U.S.: Contact Lense Market 2024

Contact Lense Market Size in the U.S.

After two years of growth, the U.S. contact lense market decreased by -27.8% to $X in 2022. Over the period under review, consumption, however, continues to indicate pronounced growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Contact Lense Production in the U.S.

In value terms, contact lense production surged to $X in 2022. Over the period under review, production faced a abrupt downturn. The pace of growth was the most pronounced in 2016 when the production volume increased by 365% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Contact Lense Exports

Exports from the U.S.

Contact lense exports from the United States declined dramatically to X units in 2022, with a decrease of -18% against 2021. Overall, exports showed a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of 17%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, contact lense exports expanded to $X in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 16% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Japan (X units) was the main destination for contact lense exports from the United States, with a 38% share of total exports. Moreover, contact lense exports to Japan exceeded the volume sent to the second major destination, the UK (X units), threefold. China (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-8.9% per year) and China (+30.2% per year).

In value terms, the largest markets for contact lense exported from the United States were Japan ($X), Canada ($X) and Germany ($X), together accounting for 58% of total exports. The UK, China, South Korea, Russia, Taiwan (Chinese), Australia, Hong Kong SAR, the United Arab Emirates and Singapore lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, China, with a CAGR of +29.8%, saw the highest growth rate of 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, picking up by 25% against the previous year. Over the last decade, it increased at an average annual rate of +5.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the United Arab Emirates ($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 Germany (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Contact Lense Imports

Imports into the U.S.

In 2022, after two years of decline, there was significant growth in purchases abroad of contact lenses, when their volume increased by 25% to X units. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 59% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, contact lense imports soared to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of contact lense to the United States, with a 46% share of total imports. Moreover, contact lense imports from Germany exceeded the figures recorded by the second-largest supplier, Ireland (X units), twofold. The third position in this ranking was held by Singapore (X units), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +44.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+3.9% per year) and Singapore (+55.3% per year).

In value terms, Germany ($X) constituted the largest supplier of contact lenses to the United States, comprising 41% of total imports. The second position in the ranking was held by Ireland ($X), with an 18% share of total imports. It was followed by Singapore, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +46.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+9.0% per year) and Singapore (+45.4% per year).

Import Prices by Country

The average contact lense import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Malaysia ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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