Saudi Arabia Contact Lens Market to Grow Due to Technological Advances until 2026
Advancing eye care facility is driving
the growth of Saudi Arabia Contact Lens Market, in the forecast period,
2022-2026.
According to TechSci report on, “Saudi Arabia Contact Lens Market By Material Type
(Silicone hydrogel, Hydrogel, Gas permeable, Others) By Design (Spherical,
Toric, Multifocal, Others) By Wear Type (Disposable v/s Reusable) By
Application (Corrective, Therapeutic, Cosmetic, Others) By Distribution Channel
(Retail Stores, Hospitals & Clinics, Online) By Region, Competition
Forecast & Opportunities, 2026”,
Saudi Arabia contact
lens market has shown
promising growth in historical years until 2019 and is expected to continue its
growth in upcoming forecast years 2021 to 2026. Saudi Arabia contact lens market
owes its growth to the factors like rapidly evolving healthcare facility in the
country. Kingdom of Saudi Arabia is supporting and evolving the healthcare
industry with advanced technology and extended research and the factor is
driving the growth of the market. Moreover, rising geriatric population of the
country along with the young population inclined toward prolonged screen
exposure like smart phones, laptops, televisions etc. is further substantiating
the growth of the market in the next five years. Additionally, the market
growth is heavily dependent upon media influences ad recent trends of
multicolor contact lenses that has application among the models, actors,
entertainers, etc.
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Market"
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The
Saudi Arabia contact lens market is segmented by material type, design, wear
type, application, distribution channel, competitional landscape, and regional
distribution. Based on design, the market is sub-segmented into spherical,
toric, multifocal, and others. Spherical designs of the contact lenses is
anticipated to hold the largest revenue shares of the market and is expected to
dominate the market segment on the account of higher adoption of these lenses
by optometrists and patients to treat myopia and hypermetropia. Multifocal
contact lens is expected to register significant growth in the market share in
the upcoming five years o the account of rapidly increasing demand for the
multifocal contact lenses. Moreover, surge in the prevalence of cataract or
development of clouding over the lenses is substantiating the growth of the
market in the next five years. Supportive government initiatives to promote the
healthcare industry is encouraging people to visit hospitals and get their
vision checked thereby ensuring proper treatment.
Based
on material type, the market is further bifurcated into silicone hydrogel,
hydrogel, gas permeable, and others. Silicone hydrogel lenses offer various
advantages like greater comfort, and more flexible over the gas permeable
lenses thus, silicone hydrogel lenses are anticipated to hold the largest
shares of the market and assert its dominance over the market in the upcoming
five years. Although hybrid version that contains the property of silicone
hydrogel as well as that of gas permeable lenses are anticipated to be the
fastest growing market segment in the next five years due to added advantages
of risk-free usage.
A
partial list of market player in the Saudi Arabia contact lens market includes
Bausch & Lomb Saudi Arabia, Johnson & Johnson Saudi Arabia, Alcon Saudi
Arabia, AlJamil Optical (Amara Lenses), Monros International General Trading
and Contracting Company W.L.L. (Anaethesia Lenses), LensMe Saudi Arabia,
Versace Saudi Arabia, Carl Zeiss Saudi Arabia (Dehlawi Optical Industries and
Zaid Al-Hussain Group Trading & Contracting Est.), CooperVision Saudi
Arabia, EssilorLuxottica Group Saudi Arabia, among others. These market players
hold larger shares of the market than the new market players. With the evolving
technology, it is appropriate to say that the effective research and
development of the technologically advanced instruments and methods to satisfy
consumer demands would support the market growth and benefit the market players
as well as the consumers. New market players may focus on the research and
development to provide such products and services that satisfies the consumer
demand as well as benefits the market players in building their brand value.
Other competitive strategies include mergers & acquisitions and new product
developments.
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“Research
and technological advancement for the best available product manufacturing is
going to be golden rules for the growing and expanding contact lens market in Saudi
Arabia. The consumers in need of healthcare facility for the best possible
eyecare is further anticipated to drive the market growth. New market players
are advised to study the market thoroughly. The product demand is ever evolving
therefore they must invest in the advanced material for the contact lens that
is aesthetically pleasing like multi-color lenses as well as advanced
technology and satisfy the consumer demands,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi
Arabia Contact Lens Market By Material Type (Silicone hydrogel, Hydrogel, Gas
permeable, Others) By Design (Spherical, Toric, Multifocal, Others) By Wear
Type (Disposable v/s Reusable) By Application (Corrective, Therapeutic,
Cosmetic, Others) By Distribution Channel (Retail Stores, Hospitals &
Clinics, Online) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi
Arabia contact lens market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Saudi Arabia contact
lens market.
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