MARKET OUTLOOK
The contact lenses market in Canada was expected to reach $XX million by 2025, whilst growing at a CAGR of 1.85% over the forecasting period of 2019-2025. The market was valued $XX million in the year 2018.
Due to the convenience and hygiene offered, daily disposable lenses (DD) are going to be the preferred choice for consumers over conventional lenses, and the sales of conventional lenses are expected to continue to fall. The demand for contact lenses will continue to grow, especially in multifocal lenses. Vision correction for presbyopia is likely to be the next avenue for growth because of favorable demographic trends. Growth in the area is threatened by the development of daily disposable lenses (DD) as some consumers will opt for convenience and health, as well as, the possibility of eliminating the cost of contact lens solutions. Laser surgery represents a key threat to growth over the forecast period and an alternative for consumers to correct vision as it removes the need for repeated purchases of contact lenses and solutions.
COMPETITIVE OUTLOOK
Some of the companies present in the Canada contact lenses market are Bausch & Lomb Canada, Inc., CooperVision Canada Corp., Ciba Vision Canada, Inc. and Johnson & Johnson Vision Care Canada.