Contact lenses and solutions will see the best growth in eyewear in 2021 and will see a full recovery from the declines experienced in 2020. Young Ukrainians are particularly prone to choosing contact lenses over spectacles as the former are convenience and less obtrusive, whilst the latter are seen as bulky and unstylish.
In 2020 contact lenses and solutions witnessed a more pronounced shift to consumer purchasing via e-commerce. As contact lenses do not need to be tried on before buying it like spectacles or sunglasses, Ukrainian consumers are increasingly finding this an attractive channel.
In the Ukraine, contact lenses and solutions is highly concentrated, with the top three players, Alcon Pharmaceuticals Ltd, Bausch & Lomb Inc, and CooperVision Inc, accounting for around three quarters of total retail value sales in 2020. The companies benefit from their pioneering entry into Ukraine, their wide assortments of such products, and regular updates with innovations.
In the early forecast period, whilst the current value growth of contact lenses and solutions is expected to remain positive, it will be hampered by the unfavourable economic situation from COVID-19 and the low consumer confidence. Better growth prospects will appear in the latter end of the forecast period, when COVID-19 is less of a threat and the economic situation improves.
In the coming years, conventional contact lenses will continue losing appeal as Ukrainians increasingly turn to daily disposable lenses (DD) and frequent replacement lenses (FRP) instead. These categories will attract consumers due to their strong functionality and continued developments in technology, which will lead to improved vision and comfort during use.
Multinational brands will continue enhancing their position in the future by providing consumers with good experiences through intensive new product development. The top three players are likely to together remain dominant in the category throughout the forecast period.
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Understand the latest market trends and future growth opportunities for the Contact Lenses industry in Ukraine 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 Ukraine, 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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