Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "India Contact Lenses Market Analysis by Region: Competition, Forecast and Opportunities 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
India's Contact Lenses Market was valued at USD 240.03 million in 2024, and is anticipated to register impressive growth over the forecast period with a CAGR of 6.16% through 2030, reaching USD 341.35 million.
The market is being driven by several key factors. Increased awareness about eye health and vision correction options among the population is fostering demand. Advancements in technology have led to the development of more comfortable and efficient contact lenses, appealing to a wider demographic.
The rise in the prevalence of visual impairments, coupled with lifestyle changes such as the growing adoption of smartphones and computers, has fueled the need for corrective eyewear like contact lenses. A surge in disposable incomes and changing fashion trends have also contributed to the market's growth as individuals seek convenient and aesthetically pleasing vision correction solutions. These factors converge to create a robust and expanding market for contact lenses in India.
Regional Insights
The Western region emerges as a dominant region, spearheading market growth and innovation. Comprising states such as Maharashtra, Gujarat, Rajasthan, and Goa, the Western region stands out for its robust economic activity, urbanization, and access to healthcare infrastructure. Major metropolitan cities like Mumbai, Pune, and Ahmedabad serve as key hubs for eye care services, housing a dense network of eye clinics, optometry practices, and retail outlets specializing in vision correction solutions.
The Western region boasts a diverse consumer base, including young professionals, students, and fashion-conscious individuals, who are increasingly embracing contact lenses as a preferred choice for vision correction and style enhancement. The Western region's cosmopolitan culture, characterized by a blend of traditional values and modern trends, fosters a receptive environment for innovative products like colored and specialty contact lenses. This cultural dynamism, coupled with rising disposable incomes and lifestyle aspirations, propels demand for contact lenses in the Western region, driving market expansion and shaping industry trends.
The Western region's strategic location and connectivity facilitate seamless distribution and logistics, enabling contact lens manufacturers and suppliers to efficiently reach consumers across urban and semi-urban areas. While other regions also contribute significantly to the India Contact Lenses Market, the Western region's combination of economic vibrancy, cultural diversity, and infrastructural advantages position it as a dominant player driving the market's evolution and growth trajectory.
Key Market Drivers
- Increasing Awareness and Education
- Technological Advancements
- Prevalence of Visual Impairments
- Lifestyle Changes and Digitalization
- Rising Disposable Incomes
Key Market Challenges
- Limited Awareness and Access to Eye Care Services
- Price Sensitivity and Affordability Concerns
Key Market Trends
- Aging Population
- Expanding Distribution Channels
Report Scope
In this report, the India Contact Lenses Market has been segmented into the following categories, in addition to the industry trends which have also been detailed, below:
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:
- North
- South
- West
- East
Key Attributes
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $240.03 Million |
| Forecasted Market Value (USD) by 2030 | $341.35 Million |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | India |
A selection of companies mentioned in this report includes, but is not limited to:
- Bausch & Lomb India Private Ltd.
- Alcon Laboratories (India) Pvt. Ltd.
- Johnson & Johnson Private Limited
- CooperVision India
- Carl Zeiss India
- Hoya Medical India Pvt. Ltd.
- GKB Ophthalmics Ltd.
- Contek Solutions India
- Excellent Hicare Pvt. Ltd.
- Omni Lens Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/l0a0ug
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