CONTACT LENS MARKET ANALYSIS

One of the major challenges faced by the global contact lens market is the risk of eye infection associated with improper wear and maintenance of contact lenses. Contact lenses act as a medium for various microorganisms to reach the eyes easily. If lenses are not cleaned and disinfected properly using recommended solutions, it can cause severe infections like acute red eye, keratitis etc. Many people do not change their contact lens solution regularly as required. This increases the chances of eye infection manifolds. Educating the masses as well as practitioners about importance of hygiene and recommended practices is the need of the hour. Strict regulatory guidelines should be imposed by authoritative bodies to control infringement by local manufacturers. Market players need to aggressively promote awareness campaigns about risks, and benefits of periodical checkups by eye specialists if infection symptoms arise.

Market Opportunity - Untapped markets in developing countries

The global contact lens market has huge untapped potential in developing regions like Asia Pacific, Latin America, Middle East, and Africa. A significant proportion of population in these regions have refractory errors but lack awareness or means to address them. With rising income levels and growing focus on healthcare, demand for contact lenses is set to surge exponentially in the coming years. Market leaders need to devise customized distribution and affordability strategies to penetrate into rural and suburban areas. Local manufacturing through joint ventures can help address price barriers. Introducing monthly disposable lenses and multipacks would make lenses a financially viable option for lower income groups. Aggressive marketing tie-ups with eye hospitals and retail chains can accelerate penetration. Developing countries present a lucrative long term opportunity for sustainable growth of the global contact lens market.