Contact Lenses - Sierra Leone

Sierra Leone

In 2024, the revenue generated by the Contact Lenses market in Sierra Leone amounts to US$2.12m.
It is predicted to experience an annual growth rate of 9.65% (CAGR 2024-2029).
When compared to the global market, in the United States is the leading revenue generator with a projected revenue of US$6,081m in 2024.
In terms of per capita revenue, in Sierra Leone is expected to generate US$0.24 per person in 2024.
By 2029, the volume of the Contact Lenses market in Sierra Leone is expected to reach 2.5m pieces.
It is projected to witness a volume growth of 0.4% in 2025.
Furthermore, the average volume per person in this market segment is anticipated to amount to 0.3pieces in 2024.
Despite limited access to eye care in Sierra Leone, the demand for contact lenses is increasing among those seeking visual correction.

Key regions: United Kingdom, China, India, Europe, Germany

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Analyst Opinion

Annual growth in the global eyewear market is expected to be robust over the next five years. Shifting consumer megatrends, transforming market structures and technological innovations are key drivers of this growth. Particularly, ageing is one of the most significant global demographic factors impacting eye care as the need for vision correction increases and becomes more complex as a person grows older. Additionally, increasing screen time especially among youngsters might cause more serious effects than previously thought, supporting the constant demand for preventive eye care.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on eyewear products, which include spectacle lenses, sunglasses, eyewear frames, and contact lenses that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Eyewear market, which is projected to grow steadily. The main drivers are GDP per capita, consumer spending per capita, and healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).