The global market for cosmetic contact lenses is witnessing a significant upswing in light of the growing demand for altering the aesthetic appearance. The use of cosmetic contact lenses is surging in the entertainment sector, and perpetual innovation in the nature of products and comfort in usage are the key factors contributing to the demand for cosmetic contact lenses. Rapid development in the standard of living and swift development of the aesthetics market in middle-income countries will further fuel the market’s growth.
East Asian countries such as Japan, China, South Korea, and Singapore are the key countries with the highest contribution to the global market. Traditionally, cosmetic and conventional contact lenses were only available at optometrist offices, specialized optical retail stores, physician offices, hospitals, and wholesale distributors. With the advent of the online/internet sales channel, new avenues have opened for this market, which has also resulted in augmenting the customer base.
The report titled “Cosmetic Contact Lenses Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023” offers strategic insights into the overall cosmetic contact lenses market, along with the market size and estimates for the duration of 2016 to 2023. The said research study covers an in-depth analysis of multiple market segments based on the type of lens and different geographical regions.
The lens type segments studied for analyzing the overall cosmetic contact lenses market are spherical lenses, toric lenses, multifocal lenses, conventional lenses, and others. In order to help strategic decision-makers, the report also includes competitive profiling of the leading players in the cosmetic contact lenses market, an attractive investment proposition, Porter’s five forces model, and market positioning of key manufacturers.
Geographically, the cosmetic contact lens market is studied for the following regional markets:
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
The market size and forecast for these regional and country-level markets are presented in this study for the period 2013–2023. Market growth rates for the forecast period 2016–2023 are also included in this report, considering 2015 as the base year.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for a better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges, and opportunities assists the readers in understanding the ongoing trends in the global cosmetic contact lens market.
Tools such as the market positioning of key players and an attractive investment proposition provide the readers with insights into the competitive scenario of the global cosmetic contact lenses market. This report concludes with a company profiles section that highlights major information about the key players engaged in the cosmetic contact lens market. In-depth competitive environment analysis and historical years (2013 and 2014) of market size data are also provided in the report.
Thus, the research study provides a holistic view of the global market for cosmetic contact lenses, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above-mentioned factors.
Based on the type of lenses, the global market for cosmetic contact lenses is segmented as follows:
- Spherical contact lenses
- Toric contact lenses
- Multifocal Lenses
- Conventional contact lenses
Cosmetic contact lenses change the eye color and create a look that’s subtle and bold. Cosmetic contact lenses are available in both prescription and Plano forms. Prescription cosmetic contacts correct your myopia (nearsightedness), hyperopia (farsightedness), or astigmatism, as well as enhancing or completely changing eye color, while Plano cosmetic contacts are worn purely for cosmetic purposes to change eye color and have no lens power for vision correction. The global cosmetic contact lenses market is segmented into spherical contact lenses, toric contact lenses, multifocal lenses, conventional contact lenses, and others. Spherical contact lenses held the largest market in the global cosmetic contact lens market.
While toric contact lenses are anticipated to expand at the fastest growth rate due to increasing cases of astigmatism and growing trends in cosmetic contact lenses, Rising usage of cosmetic contact lenses in the entertainment sector is expected to boost the cosmetic contact lens market during the forecast period. Moreover, the cosmetic contact lens market is witnessing a significant upswing in light of the growing demand for altering the aesthetic appearance.
The geographical segmentation of the global cosmetic contact lenses market comprises North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In the base year 2015, Asia Pacific accounted for the largest market in the cosmetic contact lenses market due to the rising awareness related to aesthetic surgeries and cosmetic enhancement devices in the young population and the rising market penetration of cosmetic contact lenses due to online availability and regulatory approval for online sales and non-prescription sales of cosmetic contact lenses.
The other common factors assisting the growth of the cosmetic contact lenses market in Asia-Pacific are increasing incidences of ophthalmic disorders, including myopia, hypermetropia, and astigmatism, which are expected to positively impact the global market over the forecast period. Regions such as Latin America and the Middle East and Africa are expected to witness the highest growth rate due to high disposable income, the increasing prevalence of ophthalmic disorders, and is one of the major cosmetic surgery destinations in the world. Moreover, in the modern world, a few Middle Eastern and African countries have been influenced by fashion and have changed their prescriptions for contact lenses, with consumers increasingly opting for colored contact lenses to match their outfits. Thus, the global market for cosmetic contact lenses is expected to grow at a significant rate in the near future.