The global coloured lenses market in 2022 is valued at USD 5403.28 Million. This market is projected to grow with a CAGR of 9.92% in the forecast duration. The coloured contact lenses market is expected to surpass a valuation of USD13,913 Million by the end of 2032. The major growth in the market is likely due to a surge in eye disorders.
Portfolio Diversification a Key Strategy to Stand Out in the Market
The contact lens business is very competitive in terms of the brands, colors, and cost of lenses. There are key brands dominating this market with the introduction of a range of colored contact lenses. These players are trying to get more market share by bringing new shades and product launches. Strategic partnership and acquisition are prime business moves by colored contact lens makers. There is potential for earning higher profit margins that attract vendors to enhance their value chain and supply network globally.
- Johnson and Johnson have introduced cutting-edge eye lenses such as multifocal fit for pupil size, intraocular lenses for digital world comfort, and personalized options for customer comfort making it the leading manufacturer in contact lenses.
- Novartis in 2019 has launched AcrySofIQ Pan Optix trifocal lens which gives super visual performance after cataract surgery.
Colored Contact Lenses Market: Segmentation
By Type :
- Visibility Tint
- Enhancement Tint
- Opaque Tint
By Distribution Channel :
- Optical Stores
- Retail Pharmacies
By Region :
- North America
- Latin America
- Asia Pacific
- Middle-East & Africa