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Israel Contact Lenses Market Competition Forecast & Opportunities, 2028

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  • 74 Pages
  • August 2023
  • Region: Israel
  • TechSci Research
  • ID: 5877733
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Israel Contact Lenses Market is anticipated to grow significantly in the projected period of 2028 that is driven by the increasing refractive disorders and technological advancements in medical industries

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The Israel Contact Lenses Market is anticipated to grow significantly in the projected period of 2028 that is driven by the increasing refractive disorders and technological advancements in medical industries. The Contact lenses market in Israel has experienced substantial growth in recent years, driven by various factors such as changing lifestyles and increasing awareness about eye health.

Contact lenses, which are used as an alternative to traditional eyeglasses, provide a convenient and comfortable way to correct vision and are gaining popularity among Israelis of all ages. One of the key factors driving the demand for contact lenses in Israel is the changing lifestyles and preferences of the population. As more Israelis lead active and dynamic lives, they are opting for contact lenses as they offer greater convenience and flexibility compared to traditional eyeglasses. Contact lenses provide better vision correction for outdoor activities, sports, and social events, without the hassle of frames that can obstruct the field of vision or get fogged up hence, augmenting the growth of Israel Contact lenses market.

Moreover, the cosmetic appeal of contact lenses is a significant factor contributing to their popularity. Colored contact lenses, which can change the appearance of the eyes and enhance one's overall look, are gaining traction among younger consumers in Israel who are keen on fashion and beauty trends. This trend is driving the demand for cosmetic contact lenses, which are available in various colors and patterns, and are becoming increasingly popular for both prescription and non-prescription use, which is expected to grow the Israel Contact lenses Market in the forecast period. Moreover, technological advancements have played a crucial role in the growth of the contact lens market in Israel. Contact lens manufacturers are constantly innovating to develop advanced lens materials, designs, and technologies that offer improved comfort, durability, and vision correction.

For instance, silicone hydrogel lenses, which are made from advanced materials that allow more oxygen to pass through the lens to the cornea, have gained popularity in Israel as they offer enhanced comfort and are suitable for extended wear. Additionally, toric lenses, which are designed to correct astigmatism, and multifocal lenses, which offer vision correction for presbyopia, are gaining traction in the Israel market, leading to increased demand for Contact lenses hence booming the Israel Contact lenses market. These innovative products are driving consumer interest and helping to expand the Contact lenses market in Israel. According to the Israeli Association for Ocular Health, 500,000 people experience vision problems and eye illnesses in Israel.

Rising Awareness Regarding Benefits associated with the use of Contact lenses.

With advancements in technology, lenses have emerged as a superior alternative to traditional eyeglasses, providing wearers with a clear vision of the future. From contact lenses to prescription eyeglass lenses, these modern optical marvels offer numerous advantages over traditional eyewear, making them a preferred choice for many individuals. This has led to an increase in demand for Contact lenses, hence augmenting the growth of the Israel Contact lenses market. One of the biggest advantages of lenses over traditional eyeglasses is their ability to provide better vision correction. Lenses, whether they are contact lenses or prescription eyeglass lenses, are customized to fit the shape of the wearer's eye. This ensures a precise and accurate vision correction, which can be difficult to achieve with traditional eyeglasses that may not fit perfectly or may cause distortion due to the frame or lens thickness. Lenses cover the entire field of vision, eliminating the need to constantly adjust the frame or lens position as required with glasses. Companies are investing in the development of new and more efficient Contact lenses to meet the growing demand and to improve efficiency and performance. Hence, all these factors or efforts are going to propel the Israel Contact lenses Market growth.

Also, Contact lenses provide the flexibility to switch between different eye colors or even wear colored lenses to enhance one's appearance, making them a popular choice among fashion-conscious individuals. Further, for those with an active lifestyle, lenses are a game-changer. Traditional eyeglasses can be cumbersome during physical activities, making them inconvenient for sports, outdoor activities, or exercise. According to Ophthalmology Department at Hadassah University Medical Center in Jerusalem’s Ein Kerem, approximately 3 million people wears contact lens in Israel, with average age of 30.3 years +/-10.8 years and more than 6 out of 10 are females.

Rising Technological Advancements and Innovations in the production Process of Medical Devices

Contact lenses have revolutionized the field of vision correction, providing millions of people with an alternative to traditional eyeglasses. Over the years, advancements in technology have continuously improved the design, comfort, and effectiveness of contact lenses. With the rapid pace of innovation, the manufacturing process of contact lenses has evolved, paving the way for exciting breakthroughs that are transforming the landscape of vision correction augmenting the growth of Israel Contact lenses market.

By using advanced scanning and imaging technologies, eye care professionals can obtain precise measurements of the cornea, iris, and other relevant factors to create lenses that fit perfectly on the eye. Customized contact lenses offer improved comfort, better vision correction, and reduced risk of complications such as dryness and discomfort which leads to the growth of Israel Contact lenses market. Also, the integration of technology into contact lenses has led to the development of smart contact lenses, which are equipped with sensors, microchips, and other electronic components. These lenses can monitor various parameters of the eye, such as intraocular pressure, glucose levels, and tear film composition, in real-time. The data collected by smart contact lenses can be wirelessly transmitted to a smartphone or other devices for analysis and interpretation, allowing for early detection and management of eye conditions such as glaucoma and diabetes-related ocular complications. Smart contact lenses have the potential to revolutionize eye care by providing continuous, non-invasive monitoring of ocular health, leading to early intervention and improved patient outcomes. Therefore, it is expected that growing technological advancements in Israel has positive impact on the Israel contact lenses market. According to International Trade Administration, medical devices make about USD2.4 billion of Israel's total USD6.2 billion healthcare technology market.

Recent Development

  • In 2021, the Israeli Association for Ocular Health and the Prevention of Blindness (LIROT) is running a project, and the L'OCCITANE Foundation and L'OCCITANE Israel are renewing their collaboration to assist it. The main goal is to implement eye screening exams for children to identify signs of lazy eye and for older persons utilizing telemedicine to prevent preventable blindness.
  • In October 2022, new information on Blue-Violet Light Filtering Technology in ACUVUE® OASYS MAX 1-DAY Contact Lenses was Disclosed by Johnson & Johnson Vision. According to research, blue-violet light-filtering contact lenses lessen glare pain and might hasten the recuperation of the eyes after exposure to bright light.
  • In March 2023, cooper vision addresses the symptoms of pervasive digital eye strain, by signaling a new advancement, MyDay Energys® lenses. MyDay® portfolio can fit patients between the sphere, the expanded toric parameters, and the multifocal.

Market Segmentation

Israel Contact lenses market is segmented into product type, usage, modality, design, and region. Based on product type, Israel Contact lenses market is divided into soft contact lenses, hybrid contact lenses, rigid gas permeable contact lenses, and other product types. Based on usage, Israel Contact lenses market is categorized into corrective contact lenses, therapeutic contact lenses, cosmetic contact lenses, and prosthetic contact lenses. Based on modality, Israel Contact lenses market is categorized into conventional and disposable. Based on design, Israel Contact lenses market is categorized into spherical, toric, multifocal, and other designs. Based on region, the Israel Contact lenses market is segmented into the Mediterranean Coastal Plain, the Central Hills, The Jordan Rift Valley, and the Negev Desert.

Company Profiles

Hanita lenses ltd, Soflex Contact Lens Industries, ROTLEX ltd., Shamir Optical Industry Ltd., Hoya Vision Care Israel Ltd., Opticana Israel Ltd., Acuvue (Johnson & Johnson), Cooper Vision Inc, EyeYon Medical Ltd., Synerg Eyes Inc. are some of the key players of Israel Contact lenses market.

Report Scope

In this report, the Israel Contact lenses market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Israel Contact lenses Market, by Product Type:

  • Soft Contact Lenses
  • Hybrid Contact Lenses
  • Rigid Gas Permeable Contact Lenses
  • Other

Israel Contact lenses Market, by Usage:

  • Corrective Contact Lenses
  • Therapeutic Contact Lenses
  • Cosmetic Contact Lenses
  • Prosthetic Contact Lenses

Israel Contact lenses Market, by Modality:

  • Conventional
  • Disposable

Israel Contact lenses Market, by Design:

  • Spherical
  • Toric
  • Multifocal
  • Others

Israel Contact lenses Market, by Region:

  • The Mediterranean Coastal Plain
  • The Central Hills
  • The Jordan Rift Valley
  • The Negev Desert

Competitive landscape

Company Profiles: Detailed analysis of the major companies in Israel Contact lenses market.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Israel Contact Lenses Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Modality (Reusable v/s Disposable)
5.2.2. By Design (Spherical, Toric, Multifocal, Others)
5.2.3. By Material Type (Silicone Hydrogel, Hydrogel, Gas Permeable, Others)
5.2.4. By Application (Corrective, Therapeutic, Cosmetic, Others)
5.2.5. By Distribution Channel (Retail Stores, Hospitals & Clinics, Online)
5.2.6. By Region
5.2.7. By Company (2022)
5.3. Product Market Map
5.3.1. By Modality
5.3.2. By Design
5.3.3. By Material Type
5.3.4. By Application
5.3.5. By Distribution
5.3.6. Region
6. Israel Reusable Contact Lenses Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Design (Spherical, Toric, Multifocal, Others)
6.2.2. By Material Type (Silicone Hydrogel, Hydrogel, Gas Permeable, Others)
6.2.3. By Application (Corrective, Therapeutic, Cosmetic, Others)
6.2.4. By Distribution Channel (Retail Stores, Hospitals & Clinics, Online)
7. Israel Disposable Contact Lenses Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Design (Spherical, Toric, Multifocal, Others)
7.2.2. By Material Type (Silicone Hydrogel, Hydrogel, Gas Permeable, Others)
7.2.3. By Application (Corrective, Therapeutic, Cosmetic, Others)
7.2.4. By Distribution Channel (Retail Stores, Hospitals & Clinics, Online)
8. Market Dynamics
8.1. Drivers
8.2. Challenges
9. Market Trends & Developments
9.1. Recent Developments
9.2. Merger & Acquisition
9.3. Product Launches
10. Policy & Regulatory Landscape11. Israel Economic Profile12. Israel Contact Lenses Market: SWOT Analysis
13. Competitive Landscape (10 Companies)
13.1. Hanita lenses Ltd
13.2. Soflex Contact Lens Industries
13.3. ROTLEX Ltd.
13.4. Shamir Optical Industry Ltd.
13.5. Hoya Vision Care Israel Ltd.
13.6. Opticana Israel Ltd.
13.7. Acuvue (Johnson & Johnson)
13.8. Cooper Vision Inc
13.9. EyeYon Medical Ltd.
13.10. Synerg Eyes Inc.
14. Strategic Recommendations

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Hanita lenses Ltd.
  • Soflex Contact Lens Industries
  • Shamir Optical Industry Ltd.
  • Hoya Vision Care Israel Ltd.
  • Opticana Israel Ltd.
  • Acuvue (Johnson & Johnson)
  • Cooper Vision Inc.
  • EyeYon Medical Ltd.
  • Synerg Eyes Inc.

Table Information