Canada Contact Lenses Market is anticipated to witness impressive
growth during the forecast period. This can be ascribed to the increasing
prevalence of myopia along with growing preference for contact lenses over
prescription eyeglasses and the growing geriatric population across the region.
Similarly, rising number of outdoor exercises is expected to create a lucrative
growth of Canada Contact Lenses Market during the forecast period. Additionally,
rising prevalence of vision related ailments due to the increasing screen time
is anticipated to propel the growth of Canada Contact Lenses Market during the
forecast period. Also. growing demand for lower risk of eye infections, better
comfort, and convenience of disposal are expected to drive the growth of Canada
Contact Lenses Market during the forecast period. In 2020, the proportion of the population
that reported having good vision without correction was about 75% among youth
aged 12 to 19 years for both sexes in Canada. In 2022, an estimated 1.5 million
Canadians identify themselves as having a sight loss. An estimated 5.59 million
more have an eye disease that could cause sight loss.
Aging population
The aging population is a significant
factor driving the growth of the Canada Contact Lenses Market. As people age,
they become more likely to experience age-related vision problems, such as
presbyopia and cataracts, which may require vision correction. Contact lenses are a popular
option for people with these conditions, as they can provide more natural
vision correction than glasses and are often more convenient for active
lifestyles. Additionally, contact lenses can help address issues related to
glare and depth perception, which can be particularly problematic for older
adults. As the Canadian population
continues to age, the prevalence of age-related vision problems is expected to
increase. This, in turn, is expected to drive demand for contact lenses and
other vision correction options. Moreover,
the aging population is more likely to be interested in cosmetic contact
lenses. This demographic group may be more willing to try colored contact
lenses or other cosmetic options, driving demand for these products. Canada's population increased
by more than a million people for the first time in history in 2022, almost
entirely due to a surge in immigrants and temporary residents, Statistics
Canada
Technological advancements
Technological advancements have played a
significant role in driving the growth of the Canada Contact Lenses Market. The
development of new materials and manufacturing techniques has led to
significant improvements in the comfort, safety, and convenience of contact
lenses, making them more attractive to consumers. One of the key technological
advancements in recent years has been the development of silicone hydrogel
lenses. These lenses provide superior oxygen permeability, allowing for longer
wear times and reduced risk of corneal complications. This has led to increased
adoption of contact lenses among people who previously found them uncomfortable
or impractical.
Additionally, the availability of daily
disposable lenses has made contact lenses more accessible and convenient for
consumers. Daily disposables do not require cleaning or storage, reducing the
risk of eye infections and making them more appealing to people with active
lifestyles.
Advancements in
lens design and manufacturing have led to the development of custom-made
contact lenses that can be tailored to an individual's specific eye shape and
prescription. This has led to improved comfort and visual acuity for people
with complex prescriptions or irregular corneas.
Growing usage in Fashion and cosmetics
industry
Fashion and cosmetics have emerged as
significant drivers of growth in the Canada Contact Lenses Market. Contact
lenses can be used to enhance or change the appearance of the eyes, making them
an attractive option for people interested in fashion and cosmetics. Colored contact lenses are a
popular cosmetic option, allowing people to change the color of their eyes to
match their clothing or makeup. Additionally, contact lenses can be used to
create special effects or enhance the appearance of the eyes for theatrical or
performance purposes.
In recent years, there has been a
growing trend towards natural-looking makeup and more subtle enhancements.
Contact lenses can help to achieve this look by providing a more
natural-looking correction of vision while also enhancing the appearance of the
eyes. The availability of colored
and cosmetic contact lenses has expanded the market beyond traditional vision
correction, attracting new consumers who may not have considered contact lenses
before. This has led to increased demand for these products and the emergence
of new players in the market. In April 2022, Alcon launched Precision
launched a disposable contact lens for astigmatism in Canada. Which is a daily
disposable silicone hydrogel (SiHy) contact lens and is designed for astigmatic
patients.
Increased awareness of eye health
Increased awareness of eye health has
played a significant role in driving the growth of the Canada Contact Lenses
Market. As people become more aware of the importance of regular eye exams and
proper eye care, they are more likely to seek out vision correction options,
including contact lenses. Regular
eye exams can help to detect and address vision problems early, reducing the
risk of complications and improving overall eye health.
Contact lenses can be an effective
option for correcting vision problems, particularly for people with mild to
moderate refractive errors. Moreover,
increased awareness of eye health has led to a growing demand for contact
lenses that are safe, comfortable, and reliable. Consumers are more likely to
seek out high-quality products that are backed by scientific research and
comply with strict safety and quality standards. The growing focus on eye health has led
to increased demand for contact lenses with specialized features, such as UV
protection, blue light filtering, and moisture retention. These features can
help to protect the eyes from damage and improve overall eye health. Meanwhile, only 39 per cent
are familiar with age-related macular degeneration (AMD) which is the second
leading cause of blindness, affecting nearly 2 million Canadians.
Online sales channels
Online sales channels have emerged as a
significant driver of growth in the Canada Contact Lenses Market. The
convenience and accessibility of online shopping have made it easier for
consumers to purchase contact lenses from the comfort of their homes. Online sales channels offer a
wide variety of contact lenses, including specialty products that may not be
available at traditional brick-and-mortar stores. This has expanded the market
and created opportunities for market players to reach new consumers. Moreover, online sales
channels often offer competitive pricing, discounts, and promotions that can
make contact lenses more affordable for consumers.
This has made it easier for people to
purchase contact lenses regularly and to try new products. The availability of online
resources, such as product reviews, customer ratings, and expert advice, has
helped to increase consumer confidence in purchasing contact lenses online.
This has led to increased adoption of online sales channels among both new and
existing contact lens wearers. The
increasing popularity of online sales channels has led to the emergence of new
market players and the expansion of the market. Online sales channels offer
convenience and accessibility for consumers, making it easier for them to
purchase contact lenses regularly and to try new products.
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Recent Development
· Acuvue Oasys with Transitions: This contact lens
product from Johnson & Johnson was launched in Canada in 2019. It features
light-adaptive technology that automatically darkens and lightens in response
to changing light conditions, reducing glare and providing additional
protection against harmful UV rays.
· Bausch + Lomb ULTRA Multifocal for Astigmatism: This
product was launched in Canada in 2019 and is designed for people with
presbyopia and astigmatism. It features a unique lens design that provides
clear vision at all distances and is made with Bausch + Lomb's MoistureSeal
technology for all-day comfort.
· CooperVision MiSight 1 Day: This contact lens product
was launched in Canada in 2020 and is designed to slow the progression of
myopia (nearsightedness) in children. It features a unique lens design that
reduces the strain on the eye and helps to reduce the progression of myopia
over time.
Market
Segmentation
Canada Contact
Lenses Market can be segmented by material type, design type, wear type,
application, distribution channel, and region. Based on Material Type, Canada Contact
Lenses market can be segmented into Silicone hydrogel, Hydrogel,
Others. Based
on Design Type, Canada Contact Lenses market can be segmented into Spherical,
Toric, Multifocal, Others. Based on Wear Type, Canada Contact Lenses market can
be segmented into Monthly Disposable, Daily Disposable & Yearly Disposable.
Based on Application, Canada Contact Lenses market can be segmented into Corrective,
Cosmetic & Others. Based on Distribution Channel, Canada Contact Lenses market
can be segmented into Retail Stores, Hospitals & Clinics, online.
Market Players
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. are some of the leading players operating in the Canada
Contact Lenses Market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024
– 2028
|
|
Quantitative
Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
By Material Type
By Design Type
By Wear Type
By Application
By Distribution Channel
By Region
|
|
Regional
scope
|
Ontario
region; Quebec region; Alberta region; British Columbia region; Saskatchewan
and Manitoba region; Rest of Canada
|
|
Key
companies profiled
|
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
|
|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, the Canada Contact Lenses market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Canada Contact
Lenses Market, By Material Type:
o
Silicone hydrogel
o
Hydrogel
o
Others
- Canada Contact
Lenses Market, By Design Type:
o
Spherical
o
Toric
o
Multifocal
o
Others
- Canada Contact
Lenses Market, By Wear Type:
o
Monthly Disposable
o
Daily Disposable
o
Yearly Disposable
- Canada Contact
Lenses Market, By Application:
o
Corrective
o
Cosmetic
o
Others
- Canada Contact
Lenses Market, By Distribution Channel:
o
Retail Stores
o
Hospitals & Clinics
o
Online
- Canada Contact
Lenses Market, By Region:
o Ontario
region
o
Quebec region
o
Alberta region
o
British Columbia region
o
Saskatchewan and Manitoba region
o
Rest of Canada
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Canada Contact Lenses Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Canada Contact Lenses Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]