Middle East and Africa Vision Care Market Developments and Forecast by 2027

Middle East and Africa Vision Care Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Eye Glasses, Contact Lens, Intraocular Lens, and Others) and Distribution Channel (Retail Stores, E-Commerce, Clinics, and Hospitals)

  • Report Code : TIPRE00027179
  • Category : Life Sciences
  • No. of Pages : 112
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The MEA vision care market is expected to grow from US$ 3,533.97 million in 2020 to US$ 4,568.93 million by 2027; it is estimated to grow at a CAGR of 3.7% from 2020 to 2027.

Several players operating in the vision care market are developing and launching new products. The strategy of countries and manufacturing capacity expansion, along with the product launch strategies, helps companies to cater to a broad customer base. Menicon Co., Ltd.—a leading contact lens developer—received approval for its Menicon Z Night (tisilfocon A) Contact Lenses for overnight wear. Additionally, in May 2019, the company launched Menicon Bloom Myopia Control Management System. Menicon Bloom Night therapy includes the overnight wear of a specifically designed reverse geometry orthokeratology contact lens, which is manufactured in hyper oxygen permeable Menicon Z rigid material that guarantees ideal corneal oxygenation for comfortable contact lens wear. Similarly, in August 2019, Alcon, the global leader in eye health, launched PRECISION1—daily disposable, silicone hydrogel (SiHy) contact lenses—the latest addition to its robust contact lens portfolio. PRECISION1 is the first and only contact lens with Alcon’s proprietary SMARTSURFACE technology that delivers lasting visual performance from morning to night.  Additionally, in May 2019, Johnson & Johnson Vision launched Acuvue Oasys contact lens with transitions light intelligent technology. The photochromic contact lens would support eye protection and help in managing the stress associated with light conditions. Such developments and launches of new products are emerging as a key trend in the MEA vision care market.

In case of COVID-19, MEA is highly affected especially South Africa. Countries in the Middle East have also widely affected the socio-economic condition by the COVID–19 pandemic. However, the countries have wisely reacted to the COVID–19 pandemic to avoid the spread of infection. The pandemic has brought unprecedented challenges for eye care in the MEA region. Guinness Eye Centre (GEC) is the Eye Department of Lagos University, Nigeria offers specialist eye care to between 13,000 - 15,000 people every year from Lagos, neighboring states, and other countries. An increase in number of confirmed COVID-19 cases in Lagos, hospital managers decided to reduce services in order to protect staff. Non-urgent follow up appointments, Elective surgeries and clinic consultations were postponed. Only emergent conditions such as retinoblastoma, retinopathy of prematurity, red eye, trauma, and sudden vision los were attended. Similarly in Ethiopia eye health units have suspended eye examinations due to the fear of spread of corona virus and only injury-related eye emergencies are being attended. Elective ocular surgery have been suspended across the country, and people with eye diseases such as bilateral blindness from cataract, are being turned away, even if surgery would improve vision. Also, corrective eyelid surgical services to treat trichiasis have been suspended, leaving hundreds of thousands of people at risk of getting an irreversible vision impairment. Community-based eye health surveys and ongoing research have also been discontinued, which has led to considerable delays in the planning of eye health services. These factors are likely to have negative impact on the market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA vision care market. The MEA vision care market is expected to grow at a good CAGR during the forecast period.  

 

MEA Vision Care Market Revenue and Forecast to 2027 (US$ Million)

MEA Vision Care Market Segmentation

MEA Vision Care Market – By Product Type

  • Eye Glasses
  • Contact Lens
  • Intraocular Lens
  • Others

MEA Vision Care Market – By Distribution Channel

  • Retail Stores
  • E-Commerce
  • Clinics
  • Hospitals

MEA Vision Care Market, by Country

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA  

MEA Vision Care Market - Companies Mentioned

  • Alcon Inc.
  • Bausch Health Companies Inc.
  • Carl Zeiss AG
  • Cooper Companies, Inc.
  • EssilorLuxottica SA
  • HOYA Corporation
  • Johnson and Johnson Services, Inc.
  • Menicon Co., Ltd.
  • Rayner Intraocular Lenses Limited
  • RODENSTOCK GMBH
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 MEA Vision Care Market – By Product Type

1.3.2 MEA Vision Care Market – By Distribution Channel

1.3.3 MEA Vision Care market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. MEA Vision Care Market– Market Landscape

4.1 Overview

4.2 MEA PEST Analysis

4.3 Expert Opinions

5. MEA Vision Care Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Prevalence of Eye Diseases

5.1.2 Escalating Funds for Eye Care Research

5.2 Market Restraints

5.2.1 Disadvantages Associated with Contact Lens

5.3 Market Opportunities

5.3.1 Burgeoning Awareness About Vision Care

5.4 Future Trends

5.4.1 Rising Development of Innovative Products

5.5 Impact analysis

6. Vision Care Market – MEA Analysis

6.1 MEA Vision Care Market Revenue Forecast and Analysis

7. MEA Vision Care Market Analysis – By Product Type

7.1 Overview

7.2 MEA Vision Care Market Revenue Share, by Product Type (2019 and 2027)

7.3 Eye Glasses

7.3.1 Overview

7.3.2 Eye Glasses: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Contact Lens

7.4.1 Overview

7.4.2 Contact Lens: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Intraocular Lens

7.5.1 Overview

7.5.2 Intraocular Lens: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

7.6 Other

7.6.1 Overview

7.6.2 Other: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

8. MEA Vision Care Market Analysis – By Distribution Channel

8.1 Overview

8.2 MEA Vision Care Market Share, by Distribution Channel, 2019 and 2027

8.3 Hospitals

8.3.1 Overview

8.3.2 Hospital: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

8.4 Retail Stores

8.4.1 Overview

8.4.2 Retail Stores: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

8.5 E-Commerce

8.5.1 Overview

8.5.2 E-Commerce: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

8.6 Clinics

8.6.1 Overview

8.6.2 Clinics: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

9. MEA Vision Care Market – Country Analysis

9.1 MEA: Vision Care Market Revenue and Forecasts To 2027

9.1.1 Overview

9.1.2 MEA Vision Care Market, By Country, 2019 & 2027 (%)

9.1.2.1 UAE: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.1.1 UAE Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.1.2 UAE Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

9.1.2.1.3 UAE Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

9.1.2.2 Saudi Arabia: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.2.1 Saudi Arabia: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.2.2 Saudi Arabia: Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

9.1.2.2.3 Saudi Arabia Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

9.1.2.3 South Africa: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.3.1 South Africa: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2.3.2 South Africa: Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

9.1.2.3.3 South Africa: Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

9.1.2.4 Rest of MEA: Vision Care Market – Revenue and Forecast to 2027 (USD Million)

9.1.2.4.1 Rest of MEA: Vision Care Market – Revenue and Forecast to 2027 (USD Million)

9.1.2.4.2 Rest of MEA Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

9.1.2.4.3 Rest of MEA Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

10. Impact Of COVID-19 Pandemic on MEA Vision Care Market

10.1 MEA: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Organic Developments

11.2.1 Overview

11.3 Inorganic Developments

11.3.1 Overview

12. Company Profiles

12.1 Alcon Inc.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Bausch Health Companies Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Carl Zeiss AG

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Cooper Companies, Inc.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 EssilorLuxottica SA

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Johnson and Johnson Services, Inc.

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 HOYA Corporation

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 RODENSTOCK GMBH

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Menicon Co., Ltd.

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Rayner Intraocular Lenses Limited

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About the Insight Partners

13.2 Glossary of Terms


LIST OF TABLES

Table 1. MEA Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Table 2. UAE Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

Table 3. UAE Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

Table 4. Saudi Arabia: Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

Table 5. Saudi Arabia Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

Table 6. South Africa: Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

Table 7. South Africa: Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

Table 8. Rest of MEA Vision Care Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)

Table 9. Rest of MEA Vision Care Market Revenue And Forecasts to 2027, By Distribution Channel (US$ Mn)

Table 10. Organic Developments Done by Companies

Table 11. Inorganic Developments Done by Companies

Table 12. List of Abbreviation


LIST OF FIGURES

Figure 1. MEA Vision Care Market Segmentation

Figure 2. MEA Vision Care Market Segmentation, By Country

Figure 3. MEA Vision Care Market Overview

Figure 4. Eye Glasses Segment by Product Type Expected to Witness Rapid Growth

Figure 5. Saudi Arabia to Show Significant Growth During Forecast Period

Figure 6. MEA PEST Analysis

Figure 7. MEA Vision Care Market Impact Analysis of Driver and Restraints

Figure 8. MEA Vision Care Market – Revenue Forecast and Analysis – 2018- 2027

Figure 9. MEA Vision Care Market Revenue Share, by Product Type (2019 and 2027)

Figure 10. MEA Eye Glasses: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 11. MEA Contact Lens: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12. MEA Intraocular Lens: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 13. MEA Other: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. MEA Vision Care Market Share, by Distribution Channel, 2019 and 2027

Figure 15. MEA Hospital: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16. MEA Retail Stores: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17. MEA E-Commerce: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. MEA Clinics: Vision Care Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. MEA: Vision Care Market Revenue Overview, by Country, 2019 (US$ Mn)

Figure 20. MEA: Vision Care Market, By Country, 2019 & 2027 (%)

Figure 21. UAE Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 22. Saudi Arabia: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 23. South Africa: Vision Care Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 24. Rest of MEA: Vision Care Market – Revenue and Forecast to 2027 (USD Million)

Figure 25. Impact Of COVID-19 Pandemic in MEA Country Markets

  1. Alcon Inc.
  2. Bausch Health Companies Inc.
  3. Carl Zeiss AG
  4. Cooper Companies, Inc.
  5. EssilorLuxottica SA  
  6. HOYA Corporation    
  7. Johnson and Johnson Services, Inc.
  8. Menicon Co., Ltd.
  9. Rayner Intraocular Lenses Limited
  10. RODENSTOCK GMBH  

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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