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Learn moreJul 2016
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Economic crisis, devaluation of local currency and a vast drop in consumers’ disposal incomes continued to have a strongly negative impact on contact lenses in 2016. Growing inflation, rising prices and escalating fees for utilities forced many Russians to choose price over quality. Since many contact lens users wear these items in addition to spectacles, some consumers switched to using only spectacles, as they were unable to afford to purchase contact lenses, and instead chose to buy first-necessity products.
The competitive landscape in contact lenses remained largely unchanged in 2015. Johnson & Johnson OOO continued to lead the category with a 26% share of retail value sales. The strong position of Johnson & Johnson is explained by its popular Acuvue brand. Valeant OOO ranked second with a 22% value share. The company has a number of brands such as SofLens and PureVision, which continued to perform well over the review period.
Despite the economic slowdown in Russia, contact lenses is still considered unsaturated, having good growth potential. However, contact lenses is expected to record a more moderate performance than was expected prior to the economic crisis in the short term period, due to a slow recovery from the crisis. Russians are set to react positively to educational efforts by manufacturers and to learn about the advantages of contact lenses and use them on a more regular basis. Consumers of contact lenses are expected to become more involved in online communities and discuss product hygiene and product quality.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Contact Lenses industry in Russia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Contact Lenses industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our contact lenses market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.