The Worldwide Therapeutic Contact Lenses Industry is Expected to Reach $4.2 Billion by 2027: Public and Private Initiatives to Increase Vision Care Awareness Drives Growth - ResearchAndMarkets.com

2023-02-08

DUBLIN--(BUSINESS WIRE)--The "Therapeutic Contact Lenses Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

'Therapeutic Contact Lenses Market - Global Outlook & Forecast 2022-2027'

The global therapeutic contact lenses market is expected to grow at a CAGR of 4.90% from 2021-2027. Therapeutic contact lenses (TCLs) are mainly used for corneal diseases, and the clinical use of TCL after ophthalmic surgery usually focuses on corneal lesions, corneal refractive surgery, and corneal transplantation.

These bandages were also used in cataract surgery. It also stimulates corneal metabolism, improves corneal regeneration, increases epithelial adhesion, maintains hydration, reduces collagenase accumulation, reduces edema, improves corneal clarity and vision, and is a vehicle for ophthalmic drug delivery.

The two most common contact lens variants available in the therapeutic contact lenses market include hard and soft contact lenses. RGP contact lenses are the most common type of hard contact lenses available in the industry. These lenses are usually made from plastic materials.

These lenses hold their shape firmly and allow oxygen to flow through the wearer's eye lens. RGP lenses are helpful for people with astigmatism and keratoconus as they enable sharper vision when the cornea is unevenly curved compared to soft contact lenses. Soft contact lenses are made up of hydrogel and silicone hydrogel materials.

Nearly 125 million people worldwide wear contact lenses to correct regular or common vision problems, such as myopia, hyperopia, presbyopia, and astigmatism. This vision correction can be done per the user's needs without disturbing the physical appearance.

By 2050, more than 2 billion people will be aged over 60. There is an increase in the global target population with the number of people requiring vision corrections.

For instance, around 153 million people are affected by uncorrected refractive errors, 1.7 billion have presbyopia, 352 million people suffer from dry eyes, and 20 million people are facing blind from cataracts. In addition, the diabetic population does suffer from various vision-related issues. For instance, around 93 million people suffer from diabetic retinopathy, and more than 67 million suffer from glaucoma.

Key Questions Answered:

1. What is the size of the therapeutic contact lenses market?

2. What is the growth rate of the therapeutic contact lenses market?

3. Who are the key players in the global therapeutic contact lenses market?

4. Which region has the highest global therapeutic contact lenses market share?

5. What factors impact the growth of the therapeutic contact lenses market?

Market Dynamics

Opportunities & Trends

Increase in Silicone Hydrogel Contact Lenses Application

Advances in Drug-Delivery Contact Lenses Technology

Introduction of Hi-Tech Contact Lenses

Growth Enablers

Growing Prevalence of Ophthalmic Disorders & Geriatric Population

Advances in Contact Lenses Technology

Public and Private Initiatives to Increase Vision Care Awareness

Restraints

High Cost of Therapeutic Contact Lenses

Adverse Events Associated with Contact Lenses

Low Accessibility, Affordability, & Financial Exclusion for Large Patient Pool

Market Segmentation

by Material

Soft Contact Lenses

Rigid Contact Lenses

by Usage

Daily Disposable

Frequently Replacement

by Application

Post Ocular Surgery

Corneal Surgery/Disorder

Drug Delivery

Others

by Distribution Channel

Omni Channel

Hospitals & Eye Care Clinics

by Geography

APAC

China

Japan

India

South Korea

Australia

North America

Canada

Europe

Germany

France

Italy

Spain

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

Turkey

Saudi Arabia

South Africa

UAE

Key Vendors

Other Prominent Vendors

ABB Optical Group

AccuLens

Advanced Vision Technologies

Contamac

Excellent Hi-Care

POLYTOUCH

SURGITECH INNOVATION

Walman

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