With the surging population of geriatric people, the demand for contact lenses is soaring across the globe. According to the 2020 World Population Aging report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As vision ailments are highly prevalent among geriatric people, the ballooning population of older people is fueling the sales of contact lenses.
Out of the daily wear, traditional wear, and extended wear contact lenses, the demand for the daily wear contact lenses was found to be the highest in 2020. This was because of the high risk of vision ailments, which became a major concern, on account of the regular wearing of masks by people to reduce the spread of the COVID-19 infection.
Furthermore, the rising incidence of vision ailments, on account of the increasing screen time of people, is massively boosting the demand for spherical lenses across the world. Geographically, North America was the dominant region in the contact lenses market in 2020. This was primarily because of the presence of a large geriatric population and the high prevalence of vision ailments in the region. In addition to these, the adoption of sedentary lifestyles and the surging screen time of people have massively increased the occurrence rate of vision ailments in the region, thereby propelling the requirement for contact lenses.
Hence, it is clear from the above paragraphs that the demand for contact lenses will rise enormously in the forthcoming years, primarily because of the mushrooming population of geriatric people, increasing per capita income in several countries, surging healthcare expenditure, and the growing prevalence of vision ailments across the world.
