Contact Lenses in India

TRENDS

Contact lenses continued to register strong value growth in 2016, due to the rising popularity of these products among urban consumers. The increasing availability of contact lenses in the Indian market, due to growth in branded retail outlets and online retailing, also helped boost growth.

COMPETITIVE LANDSCAPE

Johnson & Johnson Vision Care Inc continued to lead the contact lenses category in India in 2016, and garnered a 34% retail value share. It was followed closely by Bausch & Lomb Eyecare (India) Pvt Ltd, with a 32% retail value share. Both these players have a strong retail and online presence in India, and offer the latest variants of their international brands, such as Soflens 59, Acuvue Oasys, 1-Day Acuvue Moist and Acuvue 2. Consumers are very cautious when buying contact lenses, due to safety concerns, and hence prefer to opt for reputed international brands, which they perceive to follow international quality standards.

PROSPECTS

Over the forecast period, demand for contact lenses is expected to continue to be strong in the Indian market. Contact lenses are expected to register a retail value CAGR of 13% in constant terms over the forecast period, with sales reaching Rs11 billion at constant 2016 prices by 2021. The Indian consumer base is young and the country will continue to have a young population over the forecast period. These consumers are willing to experiment and adapt to global fashion trends, which will boost sales of contact lenses. Also, the country is expected to witness strong economic growth over the forecast period, resulting in increased disposable incomes, which will bring more consumers into the contact lenses market.

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