More is demanded from ophthalmic treatments using contact lenses, which are currently used by over 125 million people around the world. Improving the material of contact lenses (CLs) is a now rapidly evolving discipline. These materials are developing alongside the advances made in related biomaterials for applications such as drug delivery. Contact lens materials are typically based on polymer- or silicone-hydrogel, with additional manufacturing technologies employed to produce the final lens. These processes are simply not enough to meet the increasing demands from CLs and the ever-increasing number of contact lens (CL) users. This review provides an advanced perspective on contact lens materials, with an emphasis on materials science employed in developing new CLs. The future trends for CL materials are to graft, incapsulate, or modify the classic CL material structure to provide new or improved functionality. In this paper, we discuss some of the fundamental material properties, present an outlook from related emerging biomaterials, and provide viewpoints of precision manufacturing in CL development.