Cyprus: Contact Lens Market 2020

Contact Lens Market Size in Cyprus

The revenue of the contact lens market in Cyprus amounted to $X in 2018, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, contact lens consumption continues to indicate a skyrocketing increase. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Cyprus contact lens consumption peaked in 2018 and is likely to see steady growth in the near future.

Contact Lens Exports

Exports from Cyprus

In 2018, the amount of contact lenses exported from Cyprus totaled X units, rising by X% against the previous year. Over the period under review, contact lens exports continue to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% year-to-year. Cyprus exports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, contact lens exports stood at $X in 2018. In general, contact lens exports continue to indicate a deep descent. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. In that year, contact lens exports reached their peak of $X. From 2011 to 2018, the growth of contact lens exports failed to regain its momentum.

Exports by Country

Ireland represented the major exporter of contact lenses in the world, with the volume of exports resulting at X units, which was approx. X% of total exports in 2018. It was distantly followed by Germany (X units), the UK (X units), Taiwan, Chinese (X units), the U.S. (X units), Singapore (X units) and Hungary (X units), together generating a X% share of total exports. Malaysia (X units) held a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to contact lens exports from Ireland stood at +X%. At the same time, Hungary (+X%), Germany (+X%), Taiwan, Chinese (+X%), Singapore (+X%), Malaysia (+X%), the UK (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Ireland (+X p.p.), Germany (+X p.p.), Taiwan, Chinese (+X p.p.), the UK (+X p.p.), Hungary (+X p.p.), Singapore (+X p.p.), the U.S. (+X p.p.) and Malaysia (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ireland ($X), the UK ($X) and the U.S. ($X) were the countries with the highest levels of exports in 2018, together comprising X% of total exports. Germany, Singapore, Malaysia, Taiwan, Chinese, Hungary and Cyprus lagged somewhat behind, together accounting for a further X terms of the main exporting countries, Taiwan, Chinese recorded the highest rates of growth with regard to exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the contact lens export price in Cyprus amounted to $X per unit, declining by -X% against the previous year. In general, the contact lens export price continues to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2012 an increase of X% y-o-y. In that year, the export prices for contact lenses attained their peak level of $X per unit. From 2013 to 2018, the growth in terms of the export prices for contact lenses failed to regain its momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Malaysia ($X per unit), while Hungary ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Malaysia, while the other leaders experienced a decline in the export price figures.

Contact Lens Imports

Imports into Cyprus

In 2018, the contact lens imports into Cyprus amounted to X units, growing by X% against the previous year. Over the period under review, contact lens imports continue to indicate an extraordinary expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, contact lens imports attained their maximum in 2018 and are likely to see steady growth in the near future.

In value terms, contact lens imports amounted to $X in 2018. Over the period under review, the total imports indicated a remarkable increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, contact lens imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% year-to-year. In that year, contact lens imports reached their peak of $X. From 2015 to 2018, the growth of contact lens imports remained at a lower figure.

Imports by Country

In 2018, Japan (X units), distantly followed by the U.S. (X units), the UK (X units), China (X units), Belgium (X units) and Singapore (X units) represented the main importers of contact lenses, together making up X% of total imports. The following importers - Italy (X units), South Korea (X units), Taiwan, Chinese (X units), Russia (X units) and France (X units) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Belgium, while the other leaders experienced more modest paces of growth.

In value terms, the largest contact lens importing markets into Cyprus were Japan ($X), the U.S. ($X) and the UK ($X), with a combined X% share of total imports. Singapore, China, Italy, France, South Korea, Belgium, Russia, Taiwan, Chinese and Cyprus lagged somewhat behind, together accounting for a further X terms of the main importing countries, China recorded the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the contact lens import price in Cyprus amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the contact lens import price, however, continues to indicate a drastic shrinkage. The pace of growth appeared the most rapid in 2008 when the import price increased by X% against the previous year. In that year, the import prices for contact lenses attained their peak level of $X per unit. From 2009 to 2018, the growth in terms of the import prices for contact lenses remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform