Egypt Contact Lenses Market Analysis

Egypt Contact Lenses Market Executive Summary

Egypt Contact Lenses Market was valued at $47.99 Mn in 2023 and is predicted to grow at a CAGR of 10.4% from 2023 to 2030, $95.93 Mn by 2030. 

Contact lenses are versatile medical devices placed directly on the eye, serving both functional and cosmetic purposes. They come in several types: soft lenses, made of flexible plastic allowing oxygen to the cornea; rigid gas permeable lenses for sharper vision; hybrid lenses combining features of both; and scleral lenses covering the cornea and sclera, useful for irregular corneas. They correct refractive errors like myopia and hyperopia and cater to cosmetic needs with colored variants. Fitting by an optometrist or ophthalmologist ensures proper selection based on individual eye health and lifestyle. Regular cleaning and adherence to wearing schedules are crucial for preventing infections and maintaining eye health. Risks include infections, dry eyes, and corneal abrasions if not used correctly. Regulated as medical devices, advancements like silicone hydrogel materials and UV-blocking capabilities enhance safety and comfort, making contact lenses a popular choice for vision correction and aesthetic enhancement globally.

Globally, eye health is a critical concern, with at least 2.2 Bn people experiencing vision impairment or blindness, of which 1 Bn cases could have been prevented or remain unaddressed due to factors like aging populations, lifestyle changes, and limited access to eye care in low- and middle-income countries. Approximately 224 Mn people worldwide are highly nearsighted, and 36.1% of the U.S. population has myopia, particularly in urban areas. Eye injuries from foreign bodies, explosive injuries, road accidents, and self-inflicted harm present additional challenges. Addressing visual impairments caused by refractive errors, cataracts, macular degeneration, glaucoma, and diabetic retinopathy requires an estimated $14.3 Bn

The market therefore is driven by significant factors like rising vision problems, growing disposable income, and technological advancements. However cost, limited eye care awareness, regulations and distribution restrict the growth and potential of the market.

Prominent players in this field are Bausch and Lomb, which emphasizes daily disposable contact lenses enhanced with comfort technologies and supports sustainability initiatives. On the other hand, CooperVision focuses on innovation through advanced materials, specialized solutions for myopia management, and convenient subscription services for contact lenses. Other contributors include Alcon Vision LLC, and Essilor International S.A. among others.

Market Dynamics

Market Growth Drivers

Rising Vision Problems:  High prevalence of myopia (near-sightedness) in Egypt, particularly among young adults. A survey suggests the prevalence could be as high as 30-40% among university students. This increasing need for vision correction fuels the demand for contact lenses.

Growing Disposable Income: Egypt's economy is experiencing growth, leading to rising disposable incomes. This allows more people to afford contact lenses, which were previously considered a luxury item for many.

Technological Advancements: New materials and technologies like silicone hydrogel and daily disposable lenses are readily available in France. These advancements offer improved comfort, wearability, and user experience, encouraging more people to choose contact lenses.

Market Restraints

Cost: Contact lenses can still be costly, particularly specialty lenses or those needing frequent replacement. This can pose a challenge for some consumers, although the market for more affordable private-label lenses is expanding.

Limited Eye Care Awareness: Improper contact lens use can lead to eye infections and other complications. Raising awareness about proper lens care and hygiene practices is crucial. Studies suggest a knowledge gap exists regarding proper hygiene practices.

Regulatory Landscape and Reimbursement Scenario

The Egyptian contact lens market is regulated by the Egyptian Drug Authority (EDA) and the Ministry of Health and Population (MOHP). The EDA is responsible for registering and regulating all medical devices, including contact lenses. Manufacturers must submit technical documentation and samples for testing and approval before selling lenses in Egypt. The MOHP ensures the safety and quality of these devices by establishing regulations and guidelines for labeling, advertising, and distribution. Key regulatory considerations include the mandatory registration of all contact lenses with the EDA, labeling requirements in Arabic that must include detailed product information, and truthful advertising that necessitates specific approval for therapeutic claims. Distribution is restricted to licensed pharmacies, optical shops, and ophthalmologists who can dispense lenses to their patients.

In Egypt, contact lenses are generally not covered by health insurance, requiring patients to pay out-of-pocket. This is largely because contact lenses are classified as non-essential medical devices compared to corrective glasses. Public health insurance plans in Egypt typically focus on essential medical services and medications, prioritizing preventative care and the treatment of chronic illnesses. This focus limits the coverage for non-essential items like contact lenses, thereby influencing the reimbursement landscape and making patients responsible for the full cost of their contact lenses.

Competitive Landscape

Key Players

Here are some of the major key players in the Egypt Contact Lenses Market

• Johnson & Johnson
• Alcon Vision LLC
• Bausch & Lomb, Incorporated
• ZEISS International
• Contamac
• CooperVision, Inc.
• Essilor International S.A.
• Hoya Corporation
• Medennium
• Seed Co., Ltd.