The contact lenses market is a significant sector in the healthcare industry, with a growing demand for various types of lenses to correct refractive errors and improve vision. Here is a comprehensive overview of the contact lenses market, including its size, growth drivers, and key players:
Market Size and Growth
Contact Lenses Market size was valued at US$ 9.67 Billion in 2023. It is expected to grow at a CAGR of 5.31% from 2024 to 2032. The contact lenses market is predicted to reach US$ 15.41 Billion by 2032.
Market Dynamics
Growth Drivers
- Increase in People with Visual Impairments: The rising prevalence of refractive errors and visual impairments is driving the demand for contact lenses. According to the Centers for Disease Control and Prevention (CDC), approximately 12 million people aged 40 and over in the United States have vision impairment, including 1 million who are blind, 3 million with vision impairment after correction, and 8 million with uncorrected refractive erro