Contact Lens Market in the U.S. Thriving with Advancements in Lens Technology

Published On : Oct 10, 2024

Many individuals struggle with vision issues that can impact daily activities from reading to sports. According to research by the WHO, approximately 2.7 billion people worldwide suffer from some form of eye issue or visual impairment. In the U.S. alone, around 61 million adults are at risk for serious eye conditions.

Traditional eyewear, while effective can be cumbersome and limit peripheral vision. Therefore, contact lenses are a practical solution that offers a discreet and comfortable alternative for vision improvement.

Advancements in technology and materials allow contact lenses to provide flexibility and convenience, enabling users to have an active lifestyle without the restrictions often associated with glasses. In this blog, we will explore the definition and uses of these lenses, and we will understand how profitable the contact lens market is in the U.S.

Contact Lens Market in the U.S. Thriving with Advancements in Lens Technology

Let's dive in!

What are Contact Lenses?

Contact lenses are thin, round lenses that wear directly on the surface of the eye, specifically on the cornea, which is the clear outer layer of the eye. They are designed to improve vision, similar to eyeglasses. These lenses are mainly made from clear plastic and can be used to address various vision problems, such as nearsightedness, farsightedness, and astigmatism. They work by altering the way light rays enter the eye, allowing for clearer vision.

In addition to vision improvement, these lenses can also be used for cosmetic purposes by allowing wearers to change the color of their eyes or achieve a specific look.

What Contact Lenses are Made of?

Contact lenses are mainly made from polymer-based materials such as hydrogels and silicone hydrogels.

  • Hydrogels: These are flexible, gel-like materials that can absorb water, which helps maintain moisture and comfort for the wearer. A widely used hydrogel material is poly (2-hydroxyethyl methacrylate), commonly referred to as poly-HEMA.
  • Silicone Hydrogels: These combine silicone with water-absorbing plastics, allowing for greater oxygen permeability compared to traditional hydrogels. This feature is crucial as it helps keep the cornea healthy by allowing more oxygen to reach the eye.

In addition to these materials, these lenses can be soft, hard, and hybrid types, all of which utilize various plastic types to provide comfort and effectiveness.

What are the Uses of Contact Lenses?

Below are key uses of these lenses:

  • Contact lenses are primarily used to correct refractive errors such as nearsightedness, farsightedness, and astigmatism.
  • They can change the color of the eyes for aesthetic purposes.
  • Contact lenses provide a wider field of vision and are less likely to fall off during physical activities.
  • They eliminate the need for glasses, offering a more unobstructed view.
  • Certain lenses are designed for specific conditions, such as toric lenses for astigmatism.
  • They can be used after eye surgeries to aid in recovery and vision stabilization.
  • Contact lenses can serve as prosthetics for individuals with eye deformities or injuries.

How Profitable is the Contact Lens Market in the U.S.?

The contact lens market is flourishing notably. As per the PMR's recent report, the global contact lens solution market is predicted to expand at a CAGR of 4.6% and thereby rise from US$3.5 Bn in 2023 to US$4.8 Bn by the end of 2030. The CDC states that the U.S. has one of the highest numbers of contact lens consumers globally. With approximately 45 million people using contact lenses, it represents a significant portion of the market. 

The U.S. market is driven by increasing demand for vision correction and cosmetic lenses. The profitability of the industry is bolstered by advancements in lens technology, such as silicone hydrogels, which enhance comfort and oxygen permeability.

The trend toward daily disposable lenses contribute to higher sales volumes. As more consumers opt for contact lenses over glasses, the market is expected to continue growing, making it a lucrative segment within the broader eyewear industry.

Is Contact Lens Safe for Eyes?

Contact lenses can be safe for the eyes when used properly and maintained with good hygiene. It's essential to follow the prescribed guidelines from an eye care professional, including regular cleaning and replacement schedules. However, improper use, such as wearing them for too long or not cleaning them correctly, can lead to complications like infections or discomfort.

Sleeping with contact lenses generally increases the risk of eye infections and discomfort. The contact lenses are suggested depending on individual requirements, but Acuvue Oasys and Dailies Total1 are highly recommended and considered as the best contact lenses for eyes for comfort and oxygen permeability.

Top 3 Innovations in Contact Lenses in 2024

Below are three recent innovations in 2024 in the field of contact lenses to cater to several needs of consumers. Let's have a look.

1. Connect Contact Lens

Amazon Web Services (AWS) has introduced a new feature for Connect Contact Lens, its artificial intelligence tools for call center work, aimed at assisting workers with after-call work.

Connect Contact Lens uses generative AI summaries of customer conversations with contact center workers for management analysis. This is crucial for quality assurance and performance purposes, as supervisors cannot easily listen to audio or read through transcripts of hundreds of thousands of calls.  

2. Water Innovations Contact Lens

Alcon's Water Innovations contact lens technology portfolio focuses on enhancing comfort and wear-ability. Featuring nearly 100% water at the surface, these lenses ensure that only a gentle, hydrating layer touches the eye, providing a superior experience.

The DAILIES TOTAL1 and TOTAL30 lenses utilize Water Gradient Technology, which allows for a smooth transition from a high-water content surface to a lower water-content core, optimizing moisture retention throughout the day. This innovative approach aims to meet the needs of consumers seeking comfort and clarity in their vision correction solutions.

3. Smart Contact Lens

Dubai-based XPANCEO showcased five advanced prototypes at the AWE Asia conference, offering a glimpse into the future of wearable technology. The Smart Contact Lens with Nanoparticles for Color Correction is designed to enhancee color perception for individuals with color blindness, eliminating the need for bulky glasses.

The Smart Contact Lens with a Unique Optical Pattern for Verification will facilitate everyday tasks like making payments and transferring funds with greater ease and comfort.

Bottom Line

Contact lenses offer a versatile and comfortable alternative to traditional eyewear, catering to the diverse needs of millions. With advancements in technology, such as improved materials and designs, users can enjoy enhanced vision correction and eye comfort.

As the market continues to grow, driven by innovation and consumer preferences, contact lenses remain an essential solution for those seeking convenience and flexibility in their daily lives.

Market Study on Contact Lens Solution: PMR Anticipates Numerous Opportunities, Analysing the Increasing Trend of Wearing Colored Contact Lenses, Increasing Awareness About Eye Health, and Technological Advancements in Multi-purpose Solutions Offering Convenience and Hygiene

View Report

Research Methodology

Data-Driven Research Methodology for Accurate Insights

Contact Lens Solution Market

Research Designed to Meet your Specific Needs