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Cosmetic Contact Lens Market Size to exceed $13 billion by 2023: Global Market Insights Inc.

Cosmetic Contact Lens Market Size to exceed $13 billion by 2023: Global Market Insights Inc.

Key industry players include CooperVision, Bausch & Lomb, Ciba Vision (Alcon), and Johnson & Johnson. Other prominent participants in include Allied Medical, Carl Zeiss, Blanchard, Conforma, Eagle Optics, Contamac U.S., GKB, Hydrogel Vision, Hoya, Iridex, Medicure Instruments, Medennium, Nidek, Wesley Jessen, X-CEL Contact and Synergeyes.
“Global cosmetic contact lens market size was valued at over USD 900 million in 2015 and is expected to grow at a CAGR of around 6.5% over the forecast period. Increasing demand for changing aesthetic appearance without vision correction is anticipated to drive industry growth.”

U.S. cosmetic contact lens market share was valued at over USD 250 million in 2015, and is expected to grow faster than the global average over the forecast period. Increasing usage of these products for enhancing overall aesthetic appeal is expected to propel demand over the forecast period. 

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Surging usage in the entertainment sector is expected to boost cosmetic contact lens market size growth. Furthermore, continuous innovation for developing products that display information to the user using various processes such as laser cutting and injection molding is expected to positively impact the industry over the forecast period. Increased standard of living and higher disposable income are also estimated to fuel growth. 

Colored lenses help in changing the wearer’s eye color or enhancing the hue. Growing acceptance of corrective surgeries such as LASIK is estimated to favorably impact cosmetic contact lens market size. Costume contact lens market mainly finds application in the film industry for special effects makeup.

Features such as ease of adjustability and high comfort are forecast to boost the cosmetic contact lens industry from 2016 to 2023. Since these products are targeted at the younger demographic, increased elderly population and general increase in the percentage of population with visual inaccuracies is expected to hinder growth. 

The Food and Drug Administration (FDA) characterizes these products as medical devices that need a prescription for purchase. Products made overseas may contain dyes not approved by the FDA. Using non-prescribed products can result in decreased vision, corneal infection, pink eye, or even blindness. 

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In the UK, the plano cosmetic contact lens market is regulated; since biocompatibility with the eye is important, these products are supplied by a medical practitioner or registered optometrist. 

Emergence of circle lenses that extend the appearance of the iris onto the sclera has been a new trend in countries such as Japan, South Korea and China. Majority of the overall production is undertaken in Asia, and these products have made inroads in the U.S. as well.

This latest Cosmetic Contact Lens Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Cosmetic Contact Lens Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Browse key industry insights spread across market data tables, figures & charts from the report, “Cosmetic Contact Lens Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.”, in detail along with the table of contents.

https://www.gminsights.com/industry-analysis/cosmetic-contact-lens-market

Key Insights in this Report

  • Global Cosmetic Contact Lens Market size & forecast by product & application
  • Growth drivers, pitfalls & industry challenges
  • Key Cosmetic Contact Lens Market growth opportunities & emerging business models
  • Competitive benchmarking with market share analysis and company profiles

Browse Related Report

  • Eyewear Market Size By Product (Spectacles [Lens, Frame], Contact Lenses [RGP, Soft, Hybrid], Plano Sunglasses), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022

https://www.gminsights.com/industry-analysis/eyewear-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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