U.S. Contact Lenses Market Size, Share & Industry Analysis, By Modality (Reusable, and Disposable), By Design (Toric, Multifocal, and Spherical), and By Distribution Channel (Ophthalmologists, Retail Stores, and Online Stores), and Country Forecast, 2024-2032

The U.S. contact lenses market size was worth USD 3.43 billion in 2023 and is projected to grow at a CAGR of 6.4% during the forecast period. 

The U.S. has seen an increase in the number of contact lens wearers over the years owing to the rising prevalence of eye disorders, refractive errors such as myopia, presbyopia, and others. For instance, according to the 2022 article published by NVISION Eye Centers, it was reported that 150.0 million Americans use corrective lenses for refractive errors, and 4.2 million Americans above the age of 40 are visually impaired.

The penetration of these lenses among the population is supported by a few prominent factors, such as the various benefits of these lenses and technological advancements by the key players. The COVID-19 impact was negative in 2020, due to a significant decrease in new contact lens users during the period. The reduced need for these lenses while at home was another major factor responsible for the market's decline.

LATEST TRENDS

Shifting Preference towards Daily Disposable Lenses among the Wearers

There is a rising preference shift towards daily disposable contact lenses among the wearers in the country. The factors such as increased comfort, safety, and convenience among the wearers are fostering the shift. Also, the key companies are focusing on developing and introducing novel products in the contact lens portfolio to cater to the population's growing demand.

DRIVING FACTORS

Increasing Prevalence of Refractive Errors to Foster the Demand in the Market

There is a growing prevalence of refractive errors, including myopia, hyperopia, and presbyopia, among the U.S. population, especially in children and adults. The increased screen time among these individuals plays a crucial role in the higher risk of myopia, which is boosting the U.S. contact lenses market growth.

During the COVID-19 pandemic, jobs and schools adopted the work-from-home method, which significantly increased screen time among children and adults. The rising focus of the key players to cater to the population's growing demand is resulting in increased product approvals and launches in the country.

RESTRAINING FACTORS

Complications Associated with the Usage of Contact Lenses 

Certain common complications faced by the lenses wearer include infection, corneal edema, and red eye, among others. The risk of ocular diseases and complications among lens users are also associated with the improper use of these lenses, longer wear-time, and improper storage.

• According to a 2022 article published by National Center for Biotechnology Information (NCBI), around 1 million people in the United States experience eye infections or inflammation annually, of which approximately 25% due to contact lens wear.

SEGMENTATION

By Modality Analysis

Based on modality, the market is segmented into reusable and disposable.

The reusable segment held a dominant share in 2022. However, the segment is anticipated to register moderate CAGR during the forecast period.  Primary reason attributed to the moderate growth of the segment include increasing number of new products introduced in the disposable segment, and increasing preference of lens wearers towards disposable lenses.

• In June 2023, Bausch + Lomb announced the launch of its daily disposable contact lens brand called Infuse – multifocal silicon hydrogel lenses in the U.S.

By Design Analysis

Based on design, the market is segmented into toric, multifocal, and spherical.

The spherical segment accounted for the largest share in the market in 2022. The dominance is due to the high efficiency exhibited by these lenses in managing myopia, presbyopia, and hyperopia.

• According to the 2022 data published by NVISION Eye Center, it was reported that 150.0 million Americans use corrective lenses for refractive errors, and 4.2 million Americans above the age of 40 are visually impaired.

By Distribution Channel Analysis

Based on distribution channel, the market is segmented into ophthalmologists, retail stores, and online stores.

Retail stores segment held the largest share in the market in 2022. The initiatives of key players to partner with retail stores and offer high discounts for the products to increase the penetration of the products are some of the prominent factors for the growth of the segment. 

• For instance, according to an article published by VeryWell health in April 2022, the conventional soft contact lenses costs upto USD 100 per lens, for which the retailers can offer discount and give it at USD 25 annually, if purchased in bulk, addition to this the insurance can also help to offset this cost.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the market is consolidated with few major players accounting for majority of the market share. Johnson & Johnson Vision Care, Inc., and The Cooper Companies Inc., are the major companies dominating the U.S. contact lenses market share in 2022. The continuous focus of the companies to develop and introduce innovative and technologically advanced lenses for managing various refractive errors is attributable to the strong performance of the companies in the country.

Alcon Inc., Bausch & Lomb Incorporated, HOYA Corporation, Carl Zeiss Meditec AG, are some of the major companies operating in the U.S. market. The strong focus of these companies to launch new products is one of the major factors driving the growth of these companies in the U.S. market.

• For instance, in June 2022, Bausch & Lomb Incorporated launched Revive, a custom soft contact lens in the U.S., expanding its product portfolio.

LIST OF KEY COMPANIES PROFILED:

• Johnson & Johnson Vision Care, Inc. (U.S.)


• Alcon Inc. (Switzerland)


• The Cooper Companies Inc. (U.S.)


• Menicon Co., Ltd. (Japan)


• HOYA Corporation (Japan)


• EssilorLuxottica (France)


• Carl Zeiss Meditec AG (Germany)

KEY INDUSTRY DEVELOPMENTS: 

• March 2023 – The Cooper Companies Inc., launched MyDay Energys lenses in the U.S., with an aim to address the symptoms of pervasive digital eye strain.


• March 2022 – Johnson & Johnson Vision Care, Inc., received the U.S. FDA approval for ACUVUE Theravision with Ketotifen, a disposable lenses for vision correction in patients with itchy allergy eyes due to allergic conjunctivitis.


• January 2022 – Alcon Inc., launched DAILIES TOTAL1 water gradient lenses designed for astigmatic patients in the U.S. market.

REPORT COVERAGE

The U.S. contact lenses market report provides a detailed analysis of the market. It focuses on key aspects such as an overview of the technological advancements, the prevalence of refractive errors in the U.S., and pricing analysis. Additionally, it includes the latest trends in the market, new product launches, key industry developments such as mergers, partnerships, & acquisitions and the impact of COVID-19 on the market. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation