South Africa Contact Lenses Market to Decline Slightly through 2020, Informs Euromonitor in Its New Topical Study Recently Added at MarketPublishers.c03 Oct 2016 • by Natalie Aster
LONDON – This year, the contact lenses industry in South Africa posted value growth by 5%. Growth in this market is driven primarily by high and middle-income groups. Meantime, the major part of the country’s population is low-income earners, who have limited access to eye care and also don’t view eye care as a priority. Therefore, only a limited share of the South Africa population drives the demand for eyewear.
CooperVision SA takes lead in the contact lenses market in South Africa; this company accounted for an 18% share of the market value in the past year. CooperVision’s success could be attributed to several its well-recognised brands such as Biofinity, CooperVision and Proclear. This company can boast an extensive distribution network due to its association with the domestic eye care practitioners, thereby adding more exposure to its brands.
In the years to come, the weak economic situation in the country is expected to play a significant role in shaping the local demand for contact lenses. Given declining disposable incomes, consumers in South Africa will search for cost saving initiatives. The contact lenses market in South Africa is anticipated to decline at 1% CAGR at constant 2016 prices through 2020.
Cutting-edge research reports “Contact Lenses in South Africa” issued by Euromonitor International, Ltd. provides a granular analysis of the South African market for contact lenses.
Products covered in the report include: daily disposable lenses (DD), conventional lenses and frequent replacement lenses (FRP).
The topical report contains reliable updated statistics, gives data on the market size, segmentation and shares; explores the competitive landscape and uncovers details on top players; offers access to the latest retail sales statistics. The report points out the key market growth hinders, drivers, threats and opportunities as well as outlines the top emerging growth prospects and points out lucrative growth areas. Additionally, the report includes future market forecasts through 2020.
Other topical research reports by this publisher are available at the Euromonitor International page.