Contact Lenses and Solutions in Sweden

PROSPECTS

Daily disposable lenses outperform frequent replacement lenses

Daily disposable (DD) lenses is continuously outperforming frequent replacement (FRP) lenses. Its higher value growth is due to its easier usage and sanitary aspects, which have prompted opticians to endorse DD lenses over other products.

Increases in population with myopia will lead to sales growth

It is estimated that 50% of the global population will have a myopia problem by 2030; the current percentage in Sweden is about 36%. Increasing indoor activities and usage of digital equipment that negatively impact the performance of the eyes will lead the younger population in particular to develop myopia at an earlier age.

More active ageing population

One other factor that is affecting the growth of eyewear is the ageing population, combined with increased health for senior people. This is beneficial to contact lenses as they are in general better for engaging in physical activity.

COMPETITIVE LANDSCAPE

Competition in contact lenses and its impact on category power

CooperVision enjoys the highest value share in contact lenses, with high penetration in both DD and FRP lenses. Meanwhile, competitors such as Bausch & Lomb and Novartis each have sales focus in one of the categories.

How internet retailing and subscription strategies affect the unit price

Internet retailing and increased competition now that opticians can directly sell contact lenses will put pressure on the unit prices as more promotions will be prevalent in the marketplace to attract customers. Internet sales of contact lenses remain high and they are not expected to decline due to this change; however, as the playing field levels increased competition between optician shops and pharmacies will ensue.

The effects of contact lenses deregulation on channels

At the start of 2018, the Swedish health and social care inspectorate decided to level out competition by allowing opticians to sell lenses without prescription as the pharmacies have long been able to do. The effect on growth rates in value terms is rather small as it does not really affect availability; consumers can still just get their lenses off the internet without a prescription requirement.

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