Market Reports on Saudi Arabia Provides the Trending Market Research Report on “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” under Healthcare Services Market Research Report category. The Saudi Arabia Contact Lens Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Contact Lens Market was valued USD280.23 million in 2020 and is projected to reach USD379.94 million by 2026, growing at a CAGR of 5.5% through 2026. The increasing geriatric population across the country is suffering from various ocular problems, ocular diseases and growing incidences of eye injuries, is expected to increase the demand for different contact lenses significantly. The commonly observed ocular diseases in the elderly population includes cataract, myopia, hyperopia, astigmatism, among others. This in turn is expected to increase the demand for contact lenses in Saudi Arabia through 2026. Surge in occurrence of myopia and other ocular disorders is boosting the demand for contact lenses. There are also lenses available designed to meet specific needs and are called specialty lenses. For example, scleral lenses which have large diameters are used in the treatment of corneal irregularities. Also, the technological advancement and consistent research over the better technologies of the contact lens is also supporting the growth of the market. Market players are heavily invested in bringing the best possible services and devices that aid the eyecare health for the patients in the country and aiding the growth of the market until 2026.
The Saudi Arabia contact lens market is segmented by material type, design, wear type, application, distribution channel, competitional landscape, and regional distribution. Based on material type, the Saudi Arabia contact lenses market can be categorized into silicone hydrogel, hydrogel, gas permeable and others. The silicone hydrogel segment is expected to dominate the market during the forecast period on account of its widespread use in making soft contact lenses. Silicone hydrogel is a flexible, soft plastic which provides easy adaptability to eye along with higher comfort. Additionally, they allow large amount of oxygen to pass through thereby increasing comfort by reducing dryness and itching in the eyes. Also, silicone hydrogel is quite effective in the treatment of ametropia.
In terms of wear type, the Saudi Arabia contact lenses market can be split into reusable and disposable. The reusable segment dominated the market in 2020 while the disposable segment is expected to witness significant growth during the forecast period on account of the shift in consumer demand from conventional reusable contact lenses to disposable contact lenses. Additionally, the spread of COVID-19 and fear of catching infection through contact lenses among the population has further increased the demand for disposable contact lenses. Besides, various companies operating in the market have started launching monthly, daily and weekly disposable contact lenses, thereby supporting the segmental growth.
The major companies operating in Saudi Arabia contact lens market include Al-Jamil Optical Co., CooperVision, 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, among others. 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 have an edge over other players in the market.
Years considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F – 2026F
Objective of the Study:
•To analyze the historical growth in the market size of Saudi Arabia contact lens market from 2016 to 2020.
•To estimate and forecast the market size of Saudi Arabia contact lens market from 2021 to 2026 and growth rate until 2026.
•To classify and forecast Saudi Arabia contact lens market based on material type, design, wear type, application, distribution channel, competitional landscape, and regional distribution.
•To identify dominant region or segment in the Saudi Arabia contact lens market.
•To identify drivers and challenges for Saudi Arabia contact lens market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia contact lens market.
•To identify and analyze the profile of leading players operating in Saudi Arabia contact lens market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia contact lens market.
Our Research performed both primary as well as exhaustive secondary research for this study. Initially, Our Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, Our Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Our Research could include the manufactures which could not be identified due to the limitations of secondary research. Our Research analyzed the manufactures, distribution channels and presence of all major players across the country.
Our Research calculated the market size of Saudi Arabia contact lens market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Our Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
•Contact lens manufacturers, end users, and other stakeholders
•Distributors and suppliers of the products and other stakeholders
•Organizations, forums, and alliances related to contact lens
•Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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