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United States Contact Lenses Market Analysis: Size, Share, Growth & Forecast (2024 – 2032)

The United States Contact Lenses Market is projected to reach approximately US$ 4.47 billion by 2032, growing at a CAGR of 4.69% from 2024 to 2032. Renub Research reports that the market was valued at US$ 2.96 billion in 2023.

Contact lenses, which are thin, transparent plastic discs inserted into the eye, enhance vision by floating on the cornea’s protective tear film. They correct refractive errors that lead to vision issues, helping to ensure light is properly focused on the retina.

  • According to the Centers for Disease Control (CDC), around 45 million Americans are projected to wear contact lenses, with women accounting for two-thirds of users. The average global contact lens wearer is 31 years old, with 8% under 18, 17% aged 18-24, and 75% over 25.

Key Drivers of Growth in the United States Contact Lenses Market

1. Increase in Vision Problems

The growing population of individuals with visual impairments contributes to the expansion of the contact lenses market. This trend is particularly evident in the United States, where the risk of developing vision-related health issues increases with age.

  • As reported by the National Health and Aging Trends Study, 27.8% of Americans aged 71 and older have visual impairments, with a higher prevalence linked to age-related factors.

2. Research and Development Initiatives

The evolution of the contact lenses market and overall eye health in the U.S. is driven by significant advancements in lens design, materials, and technologies.

  • A professor at Purdue University’s College of Engineering has secured $6.7 million in grants from the National Eye Institute to develop smart soft contact lenses designed to monitor or treat conditions like glaucoma and dry eye syndromes.
  • In April 2023, CooperVision announced its Science and Technology Awards program to promote continuous advancements in contact lens research and development.

3. Government Initiatives

New federal and state laws are influencing the dynamic contact lenses market in the United States.

Other Post You May Be Interested In

  • The FY 2023 budget bill from Congress includes $6.5 million for vision and eye health initiatives, with $2.5 million allocated to the Vision Health Initiative (VHI) to update national prevalence estimates of eye conditions.
  • The Federal Trade Commission and the FDA have implemented measures, including consumer alerts regarding potentially hazardous eye drops and product recalls.

United States Contact Lenses Industry News

Key players in the U.S. contact lens market include Bausch & Lomb Incorporated, Hoya Corporation, EssilorLuxottica, Menicon Co. Ltd., Carl Zeiss Meditec AG, Alcon, The Cooper Companies, Inc., and SynergEyes Inc..

  • December 2023: Azalea Vision unveiled the first working prototype of its Azalea smart contact lens platform, intended to provide non-surgical solutions for individuals with presbyopia and corneal abnormalities.
  • October 2023: Alcon launched TOTAL30® Multifocal, the first monthly Water Gradient multifocal contact lens in the global market.
  • July 2023: Hubble Contacts introduced Hydro by Hubble contact lenses, emphasizing environmentally friendly packaging and all-day hydration.
  • June 2023: EssilorLuxottica introduced the Varilux XR series lens, showcasing their commitment to innovation.

Market Segmentation

  • Material:
    1. Gas Permeable
    2. Silicone Hydrogel
    3. Hybrid
  • Usage:
    1. Daily Disposable
    2. Disposable
    3. Frequently Disposable
    4. Traditional (Reusable) Lenses
  • Design:
    1. Spherical
    2. Toric
    3. Multifocal
  • Application:
    1. Vision Correction
    2. Cosmetic
  • Distribution Channel:
    1. Vision Correction Online Pharmacy
    2. Retail Pharmacy
    3. Hospital Pharmacy

Company Analysis

Key players are analyzed based on:

  • Overview
  • Recent Development
  • Revenue Analysis

Companies Covered:

  1. Bausch & Lomb Incorporated
  2. Alcon
  3. Carl Zeiss Meditec AG
  4. The Cooper Companies, Inc.
  5. Hoya Corporation
  6. EssilorLuxottica
  7. Menicon Co. Ltd
  8. SynergEyes Inc.

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