South
Korea Contact Lenses market
is anticipated to witness a growth of impressive CAGR in the forecast period
2024-2028. This can be ascribed to the growing
burden of ocular diseases and refractive errors due to more screen hours. The
increasing prevalence of hypermetropia and presbyopia is likely to be a key
driver of growth in the contact lens market in South Korea, particularly for
multifocal contact lenses. Additionally, the expansion of the South Korea Contact
Lenses market is being influenced by the increasing demand for cosmetic contact
lens to look good. Due to the development of new technologies, the contact
lenses market in South Korea is predicted to increase significantly over the coming
years. The aging population in South Korea is one of the key drivers of the
contact lens market. As people age, they are more likely to develop presbyopia,
which is a condition where the eyes lose their ability to focus on near
objects. This has led to an increased demand for multifocal contact lenses,
which can correct both near and far vision. Technological advancements in
contact lens materials, designs, and manufacturing processes have led to the
development of more comfortable, durable, and breathable contact lenses. For
instance, daily disposable lenses, silicone hydrogel lenses, and
orthokeratology lenses are becoming increasingly popular in South Korea.
Additionally, advances in digital technology and telemedicine are allowing for
easier and more convenient access to contact lenses and eye care services. Advancements
in sensor technology and miniaturization have led to the development of smart
contact lenses that can monitor a variety of health metrics, such as blood
glucose levels or intraocular pressure. These types of contact lenses have the
potential to revolutionize the way patients manage chronic health conditions.
New technologies have made it possible to create
customized contact lenses that are tailored to individual patients' needs. This
can include lenses that correct for specific visual impairments, such as
astigmatism, or that are designed to fit the unique shape of a patient's eye.
In addition, the growing popularity of contact lenses over
prescription glasses in South Korea is likely to drive demand for contact
lenses as a solution to hypermetropia and presbyopia. Contact lenses offer
several advantages over glasses, such as improved aesthetics, convenience, and
comfort, which are particularly appealing to younger and middle-aged consumers
who are more likely to be affected by hypermetropia and presbyopia. On the other side, lack of skilled professionals (ophthalmologists), strict
regulatory policies, and limited awareness are hampering the market growth. The
contact lens market in South Korea is heavily regulated, with strict rules
governing the manufacture, distribution, and sale of contact lenses. These regulations
can be complex and vary by region, making it challenging for companies to
navigate the regulatory environment and maintain compliance. Many consumers in
South Korea are unaware of the importance of proper lens care and the potential
health risks associated with improper use of contact lenses. This lack of
awareness can lead to a range of problems, including eye infections, corneal
ulcers, and other serious eye conditions. In some cases, these issues can lead
to permanent vision loss. As a result, many consumers are hesitant to try
contact lenses or are wary of using them on a regular basis.
IOP(Intraocular
Pressure) monitoring and medicine administration are managed by a smart contact
lens that a research team at POSTECH has created by combining an IOP sensor and
a flexible drug delivery system.
Growing
Incidences of Myopia
Myopia, also
known as nearsightedness, is a common vision problem that causes distant
objects to appear blurry while close objects remain clear. The prevalence of
myopia is increasing globally, with Asia being one of the most affected
regions. South Korea is no exception, with the country reporting a growing
incidence of myopia among its population in recent years.
The rising
incidence of myopia in South Korea has led to an increased demand for
corrective measures such as eyeglasses, contact lenses, and refractive
surgeries. Contact lenses, in particular, have seen a surge in popularity due
to their convenience and aesthetic appeal compared to eyeglasses. The contact
lens market in South Korea is highly competitive and is dominated by
multinational players such as Johnson & Johnson, Alcon, and Bausch + Lomb.
These companies offer a wide range of products, including daily disposable
lenses, monthly disposable lenses, and specialty lenses for specific eye
conditions. However, the increasing incidence of myopia has also led to the
development of new products in the contact lens market. Hypermetropia, also
known as farsightedness, and presbyopia, which affects near vision in
individuals over 40 years old, are also common ocular disorders that can be corrected
with contact lenses. Contact lenses offer an effective solution for addressing
these disorders, particularly multifocal lenses that can correct both near and
far vision. Astigmatism is another ocular disorder that can be corrected with
contact lenses. In the past, astigmatism was considered a contraindication for
contact lens wear, but advancements in contact lens design have made it
possible to create toric lenses that can correct astigmatism effectively.
For instance,
orthokeratology lenses, which are worn overnight to reshape the cornea and
correct myopia, have gained popularity in recent years. Additionally,
multifocal contact lenses, which offer clear vision at different distances,
have also become more common.
Myopia is more
common in East Asian nations including China, Japan, South Korea, and
Singapore, according to the WHO.
The growing
incidence of myopia in South Korea is likely to continue to influence the
contact lens market in the country. Companies will continue to innovate and
develop new products to meet the evolving needs of consumers with myopia.
Increasing
Preference for Contact Lenses Over Prescription Glasses
One
of the key drivers of growth has been the increasing preference for contact
lenses over prescription glasses among the population. Contact lenses offer
several advantages over prescription glasses, such as improved convenience and
aesthetics. Contact lenses do not fog up or get smudged like glasses, making
them ideal for activities such as sports and outdoor activities. Additionally,
contact lenses offer a more natural look, allowing users to showcase their
facial features without the obstruction of glasses frames. The preference for
contact lenses over glasses is particularly strong among younger generations in
South Korea.
To
cater to the growing demand for contact lenses, companies are developing new
products and technologies that offer greater comfort, convenience, and safety.
For instance, daily disposable lenses, which can be worn once and then
discarded, are becoming increasingly popular as they offer greater hygiene and
convenience compared to traditional lenses. Additionally, companies are
investing in new materials and designs that make lenses more comfortable and
breathable for extended periods of wear. In conclusion, the increasing
preference for contact lenses over prescription glasses among the population is
a significant driver of growth in the contact lens market in South Korea.

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Market
Segmentation
South
Korea Contact Lenses Market can be segmented by modality, by design, by
material type, by application, by distribution channel and by region. Based on
modality, the market can be divided into Reusable and Disposable. Based on
design, the market is divided into Spherical, Toric, Multifocal, and Others.
Based on material type, the market is divided into Silicone Hydrogel, Hydrogel,
Gas Permeable and Others. Based on application, the market is divided into
Corrective, Therapeutic, Cosmetic and Others. Based on distribution channel,
the market is divided into Retail Stores, Hospitals & Clinics and Online.
Market
Players
Johnson
& Johnson Korea Ltd., Alcon Korea Ltd, Menicon Korea Co., Ltd.,
EssilorLuxottica SA, HOYA LENS KOREA CO., LTD., Geo Medical Contact Lens,
Polytouch Contact Lens Co., Belmore Contact Co., Ltd., Dreamcon Co., Ltd.,
G&G Contact Lens are some of the leading players operating in the South
Korea Contact Lenses Market.
Attribute
|
Details
|
Base
Year
|
2022
|
Historic
Data
|
2018 – 2021
|
Estimated
Year
|
2023
|
Forecast
Period
|
2024 – 2028
|
Quantitative
Units
|
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028
|
Report
coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
|
Segments
covered
|
By Modality
By Design
By Material
Type
By
Application
By
Distribution Channel
By
Region
|
Regional
scope
|
North; South;
Central
|
Key
companies profiled
|
Johnson
& Johnson Korea Ltd., Alcon Korea Ltd, Menicon Korea Co., Ltd.,
EssilorLuxottica SA, HOYA LENS KOREA CO., LTD., Geo Medical Contact Lens,
Polytouch Contact Lens Co., Belmore Contact Co., Ltd., Dreamcon Co., Ltd.,
G&G Contact Lens
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
Delivery
Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report
Scope:
In this report,
South Korea Contact Lenses Market has been segmented into following categories,
in addition to the industry trends which have also been detailed below:
- South Korea Contact Lenses Market,
By Modality:
- South Korea Contact Lenses Market,
By Design:
- Spherical
- Toric
- Multifocal
- Others
- South Korea Contact Lenses Market,
By Material Type:
- Silicone Hydrogel
- Hydrogel
- Gas Permeable
- Others
- South Korea Contact Lenses Market,
By Application:
- Corrective
- Therapeutic
- Cosmetic
- Others
- South Korea Contact Lenses Market,
By Distribution Channel:
- Retail Stores
- Hospitals & Clinics
- Online
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in South Korea Contact Lenses Market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
South Korea
Contact Lenses Market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]