Therapeutic Contact Lenses Market is driven by Rising Geriatric Population Base across the Globe

Therapeutic Contact Lenses Industry Overview

The global therapeutic contact lenses market size was estimated at USD 3.8 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 7.13% during the forecast period. A rising number of research and development activities have been used in optometry and optics to advance the technology. Advances such as the introduction of dynamic soft therapeutic contact lenses combined with advanced technology are predicted to boost the growth of therapeutic contact lenses. Favorable government support and reimbursements, along with technological advancements in therapeutic contact lenses are the major factors anticipated to augment the market growth. Several hospitals and medical practices were affected during the COVID-19 pandemic owing to several changes in protocols.

The ophthalmology procedures were also affected in this novel COVID-19 disease outbreak as health checkups along with surgical procedures including ophthalmology were reduced due to COVID-19 restrictions. Additionally, the supply chain of the therapeutic contact lens was also disrupted during the COVID-19, creating a negative impact on the market growth in 2020.

Gather more insights about the market drivers, restraints, and growth of the Global Therapeutic Contact Lenses Market

Therapeutic contact lenses are a significant tool for the treatment of ocular diseases and other corneal disorders. These lenses protect the cornea from environmental circumstances and counter the coarse effects of the patient’s eyelids. Therapeutic contact lenses can help repair tissue, maintain visual acuity and manage pain. Additionally, therapeutic contact lenses are used to protect the ocular surface from mechanical erosions, and among patients with recurring corneal erosion syndrome to aid promote re-epithelialization and reduce pain. Hence, increasing cases of corneal diseases is anticipated to propel the demand for therapeutic contact lens during the forecast period.

Increasing developments in therapeutic contact lenses along with drug-delivering capabilities are some of the factors anticipated to augment the market over the forecast period. Increasing demand for soft contact lenses is expected to create potential growth opportunities in the market for therapeutic contact lenses. Furthermore, several manufacturers are focusing on developing and advancing therapeutic contact lenses to expand their geographical position. Additionally, companies operating in the therapeutic contact lenses market are augmenting their output product capacities including therapeutic contact lens to resolve various corneal disorders.

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Therapeutic Contact Lenses Market Segmentation

Grand View Research has segmented the global therapeutic contact lenses market based on product type, application, distribution channel, and region:

Therapeutic Contact Lenses Product Type Outlook (Revenue, USD Million; 2017 - 2030)

• Soft Lens
• Rigid Lens

Therapeutic Contact Lenses Application Outlook (Revenue, USD Million; 2017 - 2030)

• Corneal Surgery/Disorders
• Post Ocular Surgery
• Drug Delivery
• Others

Therapeutic Contact Lenses Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Retail
• E-commerce
• Others

Therapeutic Contact Lenses Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights:

April 2021: Johnson & Johnson Vision announced a collaboration with Menicon for developing and manufacturing therapeutic contact lens.

Key Companies profiled:

Some prominent players in the global Therapeutic Contact Lenses market include

• Bausch & Lomb Incorporated
• Advanced Vision Technologies
• CooperVision
• VISTAKON (division of Johnson & Johnson Vision Care, Inc.)
• X-Cel Specialty Contacts
• Contamac
• Excellent Hi-Care Pvt Ltd
• Alcon
• Surgitech Innovation
• UltraVision CLPL

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