Eye Lens Market Size, Share, Growth Report 2030

Global Eye Lens Market Overview                   

The global Eye Lens market accounted for USD 1015.2 Million in 2020 and is expected to reach USD 1,416.2 Million by 2028, growing at a CAGR of around 4.1 % between 2021 and 2028.            

The eye lens is preferably used to correct refractive errors and compensate for visual deficiencies, such as myopia hypermetropia/hyperopia, presbyopia, and astigmatism. A lens helps focus light into your eye retina, the layer of light-sensitive tissue in the back of your eye. People are switching from wearing glasses to contact due to changing lifestyles and the increasing demand for innovative lenses.

The entrance of new players in the eye lens market is also set to propel the market growth. For example, in April 2016, Samsung filed a patent on smart contact lenses that can show pictures straight into the eyes of users. Using these lenses, consumers will be allowed to experience AR, with computer-created pictures. As per the patent, the lens is fitted with a camera, minuscule display, and antenna.

COVID-19 Impact Analysis:

The restrictions imposed by various nations to contain COVID had stopped the demand and supply resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand. The market would remain bullish in the upcoming year. The significant decrease in the global Eye Lens market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.  

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Growth Factors

Major factors which are driving the growth of this market government initiative, rising awareness, and enhancement of health care facilities. The global eye lens market is boosted by increasing eye issues due to elevated employment of mobiles, computers, and other electronics goods including digital gadgets. On the other hand, issues such as intense perilimbal infection, photophobia, and corneal allergy owing to incessant employment of eye lenses are accountable for hindering the development of the eye lens market.

Nonetheless, untapped techniques for curing ophthalmic disorders are expected to unlock new avenues for the eye lens market.

Report Scope:  

Segment Analysis Preview  

On the basis of application, eye lens market has been divided as lifestyle, therapeutic, cosmetic, and corrective. With over 40% share, the corrective lens segment is dominating the eye lens market. The therapeutic division is the 2nd biggest division in eye lens market and it is likely to create new avenues for the eye lens market during the forecast period.

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Key Market Players & Competitive Landscape

The major players operating Eye Lens market are Valeant Pharmaceuticals, Novartis International AG, The Cooper Companies, Inc., Menicon Group, Carl Zeiss AG, STAAR Surgical, SynergEyes Inc., Johnson and Johnson, Charenton-le-Pont, Essilor International S.A., and Abbott Medical Optics, Inc. among others.

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The global Eye Lens Market is segmented as follows:

By Lens type

• Single Vision Lens
• Bifocal & Trifocal Lens
• Plastic lens
• Soft contact lens
• Rigid Gas Permeable (RGP) Contact Lenses
• Disposable Contact Lenses

By Applications   

• Therapeutic
• Lifestyle
• Corrective
• Cosmetic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa