Report Update Nov 1, 2024

Panama - Contact Lenses - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Contact Lense Market 2024

Contact Lense Market Size in Panama

In 2022, the Panamanian contact lense market increased by 31% to $X, rising for the second consecutive year after three years of decline. In general, consumption recorded a slight expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Contact Lense Exports

Exports from Panama

In 2022, the amount of contact lenses exported from Panama soared to X units, growing by 82% compared with the year before. Overall, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 122%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, contact lense exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X units) was the main destination for contact lense exports from Panama, with a 36% share of total exports. Moreover, contact lense exports to Ecuador exceeded the volume sent to the second major destination, Costa Rica (X units), twofold. The Dominican Republic (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador amounted to +90.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+120.2% per year) and the Dominican Republic (-8.1% per year).

In value terms, Ecuador ($X) remains the key foreign market for contact lenses exports from Panama, comprising 32% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 15% share of total exports. It was followed by the Dominican Republic, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled +72.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+94.8% per year) and the Dominican Republic (-10.7% per year).

Export Prices by Country

In 2022, the average contact lense export price amounted to $X per unit, growing by 36% against the previous year. Overall, the export price, however, showed a abrupt descent. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Curacao ($X per unit) and Ecuador ($X per unit), while the average price for exports to the Dominican Republic ($X per unit) and Venezuela ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (-2.9%), while the prices for the other major destinations experienced a decline.

Contact Lense Imports

Imports into Panama

In 2022, purchases abroad of contact lenses increased by 55% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 9,453%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, contact lense imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 7,986%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) was the main supplier of contact lense to Panama, with a 91% share of total imports. Moreover, contact lense imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+52.9% per year) and Mexico (+40.9% per year).

In value terms, the United States ($X) constituted the largest supplier of contact lenses to Panama, comprising 73% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+44.3% per year) and Mexico (+33.0% per year).

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, waning by -25.5% against the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 21%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Mexico ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the contact lense market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32504130 - Contact lenses

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023