India Contact Lenses Market to Grow with a CAGR of 4.73% through 2028
Increasing myopic patients,
rising geriatric population and change in lifestyle are driving the growth of India
contact lenses market through 2028.
According to TechSci Research
report, “India Contact Lenses
Market By Material Type
(Silicone Hydrogel, Hydrogel, Others), By Design (Spherical, Toric, Multifocal,
Others), By Application (Corrective, Cosmetic, Others), By Wear Type (Monthly
Disposable, Daily Disposable, Yearly Disposable), By Distribution Channel
(Retail Stores, Online, Hospitals & Clinics), By Region, Competition,
Forecast & Opportunities, 2028”, the India contact lenses
market stood at USD574.26 Million in 2022 and is anticipated to grow with a
CAGR of 4.73% in the forecast period. The major factors driving the growth of contact lenses market include an increase
in cases of Myopia, changing lifestyle, technological advancement, increase in
geriatric population.
Because refractive
errors are on the rise these days, the leading cause of corneal edema,
glaucoma, and other eye diseases increases the demand for eye care products such as
contact lenses. Additionally, increasing
urbanization across the country especially in the tier-1 and tier-2 cities has
significantly increased the demand for contact lenses. Besides, the widespread
influence of social media and the fashion & entertainment industry,
especially on the youth, is further expected to drive market growth. Nowadays,
the youth is under the major influence of social media, and the fashion &
entertainment industry follow the influencers or celebrities wearing different
contact lenses and then tries to follow the same. However, the availability of
surgical options and the increasing number of people opting for eye surgeries
can slow down the market growth in the coming years. Also, the penetration in
rural parts of the country is quite less for contact lenses, thereby
restricting the market growth.
Browse over 26 market
data Figures spread through 70 Pages and an in-depth TOC on "India
Contact Lenses Market"
https://www.techsciresearch.com/report/india-contact-lenses-market/4205.html
The
India contact lenses market is segmented by material type, design type,
application, wear type, distribution channel, region, and company.
Based
on material type, the market is segmented into silicon hydrogel, hydrogel, and
others. In 2022, silicon hydrogel will have the largest market share,
accounting for 50.31% of the contact lenses market. Silicon hydrogel is
utilized to manufacture soft contact lenses because it improves oxygen
permeability with water to the cornea, resulting in improved eye comfort,
followed by hydrogel material, also used as a contact lens material. However,
compared to silicon hydrogel, they are less permeable to oxygen and cause
dryness due to water loss.
Based
on application, the market is segmented into corrective, cosmetic, and others.
With a market share of 60.22% in 2022, the corrective contact lens dominates the
India contact lens market. People utilize contact lenses more for corrective
purposes as the number of refractive error cases rises, as does the demand for
ophthalmic solutions to cure vision impairment problems. Cosmetic contact
lenses are mainly used to change the look (color) of the eyes and are not
intended to correct vision.
Based
on regional analysis, South India accounted for the largest market share of 31.44%
in the India contact lenses market due to increased urban population in Kerala,
Tamil Nadu, Telangana, etc. The growing number of urban populations will create
more demand for contact lenses as it increases the screen-driven society.
The
leading companies operating in the India Contact Lenses market are:
·
Bausch & Lomb India
Private Limited
·
Alcon Laboratories (India)
Pvt. Ltd.
·
Johnson & Johnson
Private Limited
·
CVI Contact Lenses India
Pvt. Ltd.
·
Carl Zeiss India
·
Hoya Medical India Pvt. Ltd
·
Essilor India Private Ltd.
·
Contek India
·
Excellent Hicare Pvt Ltd
·
Omni Lens Pvt Ltd
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“India contact lenses market will
see a robust growth during the forecast period. This rapid growth is
anticipated by rapidly growing e-commerce and due to the customer’s demand for
online shopping, as well as convenient access to contact lenses in less time
and at a better price through e-commerce.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Contact Lenses Market By Material Type (Silicone Hydrogel,
Hydrogel, Others), By Design (Spherical, Toric, Multifocal, Others), By
Application (Corrective, Cosmetic, Others), By Wear Type (Monthly Disposable,
Daily Disposable, Yearly Disposable), By Distribution Channel (Retail Stores,
Online, Hospitals & Clinics), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future
growth potential of India 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 make
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India contact lens market.
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