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Contact Lenses Market to Reach Value of US$1 14.5 Bn before 2031: TMR Study
.xxx.Wilmington (Delaware the United States of America) 13 July 2022 (GLOBE NEWSWIRE). Transparency Market Research Inc. -- The study of the contact lens market has revealed that there has been substantial rise in the revenue because of an increase in eye diseases and vision impairments. In 2021 the market for contacts was estimated at US$ 8.6 Bn. This is due to the increasing prevalence of myopia across the world. By 2031, the market could reach US$ 14.5 Billion, and there are huge growth opportunities coming from Asia Pacific and North America market.
The users of contact lenses all over the world observed by the experts of the study that examined the contact lenses market, continue to search for satisfaction, ease of use, and effectiveness when it comes to meeting their demands. The best contact lenses aim at meeting all these user requirements. These features are highly valued by users who engage in water activities. The factor has driven need for contact design advancements particularly in toric lenses. They are primarily utilized to treat moderate and mild corneal astigmatism.
Soft contact lenses are demanded and major manufacturers are looking to broaden their range of this type of lenses. Based on a research study, the market for contact lenses is expected to increase revenue by focusing on custom solutions to meet the specific requirements of the patients.
The Contact Lenses Market Study Principal Findings
The widespread use of contact lenses in the treatment of eye Diseases in order to create revenue streams: Rise in number of persons, across the globe, with eye impairment and eye disease has created an enormous potential for firms on the market for contact lenses. The prevalence of visual impairment in adults has led to significant revenue streams. Contact lenses are proved to be extremely effective in helping to correct these ailments.
A significant proportion of people suffering from chronic diseases that affect the elderly can open up amazing avenues. Eye illnesses that result from old the age of 50 is projected to rise dramatically over the coming decades. The WHO along with other international agencies have released statistics showing that there will be a dramatic increase in the number of people over 50 before 2050. Because contact lenses have greatly increased the quality of their life, there's a vast market in the market. Myopia's prevalence in particular is likely to create huge profit opportunities for the industry's players within the market for contact lenses.
Contact Lenses Market: Key Drivers
The market for contact lens is experiencing rapid growth due to an increasing rate of eye diseases and impaired vision. Different types of contact lenses have proved effective in correcting the problem.
In the past few years, the weight of astigmatism have increased significantly, which is expected to generate new revenue streams in contact lenses market. Additionally, prospects have been in the ascendancy due to the rising the use of technology for contact lenses in therapeutic applications.
Contact Lenses Market: Regional Growth Dynamics

The size of the Asia Pacific contact lenses market is predicted to increase at a high rate during 2022-2031. Rising prevalence of vision impairment and eye disease in the region across all age-groups is expected to boost revenue streams. The rapid technological advances with regard to contact lenses over the past time has increased the chances of this market particularly for China, Japan, and India.
Colored Contact Lenses
The North American market for contact lenses is projected to contribute a substantial portion of global sales during the time frame forecast. Due to the high market, there are numerous opportunities available in the market.


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