22 pages, Jul 2016
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Online sales of contact lenses enjoyed robust growth in 2016, driven by booming internet retailing and climbing acceptance of online purchasing among consumers in China. Moreover, unlike other eyewear products, contact lenses boasts high product standardisation. Consumers can easily make a purchase decision if they are clear about their degree of myopia and are familiar with the brand information. As such, online sales of contact lenses gradually eroded the retail value share of sales from bricks-and-mortar stores, representing 12% of the total in 2016, up from 4% in 2011.
Bausch & Lomb Inc took the lead in contact lenses, with a retail value share of 24% in 2015, up by two percentage points over 2014. The company took pole position in frequent replacement lenses (FRP) in 2015, whereas FRP dominated retail value sales of contact lenses in China. Through its competitive edge, Bausch & Lomb is able to prevail amid the fierce competition among international players which dominate contact lenses in China.
Contact lenses is expected to experience a steady retail value CAGR of 5% at constant 2016 prices over the forecast period, driven by steady replacement demand for such products. Growing disposable incomes and rising awareness of personal hygiene and wellbeing are projected to support the stable retail value growth of contact lenses in China, in addition to consumers’, in particular fashion-conscious young female consumers’, continuous pursuit of personal grooming, with the attempt to make their eyes look bigger and more beautiful by wearing cosmetic contact lenses.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Contact Lenses industry in China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Contact Lenses industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our contact lenses market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.