The Asia-Pacific region is the fastest-growing market for contact lens in the world. Major players are eyeing the Indian market for growth where the demand is on the rise and penetration low.
The penetration of contact lens in the country is a mere 5 per cent. The number of people with vision imperfection is over 15 million.
A number of factors contribute to the low penetration, such as apprehensions in inserting a foreign particle in the eye, the lack of awareness about the benefits and the belief that spectacles are more economical.
Bausch and Lomb is the market leader for the category in India.
In this category, the demand for varifocals is increasing compared to bifocals, even though varifocals are four times as expensive as a single-vision lens. There is also a transition towards disposable lenses from hard and semi-soft lenses, primarily because of comfort.