Canada Contact Lenses Market to be dominated by Toric Type Contact Lenses Through 2028
Canada Contact Lenses Market growth is driven
by the increasing prevalence of ophthalmic disorders in the forecast period,
2024-2028.
According to
TechSci Research report, “Canada Contact Lenses Market - By Region,
Competition, Forecast and Opportunities, 2028”, Canada Contact Lenses Market
is anticipated to grow at an impressive rate in the forecast period, 2024-2028.
This can be ascribed to the increasing adoption of these ocular prosthetic
devices among developing region and rising prevalence of refractive errors. Additionally,
growing awareness concerning the benefit of detachable lenses over reusable
lenses, such as avoiding cleaning solution-related adverse effects, including
eye discoloration is expected to create lucrative opportunities for Canada contact
lenses market growth in coming years. Besides, growing technological
advancement that reshapes the cornea to improve vision which involves wearing
specially developed overnight contact lenses to change the structure of the
eye’s during sleep is further expected to support Canada Contact Lenses market
growth in coming years.
However, contact lenses can be expensive, especially for people with
complex prescriptions which can slow down the growth of Canada contact lenses market
in the forecast period. Similarly, Contact lens wearers are at risk of developing
eye infections and complications, such as corneal ulcers and microbial
keratitis which may hamper the Canada contact lenses market growth during the
forecast period. Also, the contact lenses market is subject to regulation by
Health Canada, which requires market players to comply with strict safety and
quality standards which can further restrict the growth of Canada contact
lenses market. Contact lenses may not be suitable or preferred by some
demographics, such as older adults, who may have difficulty handling lenses or
adjusting to changes in their vision.
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Canada Contact
Lenses market can be segmented by material type, design type, wear type,
application, distribution channel, and by region.
Based on material
type, Canada contact lenses market can be segmented into Silicone hydrogel, hydrogel,
and others. The silicone hydrogel segment dominated Canada contact lenses market
in 2022 and is expected to continue maintaining its dominance throughout the
forecast period. This can be ascribed to growing demand for greater comfort and
flexibility than gas-permeable lenses along with growing demand for soft lenses
without any risk. Based on design type, canada contact lenses market can be
segmented into spherical, Toric, multifocal, and others. The Toric lenses segment
dominated Canada contact lenses market in 2022 and is expected to continue
maintaining its dominance throughout the forecast period. This can be ascribed
to growing incidences of myopia and more prolonged use of tablets, laptops, and
smartphones causing digital eye strain.
Based on distribution
channel, Canada contact lenses market can be segmented into retail stores,
hospitals & clinics, and online. The retail stores segment is expected to
dominate Canada Contact Lenses market during the forecast period on account of growing
due to manufacturers' initiative to produce advanced products at very
affordable prices at retail stores, which are again combined with extra
discounts offered by retail sellers. The strong growth of retail pharmacies in
developed country such as Canada is anticipated to boost the growth of Canada contact
lenses market during the forecast period.
Major companies operating in Canada Contact
Lenses market are:
- Bausch &
Lomb Canada Inc
- Alcon Canada,
Inc.
- Johnson &
Johnson Inc
- Cooper Vision
Ltd
- Carl Zeiss
Canada Ltd.
- Essilor
Luxottica Canada Inc.
- Minuteman
Canada Inc
- Contamac
Holdings Ltd
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“Canada Contact
Lenses market is expected to drive the market during the forecast period due to
the increase in number of key players to develop new type of Contact Lenses along
with rapidly growing geriatric population with elevated risk of ophthalmic
disorder and increase in demand for disposable contact lenses with affordable
price in the region. Furthermore, the increase in adoption of disposable contact
lenses and growing demand for quality medical care are further contributing to demand
for contact lenses market. Similarly, rise in awareness regarding different
type of vision correction treatments are the major key factors and increase in
focus and availability of Contact Lenses in offline store are the major factors
contributing the growth of Canada Contact Lenses market during the forecast
period. Besides, growing disposable income and increasing large patient pool in
eye clinics in the region is further expected to create lucrative opportunities
for the market growth” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Canada Contact Lenses Market By Material
Type (Silicone hydrogel, Hydrogel, Others), By Design Type (Spherical, Toric,
Multifocal, Others), By Wear Type (Monthly Disposable, Daily Disposable, Yearly
Disposable), By Application (Corrective, Cosmetic, Others), By Distribution
Channel (Retail Stores, Hospitals & Clinics, Online), By Region,
Competition, Forecast and Opportunities, 2028”, has evaluated the future
growth potential of Canada Contact Lenses 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 Canada Contact Lenses Market.
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