Global Contact Lense Market 2024

Contact Lense Market Size

The global contact lense market declined modestly to $X in 2022, standing approx. at the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.9% against 2017 indices. Over the period under review, the global market attained the maximum level at $X in 2021, and then declined slightly in the following year.

Contact Lense Production

In value terms, contact lense production dropped modestly to $X in 2022 estimated in export price. In general, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 52% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Contact Lense Exports

Exports

In 2022, the amount of contact lenses exported worldwide rose remarkably to X units, growing by 6.4% against the previous year. Overall, exports saw a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 25%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, contact lense exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 12%. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

In 2022, Ireland (X units), distantly followed by Germany (X units), Taiwan (Chinese) (X units), the UK (X units), the United States (X units) and Malaysia (X units) represented the key exporters of contact lenses, together constituting 87% of total exports. Hungary (X units) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +32.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest contact lense supplying countries worldwide were Germany ($X), Ireland ($X) and the United States ($X), with a combined 51% share of global exports. Taiwan (Chinese), Malaysia, the UK and Hungary lagged somewhat behind, together accounting for a further 20%.

Taiwan (Chinese), with a CAGR of +12.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average contact lense export price amounted to $X per unit, reducing by -8.1% against the previous year. In general, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 4.3%. The global export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the other global leaders experienced a decline in the export price figures.

Contact Lense Imports

Imports

In 2022, approx. X units of contact lenses were imported worldwide; growing by 2.3% compared with 2021. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +15.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 13%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, contact lense imports amounted to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Japan represented the main importer of contact lenses in the world, with the volume of imports accounting for X units, which was approx. 34% of total imports in 2022. Germany (X units) held the second position in the ranking, followed by China (X units), the United States (X units) and the UK (X units). All these countries together held approx. 41% share of total imports. Italy (X units) and Taiwan (Chinese) (X units) held a relatively small share of total imports.

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%), the United States (+11.3%), Italy (+4.7%), Germany (+4.4%) and Taiwan (Chinese) (+3.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +20.5% from 2012-2022. The UK experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and the United States increased by +7.5 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), the United States ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, together comprising 43% of global imports. China, Italy, the UK and Taiwan (Chinese) lagged somewhat behind, together comprising a further 15%.

In terms of the main importing countries, China, with a CAGR of +19.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average contact lense import price stood at $X per unit in 2022, leveling off at the previous year. Over the period under review, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 2.5% against the previous year. Global import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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