The contact lenses market includes corrective, cosmetic, and therapeutic lenses used to improve vision and offer aesthetic benefits. Demand is driven by the rising prevalence of refractive errors, growing adoption of advanced lens materials like silicone hydrogel, and increasing preference for daily disposable lenses due to hygiene and convenience. Technological innovations, such as smart and hybrid lenses, along with the expansion of online retail channels, are further supporting market growth. North America currently holds a significant share, while Asia-Pacific is expected to witness the fastest growth due to increasing awareness of eye health and higher disposable incomes.
According to Fortune Business Insights, the global contact lenses market was valued at USD 10.45 billion in 2023 and is projected to grow from USD 11.08 billion in 2024 to USD 18.30 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period. In 2023, North America dominated the market with a 34.45% share.
North America led the market in 2023, capturing a 34.45% share. The region’s high share is attributed to increased awareness of vision correction options, growing refractive disorders, and a rising consumer preference for advanced lens technologies.
Multiple factors are fueling the market’s growth:
The COVID-19 pandemic severely hampered growth, forcing shutdowns of non-urgent care facilities, suspending contact lens fittings, and causing consumers to favor eyeglasses due to hygiene concerns—limiting contact lens adoption.