Contact lenses and solutions is set to rebound rapidly in 2021 and will reach pre-COVID-19-pandemic current value sales by the end of 2021, with unit prices also increasing in current value terms. Hygiene considerations, which might have influenced consumer’s decision to abstain from the use of contact lenses in favour of spectacles in the first spike of the lockdown, subsided in 2021.
Contact lenses and solutions, unlike spectacles, has highly concentrated value shares, with Johnson & Johnson dominating in 2020. Its leading brands, Acuvue Oasys and 1-Day Acuvue are helping Johnson & Johnson to maintain its strength both in daily disposable and frequent replacement lenses.
The COVID-19 pandemic accelerated the shift towards e-commerce. Optical shops remains the major channel for contact lenses but recorded a sharp loss in value share in 2020 in contrast to the dynamism of e-commerce retailers.
In the forecast period, contact lenses and solutions is expected to see steady current value growth, with growth accelerating slightly towards the end of the forecast period. Daly disposable lenses will continue to drive growth, boosted by demand for convenience and increased hygiene awareness.
Depending on age, Russian consumers will vary in their response to new product launches in the forecast period. In an ageing Russian society, well-established brands will continue to be supported by elderly customers, who are typically conservative in their choices and reluctant to try new products.
International producers are set to be the best positioned to adapt to the evolving retail landscape for contact lenses and solutions, and eyewear in general, during the forecast period. Commercial success will depend on the effective development of omnichannel strategies, where both the advantages of in-store service and competitive prices can be offered.
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Understand the latest market trends and future growth opportunities for the Contact Lenses industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Contact Lenses industry in Russia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Contact Lenses research and analysis database.
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