While 2021 is off to a promising start, it will still be a transition year for contact lenses and solutions as the industry adapts to the long-term fallout of the pandemic. Indeed, eye care practitioners will still be adjusting their operations to the pandemic via the use of social distancing measures, reduced operating hours and enhanced safety measures.
Overall, contact lenses will see some positive effects from the pandemic in 2021. Notably, contact lenses have a distinct advantage over traditional spectacles in a pandemic environment, whereas they do not fog when wearing a mask.
Brands are moving forward with innovation, focusing on specialized lenses that provide need-based solutions for patients with specific eye conditions. For example, in 2021, Johnson & Johnson Vision Care Canada launched Acuvue Oasys multifocal contact lenses with pupil optimized design, a new eye care option for patients with presbyopia.
Following the start of recovery in 2021, contact lenses and solutions is set to see even stronger volume growth in 2022 and 2023 before a softening in demand for the rest of the forecast period. Overall, contact lenses and solutions is set to return to pre-pandemic levels of current value sales by 2022 as the risk of COVID-19 eases with the immunization of the population.
In the forecast period, brands are likely to continue focusing their innovative efforts towards providing specialized lenses with need-based solutions for consumers with specific eye conditions. In this regard, myopia control presents a significant opportunity for development.
As more research is completed concerning the efficacy of multifocal lenses, there could be an opportunity to encourage older patients to adopt contact lenses in the forecast period. Indeed, the usage of contact lenses generally starts to drop for those aged 45 years and older, as the group prefers the comfort and ease of use of spectacles.
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Understand the latest market trends and future growth opportunities for the Contact Lenses industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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