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Bandage Contact Lenses Market Analysis

The Bandage Contact Lenses Market size is estimated at USD 5.93 billion in 2024, and is expected to reach USD 8.64 billion by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).

The rising prevalence of corneal disorders around the world, such as keratitis and dry eye disease, is a major factor driving the market growth, as it is expected to boost the usage of bandage contact lenses. For instance, according to an article published by the journal UpToDate in February 2023, the prevalence of dry eye disease (DED) ranged from 5% to 50% globally. The source also stated that a study in the United States showed that the pooled prevalence of dry eye disease was 8.1% in 2022. Hence, the high prevalence of such corneal disorders is expected to drive the adoption of bandage contact lenses, thereby driving the growth of the market studied.

Moreover, the growing burden of cataracts is anticipated to drive the demand for bandage contact lenses, as they are often used after cataract surgeries. For instance, according to the data updated by the World Health Organization (WHO) in August 2023, around 94 million people around the world in 2022 were diagnosed with cataracts, which caused distance vision impairment or blindness. Thus, the high prevalence of cataracts is expected to enhance the usage of bandage contact lenses. Moreover, various sources have stated that diabetic patients are associated with diabetic corneal alterations, such as delayed epithelial wound healing, edema, recurrent erosions, and neuropathy or loss of sensitivity. Therefore, people with diabetes are more likely to develop corneal diseases, which is predicted to increase demand for bandage contact lenses and stimulate market expansion.

In addition, new product launches and strategic activities by major players in the market are expected to positively affect the market's growth. For instance, in September 2022, Johnson & Johnson Vision Care, Inc., a part of Johnson & Johnson MedTech, launched the ACUVUE OASYS MAX 1-DAY contact lenses and ACUVUE OASYS MAX 1-Day MULTIFOCAL contact lenses for presbyopia. The contact lenses helped in reducing discomfort by providing visual clarity with new technologies to filter blue-violet light. Thus, owing to such developments, the market studied is expected to witness significant growth over the forecast period. However, the availability of alternative products and lack of knowledge about bandage contact lenses are likely to impede market growth.

Bandage Contact Lenses Market Trends

The Post-ocular Surgery Segment is Expected to Witness Significant Growth Over the Forecast Period

Bandage Contact Lenses Industry Segmentation

As per the scope of the report, bandage contact lenses are worn in the eyes for an extended period. A bandage contact lens is worn to protect the front part of the eye (cornea) during healing.

The bandage contact lenses market is segmented by lens type (soft lens and rigid lens), application (corneal disorders, post-ocular surgery, and other applications), distribution channel (hospital pharmacy, retail pharmacy, and online pharmacy), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers market sizes and forecasts in terms of value (USD) for the above segments.