The contact lens market - Italy

The global contact lens market, valued at about $8.71 billion in 2020, has experienced significant growth, with a 19.0% increase between 2017 and 2022, and projected to grow at a CAGR of 4.3% through 2027, reaching approximately $10.75 billion. Despite this, contact lenses represent a small fraction, nearly 7 percent, of the overall optical market dominated by eyeglasses and sunglasses.

In Italy, despite low usage at only 6 percent of those with vision problems in 2020, production has seen a dramatic increase, with the quantity of contact lenses produced rising to 10 million units in 2021. Italy imports notably more contact lenses than it exports, with imports at 153 million euros and exports at 46 million euros in 2021. The COVID-19 pandemic led to a temporary market decline, with contact lens usage dropping to 10 percent among vision problem individuals in 2020, primarily due to increased time spent at home. Despite this, the Italian myopia landscape is significant, with more than 30 percent of the population affected and contact lens wearers accounting for 10 percent of the visually impaired population. Overall, the market trends show increasing demand and potential for future growth in the contact lens industry both globally and within Italy.

Evolving Trends in the Italian Contact Lens Market

The Italian contact lens market has seen a dynamic shift in recent years, marked by an increasing demand for vision correction solutions driven by a growing prevalence of myopia and astigmatism among the population. Notably, reports from the International Myopia Institute indicate that nearly 30% of the global population is affected by myopia, with projections suggesting this number could soar to 50% by the year 2050. While the country's contact lens production surged by more than 950% between 2020 and 2021, it is also moving towards self-sufficiency as evidenced by the increasing coverage rate, though it still remains a net importer. In the contact lens segment, the most recognized brands cater to the various usage preferences, from daily disposable lenses like DAILIES AquaComfort Plus to monthly ones such as Biofinity.

However, the upheaval caused by the COVID-19 pandemic in 2020 led to a surprising turn; rather than experiencing a boom, the market saw a decline as lockdowns prompted consumers to revert to prescription glasses, despite the practicality contact lenses offered amidst face mask requirements. Examining trends among Italian consumers reveals that myopia is a common visual defect, affecting approximately 30% of the nation's population, with a particular impact on the 25-29 age demographic. About 4 million Italians use contact lenses, which equates to 10% of those with visual defects, with a significant proportion being individuals under the age of 30. Still, a substantial 88% have reported eye fatigue related to extensive digital device usage, which underscores the need for vision correction options that cater to modern lifestyle patterns. The industry has also been echoing sustainability concerns, with Italians' interest in green products and practices increasing by 3% as of 2021 compared to the previous year. In response, the market is witnessing the introduction of eco-friendlier contact lenses, with innovations like biodegradable lenses made from plant-based materials, and improvements in packaging to minimize environmental impact. From a distribution standpoint, opticians dominate the market, accounting for more than 80% of contact lens sales, while online trade has captured around 14.3% of market share.

Key Players Shaping the Contact Lens Industry Landscape

The contact lens industry is a highly concentrated market dominated by several established players that have made significant contributions to eye health and vision correction solutions. These companies have distinguished themselves through innovation, quality, and a comprehensive range of products suited to various consumer needs. Let's take a closer look at some of these major players.

• Bausch & Lomb A pioneer in eye health, Bausch & Lomb is one of the oldest companies in the industry. Known for its wide array of eye care products, including contact lenses, lens care products, and pharmaceuticals, Bausch & Lomb has been at the forefront of many industry advancements. They offer a diverse range of soft and rigid contact lenses catering to different visual needs and preferences.
• Ciba Vision Ciba Vision, now part of Alcon after a merger, has had a substantial impact on the contact lens market with its focus on eye care products and technologies. Their range of contact lenses includes daily, monthly, and color-enhancing options, providing consumers with both vision correction and aesthetic choices.
• Cooper Vision Cooper Vision is another major player that has carved out a niche in the contact lens market with its focus on addressing some of the most common vision challenges such as astigmatism and presbyopia. They offer a broad portfolio of products that includes soft, toric, and multifocal lenses and are committed to improving the way people see each day.
• Johnson & Johsnon Vision Johnson & Johnson Vision, which operates under the well-known ACUVUE® brand, has become synonymous with quality contact lenses. They provide an extensive range of eyewear options, including lenses for daily and long-term use, as well as for specialized conditions. Their product innovation includes lenses with UV protection and moisture-rich features for enhanced comfort.
• Menicon stands as one of the key players in the industry, focusing on producing high-quality contact lenses, including soft and rigid gas-permeable (RGP) lenses. With a reputation for creating lenses with advanced materials and designs, Menicon plays a crucial role in supplying consumers with durable and comfortable vision correction products.

These companies are not only leaders due to their wide range of products but also for their commitment to research and development. Their continuous pursuit of innovation ensures the production of contact lenses that offer improved comfort, better vision correction, and a higher quality of life for wearers worldwide.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 07/12/2021

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