Global Demand for Therapeutic Contact Lenses Market to Incur Considerable Upsurge During 2022– 2030: Grand View Research Inc.

 Therapeutic Contact Lenses Market Growth & Trends

The global therapeutic contact lenses market size is expected to reach USD 7.08 billion by 2030, registering a CAGR of 7.13% from 2022 to 2030, according to a new report by Grand View Research, Inc. Therapeutic contact lenses can help repair tissue, manage pain, and maintain visual acuity, thereby surging its preference among individuals. Increasing adoption of therapeutic contact lenses among the developing economies after ocular surgery is estimated to surge the demand for therapeutic contact lenses. 

The increasing prevalence of glaucoma is anticipated to surge the demand for therapeutic contact lenses during the forecast period. For instance, as per the WHO, the number of people with glaucoma disorder is projected to rise from 76 million in 2020 to 95 million across the globe by 2030. Several researchers across the countries including China, U.K., and others are focusing on developing therapeutic smart contact lenses that will monitor eye pressure and treat glaucoma. 

Therapeutic lenses are used to manage a wide variety of corneal conditions including corneal erosions, corneal epithelial defects, bullous keratopathy, and postsurgical disorders such as post-laser vision correction and post-keratoplasty. Increasing application of therapeutic contact lenses in the treatment of eye disorders is anticipated to foster the overall market growth. 

The effects of the ongoing COVID-19 pandemic, as well as the mitigation measures, may continue to have a material adverse impact on the market. In initial 2020, almost every major market began to implement business shutdowns, including clinics of eye care professionals, and the delay of non-urgent surgical ophthalmic procedures, leading to a global economic stoppage. Such activities have caused disruptions to the operations, supply chain, facilities, and associate workforce, hindering the supply chain of medical devices including therapeutic contact lenses. 

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Therapeutic Contact Lenses Market Report Highlights

• Soft lens segment held the largest market share in 2021 as soft lenses are easier to adjust and are more comfortable than rigid lenses.
• Corneal surgery/disorders segment held significant market share in 2021 owing to the increasing number of corneal surgeries that require therapeutic contact lens for pain relief.
• E-commerce segment is anticipated to gain the highest market share during the forecast period due to the easy accessibility of contact lensesin less time via e-commerce and rising consumer preference for online shopping.
• North America was the leading region in 2021 owing to the increasing demand for therapeutic contact lens, which is used for the treatment of several ocular diseases.
• The Asia Pacific region is expected to grow at the fastest growth rate during the forecast period due to the rising number of surgeries in phototherapeutic keratectomy across several countries of Asia.
• Some of the major players include Bausch & Lomb Incorporated, Advanced Vision Technologies, Contamac, Alcon, Surgitech Innovation, Johnson & Johnson Vision Care, CooperVision, and X-Cel Specialty Contacts. 

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Therapeutic Contact Lenses Market Segmentation 

Grand View Research has segmented the global therapeutic contact lenses market based on product type, application, distribution channel, and region:

Therapeutic Contact Lenses Product Type Outlook (Revenue, USD Million; 2017 - 2030)

• Soft Lens
  • Silicon hydrogel
  • Hydrogel
  • Others
• Rigid Lens

Therapeutic Contact Lenses Application Outlook (Revenue, USD Million; 2017 - 2030)

• Corneal Surgery/Disorders
• Post Ocular Surgery
• Drug Delivery
• Others

Therapeutic Contact Lenses Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Retail
• E-commerce
• Others

Therapeutic Contact Lenses Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• MEA
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in Therapeutic Contact Lenses Market

• Bausch & Lomb Incorporated
• Advanced Vision Technologies
• CooperVision
• VISTAKON (division of Johnson & Johnson Vision Care, Inc.)
• X-Cel Specialty Contacts
• Contamac
• Excellent Hi-Care Pvt Ltd
• Alcon
• Surgitech Innovation
• UltraVision CLPL

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.