Saudi Arabia Eye Care Market to Grow Due to Technological Advancement until 2026
Advancing healthcare industry is driving
the growth of Saudi Arabia Eye Care Market, in the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia Eye Care Market By Product Type
(Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Eye Vitamins, Others)
By Coating (Anti-Glare, UV, Others) By Lens Material (Normal Glass,
Polycarbonate, Trivex, Others) By Distribution Channel (Retail Stores,
E-Commerce, Clinics, Hospitals) By Region, Competition Forecast &
Opportunities, 2026”, Saudi Arabia eye care 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 eye care 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.
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The
Saudi Arabia eye care market is segmented by product type, coating, lens
material, distribution channel, competitional landscape, and regional
distribution. Based on coatings, the market is further sub-segmented into anti-glare,
UV, and others. Anti-glare coatings over the optic devices like glasses and
lenses is anticipated to hold the largest revenue shares of the market and
dominate the segment in the next five years. The growth can be attributed to
the growing demands of eye glasses and contact lenses for the prolong exposure
to the screens. With the extended work-schedules and the entertainment sector
involving long duration exposure to various screens, the demand for the
anti-glare glasses in rapidly increasing and aiding the growth of the market in
the next five years. UV is a popular method of eyesight repair and correction
and thus is anticipated to hold significant growth of the market segment in the
next five years. These factors are further aiding to the growth of the market
in the subsequent five years.
Based
on product type, the market is further bifurcated into eyeglasses, contact
lens, intraocular lens, eye drops, eye vitamins, and others. Eye glasses are
anticipated to hold the largest shares of the revenue in the market segment.
The sub-segment might dominate the market segment on the account of rapidly
increasing cases of weak eyesight among the population. Rising geriatric
population, and increased cases of weak eye sight in the young children are the
major driving factor for the market growth. Lifestyle of the population and
their involvement in the activities like prolong exposure to the screen like
smartphones, television, laptops, gaming station etc. is aiding to the
extensive growth of the demand for eyeglasses in the subsequent five years.
Contact lenses are anticipated to register fastest growing CAGR in the next
five years on the grounds of consumer inclination toward contact lenses for the
weaker eyesight. Also, due to the trend of multiple colored eye lenses for the
aesthetics and makeovers, the demand for the same is rapidly increasing and
substantiating the growth of the Saudi Arabia eye care market in the upcoming
five years.
A
partial list of market player in the Saudi Arabia eye care market includes
Bausch Health Companies, Inc. (Saudi Arabia), Alcon, Inc. (Saudi Arabia),
Johnson & Johnson, Cooper Vision, Inc. (Saudi Arabia), Essilor Luxottica
Group (Saudi Arabia), AbbVie Inc. (Saudi Arabia), Carl Zeiss, Inc. (Saudi
Arabia), Novartis Saudi Arabia, Pfizer Saudi Limited, Al Barakat Group Company
Ltd. (TRIANO Lab) 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 eye care 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 eye care 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 Eye Care Market By Product Type (Eyeglasses, Contact Lens, Intraocular
Lens, Eye Drops, Eye Vitamins, Others) By Coating (Anti-Glare, UV, Others) By
Lens Material (Normal Glass, Polycarbonate, Trivex, Others) By Distribution
Channel (Retail Stores, E-Commerce, Clinics, Hospitals) By Region, Competition Forecast
& Opportunities, 2026” has evaluated the
future growth potential of Saudi Arabia eye care 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 eye care market.
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