Therapeutic Contact Lenses Market Size Worth $7.08 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 16, 2022 /PRNewswire/ -- 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.

Key Insights & Findings from the report:

• 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 lenses in 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.

Read 120-page market research report, "Therapeutic Contact Lenses Market Size, Share & Trends Analysis Report By Product (Soft Lens, Rigid Lens), By Application (Corneal Surgery/Disorders, Post Ocular Surgery, Drug Delivery), By Distribution Channel, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Therapeutic Contact Lenses Market Growth & Trends

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.

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 Market - Product Type Outlook (Revenue, USD Million; 2017 - 2030)

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

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

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

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

• Retail
• E-commerce
• Others

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

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• 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

Check out more related studies published by Grand View Research:

• Refractive Surgery Devices Market - The global refractive surgery devices market size is expected to reach USD 290.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.7% from 2021 to 2028. As a result of the COVID-19 pandemic, consumers have started spending more time on digital devices. The trend of working from home has contributed to an increase in eyestrain, dry eye, and myopia.
• Ophthalmic Lasers Market - The global ophthalmic lasers market size is anticipated to reach USD 1.6 billion by 2025, according to a new report by Grand View Research, Inc. Ophthalmic disorders are rising significantly on a global level. This rise in the prevalence rate has led to high growth of ophthalmic lasers market.
• Dry Eye Treatment Devices Market - The global dry eye treatment devices market size is estimated to reach USD 414.2 million by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.3% over the forecast period. The increasing demand for targeted, non-invasive, faster, and patient compliant treatment methods to alleviate dry eye symptoms are the factors expected to drive the market growth during the forecast period.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo:https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 

SOURCE Grand View Research, Inc.