Market Forecast By Material (Gas Permeable, Silicone Hydrogel, Hybrid), By Design (Spherical, Toric, Multifocal, Others), By Application (Corrective, Therapeutic, Cosmetic, Prosthetic, Lifestyle-oriented), By Distribution Channel (E-commerce, Eye Care Practitioners, Retail), By Usage (Daily Disposable, Disposable, Frequently Replacement, Traditional) And Competitive Landscape
Product Code: ETC074031 | Publication Date: Jun 2021 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Bangladesh Contact Lenses Market report thoroughly covers the market by design, by material, by application, by distribution channel, and by usage. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Bangladesh Contact Lenses Market is dynamic and evolving and is projected to attain significant growth in the coming years driven by the increasing prevalence of eye-related disorders, rising awareness about the importance of vision correction, and advancements in lens technology. The market is also going through certain challenges that can hamper its growth to a certain extent in the near future.
According to 6Wresearch, the Bangladesh Contact Lenses Market size is expected to grow at a significant CAGR of 7% during the forecast period 2024-2030. This growth is propelled by the increasing prevalence of eye-related disorders, rising awareness about the importance of vision correction, and advancements in lens technology. The rising prevalence of vision disorders such as myopia (nearsightedness), hyperopia (farsightedness), and astigmatism among the population is a significant driver for the contact lenses market. Despite the benefits of Contact Lenses, there are some challenges in the market. Some of the challenges are affordability and product quality. The cost of contact lenses, particularly specialty lenses and branded products, can be prohibitive for many consumers in Bangladesh, especially those from lower-income households and the presence of counterfeit and substandard quality contact lenses in the market poses risks to consumer safety and eye health. Despite these challenges, the Bangladesh Contact Lenses Market growth is boosting with some growing factors. There is a greater awareness and acceptance of contact lenses as a viable alternative to traditional eyeglasses for vision correction. Improved education and awareness campaigns about the benefits of contact lenses also contributes to market growth. Moreover, Advancements in contact lens materials, designs, and manufacturing processes have led to the development of more comfortable and convenient contact lenses, further driving market growth. Β
Some of the key players operating in the market include Alcon, Bausch + Lomb, Johnson & Johnson Vision, CooperVision, and Hoya Corporation. These companies have a significant presence in the country and offer a wide range of products catering to different types of contact lens wearers.
Government regulations play a significant role in the Bangladesh Contact LensesMarket. The Drug Control Ordinance regulates the import, manufacture, distribution, sale, and quality control of pharmaceuticals and medical devices in Bangladesh. Contact lenses are considered medical devices and may be subject to registration, licensing, and quality control requirements under this ordinance. Additionally, contact lenses may need to comply with Bangladesh Standards and Testing Institution (BSTI) standards and undergo testing and certification to ensure quality, safety, and efficacy.
The Bangladesh Contact Lenses industry has been experiencing significant growth over the past few years. Several factors will shape the future of the market. The Contact Lenses market is predicted to expand with rising demand for contact lenses due to prevalence of eye diseases and increasing awareness about eye care. The contact lenses market is likely to witness continued technological advancements aimed at improving comfort, breathability, and vision correction capabilities.
According to Dhaval, Research Manager, 6Wresearch, Gas permeable lenses are expected to hold the dominant share in the Bangladesh contact lenses market by material. This can be attributed to their durability, longer lifespan, and ability to correct a wider range of vision problems compared to other types of lenses.
The corrective segment is expected to hold the dominant share in the Bangladesh contact lenses market by application. This is due to the high prevalence of refractive errors in the country, which require vision correction through contact lenses.
Eye care practitioners hold the dominant share in terms of distribution channel in the Bangladesh contact lenses market. This can be attributed to the fact that most consumers prefer to consult with an eye care professional before purchasing contact lenses, especially for first-time wearers.
Daily disposable lenses are expected to hold the dominant share in the Bangladesh contact lenses market by usage. These lenses offer convenience and hygiene, as they are designed to be worn for a single day before being discarded.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Bangladesh Contact Lenses Market Overview |
3.1 Bangladesh Country Macro Economic Indicators |
3.2 Bangladesh Contact Lenses Market Revenues & Volume, 2020 & 2030F |
3.3 Bangladesh Contact Lenses Market - Industry Life Cycle |
3.4 Bangladesh Contact Lenses Market - Porter's Five Forces |
3.5 Bangladesh Contact Lenses Market Revenues & Volume Share, By Material, 2020 & 2030F |
3.6 Bangladesh Contact Lenses Market Revenues & Volume Share, By Design, 2020 & 2030F |
3.7 Bangladesh Contact Lenses Market Revenues & Volume Share, By Form, 2020 & 2030F |
3.8 Bangladesh Contact Lenses Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
3.9 Bangladesh Contact Lenses Market Revenues & Volume Share, By Usage, 2020 & 2030F |
4 Bangladesh Contact Lenses Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Bangladesh Contact Lenses Market Trends |
6 Bangladesh Contact Lenses Market, By Types |
6.1 Bangladesh Contact Lenses Market, By Material |
6.1.1 Overview and Analysis |
6.1.2 Bangladesh Contact Lenses Market Revenues & Volume, By Material, 2020 - 2030F |
6.1.3 Bangladesh Contact Lenses Market Revenues & Volume, By Gas Permeable, 2020 - 2030F |
6.1.4 Bangladesh Contact Lenses Market Revenues & Volume, By Silicone Hydrogel, 2020 - 2030F |
6.1.5 Bangladesh Contact Lenses Market Revenues & Volume, By Hybrid, 2020 - 2030F |
6.2 Bangladesh Contact Lenses Market, By Design |
6.2.1 Overview and Analysis |
6.2.2 Bangladesh Contact Lenses Market Revenues & Volume, By Spherical, 2020 - 2030F |
6.2.3 Bangladesh Contact Lenses Market Revenues & Volume, By Toric, 2020 - 2030F |
6.2.4 Bangladesh Contact Lenses Market Revenues & Volume, By Multifocal, 2020 - 2030F |
6.2.5 Bangladesh Contact Lenses Market Revenues & Volume, By Others, 2020 - 2030F |
6.3 Bangladesh Contact Lenses Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Bangladesh Contact Lenses Market Revenues & Volume, By Corrective, 2020 - 2030F |
6.3.3 Bangladesh Contact Lenses Market Revenues & Volume, By Therapeutic, 2020 - 2030F |
6.3.4 Bangladesh Contact Lenses Market Revenues & Volume, By Cosmetic, 2020 - 2030F |
6.3.5 Bangladesh Contact Lenses Market Revenues & Volume, By Prosthetic, 2020 - 2030F |
6.3.6 Bangladesh Contact Lenses Market Revenues & Volume, By Lifestyle-oriented, 2020 - 2030F |
6.4 Bangladesh Contact Lenses Market, By Distribution Channel |
6.4.1 Overview and Analysis |
6.4.2 Bangladesh Contact Lenses Market Revenues & Volume, By E-commerce, 2020 - 2030F |
6.4.3 Bangladesh Contact Lenses Market Revenues & Volume, By Eye Care Practitioners, 2020 - 2030F |
6.4.4 Bangladesh Contact Lenses Market Revenues & Volume, By Retail, 2020 - 2030F |
6.5 Bangladesh Contact Lenses Market, By Usage |
6.5.1 Overview and Analysis |
6.5.2 Bangladesh Contact Lenses Market Revenues & Volume, By Daily Disposable, 2020 - 2030F |
6.5.3 Bangladesh Contact Lenses Market Revenues & Volume, By Disposable, 2020 - 2030F |
6.5.4 Bangladesh Contact Lenses Market Revenues & Volume, By Frequently Replacement, 2020 - 2030F |
6.5.5 Bangladesh Contact Lenses Market Revenues & Volume, By Traditional, 2020 - 2030F |
7 Bangladesh Contact Lenses Market Import-Export Trade Statistics |
7.1 Bangladesh Contact Lenses Market Export to Major Countries |
7.2 Bangladesh Contact Lenses Market Imports from Major Countries |
8 Bangladesh Contact Lenses Market Key Performance Indicators |
9 Bangladesh Contact Lenses Market - Opportunity Assessment |
9.1 Bangladesh Contact Lenses Market Opportunity Assessment, By Material, 2020 & 2030F |
9.2 Bangladesh Contact Lenses Market Opportunity Assessment, By Design, 2020 & 2030F |
9.3 Bangladesh Contact Lenses Market Opportunity Assessment, By Application, 2020 & 2030F |
9.4 Bangladesh Contact Lenses Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
9.5 Bangladesh Contact Lenses Market Opportunity Assessment, By Usage, 2020 & 2030F |
10 Bangladesh Contact Lenses Market - Competitive Landscape |
10.1 Bangladesh Contact Lenses Market Revenue Share, By Companies, 2023 |
10.2 Bangladesh Contact Lenses Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |