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North America Contact Lenses Market Research Report – Segmented By Material, Application, Design, Country (the United States, Canada and Rest of North America) - Industry Analysis, Size, Share, Growth, Trends, Forecast (2023 to 2028)

Published: March, 2023
ID: 1615
Pages: 145
Formats: report pdf report excel report power bi report ppt

North American Contact Lenses Market Size (2023 to 2028)

The Contact Lenses Market size in North America is expected to be worth USD 6.84 billion by 2028 and USD 4.78 billion in 2023, growing at a CAGR of 7.45% from 2023 to 2028. Within North America, the Contact Lenses Market in the United States plays a significant role.

The increasing patient population suffering from various eye diseases is contributing to the growth of the contact lens market in North America. In the recent past, several people suffering from myopia, hyperopia, and astigmatism have seen a rise in North American countries. As per the statistics published by the American Academy of Ophthalmology, the prevalence of myopia is anticipated to rise from 41.6% in 2000 to 52% by 2050.

The growing awareness levels among the North American population regarding the importance of eye health are expected to boost the contact lens market in North America. People's consciousness towards their eye health has grown considerably recently, and many consider contact lenses a convenient and comfortable option for spectacles. As per the survey organized by the Contact Lens Institute, an estimated 75% of people who used contact lenses were happy with the experience and felt natural and comfortable using contact lenses. This trend is estimated to continue progressing in the coming years and promote market growth in North America.

The rising adoption of technological advancements in manufacturing contact lenses is estimated to result in regional market growth. The manufacturers have adopted new materials and advanced manufacturing processes to manufacture comfortable and durable contact lenses. In addition, the growing aging population in North American countries is anticipated to fuel the growth rate of the North American contact lens market. According to the data published by the U.S. Census Bureau, people 65+ years of age in the U.S. are expected to reach 98 million by 2060.

Furthermore, factors such as growing demand for disposable contact lenses, increasing adoption of myopia contact lenses, and rising availability of contact lenses on e-commerce platforms are anticipated to boost  market growth in the North American region.

However, fluctuations in productivity due to variations in the availability of raw materials and the increasing availability of alternate options like laser treatment are some of the major challenging factors for the market. In addition, the lack of skilled people in manufacturing capable contact lenses with the latest technology and high costs due to its advanced features and manufacturing expenses are also inhibiting the growth rate of the North American contact lenses market to a limited extent.

This research report on the North American 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: 

  • The United States
  • Canada
  • Rest of North America

Geographically, the United States contact lenses market held the largest market share in the North American market in 2022. Increasing demand for contact lenses and the well-developed infrastructure of the healthcare industry is majorly helping the market growth. The United States has many companies that attract consumers to the contact lenses market. The US government encourages research and development facilities to raise innovation in Contact Lenses Market. Young & middle-aged consumers in the US are attributing the market growth. More than 30000 optometrists are practicing in the United States. Increasing awareness of different contact lenses surges the United States market. The adoption of contact lens technology advancement in the US led the market growth.

The Canadian Contact Lenses Market is forecasted to witness a healthy CAGR during the forecast period. There is a massive market for contact lenses that exist in Canada. They provide lenses at a very cheap cost through their online providers. Big players in Canada provide lenses to millions of people in North America. The younger generation is the biggest driver of this market because of the trending fashions and increasing incidence of myopia. 

Recently, one study published in the journal Eye by the Centre for Ocular Research & Education (CORE) and the Canadian National Institute for the Blinds found rising rates of myopia among children aged 6 and 13. Contact lenses ordered from online marketing sources in Canada shipped without any hidden fees or taxes. In Canada, significant drivers are the players in the market who attract their customers with substantial sale offers and exchange offers for 365 days. 

KEY MARKET PLAYERS:

Some leading companies in the North America 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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