Contact lens market size in India to grow by USD 205.21 million between 2021 and 2026; Bausch Health Companies Inc., Carl Zeiss AG, among others, identified as key vendors - Technavio

NEW YORK, April 12, 2023 /PRNewswire/ -- The "Contact Lens Market in India by Distribution Channel and Product - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The market is estimated to grow by USD 205.21 million from 2021 to 2026 at a CAGR of 7.75% during the forecast period. The market is segmented by product (frequent replacement lenses and daily disposable lenses) and distribution channel (online and offline). By product, the market will witness significant growth in the frequent replacement lenses segment during the forecast period. Similarly, by distribution channel, the offline distribution channel will account for the maximum revenue generation in the market. The report provides an accurate prediction of the contribution of all segments toward the growth of the contact lens market in India. For comprehensive details on the market size and forecast period (2022-2026) - View a sample report

Vendor Landscape

The contact lens market in India is fragmented, with the presence of several players. The vendors in the market are deploying various organic and inorganic growth strategies to gain a competitive edge. Established vendors are launching products to maintain their market share. They are expected to acquire or enter into partnerships with small vendors to expand their product portfolios to enter emerging markets and increase their market shares. The vendor landscape of the contact lens market in India entails successful business strategies deployed by the vendors. Some of the key vendors covered in the report include:

• Bausch Health Companies Inc. – Through the segment Bausch + Lomb/International, the company offers pharmaceutical products, OTC products, and medical devices for vision care, eye surgery, and other ophthalmic products. It offers contact lenses under the brand name iconnect.
• Carl Zeiss AG – The company offers devices under medical technology, microscopy, vision care, industrial metrology, semiconductor manufacturing technology, and others. It offers contact lenses under the brand name Lens Wipe.
• Dealskart Online Services Pvt. Ltd. – The company offers eyewear products such as spectacles and contact lenses. It offers contact lenses under the brand name Freshlook.
• Essilor International SAS – The company offers different types of solutions, including correcting vision, mobility, low vision, and others. It offers customized contact lenses for adults and children.
• HOYA Medical Singapore Pte. Ltd
• Johnson and Johnson Inc.
• Novartis AG
• Purecon Lenses Pvt. Ltd.
• The Cooper Companies Inc.
• Vision Express (UK) Ltd.

The report provides a full list of key vendors, their strategies, and the latest
developments. Buy Now

Market Driver

Major Drivers - The market is driven by factors such as the rise in the number of people with eye disorders, the rising popularity of contact lenses over spectacles, and the increasing focus on enhancing aesthetics.

The prevalence of eye disorders, such as refractive error, cataracts, and glaucoma, is increasing worldwide. Factors such as the increase in smoking and ultraviolet light exposure and the growing use of digital devices have increased the number of eye disorders. For instance, the percentage of the global population that require corrective lenses has increased from under 40% in 2010 to more than 63% as of 2021. In addition, the prevalence of chronic conditions such as diabetes has increased the risk of eye disorders. In 2021, more than 483 million adults aged above 20 years were affected by diabetes globally. All these factors have fostered the demand for contact lenses as well as the growth of the market.

Technavio has identified key drivers in the market, which will help clients improve their
strategies to stay ahead of their competitors. - View a Sample Report

Company Profiles

The report includes information on the product launches, sustainability, and prospects of leading vendors, including Bausch Health Companies Inc., Carl Zeiss AG, Dealskart Online Services Pvt. Ltd., Essilor International SAS, HOYA Medical Singapore Pte. Ltd, Johnson and Johnson Inc., Novartis AG, Purecon Lenses Pvt. Ltd., The Cooper Companies Inc., and Vision Express (UK) Ltd.

Get lifetime access to our Technavio Insights! Subscribe to our Basic Plan billed
annually at USD 5000

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Related Reports:

• The contact lens solutions market size is expected to increase by USD 398.57 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.18%. The market is segmented by distribution channel (retail stores and online stores) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
• The soft contact lens market size is expected to increase by USD 1.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.21%. The market is segmented by product (daily soft contact lens, weekly replacement lens, monthly replacement lens, and others), application (corrective lens, therapeutic lens, and cosmetic lens), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Browse through Technavio's Consumer Staples Market Reports

Table of contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Frequent replacement lenses - Market size and forecast 2021-2026
• Daily disposable lenses - Market size and forecast 2021-2026
• Market opportunity by Product

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Online - Market size and forecast 2021-2026
• Offline - Market size and forecast 2021-2026
• Market opportunity by Distribution channel

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Bausch Health Companies Inc.
• Carl Zeiss AG
• Dealskart Online Services Pvt. Ltd.
• Essilor International SAS
• HOYA Medical Singapore Pte. Ltd
• Johnson and Johnson Inc.
• Novartis AG
• Purecon Lenses Pvt. Ltd.
• The Cooper Companies Inc.
• Vision Express (UK) Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio