Increasing myopic patients, rising geriatric population and change in lifestyle are driving the growth of India contact lenses market through 2028.
According to TechSci Research report, “India Contact Lenses Market By Material Type (Silicone Hydrogel, Hydrogel, Others), By Design (Spherical, Toric, Multifocal, Others), By Application (Corrective, Cosmetic, Others), By Wear Type (Monthly Disposable, Daily Disposable, Yearly Disposable), By Distribution Channel (Retail Stores, Online, Hospitals & Clinics), By Region, Competition, Forecast & Opportunities, 2028”, the India contact lenses market stood at USD574.26 Million in 2022 and is anticipated to grow with a CAGR of 4.73% in the forecast period. The major factors driving the growth of contact lenses market include an increase in cases of Myopia, changing lifestyle, technological advancement, increase in geriatric population.
Because refractive errors are on the rise these days, the leading cause of corneal edema, glaucoma, and other eye diseases increases the demand for eye care products such as contact lenses. Additionally, increasing urbanization across the country especially in the tier-1 and tier-2 cities has significantly increased the demand for contact lenses. Besides, the widespread influence of social media and the fashion & entertainment industry, especially on the youth, is further expected to drive market growth. Nowadays, the youth is under the major influence of social media, and the fashion & entertainment industry follow the influencers or celebrities wearing different contact lenses and then tries to follow the same. However, the availability of surgical options and the increasing number of people opting for eye surgeries can slow down the market growth in the coming years. Also, the penetration in rural parts of the country is quite less for contact lenses, thereby restricting the market growth.
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The India contact lenses market is segmented by material type, design type, application, wear type, distribution channel, region, and company.
Based on material type, the market is segmented into silicon hydrogel, hydrogel, and others. In 2022, silicon hydrogel will have the largest market share, accounting for 50.31% of the contact lenses market. Silicon hydrogel is utilized to manufacture soft contact lenses because it improves oxygen permeability with water to the cornea, resulting in improved eye comfort, followed by hydrogel material, also used as a contact lens material. However, compared to silicon hydrogel, they are less permeable to oxygen and cause dryness due to water loss.
Based on application, the market is segmented into corrective, cosmetic, and others. With a market share of 60.22% in 2022, the corrective contact lens dominates the India contact lens market. People utilize contact lenses more for corrective purposes as the number of refractive error cases rises, as does the demand for ophthalmic solutions to cure vision impairment problems. Cosmetic contact lenses are mainly used to change the look (color) of the eyes and are not intended to correct vision.
Based on regional analysis, South India accounted for the largest market share of 31.44% in the India contact lenses market due to increased urban population in Kerala, Tamil Nadu, Telangana, etc. The growing number of urban populations will create more demand for contact lenses as it increases the screen-driven society.
The leading companies operating in the India Contact Lenses market are:
· Bausch & Lomb India Private Limited
· Alcon Laboratories (India) Pvt. Ltd.
· Johnson & Johnson Private Limited
· CVI Contact Lenses India Pvt. Ltd.
· Carl Zeiss India
· Hoya Medical India Pvt. Ltd
· Essilor India Private Ltd.
· Contek India
· Excellent Hicare Pvt Ltd
· Omni Lens Pvt Ltd
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“India contact lenses market will see a robust growth during the forecast period. This rapid growth is anticipated by rapidly growing e-commerce and due to the customer’s demand for online shopping, as well as convenient access to contact lenses in less time and at a better price through e-commerce.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Contact Lenses Market By Material Type (Silicone Hydrogel, Hydrogel, Others), By Design (Spherical, Toric, Multifocal, Others), By Application (Corrective, Cosmetic, Others), By Wear Type (Monthly Disposable, Daily Disposable, Yearly Disposable), By Distribution Channel (Retail Stores, Online, Hospitals & Clinics), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of India 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 make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India contact lens market.
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