Market Definition

Contact focal points are little, bended focal points that are worn over the eye. These are typically made to keep eyes healthy and correct refractive errors, but they are also used in prosthetics, cosmetics, and other industries. Additionally, despite their inherent clarity, these are frequently colored to make them easier to handle for users. These are made of materials like hydrogel and silicone hydrogel that are easy to stick to the eye with water.

Market Insights The US Contact Lens Market is expected to expand at a CAGR of approximately 5.3 percent from 2023 to 28. The majority of the growth in the market can be attributed to the rapidly expanding focus on how the optics and optometry fields developed in the past. As the number of people with visual impairments rises, so does the demand for contact lenses in the United States. Contact lenses allow people with visual impairments to see clearly. The rising demand for these precise and useful lenses, people's interest in sports, and lenses that provide excellent visual clarity for wearers are all contributing to the expansion of the contact lens market in the United States of America. In addition, various organizations in the US attract clients to the contact focal point market. In order to boost innovation in the contact lens industry, the US government provides financial support to R&D facilities. Additionally, with remarkable youthful and moderately aged US buyers close by in excess of 30000 optometrists in dynamic practice, the market is probably going to advance before long. In addition, the rising adoption of new contact lens technology and consumer awareness of various contact lens options have contributed to the flourishing market in the United States.

Main Trend: Increased Awareness of the Advantages of Daily Disposable Lenses Over Reusable Lenses Increased awareness of the advantages of daily disposable lenses over reusable lenses, such as protection from side effects of cleaning solutions like eye staining, has fueled market expansion in recent years. Despite the fact that the costs of disposable and reusable lenses are not significantly different, optometrists still recommend using disposable lenses for safety reasons. In addition, the major players in the market are launching cutting-edge products and launching awareness campaigns, both of which are anticipated to boost the growth of daily disposables. Alcon, for instance, introduced the daily disposable silicone hydrogel (SiHy) lens PRECISION1 for Astigmatism in January 2021 in the United States.

Segmentation of the Market on the Basis of Usability: Reusable Disposable Here, reusable lenses are gaining a lot of popularity across the nation and are expected to significantly contribute to the expansion of the overall market from 2023 to 2028. It is primarily due to the growing number of large wearers and patients with refractive errors. For instance, 42.2 million people in the United States are among the estimated 125 million worldwide who wear contact lenses, according to the Vision Council's 2020 study report. Due to the increasing number of people worldwide who wear contact lenses and the steady adoption of reusable lenses, this category is likely to grow. In addition, the advantages of reusable lenses, such as their durability and comfort, are anticipated to boost market expansion during the forecast period.

Soft Contact Lenses by Material Type Silicone Hydrogel Hydrogel In 2022, the Silicone Hydrogel lens category held a significant share of the contact lens market. Silicone hydrogel lenses offer a number of advantages over gas-permeable lenses, including increased comfort and adaptability. Users prefer it over other lenses as a result.

Gas-penetrable and silicone hydrogel focal points are joined to make mixture focal points. An RGP center zone is surrounded by a soft silicone or soft hydrogel material peripheral skirt. It provides RGP lens visual clarity in addition to soft lens wearing comfort. Market expansion is likely to benefit from individuals with keratoconus and astigmatism's increased use of hybrid lenses.

A new silicone hydrogel daily disposable contact lens was introduced by Bausch + Lomb. A brand-new technology in the Bausch + Lomb Ultra One Day contact lenses releases ingredients to improve eye health and comfort.
Recent Changes in the US Contact Lens Market Johnson & Johnson introduced Acuvue Oasys Max 1-Day, a daily disposable contact lens, in October 2022 to provide patients who use digital devices with all-day comfort and clear vision. Spherical and multifocal versions of this lens are expected to be available in the fall of 2022.
Alcon announced the availability of Dailies TOTAL1 for patients with astigmatism in the United States in January 2022. The product, which is the first water gradient lens, aims to provide patients with a comfortable fit.
Johnson & Johnson Vision, a leading manufacturer of cutting-edge lenses, and Menicon signed a global strategic partnership in April 2021. In order to address the growing prevalence and progression of myopia in children, the partnership aims to develop therapeutic lenses.
Cooper Companies Inc. acquires No7 Lenses, a manufacturer of specialty lenses primarily sold in the United Kingdom, in April 2021. Market Dynamics Key Driver: Increasing Number of Americans Wearing Contact Lenses Gradually, More Americans Will Probably Start Wearing Contact Lenses. According to research conducted by the Environmental Protection Agency of the United States, 31 million people will use contact lenses in the country in 2021. Due to the shift in consumer preference toward eyeglasses, it is anticipated that the rising number of customers will support the expansion of the market in the United States.

Possible Limitation: Fluctuations in productivity brought on by variations in the availability of raw materials, in addition to the growing accessibility of alternatives like laser treatment, are some of the key market challenges. Inaccessibility of raw material results in higher production costs. Additionally, there is a shortage of skilled workers in the United States who are capable of manufacturing high-tech contact lenses at a high cost due to their advanced features and production costs.

The Market Research Report Provides Answers to These Key Questions:

What are the overall statistics or estimates for the US Contact Lenses Market-Overview, Size-by-Value, Forecast Numbers, Segmentation, and Shares?
What are the industry's size, growth factors, and obstacles by region?
In the US Contact Lens Market, what are the most important innovations, opportunities, current and future trends, and regulations?
Based on the competitive benchmarking matrix, who are the key competitors, what are their key strengths and weaknesses, and how do they perform in the US Contact Lens Market?
What are the primary outcomes of the surveys that were carried out as part of the study on the US Contact Lens Market?