The size of the Contact Lenses Market in the Middle East and Africa is projected to be USD 1.26 billion by 2027 from USD 1.02 billion in 2022, growing at a CAGR of 4.30% during the forecast period.
Contact lenses are also designed to treat visual disorders such as myopia, astigmatism, glaucoma, and presbyopia. In the Middle East and Africa, the focus on developing new devices in the medical sector is growing at an impressive rate.
Growing awareness over the use of contact lenses and their benefits, increasing incidences of visual impairment, an increasing number of people with cataracts are rising across the region, which are the significant causes driving the contact lenses market growth in the Middle East and Africa. Escalating expenditure on healthcare, along with growing disposable income in both developed and developing countries and trends towards contact lenses rather than prescribed eyeglasses, are further fuelling the MEA contact lenses market growth. Additionally, increasing support from the government by introducing reimbursement schemes in favor of ordinary people and creating popularity through campaigns and digital advertisements are magnifying the market's growth rate in this region.
However, fluctuations in the production rate due to the rising manufacturing cost of lenses are slowly hampering the market demand in this region. The shortage of skilled labor in manufacturing accurate contact lenses is additionally restraining the growth rate of the contact lenses market in the Middle East and Africa. Growing prevalence of laser treatment procedures for a permanent solution is also degrading the demand of the market. Besides, less knowledge in manufacturing the latest designs remains a challenging factor for market growth.
This research report on the MEA contact lenses market has been segmented & sub-segmented into the following categories:
Regionally, the Saudi Arabian is expected to account for the most significant share in the MEA contact lenses market during the forecast period owing to an increase in adoption of the cosmetic lens and growth in disposable income. The South African contact lenses market has a fragile economic situation and is likely to play a crucial role in shaping the MEA contact lenses during the forecast period. The high collective cost and required maintenance for the contact lenses are to prevent the new users of these lenses, particularly those from the lower-income group, to hamper the growth of the contact lenses market during the forecast period. Only a limited portion of the population drives the demand for eyewear in South Africa.
KEY MARKET PLAYERS:
Companies playing a dominating role in the MEA Contact Lenses market profiled in this report are Johnson & Johnson, Bausch & Lomb, CooperVision, Hydrogel Vision Corp, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Carl Zeiss AG, CIBA Vision, Essilor International, and Contamac.
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