Advancing eye care facility is driving the growth of Saudi Arabia Contact Lens Market, in the forecast period, 2022-2026.
Kingdom of Saudi Arabia is supporting and evolving the healthcare industry with advanced technology and extended research and the factor is driving the growth of the market. Moreover, rising geriatric population of the country along with the young population inclined toward prolonged screen exposure like smart phones, laptops, televisions etc. is further substantiating the growth of the market in the next five years. Additionally, the market growth is heavily dependent upon media influences ad recent trends of multicolor contact lenses that has application among the models, actors, entertainers, etc.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Saudi Arabia Contact Lens Market"
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The Saudi Arabia contact lens market is segmented by material type, design, wear type, application, distribution channel, competitional landscape, and regional distribution. Based on design, the market is sub-segmented into spherical, toric, multifocal, and others. Spherical designs of the contact lenses are anticipated to hold the largest revenue shares of the market and is expected to dominate the market segment on the account of higher adoption of these lenses by optometrists and patients to treat myopia and hypermetropia.
Multifocal contact lens is expected to register significant growth in the market share in the upcoming five years o the account of rapidly increasing demand for the multifocal contact lenses. Moreover, surge in the prevalence of cataract or development of clouding over the lenses is substantiating the growth of the market in the next five years. Supportive government initiatives to promote the healthcare industry is encouraging people to visit hospitals and get their vision checked thereby ensuring proper treatment.
Based on material type, the market is further bifurcated into silicone hydrogel, hydrogel, gas permeable, and others. Silicone hydrogel lenses offer various advantages like greater comfort, and more flexible over the gas permeable lenses thus, silicone hydrogel lenses are anticipated to hold the largest shares of the market and assert its dominance over the market in the upcoming five years. Although hybrid version that contains the property of silicone hydrogel as well as that of gas permeable lenses are anticipated to be the fastest growing market segment in the next five years due to added advantages of risk-free usage.
A partial list of market player in the Saudi Arabia contact lens market includes Bausch & Lomb Saudi Arabia, Johnson & Johnson Saudi Arabia, Alcon Saudi Arabia, AlJamil Optical (Amara Lenses), Monros International General Trading and Contracting Company W.L.L. (Anaethesia Lenses), LensMe Saudi Arabia, Versace Saudi Arabia, Carl Zeiss Saudi Arabia (Dehlawi Optical Industries and Zaid Al-Hussain Group Trading & Contracting Est.), CooperVision Saudi Arabia, EssilorLuxottica Group Saudi Arabia, among others. These market players hold larger shares of the market than the new market players.
With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Research and technological advancement for the best available product manufacturing is going to be golden rules for the growing and expanding contact lens market in Saudi Arabia. The consumers in need of healthcare facility for the best possible eyecare is further anticipated to drive the market growth. New market players are advised to study the market thoroughly. The product demand is ever evolving therefore they must invest in the advanced material for the contact lens that is aesthetically pleasing like multi-color lenses as well as advanced technology and satisfy the consumer demands,” said Mr. Karan Chechi, Research Director with 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 (Disposable v/s Reusable) By Application (Corrective, Therapeutic, Cosmetic, Others) By Distribution Channel (Retail Stores, Hospitals & Clinics, Online) By Region, Competition Forecast & Opportunities, 2026” 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 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 Saudi Arabia contact lens market.
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