Market Outlook:
The global color contact lenses market was valued at USD 4,067.17 Million in 2019 and is projected to reach USD 8,670.44 Million by 2027, expanding around a CAGR of 9.9% during the forecast period. In terms of volume the color contact lenses market is anticipated to grow approximately by CAGR of 9.3% over the coming years. Contact lenses serves the need to improve the use of bulky spectacles, but also deliver the added advantage of improving one’s visual appeal. The growing modernizations in the production of colored contact lenses during the past period have steered to the use of several resources for producing colored contact lenses that serve numerous purposes. Contact lenses have been used to treat common eye illnesses, such as hypermetropia, myopia, astigmatism, presbyopia, and glaucoma.
Market Dynamics
The major factors motivating the color contact lenses market consist of an increasing number of eye disorders, growing attractiveness of colored contact lenses over eyeglasses and the demand for well facial aesthetics between the entertainment industry and the youth.
Increasing demand for comfortable and soft color contact lens controls the sensible growth. Hydrogel has proved a hard motivation over the last few years due to its profits as related to another corresponding item. Some of the benefits are a low risk of eye infection and comfort for consumers.
Segmental Outlook
On the basis of type, the global Color Contact Lenses Market is segmented as visibility tint, enhancement tint, and opaque tint. The visibility tint segment is anticipated to expand at a CAGR around of 8.7% during the forecast period as these lenses are used primarily to help the individual have better vision during insertion and removal, or if lenses are taken out. The enhancement tint segment is estimated to hold 1/4th of share of the market in 2020 as these lenses are designed to enhance the regular eye color without converting the natural shade.
Based on application, the market is segmented into with vision correction, without vision correction. With vision correction account for the major share as it is used to improve the appearance of a disfigured cornea, crystalline lens, iris, or sclera. Any part of the eye may become disfigured due to trauma, ocular disease, systemic health problems, or congenital defects. The color contact lenses with vision correction may also be used to disguise an enucleated eye, to patch an eye during vision therapy, to reduce glare or photophobia or to treat intractable binocular diplopia.
Definitions
By Application
With Vision Correction
With Vision Correction is a prosthetic contact lenses define as polymethylmethacrylate (PMMA) contact lenses, scleral contact lenses, rigid gas permeable (RGP) contact lenses or soft contact lenses. A prosthetic contact lens is a painted or tinted contact lens used to improve the appearance of a disfigured eye or to help correct the vision of a poorly functioning eye. The tinted contact lenses term is used for referring both type of contact lenses including prosthetic and cosmetic contact lenses.
Prosthetic contact lenses may be used to improve the appearance of a disfigured cornea, crystalline lens, iris, or sclera. Any part of the eye may become disfigured due to trauma, ocular disease, systemic health problems, or congenital defects. The color contact lenses with vision correction may also be used to disguise an enucleated eye, to patch an eye during vision therapy, to reduce glare or photophobia or to treat intractable binocular diplopia.
Without Vision Correction
Without Vision Correction is known as Cosmetic contact lenses, also called Plano or zero-power lenses generally used for fashion statement. But this specific fashion statement can have some serious health risks and disadvantages. The lenses have been bought by individuals without prescription at beach shops, boutiques, tattoo parlors and other unprofessional retail sellers. There have been many serious cases of youths who almost lost their vision as a result of inappropriate use of these lenses. Youths are major buying customers of these lenses. Though, many teens do not take necessary precautions with the lenses and that is why they develop eye problems.
Cosmetic lenses may be used to change or enriched an eye color for fun or ease of heterochromia congenital or acquired or simply for improved lenses handling purposes particularly for hypermetropes.
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