Product Code: ETC049939 | Publication Date: Jul 2023 | Updated Date: Feb 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Saudi Arabia optical lenses market is expected to grow at a CAGR of 7.7% during the forecast period 2020-2026. The factors such as increasing prevalence of eye disorders, growing geriatric population, and technological advancements in lens materials are driving the growth of the market. Moreover, rising disposable income along with rapid urbanization and changing lifestyle trends has had a positive effect on the demand for corrective eyeglasses among the consumers resulting in increased spending by them on vision care products.
Uncorrected refractive errors are estimated to be responsible for 43% cases of moderate visual impairments worldwide according to WHOs Vision 2020 report. This indicates that there is an enormous unmet need for vision correction services which will create significant opportunities for companies operating in this segment over the coming years leading to increased sales of optical lenses across Saudi Arabia. Around 8 million people or 15% of total population were aged above 60 years in 2019 which is likely to nearly double till 2050 due its high fertility rates and relatively low death rate compared with other countries in GCC region which will lead to increase demand for ophthalmic products including lenses from elderly customers who suffer from age related sight deterioration issues like macular degeneration and presbyopia posing as potential opportunity for vendors dealing with these products.
Sophisticated lenses such as progressive addition (PAL) , bifocal or trifocal require complex manufacturing processes thus making them expensive compared traditional single vision prescription glasses .Therefore cost conscious customers may not be willing pay extra money required these advanced types leading slow adoption rates thereby hampering growth prospects overall market during study period.
COVID-19 has significantly impacted the optical lens industry in Saudi Arabia due to nationwide lockdowns that led to reduced demand from retail outlets and hospitals as well as disruption in supply chains. However, with easing of lockdown restrictions, this sector is expected to recover gradually over next few quarters.
Some of leading players operating in Saudi Arabia optical lens market include Essilor International S/A., Hoya Corporation, Carl Zeiss AG., Nikon Corporation (Thailand) Ltd., Rodenstock GmbH & Co KG., Seiko Optical Products Co., Ltd,, ZEISS Group Ltd and others. These companies are focusing on launching innovative products with improved features that could help them gain a competitive edge over their rivals.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Saudi Arabia Optical Lenses Market Overview |
3.1 Saudi Arabia Country Macro Economic Indicators |
3.2 Saudi Arabia Optical Lenses Market Revenues & Volume, 2020 & 2030F |
3.3 Saudi Arabia Optical Lenses Market - Industry Life Cycle |
3.4 Saudi Arabia Optical Lenses Market - Porter's Five Forces |
3.5 Saudi Arabia Optical Lenses Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.6 Saudi Arabia Optical Lenses Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.7 Saudi Arabia Optical Lenses Market Revenues & Volume Share, By Vertical, 2020 & 2030F |
4 Saudi Arabia Optical Lenses Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Saudi Arabia Optical Lenses Market Trends |
6 Saudi Arabia Optical Lenses Market, By Types |
6.1 Saudi Arabia Optical Lenses Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Saudi Arabia Optical Lenses Market Revenues & Volume, By Type, 2020-2030F |
6.1.3 Saudi Arabia Optical Lenses Market Revenues & Volume, By Converging, 2020-2030F |
6.1.4 Saudi Arabia Optical Lenses Market Revenues & Volume, By Diverging, 2020-2030F |
6.2 Saudi Arabia Optical Lenses Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Saudi Arabia Optical Lenses Market Revenues & Volume, By Microscopy, 2020-2030F |
6.2.3 Saudi Arabia Optical Lenses Market Revenues & Volume, By Laser Processing, 2020-2030F |
6.2.4 Saudi Arabia Optical Lenses Market Revenues & Volume, By Imaging, 2020-2030F |
6.2.5 Saudi Arabia Optical Lenses Market Revenues & Volume, By Ophthalmic, 2020-2030F |
6.3 Saudi Arabia Optical Lenses Market, By Vertical |
6.3.1 Overview and Analysis |
6.3.2 Saudi Arabia Optical Lenses Market Revenues & Volume, By Healthcare, 2020-2030F |
6.3.3 Saudi Arabia Optical Lenses Market Revenues & Volume, By Life Sciences, 2020-2030F |
6.3.4 Saudi Arabia Optical Lenses Market Revenues & Volume, By Defense, 2020-2030F |
6.3.5 Saudi Arabia Optical Lenses Market Revenues & Volume, By Manufacturing, 2020-2030F |
6.3.6 Saudi Arabia Optical Lenses Market Revenues & Volume, By Consumer Electronics, 2020-2030F |
6.3.7 Saudi Arabia Optical Lenses Market Revenues & Volume, By Others, 2020-2030F |
7 Saudi Arabia Optical Lenses Market Import-Export Trade Statistics |
7.1 Saudi Arabia Optical Lenses Market Export to Major Countries |
7.2 Saudi Arabia Optical Lenses Market Imports from Major Countries |
8 Saudi Arabia Optical Lenses Market Key Performance Indicators |
9 Saudi Arabia Optical Lenses Market - Opportunity Assessment |
9.1 Saudi Arabia Optical Lenses Market Opportunity Assessment, By Type, 2020 & 2030F |
9.2 Saudi Arabia Optical Lenses Market Opportunity Assessment, By Application, 2020 & 2030F |
9.3 Saudi Arabia Optical Lenses Market Opportunity Assessment, By Vertical, 2020 & 2030F |
10 Saudi Arabia Optical Lenses Market - Competitive Landscape |
10.1 Saudi Arabia Optical Lenses Market Revenue Share, By Companies, 2023 |
10.2 Saudi Arabia Optical Lenses Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |