United Kingdom: Contact Lense Market 2024

Contact Lense Market Size in the UK

In 2022, the UK contact lense market decreased by -4.2% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, saw a slight downturn. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Contact Lense Production in the UK

In value terms, contact lense production shrank slightly to $X in 2022 estimated in export price. Overall, production saw a mild curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by 7.1% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Contact Lense Exports

Exports from the UK

In 2022, shipments abroad of contact lenses decreased by -24.2% to X units, falling for the fourth year in a row after two years of growth. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 22% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, contact lense exports shrank rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for contact lense exports from the UK, with a 28% share of total exports. Moreover, contact lense exports to Belgium exceeded the volume sent to the second major destination, Spain (X units), twofold. Japan (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+6.9% per year) and Japan (+12.6% per year).

In value terms, Spain ($X), the United States ($X) and Belgium ($X) constituted the largest markets for contact lense exported from the UK worldwide, with a combined 41% share of total exports. Japan, Germany, Denmark, Australia, Russia, Hungary, Ireland, Taiwan (Chinese), China and South Korea lagged somewhat behind, together comprising a further 40%.

Among the main countries of destination, China, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average contact lense export price amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 2.3%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Belgium ($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 Hungary (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Contact Lense Imports

Imports into the UK

In 2022, purchases abroad of contact lenses decreased by -18.3% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, contact lense imports contracted markedly to $X in 2022. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 9.2%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Hungary (X units), the United States (X units) and Malaysia (X units) were the main suppliers of contact lense imports to the UK, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Hungary ($X) and Malaysia ($X) were the largest contact lense suppliers to the UK, with a combined 53% share of total imports.

Malaysia, with a CAGR of +40.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, declining by -20.4% against the previous year. Overall, the import price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 an increase of 10% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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