China: Contact Lense Market 2024

Contact Lense Market Size in China

In 2022, after ten years of growth, there was significant decline in the Chinese contact lense market, when its value decreased by -16.4% to $X. Overall, consumption, however, saw a significant increase. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Contact Lense Exports

Exports from China

In 2022, the amount of contact lenses exported from China dropped slightly to X units, reducing by -4.6% compared with 2021 figures. Over the period under review, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, contact lense exports skyrocketed to $X in 2022. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 65% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iraq (X units) was the main destination for contact lense exports from China, with a 42% share of total exports. Moreover, contact lense exports to Iraq exceeded the volume sent to the second major destination, Mexico (X units), tenfold. The third position in this ranking was taken by Italy (X units), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq totaled +75.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+169.0% per year) and Italy (+14.0% per year).

In value terms, Japan ($X), Iraq ($X) and Malaysia ($X) constituted the largest markets for contact lense exported from China worldwide, together accounting for 33% of total exports.

Japan, with a CAGR of +194.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average contact lense export price amounted to $X per unit, picking up by 27% against the previous year. Overall, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 125% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Libya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+31.6%), while the prices for the other major destinations experienced a decline.

Contact Lense Imports

Imports into China

In 2022, after eight years of growth, there was significant decline in supplies from abroad of contact lenses, when their volume decreased by -10.6% to X units. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 55%. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, contact lense imports fell significantly to $X in 2022. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, Ireland (X units) constituted the largest supplier of contact lense to China, with a 20% share of total imports. Moreover, contact lense imports from Ireland exceeded the figures recorded by the second-largest supplier, Puerto Rico (X units), twofold. The third position in this ranking was held by South Korea (X units), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Puerto Rico (+32.2% per year) and South Korea (+11.3% per year).

In value terms, Ireland ($X) constituted the largest supplier of contact lenses to China, comprising 20% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.3% share of total imports. It was followed by Malaysia, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from Ireland amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.3% per year) and Malaysia (+63.7% per year).

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, falling by -8.3% against the previous year. In general, the import price saw a slight downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Puerto Rico (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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