At this time last year the economy was in crisis. Industries across the board, including the contact lens industry, were braced for a year of financial hardship. While many industries had significantly down years in 2009, the contact lens market grew by 2% to 4%, depending on which metric one chooses.
The fact that growth could take place under very difficult economic circumstances demonstrates that the contact lens market, while certainly not recession-proof, is, to an extent, recession-resistant. We attribute this to the important role contact lenses play in people’s lives—a role people are not willing to give up, even when money is tight.
Now, as we move into 2010, we expect to see more rapid growth, driven by daily disposable lenses, multifocal lenses, and newer materials. Log In or Register to continue reading the State of the Contact Lens Industry post.