Why Do Old People Require Contact Lenses?

The United Nations Population Fund (UNFPA) forecasts that nearly 22% of the global population will be aged 60 years and above by 2050. Furthermore, the United Nations Department of Economic and Social Affairs (UNDESA) predicts that the population of individuals aged 65 years and more will surge from 727 million in 2020 to 1.5 billion by 2050. This age group is often affected by vision problems as they experience a variety of age-related stressors. To deal with this challenge, old people are creating a huge requirement for contact lenses, globally.

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Moreover, the mounting healthcare expenditure is also expected to fuel the contact lenses market growth during 2021–2030. Owing to these reasons, the market revenue is projected to surge from $7.5 billion in 2020 to $16.0 billion by 2030. For instance, the World Bank estimated that 9.86% of global gross domestic product (GDP) was spent on healthcare in 2018. The increasing healthcare expenditure is attributed to the soaring public awareness on advanced medical products and escalating disposable income of people.

At present, Johnson & Johnson Pvt. Ltd., Alcon Vision LLC, Bausch Health Companies Inc., CooperVision Inc., and others are manufacturing tinted, opaque, and enhanced contact lenses with hybrid, hydrogel, glass permeable, silicone hydrogel, and polymethyl methacrylate (PMMA) materials. These lenses are available at retail stores, e-commerce platforms, and hospitals and clinics. These distribution channels offer toric, spherical, cosmetic, monovision, and multifocal contact lenses for their customers.   Such contact lenses can be used for daily, extended, and traditional wear. 

According to P&S Intelligence, North America has consumed the highest quantity of contact lenses in recent years, due to the increasing usage of smartphones, computers, and televisions, and the surging prevalence of vision ailments, owing to the booming elderly population. For instance, the Government of Canada estimates that, by 2030, over 9.5 million people in the country will be aged 65 years or more. The government also forecasts that the average life expectancy at birth for women and men of Canada will be 86.2 years and 82.9 years, respectively, by 2036. 

Thus, the escalating aging population and the soaring healthcare expenditure will fuel the usage of contact lenses, worldwide.