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Europe Contact Lenses Market Research Report – Segmented By Material, Application, Design, Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 1616
Pages: 145
Formats: report pdf report excel report power bi report ppt

Europe Contact Lenses Market Size (2022 to 2027)

The European Contact Lenses Market size is expected to be worth USD 5.50 billion by 2027 from USD 3.79 billion in 2022, growing at a CAGR of 7.71% during the forecast period.

The rising senior population suffering from a variety of eyesight problems, rising disposable incomes as well as an increase in the frequency of eye injuries and vision-related illnesses, and a shift in consumer preference for contact lenses with appealing colors, tints, and textures for enhancing eye appearance are driving contact lens demand in Europe. Myopia and astigmatism are becoming more common eye problems. Their fast development among children and rising per capita healthcare spending is anticipated to drive up demand for these lenses. People are moving from glasses to contacts as their lifestyles change, and the need for new lenses grows. The market has seen a considerable increase in R&D efforts in the field of optics and optometry. Contact lenses provide therapeutic benefits by establishing a mechanical barrier between the cornea and the external environment, hydrating the corneal epithelium, speeding wound healing, and relieving pain. As a result of many company innovations and customer demand, the area is a very appealing and stable location for company and consumer growth in the contact lens market.

Consumer interest in cosmetic contact lenses is moving in Europe due to increased theatrical activities, a rise in the number of customers with visual distortion, and the launch of advanced contact lenses. Another major reason that is anticipated to drive demand for advanced contacts in the next few years is the existence of many key firms involved in developing and introducing new goods. Furthermore, growing demand for cosmetic lenses and expanding population purchasing power are projected to fuel expansion. The growing popularity of Plano sunglasses to increase visual attractiveness and the necessity to remove the use of spectacles is driving the contact lens industry forward. Over the forecast period, rising advances in contact lenses with drug-delivery capabilities are likely to fuel market demand. The market's development opportunities are expected to be boosted by increased demand for daily disposable contact lenses.

The European contact lenses market is being hampered by increased adverse effects of contact lenses, including eye infections and corneal ulcers, and increasing adoption of other ophthalmic devices and corrective treatments like photorefractive keratectomy (PRK) and laser. Furthermore, in the future years, a scarcity of ophthalmologists and regulatory hurdles are likely to stifle Europe Contact Lenses market growth to some extent.

This research report on the European contact lenses market has been segmented & sub-segmented into the following categories:

By Material:

  • Soft Contact Lenses
  • Silicone Hydrogel Lenses
  • Rigid Gas Permeable (RGP) Contact Lenses
  • Hybrid Contact Lenses
  • Polymethyl Methacrylate (PMMA) Contact Lenses

By Application: 

  • Therapeutic Contact Lenses
  • Cosmetic Contact Lenses
  • Corrective Contact Lenses
  • Prosthetic Contact Lenses

By Design: 

  • Spherical
  • Bifocal
  • Orthokeratology
  • Toric

By Country: 

  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Turkey
  • Czech Republic
  • Rest of Europe

Regional Analysis

The UK Contact Lenses market rose and accounted for a market share of 23% in the European market in 2020. According to the Association of Contact Lens Manufacturers (ACLM), the UK Contact Lenses market was increased by 4% and made 292 million Euros in 2018. An estimated 789 million contact lens sales happened in the United Kingdom alone. The users of contact lenses are very high in the United Kingdom, majorly attributing the growth to the market. Nearly 3.6 million adults use contact lenses in the United Kingdom, which is 8.7% of the UK's adult population. The growing aging population further drives the contact lenses market in the United Kingdom. As a result, contact lenses have become the strongest, with value growing by 5%. Escalating expenditure on healthcare is also one of the factors for the market to grow tremendously. 

The German contact lenses market is expected to be the second most leading regional market in the European market following the UK during the forecast period. The contact lenses market in Germany is estimated to showcase a CAGR of 8.6% during the forecast period. Growing awareness among the people about the age-related health issues and standard increase for the usage of contact lenses are majorly contributing to this regional market. In Germany, raising awareness about age-related diseases and the prevalence of contact lenses are significant factors. In addition, the tendency of people to wear a quality type of device is also expanding the market.

France is a developed country in the European region. Therefore, increasing knowledge over contact lenses through digital advertisements is also one factor accelerating France's contact lens market growth. In addition, awareness about contact lens and shifting towards a contact lens rather than prescribed sunglasses are forcing the market to grow effectively.

In Spain, the increasing trend of wearing contact lenses, especially in adults, is accelerating the demand for the market. As a result, the contact lenses market in Spain is predicted to display a CAGR value of 1.78% during the forecast period. Growing prevalence towards the contact lens than spectacles is the primary factor in attracting market growth. In addition, increasing economy from past few years and creating awareness through digital advertisements further elevates the Spain Contact Lenses Market. 

Increasing investment in the research and development sector and using contact lenses daily are propelling the growth rate of the Italian Contact Lenses Market. Therefore, the availability of contact lenses has to be increased to expand the market.

KEY MARKET PLAYERS:

A few promising companies in the Europe Contact Lenses market are Johnson & Johnson, Bausch & Lomb, CooperVision, Hydrogel Vision Corp, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Carl Zeiss AG, CIBA Vision, Essilor International, and Contamac.

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