MARKET OUTLOOK
The market for contact lenses in Russia is projected to expand with 3.58% of CAGR in the forecasting period of 2019-2025.
The contact lenses market in Russia is mainly driven by the large number of people in the country suffering from eye-related conditions such as astigmatism or myopia. The average unit price of contact lenses rose by 7% in 2017. Frequent replacement lenses (FRP) have shown a high adoption rate among Russians; these contact lenses are still preferred because they are cheaper as compared to daily disposable lenses (DD). On the other hand, conventional lenses will continue to suffer from the growing popularity of more advanced and comfortable alternatives, resulting in a further volume and value sales decline for this category over the forecast period. A key threat to contact lenses over the forecast period is a sharp intensification of the economic crisis, as a dramatic drop in consumers’ disposable incomes would then be likely.
COMPETITIVE OUTLOOK
The leading companies in the Russia contact lenses market are Maxima Optics, Inc., Novartis Consumer Health, CooperVision, Inc., Valeant and Johnson & Johnson.