Saudi Arabia Contact Lens Market is Projected to Grow at a CAGR of 5.5% through 2026
Advancing eye care facility is
driving the growth of Saudi Arabia Contact Lens Market in the forecast period,
2022-2026.
According to TechSci Research report, “Saudi
Arabia Contact Lens Market By Material Type (Silicone Hydrogel, Hydrogel,
Gas permeable, Others), By Design (Spherical, Toric, Multifocal, Others), By
Wear Type (Reusable v/s Disposable), By Application (Cosmetics, Corrective,
Therapeutic, Others), By Distribution Channel (Optical Stores, Beauty Centers,
Online (Hospital & Clinics), Pharmacies, Stand Alone Pharmacies), By
Region, Competition Forecast & Opportunities, 2026, ” Saudi
Arabia contact lens market is projected to reach USD379.94 million in 2026 from
USD280.23 million in 2020 at a CAGR of 5.5.%. 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 towards prolonged screen exposure like smart
phones, laptops, televisions etc. is further expected to substantiate the
growth of the market in the next five years. Additionally, the market growth is
heavily dependent upon media influences and recent trends of multicolor contact
lenses that are used by models, actors, entertainers, etc.
The
growing adoption of laser eye surgery or laser vision correction, a type of
refractive surgery for the treatment of myopia, hypermyopia, astigmatism, among
others, is expected to negatively influence the market growth of the contact
lenses, since people are opting for laser eye surgeries and getting their
vision or eye related problems corrected rather than using contact lenses. In
addition to this, the lack of trained healthcare professionals (this includes
ophthalmologists, opticians, among others) in the country can restrict the
market growth over the next few years. Since, the number of skilled
professionals is less, or proper facilities are not provided, the growth of the
overall contact lenses market in Saudi Arabia is expected to get affected.
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Figures spread through 88 Pages and an in-depth TOC on "Saudi Arabia Contact
lens 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 Saudi Arabia contact lenses market can be
split into spherical, toric, multifocal and others. The spherical segment is
expected to dominate the market through 2026 on account of its widespread
adoption by optometrists and patients for the treatment of different ocular
problems such as myopia, hypermetropia, among others. While the toric segment
is expected to register significant growth during the forecast period on
account of associated benefits with toric design such as ease of use, comfort
in wearing and greater lens to lens reproducibility.
The
applications of contact lenses can be fragmented as corrective, therapeutic,
cosmetics and others. The corrective segment is expected to grow in the coming
years on account of its widespread use in correcting and treating different
vision impairment problems. While therapeutic segment is expected to grow
significantly during forecast period on account of use of contact lenses in corneal
healing, ocular pain relief, among others. The cosmetics segment dominates the
market on account of the extensive use of contact lenses for improving the
aesthetic appeal of eyes. Also, the colored contact lenses are being majorly
used by the young generation and entertainment industry, thereby supporting the
segmental growth.
The
major companies operating in Saudi Arabia contact lens market includes Al-Jamil
Optical Co., CooperVision, Inc.,
EssilorLuxottica SA, Alcon Inc., Johnson
& Johnson, among others. The market is being dominated by players such as
Johnson & Johnson and Alcon, Inc who are operating in the market since
long. All the distributors/suppliers are having the contact lenses of these
brands. Additionally, the contact lenses of these brands are available on all
the online platforms also. These companies are bringing their newly launched
products across Saudi Arabia to stay competitive in the market and are having
an edge over other players in the market. The market also consists of various
local brands such Tutti, among others.
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“Research
and technological advancement for the best available product manufacturing is
going to be a golden rule 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 (Reusable v/s Disposable), By Application (Cosmetics, Corrective, Therapeutic,
Others), By Distribution Channel (Optical Stores, Beauty Centers, Online
(Hospital & Clinics), Pharmacies, Stand Alone Pharmacies), 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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