Sri Lanka: Contact Lense Market 2025

Contact Lense Market Size in Sri Lanka

The Sri Lankan contact lense market contracted to $X in 2022, declining by -8.1% 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). Over the period under review, consumption posted a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Contact Lense Exports

Exports from Sri Lanka

After four years of decline, shipments abroad of contact lenses increased by 88% to X units in 2022. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 306%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, contact lense exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 94% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for contact lense exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to -9.0%.

In value terms, Maldives ($X) emerged as the key foreign market for contact lenses exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled -5.3%.

Export Prices by Country

The average contact lense export price stood at $X per unit in 2022, falling by -5.9% against the previous year. Overall, the export price, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2014 an increase of 296%. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Seychelles amounted to +24.3% per year.

Contact Lense Imports

Imports into Sri Lanka

In 2022, approx. X units of contact lenses were imported into Sri Lanka; rising by 15% compared with the previous year. In general, imports recorded a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 80% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, contact lense imports fell significantly to $X in 2022. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 162% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

China (X units), the United States (X units) and Singapore (X units) were the main suppliers of contact lense imports to Sri Lanka, together accounting for 74% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +102.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest contact lense suppliers to Sri Lanka were the United States ($X), Singapore ($X) and Israel ($X), together accounting for 74% of total imports. Ireland, India, South Korea, China and Hong Kong SAR lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, China, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, with a decrease of -31.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 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 Israel ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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