Contact Lens Market Size

Global Contact Lens Market size was valued at USD 18.4 Billion in 2023 and is poised to grow from USD 19.98 Billion in 2024 to USD 38.66 Billion by 2032, growing at a CAGR of 8.6% in the forecast period (2025-2032).

The aging population and the rise in refractive conditions like astigmatism, myopia, presbyopia, and hyperopia are major factors augmenting global contact lens market growth. Maharashtra's 2025 plan to conduct 100,000 free cataract surgeries, including 5,000 at IGGMCH Nagpur, is an example of the growing need for easily accessible eye care among the elderly.

Growing awareness of vision health is also driving the use of corrective measures like contact lenses and early diagnosis, as evidenced by India's 2024 National Myopia Week, which reached more than 50 million people. Together with beneficial government initiatives and improvements in the delivery of eye care, these initiatives are opening new growth prospects for the global contact lens sector.

In addition, major industry players and national and regional government agencies are putting in heavy efforts to increase public awareness of the advantages of vision correction. This leads to a rise in the number of people using vision correction, including those who wear lenses, on a global scale. These factors have led to an increase in the contact lens market.

How are Smart Contact Lenses Transforming Eye Care?

In recent years, contact lens technology has advanced significantly, adding incredible new features beyond vision correction. At conferences like GITEX Global 2024 and Mobile World Congress 2025, XPANCEO, a Dubai-based tech startup, displayed a variety of smart contact lens prototypes. Without coming into contact with the subject, these prototypes use biosensors to directly measure the levels of vitamins, hormones, and glucose in tear fluid. By providing real-time pressure readings, intraocular pressure sensor-equipped lenses are also designed to help detect glaucoma early. Lenses with integrated microdisplays are another innovative concept that makes augmented reality feasible without the need for large headsets. These recent advancements follow a trend toward multifunctional contact lenses that can monitor health, enhance vision, and connect to electronic devices.