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Contact and Intraocular Lenses Market size was valued at USD 9.56 billion in 2022 and is poised to grow from USD 10.23 billion in 2023 to USD 17.58 billion by 2031, at a CAGR of 7.01% in the forecast period (2024-2031).

The contact and intraocular lenses market is almost consolidated with a few major market players accounting for a notable market share. contact and intraocular lens companies are penning collaborations and partnerships with government and public health organisations to increase awareness regarding eye disorders. contact and intraocular lenses market players are also focusing on mergers and acquisitions to maximise their business reach. Product innovation is an area where established as well as new companies will need to focus if they want to stand out in the competitive landscape. The development of next-generation multifocal lenses will allow companies to expand their product portfolio and boost revenue generation potential in the long run. 'Physiol', 'Lenstek Inc.', 'Alcon', 'Johnson & Johnson Services Inc.', 'Nidek Co. Ltd.', 'EyeKon Medical Inc.', 'HumanOptics AG', 'Bausch & Lomb Incorporated', 'Staar Surgical', 'Carl Zeiss Meditec AG', 'Hoya Corporation', 'The Cooper Companies Inc.'

Older people are more at risk of developing vision-related disorders and diseases especially if they have diabetes. Most cataract surgeries are performed on seniors and this is why they are prominently driving the demand for contact and intraocular lenses.

Development of Advanced Lenses: UV lenses, multifocal lenses, coloured lenses, and disposable lenses are some advanced types of lenses that are gaining popularity around the world. contact and intraocular lens companies are continually investing in the research and development of new lens technologies to widen their customer base and maximise their business potential in the future.

North America accounts for a notable share of the contact and intraocular lenses market at present. The high spending potential of people in this region and the presence of a developed healthcare infrastructure are majorly contributing to the rising sales of contact and intraocular lenses in this region. The United States is forecasted to be the top market for contact and intraocular lens suppliers in this region. Growing launches of new types of lenses in North America and rising spending on ophthalmic care are also factors that could provide new opportunities for market growth in this region going forward. The availability of better reimbursement policies for eye surgeries and treatments in this region will also support market development.

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Global Contact and Intraocular Lenses Market

Product ID: SQMIG35B2189