Saudi Arabia Contact Lens Market to grow with a CAGR of 6.36% through 2029
According to TechSci Research report, “Saudi
Arabia Contact Lens Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2019-2029”, Saudi Arabia Contact Lens Market was
valued at USD 0.34 billion in 2023 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 6.36% through 2029. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to strengthen
their position in the market.
Aesthetic
preferences play a significant role in driving the demand for contact lenses.
Many individuals choose contact lenses not only for their vision correction
capabilities but also for the aesthetic benefits they offer. One of the primary drivers is the
popularity of colored contact lenses. These lenses allow individuals to change
or enhance the color of their eyes for cosmetic purposes. People may choose
colors that complement their natural eye color or experiment with bold and
vibrant shades to achieve a unique look. Contact lenses can be used for
cosmetic enhancement, creating a desired appearance, or transforming one's
overall look. This is particularly appealing to individuals who want to enhance
their natural features or achieve a specific aesthetic goal. Contact lenses are
available in various styles and designs, catering to diverse aesthetic
preferences. This includes lenses with different patterns, designs, and
effects, such as cat-eye or anime-inspired lenses, providing users with options
to express their individual style.
Aesthetic preferences often align with
special occasions and fashion trends. For events such as parties, weddings, or
themed gatherings, individuals may choose contact lenses that complement their
outfits or match a specific theme. Some individuals prefer the natural look
that contact lenses provide over traditional eyeglasses. Contact lenses allow
wearers to showcase their facial features without the visual interruption of
frames, offering a subtle and natural appearance.
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Competition
from eyeglasses and surgical procedures poses challenges to the Saudi Arabia
Contact Lens Market. Eyeglasses are a traditional and
well-established vision correction option. The familiarity and ease of use
associated with eyeglasses make them strong competitors to contact lenses,
especially among individuals who are not comfortable with the idea of inserting
and removing lenses. Surgical procedures like LASIK (laser-assisted in situ
keratomileusis) provide a more permanent solution to vision correction. While
these procedures may have higher upfront costs, individuals may view them as a
long-term investment compared to the ongoing expenses associated with contact
lenses. Eyeglasses may be perceived as a more cost-effective option
compared to contact lenses, especially if individuals are on a tight budget.
This cost consideration can influence the choice between eyeglasses and contact
lenses. Over the counter, non-prescription eyeglasses are readily
available in the market. These can be an accessible and quick solution for
individuals with mild vision issues, impacting the demand for contact lenses.
Saudi Arabia Contact
Lens Market is segmented based on Material Type, Design, Wear Type, Application, Distribution Channel, and
by region.
Based on the Design, Saudi
Arabia Contact Lens Market is segmented into Spherical, Toric, Multifocal,
Others. Multifocal contact lenses are specialized lenses designed to address presbyopia,
a common age-related condition where the eyes gradually lose their ability to
focus on objects at close distances. These lenses incorporate multiple
prescriptions into one lens, allowing wearers to see clearly at different
distances—typically near, intermediate, and far. Multifocal contact lenses aim
to provide a seamless transition between various focal points, offering a more
convenient alternative to using separate pairs of glasses for different
activities. The primary purpose of multifocal contact lenses is to correct
presbyopia. Presbyopia affects individuals typically in their 40s and beyond,
causing difficulty in focusing on close-up tasks like reading or using a
smartphone.
In 2023, the Saudi Arabia Contact Lens Market largest share was held by Optical Stores segment in the forecast period and is predicted to continue expanding over the coming years. Optical stores typically have qualified eye care professionals who can provide expert consultations and eye examinations. Consumers often prefer getting their prescriptions and recommendations for contact lenses from these professionals, ensuring that their vision needs are accurately assessed. Optical stores often offer a diverse range of contact lens brands, types, and designs. This variety allows consumers to choose lenses that suit their specific needs, whether it's daily disposable lenses, coloured lenses, or those designed for specific vision issues like astigmatism. Optical stores are perceived as trustworthy sources for vision-related products and services. Consumers may feel more confident purchasing contact lenses from established optical stores that are known for providing quality products and reliable advice. Optical stores are typically easily accessible in urban and suburban areas, making it convenient for consumers to visit and purchase contact lenses. This accessibility can contribute to the high market share of the Optical Stores segment. Optical stores often provide fitting services to ensure that contact lenses are suitable and comfortable for individual wearers. This personalized service can enhance the overall customer experience and satisfaction.
Some of the major companies operating in
the Saudi
Arabia Contact Lens Market include:
- Al-Jamil
Optical Co.
- Cooper
Vision, Inc.
- Essilor
Luxottica SA
- Alcon Inc.
- Johnson
& Johnson
- Monros
International for General Trading & Contracting Co. (Anasthesia)
- Golden
Cala
- Bausch
Health Companies, Inc.
- Carl Zeiss
AG
- Bella
Contact Lenses
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“The contact lens market in Saudi Arabia is experiencing steady growth, driven by several factors. Increased awareness of eye health and vision correction methods among the population is a primary driver. Moreover, the growing adoption of contact lenses for cosmetic purposes, especially among the younger demographic, contributes to market expansion. Technological advancements, such as the development of silicone hydrogel lenses offering enhanced comfort and breathability, are also fueling market growth. However, challenges such as limited access to eye care services in remote areas and cultural barriers towards wearing contact lenses pose hurdles.,"
said Mr. Karan Chechi, Research Director of 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, Disposable), By Application (Cosmetics, Corrective, Therapeutic,
Others), By Distribution Channel (Optical Stores, Beauty Centers, Online
(Hospital & Clinics, Pharmacies, Stand Alone Pharmacies), By Region, By Competition Forecast & Opportunities, 2019-2029F 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 innovative
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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