Egypt Contact Lenses Market by Modality, Design, Material Type, Application, Distribution Channel, Region, Competition, Forecast, and Opportunities, 2018-2028F

Report
77 Pages
July 2023
Region: Egypt
TechSci Research
ID: 5849442

The Egypt Contact Lenses market is expected to grow at a significant rate during the forecast period 2024-2028. A contact lens is required to correct refractive defects and make up for visual impairments such as myopia, hyperopia, presbyopia, and astigmatism. As a result, the market is anticipated to grow throughout the course of the forecast period due to an increase in graphic discrepancies. Contact lenses are tiny lenses designed to be applied to the surface of the eye to correct eyesight. Depending on the type, comfort, and reusability of the lenses, they are either hard or soft. The primary factors driving the market expansion during the forecast period are the rising acceptance of these devices in developing nations and the increase in the prevalence of refractive defects in Egypt.

The contact lenses appear to be worn in direct contact with the cornea, but they keep on floating on a layer of tears that separate them from the cornea. Contact lenses are basically prosthetic ocular devices that are not only used for cosmetic purposes but also used for corrective and therapeutic purposes. Contact lenses are the best choice for those people who are not willing to wear an eyeglass or undergo corrective eye surgery. The market's top players are also engaged in developing awareness campaigns and introducing cutting-edge products, which are expected to encourage the growth of daily disposables.

Furthermore, the material must be biocompatible, and the production facility must be carried out in a hygienic atmosphere. Manufacturers must go by a number of requirements issued by the IAMRA, FDA, and EU Commission while creating lenses. Manufacturers are required to include adequate information with the package, including the sterilization and disinfection procedures utilized. Manufacturers are receiving regulatory approval for the production of lenses made of fluoro silicon hydrogel, similar to PMMA and pHEMA. Moreover, the disadvantage of eye drops has been overcome by new technology and therapeutic advancements, such as the construction of drug-eluting lenses, which are contact lenses that carry medication to the eyes. For those who suffer from allergies and itchy eyes, the drug-eluting lens contains antihistamines. The use of this kind of lens avoids ocular, in turn driving the growth of contact lenses in Egypt.

Prevalence of Eye Diseases in Egypt is Driving the Growth of the Market.

The western desert oasis is unique in Egypt due to its geographic location outside of the ancient valley. Some infectious diseases are affected by the desert's hot, dry weather. The eye is undoubtedly impacted in a variety of ways by UV radiation. UV exposure is undoubtedly increased when working in the desert during the day, especially when doing so in agricultural areas. Pterygium, cataracts, and age-related macular degeneration are a few conditions that are directly linked to UV exposure. Dry Eye disease is a common condition that occurs when your tears aren't able to provide adequate lubrication for your eyes, brought on by excessive tear evaporation or insufficient tear production, damaging the ocular surface. It is accompanied by Ocular discomfort, itchiness, burning, lacrimation, blurred vision, and a presence of a foreign body in the eye. It interferes with everyday life activities and impacts visual function, especially reading, driving, and using a computer. It is also caused due to cataract (Phacoemulsification) surgeries for vision improvement which leads to the development of post-operative dry eye symptoms. Therefore, the incidence of post-Phacoemulsification surgery-induced dry eye disease in Egypt is driving the growth of the contact lens market in Egypt.

Rising Demand for Colored Contact Lenses as a Fashion Accessory

The usage of colored contact lenses has grown as more of a fashion accessory as a result of changing living habits, particularly among young people. Additionally, generation Z is increasingly adopting and using colored contact lenses due to their aesthetic qualities and characteristics as a result of social media's expanding influence. The colored contact lenses lighten and/or completely alter the color of the eyes, giving them a more youthful appearance. Additionally, the entertainment sector is seeing an increase in demand for fashionable contact lenses that enhance eye beauty and come in a variety of colors, tints, and textures. The market growth over the following few years is hence anticipated to be positively impacted by this. Furthermore, the growing disposable income of the population in Egypt has led to an increase in consumer expenditure on products like contact lenses. Along with increasing fashion and lifestyle explorations and the growing trend of adding bright, fun colors to the everyday routine, people are now highly attracted to exploring colored contact lenses. This factor is driving the growth of the contact lens market in Egypt.

Growing Research & Developments in Contact Lenses

The market for contact lenses is driven by the desire to do away with eyeglasses and switch to "Plano" sunglasses to improve aesthetic appearance. The use of contact lenses has grown as a result of ongoing technological advancements. Research & development activities, in terms of contact lenses, have been increased, which include the materials used to make contact lenses and their features & functionality, among others. The companies operating in the contact lens industry are increasing their R&D expenditure and activities to improve their existing product portfolio and to develop new products. Rising research and developments in contact lenses, along with drug-delivering capabilities, are anticipated to expected to drive the market over the forecast period. Increasing demand for daily disposable contact lenses is expected to create potential growth opportunities in the market for contact lenses. Further, rising eye-related problems such as ocular infections from viral, bacterial, or other microbiological agents affecting the conjunctiva, cornea, eyelids, etc., are the contributing factors leading to increased eye problems, thus, creating a huge demand for global contact lenses, boosting its Research and Development.

A shortage of Ophthalmologists is Anticipated to Hamper the Growth of the Egypt Contact lenses Market.

Since the elderly are more likely to have chronic eye conditions like glaucoma, dry eye disease, or retinal degeneration, not to mention cataracts, the most common surgical procedure performed in Egypt, population growth and aging continue to be the main factors driving an increase in demand for ophthalmologists in Egypt. Together with rising expectations from patients and their careers, novel treatments for previously incurable eye illnesses are further anticipated to increase the need for these professionals in the ophthalmology sector. Hence, the increasing elderly population with eye diseases and the shortage of Ophthalmologist is limiting the market expansion in Egypt.

Market Segmentation

Egypt Contact Lenses Market is segmented based on Modality, Design, material type, application, and distribution channel. Based on modality, the market is divided into Reusable and Disposable. Based on the design, the market is segmented into Spherical, Toric, Multifocal, and Others. Based on the material type, the market is divided into Silicone Hydrogel, Hydrogel, Gas Permeable, and Others. Based on application, the market is divided into Corrective, Therapeutic, Cosmetic, and Others. Based on distribution channels, the market is divided into Retail Stores, Online, and Hospitals & Clinics.

Market Players

The key players in the Egypt Contact Lenses Market are H. W. Contact lens, Tiba Lenses Co., MAGRABi, LENZY, Dencott

Report Scope

In this report, the Egypt Contact Lenses Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: