Markntel Advisors has recently documented a thorough report on the GCC Contact Lens market, which covers the projection period of 2022-2027. The report offers detailed market dynamics, including all the possible factors and growth opportunities influencing the market.
Along with this, potential restraints and severe challenges are also discussed to the core, which holds the utmost probability to hamper the expansion of the market during the projected timeframe. Each and every crucial aspect is included in the report by our team of willful and skillful members who have worked tirelessly to do justice to the information published in the research paper.
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Market Driving Factor: Burgeoning Geriatric Population Across the Country to Escalate the Market Growth
The growing geriatric population across the GCC Country has increased the risks of individuals with underlying eye disorders, such as myopia, hypermetropia, diabetic macular edema, cataracts, and glaucoma, among various others. This has elevated the requirement for corrective contact lenses for the elderly population, thereby augmenting the sales of contact lenses in the Country.
Further, the governmental pension relief & retirement schemes, such as retirement in Dubai, etc., along with the low medical treatment costs & mandatory health insurance for elderly individuals & expatriates, have magnified the population in the Country. As a result, the demand for contact lenses has been propelled notably during the historical period.
Major Growth Challenge for Player: Growing Demand for Laser Treatment for Permanent Eyesight Correction to Hamper the Market
The growing demand for laser treatment for permanent eyesight correction in GCC countries such as the UAE, Saudi Arabia, etc., resulted in hindering the demand for contact lenses. In addition, factors such as the increasing availability of laser treatment in various eye care centers & the rising adoption of permanent eyesight correction treatment among consumers are likely to hamper the market growth.
Furthermore, the complications associated with the contact lenses, such as infection, corneal edema, superficial keratitis, red eye, and excess mucus production, among others, resulted in the adoption of laser treatments for permanent eye correction in the Country, hence hampering the market for contact lenses.
Segmenting of GCC Contact Lens Market
Segmenting the market into several smaller groups and further addressing it is one of the effective ways to determine the market and predict its growth in the near future. Therefore, our team of marketing analysts, along with professional researchers, also conducted an in-depth study to segregate the market into subcategories to offer its users a piece of holistic information about the GCC Contact Lens industry, which goes like this:
Market Segmentation, By Material Type
o Soft Contact Lenses
§ Silicone Hydrogel
§ Hydrogel
o Hard Contact Lenses
§ Rigid Gas-Permeable Lenses (RGP)
§ Polymethyl Methacrylate (PMMA)
o Hybrid Contact Lenses
Market Segmentation, By Design
o Spherical
o Toric
o Multifocal
o Others (Monovision, Color lenses, etc.)
Market Segmentation, By Usability
o Reusable
o Disposable
Market Segmentation, By Application
o Cosmetics
o Corrective
o Others (Prosthetic, Orthokeratology, etc.)
Market Segmentation, By Sales Channel
o Offline
§ Optical Stores
§ Hospital & Clinics
§ Others (Pharmacies, Beauty Centres, etc.)
o Online
§ Company-owned Portals
§ E-commerce Platforms
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Country Segmentation of the Market
While drafting a report, fragmenting the market into several different Country goes hand in hand with the other crucial aspects to ascertain the exact possible growth of the market. Geographically, the land is divided into multiple areas, and the Country where the industry has the potential to grow as a result are further mentioned in the report.
In addition, it becomes easier for the key market players, stakeholders, and relevant investors to analyze the Country that is accelerating rapidly during the forecasted period. Under the report, the areas are segmented into: -
· The UAE
· Saudi Arabia
· Bahrain
· Kuwait
· Oman
· Qatar
Competitive Analysis of the Market
The GCC Contact Lens market report conducted by Markntel Advisors is a product of robust research to examine and find out the potential business running and stimulating the growth of the industry. It further enables the stakeholders, key investors, and organizations to scrutinize the areas in which the dominating players are exponentially rising in terms of production, revenues, and so on.
Moreover, the study paper focuses on emphasizing the recent developments and contributions made by the market players to identify the areas that can be taken into account for the primary objective of benefitting during the projected period. For this reason, the study constitutes the three fundamental companies that are mentioned as: -
· Johnson & Johnson Middle East FZ-LLC
· Bausch + Lomb
· CooperVision
· Hydrogel Vision Corp.
· Abbott Medical Optics Inc.
· Alcon Laboratories Inc.
· Carl Zeiss Middle East & North Africa FZE
· CIBA Vision
· Essilor International
· Contamac
· Others
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The experts at Markntel Advisors provide potential clients with the option of customizing the report to suit their needs and interests. The team's key goals are to give the primary components the most consideration and to create the study with the intent of the stakeholders in mind.
The study report also covers factors that affect and surround the GCC Contact Lens industry, including the industry's profit-loss cycle, important and inconsequential acquisitions, outside influences, current trends, and so forth.
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