Contact Lens Industry Analysis in GCC

GCC Contact Lens Industry Outlook from 2024 to 2034

The GCC contact lens industry size reached a valuation of US$ 227.1 million in 2023. Demand for contact lenses is anticipated to record a y-o-y growth of 6.2% in 2024.The industry is expected to reach US$ 241.1 million by 2024. Over the projection period 2024 to 2034.

Growth of the GCC contact lens industry is projected to remain high, and it is set to attain a valuation of about US$ 452.6 million by the end of 2034. The industry will likely expand at a CAGR of 6.5% in the estimated period.

The GCC contact lens industry displays a robust and evolving landscape driven by factors such as increasing awareness of eye health, lifestyle changes, and technological advancements. With an emphasis on vision correction and aesthetic appeal, the industry is expected to rise.

The industry is projected to witness notable participation from key players such as Johnson & Johnson, Alcon, and Bausch + Lomb. The growth is set to be supported by rising demand for eye care products like daily disposable lenses due to their convenience and hygiene benefits.

Specialized lenses catering to conditions such as astigmatism and presbyopia are further expected to contribute to the industry expansion. The region's growing urbanization, coupled with a desire for convenience and aesthetics, also propels the adoption of lenses among users.

Government initiatives promoting eye health and accessibility to vision correction aids further play a significant role in fostering growth. Additionally, advancements in material technology and the introduction of innovative designs are projected to augment the adoption of eye care products in the GCC.

Trends in Vision Correction Products in the Middle East

• Increasing investments by leading players in advanced contact lens technology to launch lenses with built-in sensors.
• Emergence of smart contact lenses to help evaluate intraocular pressure and glucose levels for the management of glaucoma and diabetes, respectively.
• The optical lens industry in Gulf countries is predicted to witness the introduction of daily disposable contact lenses that can prevent the chances of eye infections.
• Companies are projected to blend the properties of both rigid gas permeable and soft contact lenses to offer the clarity of rigid lenses and comfort of soft ones.
• Key players in the therapeutic contact lens industry are expected to launch specialty lenses that can cater to those living with presbyopia or astigmatism.

2019 to 2023 GCC Contact Lens Industry Analysis Compared to 2024 to 2034

The GCC contact lens industry experienced steady growth in the historical period from 2019 to 2023. The industry expanded at a CAGR of 4.7% during the same period. This was attributed to increased awareness of vision correction methods, technological advancements in lens materials, and a growing preference for alternatives to traditional vision correction products like eyeglasses.

There is a notable rise in the demand for disposable and silicone hydrogel lenses due to their comfort and convenience. However, the GCC contact lens industry report anticipates a significant surge in sales owing to a more widespread acceptance of contact lenses as a lifestyle choice and advancements in smart contact lens technology.

Innovations such as augmented reality (AR)-based lenses and continuous glucose monitoring lenses are poised to revolutionize the market. These products are set to cater to vision correction needs and help companies expand into new health monitoring applications.

Targeted marketing and improved accessibility are two crucial factors pushing contact lens sales across the GCC. The rising aging population opting for multifocal and presbyopia-correcting lenses is further anticipated to fuel the exponential growth in the GCC contact lens industry through 2034. The aforementioned factors are estimated to propel the industry to exhibit a 6.5% CAGR in the forecast period.

Sudip Saha

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Key Dynamics in the GCC Contact Lens Industry Research Report

• Growing Awareness of Eye Health and Vision Care

The GCC has witnessed a notable shift in consumer behavior, with more individuals opting for contact lenses as an alternative to traditional eyeglasses. Factors such as rising disposable income, evolving eyewear industry trends favoring a more aesthetic appeal, and the convenience of contact lenses have spurred their adoption across diverse demographics.

The GCC's warm climate, coupled with an active lifestyle, has further propelled the preference for contact lenses, as they offer great ease during outdoor activities and sports.

The growing understanding of the importance of regular eye check-ups is projected to drive the optical lens industry. Besides, the need for corrective measures for refractive errors or vision-related issues is also set to play a pivotal role in pushing the adoption of contact lenses in the region.

For instance, in 2021, the Qatari Ministry of Public Health introduced the Qatar National Eye Health Strategy. The strategy aims to reduce the prevalence of preventable vision impairment in Qatar by 25% by 2030. The strategy includes a high focus on promoting the use of contact lenses as a safe and effective vision correction option.

• Applications of Specialty Contact Lenses in Therapeutic and Cosmetic Segments

In the therapeutic realm, specialty lenses are increasingly prescribed for conditions such as keratoconus, irregular astigmatism, and post-surgical corneal irregularities. These are expected to offer improved visual acuity and comfort for patients.

The cosmetic use of specialty lenses for color enhancement or change has gained popularity, catering to consumers seeking personalized and aesthetically pleasing options. The convergence of advanced technologies, such as custom designs and materials, has further propelled the industry.

It has been providing practitioners and end-users with innovative solutions that address a diverse range of vision-related needs. The versatility and expanding applications of specialty contact lenses continue to fuel their adoption, driving positive momentum in the GCC therapeutic contact lens industry.

• Geographic Expansion into Untapped and Emerging Areas

Geographic expansion into untapped and emerging areas across the GCC presents an enticing opportunity for manufacturers and distributors. With a burgeoning population and increasing awareness of eye health & vision correction, the GCC eyewear industry offers substantial growth potential. Penetrating these untapped areas allows manufacturers and distributors to tap into a demographic that values convenience and lifestyle choices.

The region's inclination toward technological advancements, coupled with rising disposable income, underscores the appeal of innovative and comfortable contact lens solutions. Strategic entry and expansion efforts across these emerging areas are set to lead to the establishment of a brand presence.

It is further estimated to result in the development of consumer trust and capitalization on the evolving preferences of the region's consumers. The above-mentioned factors are expected to help in fostering long-term growth and leadership in the GCC contact lens industry.

Country-wise Insights

The section below highlights the CAGRs of the leading countries in the GCC ophthalmic equipment industry. The three main countries pushing contact lens demand include Bahrain, Kuwait, and the United Arab Emirates.

According to the analysis, Bahrain is set to lead the GCC contact lens industry by showcasing a CAGR of 12.2% in the forecast period. The country is anticipated to be followed by Kuwait and the United Arab Emirates, with CAGRs of 9.4% and 6.8%, respectively.

United Arab Emirates Witnesses High Demand for Trendy Eye Care Products

Several parameters contribute to driving the sales of contact lenses in the United Arab Emirates (UAE). The country is anticipated to witness a CAGR of 6.8% in the assessment period.

• The growing awareness and acceptance of contact lenses as a convenient vision correction method among consumers is set to fuel sales.
• Technological advancements in lens materials, such as silicone hydrogels, offering increased comfort and breathability, play a pivotal role. Lifestyle changes are also expected to propel sales in the country.
• The UAE contact lens industry is further expected to rise with the desire for enhanced aesthetics, especially among the younger demographic.
• The presence of a large expatriate population in the country, including professionals and students, is also set to boost the demand for contact lenses.
• Factors such as promotional activities, availability of a wide range of lens types, optometrist recommendations, and increasing disposable income contribute to the flourishing sales in the country.

Oman Shows Development of Highly Breathable Vision Correction Products

• An increasing awareness and preference for convenience, comfort, and aesthetic appeal among individuals with vision correction needs have fueled the demand for contact lenses over traditional eyeglasses in Oman.
• The development of more breathable, comfortable, and long-wearing contact lens materials, catering to several vision requirements such as astigmatism and presbyopia is projected to rise.
• Rising incidence of eye disorders, coupled with a growing aging population, have contributed to the expansion of Oman’s contact lens industry as more people seek corrective solutions.
• Concerted efforts by manufacturers and eye care professionals to educate consumers about the benefits of contact lenses will likely expand the industry.
• Several private and public agencies in the country are projected to create awareness in terms of lifestyle flexibility and improved vision quality, which is set to boost the adoption rates.
• The increasing presence of optical retail chains, improved access to eye care services, and expanding disposable income have also played a pivotal role in driving contact lens innovations in Oman.

Digital Eyestrain Issue in Qatar to Push Demand for Contact Lenses with Power

The growth of the contact lens industry in Qatar is propelled by several key factors shaping consumer preferences and market dynamics. They are:

• The influence of digital devices and prolonged screen time is projected to contribute to the high demand for contact lenses among individuals experiencing digital eyestrain.
• The presence of a robust healthcare infrastructure, coupled with rising disposable income, supports the accessibility and affordability of contact lenses, fostering the smart contact lens industry.
• The proactive efforts of eye care practitioners in educating and promoting the benefits of contact lenses in Qatar has played a crucial role in increasing access to eye care services.

Category-wise Insights

The below section shows the GCC contact lens industry analysis in terms of product type, design, and sale channel. The gas permeable segment is expected to lead the GCC contact lens industry based on product type. It is set to exhibit a CAGR of around 7.1% through 2034.

Based on the design type, the cosmetic segment is anticipated to showcase a dominant CAGR of 12.3% by 2034. By sales channel, the luxury boutique segment is expected to exhibit a CAGR of 9.2% from 2024 to 2034 in the GCC contact lens industry.

Market Growth Outlook by Product Type

Gas Permeable Contact Lenses to be Mainly Preferable by Users

In terms of product type, the gas permeable category is expected to register a significant CAGR of 7.1% during the forecast period. This growth is attributed to the following factors:

• Gas permeable contact lenses are often preferred by users in the GCC contact lens industry due to several inherent advantages they offer.
• The lenses allow for greater oxygen transmission to the cornea compared to traditional soft contact lenses.
• They help in promoting better ocular health by reducing the risk of hypoxia or lack of oxygen reaching the eye.
• The rigid nature enables enhanced durability and resistance to protein deposits, making them less prone to causing allergic reactions or irritation and allowing for longer wear time without compromising vision quality.
• Gas permeable monthly contact lenses are known for their ability to provide crisp, clear vision correction, especially for individuals with complex refractive errors or irregular corneas.
• Their customizability to address specific vision needs, along with their potential for slowing down myopia progression in certain cases, contributes to their preference among users seeking precise and reliable vision correction solutions in the GCC.

Cosmetic Color Contacts for Astigmatism to Gain Traction by 2034

Market Growth Outlook by Key Design Type

In terms of design type, the cosmetic segment is expected to exhibit a 12.3% CAGR through 2034 due to its strong consumer orientation. Other factors pushing their demand in the GCC contact lens industry include:

• Cosmetic contact lenses have gained prominence in the GCC as these offer individuals the opportunity to enhance or change their eye color, catering to the region's cultural emphasis on beauty and aesthetics.
• In a region where personal grooming and appearance hold significant cultural value, cosmetic contact lenses provide a non-permanent and easily accessible way to modify one's natural eye color.
• Advancements in lens technology have led to increased comfort and safety, addressing concerns about eye health.
• The availability of a wide range of colors and designs tailored to diverse preferences contributes to their popularity.
• The GCC's youthful demographic with a growing population inclined toward fashion & beauty trends fuels the demand for cosmetic lenses as a means of self-expression and style.

Luxury Boutiques to Witness High Demand for Night and Day Contacts

Market Growth Outlook by Key Sales Channel

In terms of sales channels, luxury boutiques are significant in the GCC contact lens industry. The segment is expected to showcase a CAGR of 9.2% from 2024 to 2034. A handful of factors augmenting the segment’s growth are:

• The prominence of luxury boutiques as a sales channel for contact lenses in the GCC is attributed to the region's emphasis on personalized shopping experiences and exclusive offerings.
• Luxury boutiques cater to discerning consumers seeking not just functional products but also premium experiences.
• Contact lenses, often considered a part of the fashion accessory landscape, are positioned as luxury items in these boutiques, aligning with the GCC's culture of opulence and luxury.
• The boutique environment allows for personalized consultations, ensuring customers receive tailored advice on lens types, colors, and styles, thereby fostering a sense of exclusivity and sophistication.
• Luxury boutiques often curate high-end and specialized contact lens brands, offering unique collections that cater to the luxury-driven preferences of the affluent population in the GCC.

Competitive Landscape

The GCC contact lens industry presents a competitive landscape characterized by a mix of established international players and regional eyewear brands. They are striving to cater to diverse consumer preferences and eye care needs in the region.

Leading global companies such as Johnson & Johnson Vision Care, Contamac, and Bausch + Lomb dominate the region due to their extensive product portfolios, technological advancements, and strong distribution networks. Regional players such as Yateem Opticians, Al-Manara Optical, and Muscat Optical have a significant presence, leveraging their local market understanding, customer service, and strategic partnerships.

The competitive landscape of the optical lens industry in Gulf countries is characterized by continuous innovation in lens materials, comfort, and designs. It also witnesses new marketing strategies and a growing emphasis on online sales channels to reach a wide consumer base across the GCC countries.

For instance,

• In October 2023, XPANCEO, a start-up based in the United Arab Emirates, raised around US$ 40 million in Seed from Opportunity Ventures. The start-up aims to launch contact lenses integrated with novel vision features of augmented reality (AR).
• In June 2023, Banuba, a Dubai-based computer vision firm, released an improved contact lens try-on. People's experience shopping for contacts will be completely transformed by this new technology, which allows users to try on several lenses-something that is currently not allowed due to hygiene concerns.

Scope of the GCC Contact Lens Industry Research Report

GCC Contact Lenses Industry Outlook by Category

By Product Type:

• Soft Lenses
• Gas Permeable
• Specialized

By Design Type:

• Spherical
• Toric
• Multifocal
• Cosmetic

By Usage:

• Daily Disposable
• Disposable/ Frequent Replacement
• Traditional (Reusable)

By Material:

• Soft Lens Material
• Rigid Gas Permeable (RGP)
• Hybrid Contact Lenses
• PMMA

By Sales Channel:

• Optical Retail Stores
• Luxury Boutiques
• Optical Chains
• E-commerce and Online Retailers
• Department Stores
• Other Channels