Lithuania: Contact Lense Market 2024

Contact Lense Market Size in Lithuania

The Lithuanian contact lense market soared to $X in 2022, jumping by 485% against the previous year. In general, consumption continues to indicate a measured increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Contact Lense Production in Lithuania

In value terms, contact lense production soared to $X in 2022 estimated in export price. In general, production, however, recorded a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 2,998%. Contact lense production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Contact Lense Exports

Exports from Lithuania

In 2022, shipments abroad of contact lenses decreased by -3.4% to X units, falling for the second consecutive year after six years of growth. In general, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 74% against the previous year. Over the period under review, the exports attained the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, contact lense exports skyrocketed to $X in 2022. Overall, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2015 when exports increased by 83%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The Czech Republic (X units) was the main destination for contact lense exports from Lithuania, accounting for a 43% share of total exports. Moreover, contact lense exports to the Czech Republic exceeded the volume sent to the second major destination, Slovakia (X units), threefold. The third position in this ranking was held by Belarus (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic stood at +68.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+48.9% per year) and Belarus (+45.8% per year).

In value terms, the largest markets for contact lense exported from Lithuania were Belarus ($X), the Czech Republic ($X) and Slovakia ($X), with a combined 63% share of total exports.

The Czech Republic, with a CAGR of +59.5%, saw the highest rates of growth with regard to 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

The average contact lense export price stood at $X per unit in 2022, surging by 76% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, contact lense export price increased by +85.7% against 2020 indices. The export price peaked at $X per unit in 2015; afterwards, it flattened through to 2022.

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 Belarus ($X per unit), while the average price for exports to the UK ($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 the Netherlands (+12.6%), while the prices for the other major destinations experienced a decline.

Contact Lense Imports

Imports into Lithuania

In 2022, the amount of contact lenses imported into Lithuania soared to X units, surging by 37% compared with the previous year. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 104%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, contact lense imports soared to $X in 2022. Over the period under review, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X units), Germany (X units) and the UK (X units) were the main suppliers of contact lense imports to Lithuania, together accounting for 87% of total imports. Italy, the Czech Republic and Latvia lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +78.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of contact lenses to Lithuania, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Italy, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.1% per year) and Italy (+86.3% per year).

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, surging by 24% against the previous year. Over the period under review, the import price, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 32%. Over the period under review, average import prices reached the peak figure 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform