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Global Toric Soft Contact Lens Market - Industry Trends and Forecast to 2031

Healthcare

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Global Toric Soft Contact Lens Market - Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Toric Soft Contact Lens Market, Product (Daily Wear Contact Lens, Extended Wear Contact Lens, Toric Contact Lens, Colored Contact Lens, Decorative Contact Lens, Others), Type (Conventional Hydrogel Material, Highly Breathable Silicone Hydrogel), End user (Hospital Pharmacies, Optical Shop, Online Stores, Others) - Industry Trends and Forecast to 2031.

Toric Soft Contact Lens Market

Toric Soft Contact Lens Market Analysis and Size

For many years, people with astigmatism had limited lens options to correct their vision, nowadays, toric contact lenses allow the use of contact lenses with astigmatism and still achieve optimal clarity. Toric contact lenses correct astigmatism caused by curvature of the cornea or lens of the eye, which can accompany myopia or hyperopia. The toric lens is a contact lens that has a particular shape, the toric shape is similarly shaped such as a donut.

Data Bridge Market Research analyses that the global toric soft contact lens market, which was USD 4.04 billion in 2023, expected to reach up to USD 6.16 billion by 2031 and is expected to undergo a CAGR of 5.40% during the forecast period. “Daily wear contact lens” dominates the product segment of the market owing to the growing adoption and usage of contact lens among the population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Daily Wear Contact Lens, Extended Wear Contact Lens, Toric Contact Lens, Colored Contact Lens, Decorative Contact Lens, Others), Type (Conventional Hydrogel Material, Highly Breathable Silicone Hydrogel), End User (Hospital Pharmacies, Optical Shop, Online Stores, Others)

Countries Covered

U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Sweden, Denmark, Poland, Rest of Europe, Japan, China, Australia, New Zealand, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, Ethiopia, Rest of the Middle East and Africa

Market Players Covered

CarlZeiss AG (Germany), Essilor International (France), Care Group (India), hoya Corporation (Japan), Johnson & Johnson Services, Inc (U.S.), SynergEyes (U.S.), Bausch + Lomb (Canada), UltraVision ClPL (U.K.), Valeant Pharmaceuticals International Inc.(U.S.), Ciba Vision (U.S.), Ginko International Co., Ltd. (Taiwan), CooperVision (U.S.), Contamac Ltd. (U.K.), Novartis AG (Switzerland), Sensimed AG (Switzerland)

Market Opportunity

  • Rising customization and personalization

Market Definition

A toric soft contact lens is a type of contact lens designed to correct astigmatism, a common refractive error caused by an irregularly shaped cornea or lens inside the eye. Unlike regular spherical contact lenses, which have the same power in all meridians, toric lenses have different powers in different meridians of the lens to compensate for the irregularities in the shape of the eye.

Global Toric Soft Contact Lens Market Dynamics

Drivers

  • Increasing Incidences of Astigmatism

Astigmatism is a common refractive error affecting a significant portion of the population worldwide. As awareness about vision correction options grows and more individuals seek treatment for astigmatism, the demand for toric soft contact lenses rises.

Growing Technological Advancements

Ongoing advancements in contact lens materials, manufacturing techniques, and design innovations have led to the development of more comfortable, stable, and effective toric soft contact lenses. These technological improvements contribute to increased adoption and patient satisfaction.

Opportunity

  • Rising Customization and Personalization 

There is a growing demand for personalized vision correction solutions tailored to individual needs and preferences. Opportunities exist to develop customizable toric soft contact lenses that address specific astigmatism prescriptions, eye shapes, and lifestyle requirements, providing patients with optimized visual outcomes and comfort.

Restraints

  • Patient Comfort and Adaptation

Toric soft contact lenses may pose challenges related to comfort and adaptation for some wearers, particularly during the initial adjustment period. Factors such as lens rotation, stability, and thickness variations can affect comfort and visual clarity, requiring careful evaluation and patient education to ensure satisfactory outcomes.

  • Complex Fitting Process

Fitting toric soft contact lenses requires precise measurements and customization to correct astigmatism effectively. Eye care professionals must have specialized training and expertise to accurately assess patients' needs and select the most suitable lens parameters, which can be time-consuming and challenging.

Challenge

  • High Cost of Contact Lens

Toric soft contact lenses tend to be more expensive than spherical lenses due to their specialized design and manufacturing processes. Cost considerations may deter some patients from opting for toric lenses, particularly in regions with limited access to affordable vision correction options or inadequate insurance coverage.

This global toric soft contact lens market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global toric soft contact lens market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Global Toric Soft Contact Lens Market Scope

The global toric soft contact lens market is segmented on the basis of product, type, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Daily wear contact lens
  • Extended wear contact lens
  • Toric contact lens
  • Colored contact lens
  • Decorative contact lens
  • Others

Type

  • Conventional Hydrogel Material
  • Highly Breathable Silicone Hydrogel

End User

  • Hospital Pharmacies
  • Optical Shop
  • Online Stores
  • Others

Global Toric Soft Contact Lens Market Regional Analysis/Insights

The global toric soft contact lens market is analyzed and market size insights and trends are provided by country, product, type, and end user as referenced above.

The countries covered in the global toric soft contact lens market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Sweden, Denmark, Poland, Rest of Europe, Japan, China, Australia, New Zealand, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, Ethiopia and Rest of the Middle East and Africa.

North America is the region which dominate the market due to the factors such as the presence of major players along with several emerging startups in the region, presence of highly developed medical and healthcare infrastructure.

Asia-Pacific region is the fastest growing region in the market due to rising demand and adoption of contact lens and the rising demand of fashion industry in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.  

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The global toric soft contact lens market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global toric soft contact lens market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on global toric soft contact lens market.

Competitive Landscape and Global Toric Soft Contact Lens Market Share Analysis

The global toric soft contact lens market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global toric soft contact lens market.

Some of the major players operating in the global toric soft contact lens market are:

  • CarlZeiss AG (Germany)
  • Essilor International (France)
  • Care Group (India)
  • hoya Corporation (Japan)
  • Johnson & Johnson Services, Inc (U.S.)
  • SynergEyes (U.S.)
  • Bausch + Lomb (Canada)
  • UltraVision ClPL (U.K.)
  • Valeant Pharmaceuticals International Inc.(U.S.)
  • Ciba Vision (U.S.)
  • Ginko International Co., Ltd. (Taiwan)
  • CooperVision (U.S.)
  • Contamac Ltd. (U.K.)
  • Novartis AG (Switzerland)
  • Sensimed AG (Switzerland)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Toric Soft Contact Lens Market size will be worth USD 6.16 billion by 2031 during the forecast period.
The Toric Soft Contact Lens Market growth rate is 5.40% during the forecast period.
The Increasing Incidences of Astigmatism and Growing Technological Advancements are the growth drivers of the Toric Soft Contact Lens Market.
The product, type, and end-user are the factors on which the Toric Soft Contact Lens Market research is based.
The major companies in the Toric Soft Contact Lens Market are CarlZeiss AG (Germany), Essilor International (France), Care Group (India), hoya Corporation (Japan), Johnson & Johnson Services, Inc (U.S.), SynergEyes (U.S.), Bausch + Lomb (Canada), UltraVision ClPL (U.K.), Valeant Pharmaceuticals International Inc.(U.S.), Ciba Vision (U.S.), Ginko International Co., Ltd. (Taiwan), CooperVision (U.S.), Contamac Ltd. (U.K.), Novartis AG (Switzerland), Sensimed AG (Switzerland).
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