report/cosmetic-contact-lenses-market
Market Insights
The global cosmetic contact lenses market is witnessing a significant upswing in light of the growing demand for altering aesthetic appearance. The use of cosmetic contact lenses is surging in the entertainment sector, and perpetual innovation in the nature of products and comfort in usage are the key factors contributing to the demand for cosmetic contact lenses. Asia-Pacific is the most significant market for cosmetic contact lenses. The East Asian countries such as Japan, China, South Korea, and Singapore are the key countries with highest contribution in the global market. Rising awareness related to aesthetic surgeries and cosmetic enhancement devices in young population, rising market penetration of cosmetic contact lenses due to online availability and regulatory approval for online sales and non-prescription sales of cosmetic contact lenses. Latin America and Middle East & Africa are expected to witness the highest growth rate due to high disposable income, increasing prevalence of ophthalmic disorders and being one of the major cosmetic surgery destinations in the world.
Among the type of lenses, spherical contact lenses held the largest market in the global cosmetic contact lenses market. The factors driving the spherical contact lenses include the high prevalence of myopia and hyperopia. Spherical lenses are the most prescribed lenses in case of myopia and hyperopia. Toric lenses are expected to grow at a highest growth rate during the forecast period. Toric lenses have a design feature that enables the lens to rotate to the proper orientation on the cornea so the power meridians of the lens align with the appropriate meridians of the eye for clear vision. With the increasing cases of astigmatism and the growing trends of cosmetic contact lenses, the demand for toric cosmetic contact lenses is surging substantially.
Despite consolidation in developed markets of North America and West Europe, the developing markets of Asia-Pacific are scattered with presence of local players. Key players in the global cosmetic contact lenses market include Alcon, Johnson & Johnson, Bausch & Lomb and others. Other notable players in this market include Nidek, Hoya, Iridex, Carl Zeiss, Blanchard, and several others.
