THERAPEUTIC CONTACT LENSES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Regional Analysis

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Dominating Region: North America

North America dominates the therapeutic contact lenses market with an estimated share of 37.2% in 2024. This can be attributed to factors such as the strong presence of major players, favorable government policies supporting research and development, and high patient awareness levels. The U.S. dominates the North American market due to the large patient population and focus on technological advancements in eye care.

Fastest-Growing Region: Asia Pacific

The Asia Pacific region exhibits the fastest growth due to rising geriatric population, increasing healthcare expenditure, growing awareness regarding vision correction procedures, and supportive government initiatives in countries such as China and India.

Therapeutic Contact Lenses Market Outlook for Key Regions

U.S.’ Advanced Healthcare

The U.S. therapeutic contact lenses market growth is driven by advancements in manufacturing and inspection technologies, and a growing consumer emphasis on eye health and convenience. Increasing preference for contact lenses for vision correction prompted manufacturers to enhance inspection processes to ensure quality and safety. Notably, in March 2022, Johnson & Johnson Vision Care, Inc. received the U.S. FDA approval for ACUVUE Theravision with Ketotifen, daily disposable lenses that alleviate allergic conjunctivitis-related eye itching while correcting vision.

Growing Awareness and Accessibility in Canada

Canada's therapeutic contact lenses market growth is fueled by increasing awareness of eye health and corneal disorders. In November 2020, according to the Canadian Ophthalmological Society, corneal disorders affect approximately 1 in 500 Canadians, leading to a growing demand for therapeutic lenses.

Rapid Prevalence of Myopia in China

China therapeutic contact lenses market is expanding rapidly due to government initiatives aimed at improving healthcare access. As of July 2023, according to the National Institutes of Health (NIH), the prevalence of myopia among children in China has reached approximately 53%. This statistic highlights the urgent need for effective vision correction solutions, including therapeutic contact lenses.

High Prevalence of Myopia in India

Myopia, or nearsightedness, is increasingly prevalent among Indian schoolchildren. For instance, according to a study published in ResearchGate, in October 2024, the prevalence of myopia among school-aged children in India reached approximately 30-40%, which has led to the increased demand for corrective solutions, including therapeutic contact lenses.