Saudi Arabia contact lens market
DUBLIN, April 24, 2024 (GLOBE NEWSWIRE) — “Saudi Arabia Contact Lenses Market Report (By Materials, Applications, Designs, Applications, Distribution Channels, Regions, Company Analysis 2024-2032)” report added . ResearchAndMarkets.com Recruitment.
The Saudi contact lenses market is poised for impressive growth, with an expected compound annual growth rate (CAGR) of 7.00% from 2024 to 2032. Currently valued at USD 115.79 million in 2023, the market is expected to grow almost twice as large as the US. This growth trajectory can be attributed to increased interest in eye health, changing lifestyle preferences, technological advancements, and rapidly increasing adoption of e-commerce.
The public health initiative and Vision 2030 have significantly contributed to increasing awareness of eye health in Saudi Arabia. Increased screen time and changes in social lifestyles have increased the need for efficient vision correction solutions adapted to modern life, such as contact lenses. Technological innovations are improving the comfort and functionality of contact lenses, which is driving consumer demand and market growth. Additionally, the proliferation of e-commerce platforms offers digitally-minded Saudi citizens a diverse portfolio of contact lens products, further stimulating market growth.
Trends in cosmetic applications
Cosmetic contact lenses are growing in popularity as consumers seek to complement their fashion choices and digital personas. Available in a wide variety of colors and designs, these lenses not only help correct your vision, but also serve as a tool to express your individuality. This demand is driving a notable segment of the market, where contact lenses are preferred for their ease of use and aesthetic benefits.
Regional market insights
The northern region of Saudi Arabia has become a fast-growing market for contact lenses due to urbanization and economic development. Increased consumer access to eye care professionals and products, combined with a population with increased disposable income, is driving market penetration in this area. A good understanding of the competitive environment is critical for new market participants to establish a foothold for success.
Key companies shaping the market
Alcon, Menicon Co. Ltd, Al-Jamil Optical Co., Yateem Opticians and Ray-Ban are the major players in the Saudi Arabian contact lenses market. Recent developments include the introduction of new monthly interchangeable lenses by Menicon Co., Ltd. and the release of TOTAL30 for astigmatism by Alcon. Partnerships and product innovation remain at the forefront of these companies’ strategies as consumer demand and markets grow.
Saudi Arabia Contact Lens Market Segmentation
The market is segmented into various categories by material, application, design, application, distribution channel, and region, providing detailed insights into consumer preferences and behavior. Gas-permeable, silicone hydrogel, and hybrid materials, as well as daily, single-use, frequently disposable, and conventional lenses are noted to meet a wide range of market needs. The diversified market structure promises continued evolution and progress in the coming years.
Key attributes:
|
report attributes |
detail |
|
number of pages |
120 |
|
Forecast period |
2023-2032 |
|
Estimated market value in 2023 (USD) |
$115.79 million |
|
Projected market value to 2032 (USD) |
$212.88 million |
|
compound annual growth rate |
7.0% |
|
Target area |
Saudi Arabia |
Featured companies
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archon
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Menicon Co., Ltd.
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Al Jamil Optical Company
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yateem eyeglass store
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ray ban
For more information on this report, please visit https://www.researchandmarkets.com/r/quyrxa.
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