Southern Asia: Contact Lense Market 2024

Contact Lense Market Size in Southern Asia

The South Asian contact lense market stood at $X in 2022, stabilizing at the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +84.5% against 2012 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Contact Lense Production in Southern Asia

In value terms, contact lense production amounted to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Contact Lense Exports

Exports in Southern Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of contact lenses, when their volume decreased by -11.1% to X units. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.6% against 2017 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 37% against the previous year. As a result, the exports attained the peak of X units, and then dropped in the following year.

In value terms, contact lense exports soared to $X in 2022. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 64%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

India dominates exports structure, resulting at X units, which was approx. 94% of total exports in 2022. It was distantly followed by Nepal (X units), committing a 5.3% share of total exports.

Exports from India increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Nepal (+34.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +34.1% from 2012-2022. Nepal (+5 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -4.8% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest contact lense supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was held by Nepal ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in India totaled +9.3%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, picking up by 44% against the previous year. In general, the export price continues to indicate a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while Nepal totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+18.4%).

Contact Lense Imports

Imports in Southern Asia

In 2022, the amount of contact lenses imported in Southern Asia surged to X units, growing by 16% against the previous year's figure. Over the period under review, imports posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 60%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, contact lense imports skyrocketed to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 74% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

India dominates imports structure, recording X units, which was near 97% of total imports in 2022. Nepal (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to contact lense imports into India stood at +11.1%. At the same time, Nepal (+37.7%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +37.7% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported contact lenses in Southern Asia, comprising 96% of total imports. The second position in the ranking was held by Nepal ($X), with a 1.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +9.0%.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, growing by 10% against the previous year. In general, the import price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by 34%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while Nepal totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+0.9%).

Source: IndexBox Platform

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