Cosmetic Contact Lenses Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024

The cosmetic contact lenses market size has the potential to grow by USD 348.86 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by distribution channels (offline and online) and geography (North America, Europe, APAC, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica SA, HOYA Corp., Johnson & Johnson, Kazzue, Menicon Co. Ltd., Novartis AG, SEED Co. Ltd., and The Cooper Companies Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented. The market is dominated by a few key players and the competition among the players will further intensify with the increase in product extensions, new product launches, and the new applications of integrated product offerings. The integration of electronics, monitoring, and communication into product offerings will lead to extensive market growth and also results in the introduction of innovative solutions. To gain a competitive advantage and gain maximum cosmetic contact lenses industry share, the vendors in the cosmetic contact lenses market extensively focus on innovations. Bausch Health Companies Inc., Carl Zeiss AG, and EssilorLuxottica SA are some of the major market participants. Although the rise in the number of people with eye disorders will offer immense growth opportunities, the limitations of cosmetic contact lenses will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this cosmetic contact lenses market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this cosmetic contact lenses market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Bausch Health Companies Inc.
• Carl Zeiss AG
• EssilorLuxottica SA
• HOYA Corp.
• Johnson & Johnson
• Kazzue
• Menicon Co. Ltd.
• Novartis AG
• SEED Co. Ltd.
• The Cooper Companies Inc.

Cosmetic Contact Lenses Market: Segmentation by Geography

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APAC was the largest cosmetic contact lenses market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the rising awareness and the growing demand for contact lenses, the increasing number of people with defective vision and in need of corrective contact lenses to correct and improve their health, the popularity of disposable contact lenses, and their easy availability will significantly drive cosmetic contact lenses market growth in this region over the forecast period.

36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for cosmetic contact lenses in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Cosmetic Contact Lenses Market: Segmentation by Distribution Channel

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One of the key advantages of purchasing cosmetic contact lenses through offline stores is that customers get to see and touch the products and are therefore assured of their quality in most cases. There is a rapidly growing number of retail outlets in developing and emerging countries such as China and India, to meet the demand for eye care products, including cosmetic contact lenses. Additionally, the growing acceptance and awareness of using cosmetic contact lenses have created a gradual demand for the same in most countries. This has enabled retail stores to store and provide some popular brands of cosmetic contact lenses to consumers, allowing them to expand their presence by setting up new stores. 

Market growth in the offline segment will be slower than the growth of the market in the online segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the cosmetic contact lenses market size.

Cosmetic Contact Lenses Market: Key Drivers and Trends

Market research analysts at Technavio predict that the global cosmetic contact lenses market will grow steadily during the forecast period and post a CAGR of over 5% by 2024. This market research analysis identifies the rising popularity of silicone hydrogel contact lenses as one of the primary growth factors for this market. The silicone hydrogel contact lens is healthier and allows more oxygen to pass through the lens. The increased resistance to protein deposits, less drying of the lenses, lower risk of eye infection, easier handling due to increased rigidity of the material, and minimal incidence of complications with extended wear use are some of the other advantages offered by silicone hydrogel contact lens. The comfort and convenience of continuous wear in addition to lesser eye complications and the demand for extended wear comfort will fuel the demand for silicone hydrogel contact lens.

The market research report identifies the introduction of antimicrobial contact lenses as one of the key factors fueling the growth of the cosmetic contact lenses market. The antimicrobial coating on the lenses reduces the probability of eye infection, improves the health of the eye, and also makes the use of lenses for a longer time comfortable. The coating is done with a peptide called melamine, which is also produced by the body's immune system. Users of antimicrobial-coated contact lenses are exposed to lesser germs and have a lower chance of eye infection.

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Cosmetic Contact Lenses Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive cosmetic contact lenses market growth during the next five years
• Precise estimation of the cosmetic contact lenses market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cosmetic contact lenses industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cosmetic contact lenses market vendors

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