For the 45 million Americans who wear contact lenses, when taken care of correctly, they may offer a pleasant and efficient way to play, live, and work. Although contact lenses are often a safe and reliable method of vision correction, they can carry some risks, particularly if they are not properly cared for. As medical equipment, contact lenses must be used, cleaned, and stored according to instructions to decrease the chance of eye infections such as microbial keratitis.

The contact lenses market is predicted to hit $16 billion in 2030, advancing at a significant CAGR during the forecast period. The main drivers of the market are a rise in per capita income, a growing number of older people with vision impairment, and advancing the frequency of eye injuries and diseases. Daily-wear lenses are the leading category in the market, and this trend is expected to continue in the coming years. This is due to their improved comfort, lesser risk of eye infections, and ease of disposal.

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Types Contact Lens Designs

•  Spherical Contact Lens

To cure myopia (nearsightedness) or hyperopia, spherical contact lenses contain the same lens power throughout the whole optical portion of the lens (farsightedness).

•  Toric Contact Lens

Astigmatism, as well as nearsightedness or farsightedness, can be corrected using toric soft contact lenses by varying the powers in the lens's various meridians.

•  Multifocal Contact Lens

To address presbyopia and also nearsightedness or farsightedness, multifocal contact lenses include distinct power zones for near and far vision. Astigmatism can be cured by certain multifocal lenses.

•  Cosmetic Contact Lens

Color contacts intended to alter or amplify eye color are examples of cosmetic contact lenses. Even if people don't have any refractive defects that need to be corrected, still need a contact lens prescription to use cosmetic contacts.

Moreover, the spherical lenses category is leading the contact lens market. This was mostly because optometrists and patients preferred them for the treatment of vision impairment. Additionally, the prevalence of conditions connected to eyesight is increasing due to an increase in tv viewing, which is fueling the need for contact lenses. The simplest surface design and less expensive production process of spherical lenses are their key benefits when used in optical systems.

Additionally, as people age, they are exposed to a wider range of stresses. Some disorders are common among people of all ages, while others, including visual issues, are more common among the elderly. Improved contact lenses are now available as a result of the massive increase in R&D efforts for a better product to cure eye diseases. Due of healthcare facilities is gradually adopting technologically advanced optometry solutions, which is why contact lens demand is growing.

The e-commerce category is expected to grow at the highest CAGR in the contact lenses market in the coming years. This is attributed to the lockdown which made people remain at home and the increased convenience provided by online buying platforms, including doorstep delivery and instant payment. Additionally, interactive websites that include AR technology allow customers to see their appearance before purchasing the lens.

Hence, currently, people all around the world prefer contact lenses rather than optical glasses, whether they have any refractive defects or not, to improve their appearance. Therefore, the demand for contact lenses is advancing all around the world.