Asia-Pacific: Contact Lense Market 2024

Contact Lense Market Size in Asia-Pacific

The Asia-Pacific contact lense market dropped slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then contracted modestly in the following year.

Contact Lense Production in Asia-Pacific

In value terms, contact lense production shrank slightly to $X in 2022 estimated in export price. Overall, production showed prominent growth. The growth pace was the most rapid in 2014 with an increase of 52%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Contact Lense Exports

Exports in Asia-Pacific

In 2022, exports of contact lenses in Asia-Pacific expanded rapidly to X units, with an increase of 11% on the previous year. Over the period under review, exports saw a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by 23%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, contact lense exports expanded significantly to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +5.8% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 23% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) was the major exporter of contact lenses in Asia-Pacific, with the volume of exports accounting for X units, which was approx. 52% of total exports in 2022. It was distantly followed by Malaysia (X units), South Korea (X units) and Singapore (X units), together generating a 41% share of total exports. The following exporters - Japan (X units), Hong Kong SAR (X units) and China (X units) - each amounted to a 4.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to contact lense exports from Taiwan (Chinese) stood at +13.0%. At the same time, Japan (+33.6%), Malaysia (+22.1%), South Korea (+21.5%), China (+12.2%) and Singapore (+2.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +33.6% from 2012-2022. By contrast, Hong Kong SAR (-1.4%) illustrated a downward trend over the same period. While the share of Malaysia (+11 p.p.) and South Korea (+6.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-1.9 p.p.), Hong Kong SAR (-4.8 p.p.) and Singapore (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Taiwan (Chinese) ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. South Korea, Hong Kong SAR, Japan and China lagged somewhat behind, together accounting for a further 16%.

Among the main exporting countries, Japan, with a CAGR of +24.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, falling by -2.3% against the previous year. Overall, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when the export price increased by 4.2%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Contact Lense Imports

Imports in Asia-Pacific

In 2022, approx. X units of contact lenses were imported in Asia-Pacific; surging by 5.1% against 2021. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, contact lense imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, imports attained the peak of $X, and then reduced slightly in the following year.

Imports by Country

Japan was the main importer of contact lenses in Asia-Pacific, with the volume of imports reaching X units, which was approx. 67% of total imports in 2022. It was distantly followed by China (X units), comprising a 20% share of total imports. Taiwan (Chinese) (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to contact lense imports into Japan stood at +6.4%. At the same time, China (+20.5%), Singapore (+9.5%) and Taiwan (Chinese) (+3.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.5% from 2012-2022. From 2012 to 2022, the share of China increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported contact lenses in Asia-Pacific, comprising 48% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Singapore, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to +1.0%. In the other countries, the average annual rates were as follows: China (+19.4% per year) and Singapore (+1.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, declining by -8.4% against the previous year. Overall, the import price saw a pronounced slump. The growth pace was the most rapid in 2016 an increase of 1.9%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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