Western Africa: Contact Lense Market 2024

Contact Lense Market Size in Western Africa

The West African contact lense market reduced to $X in 2022, falling by -1.6% against the previous year. In general, consumption, however, saw a strong expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Contact Lense Production in Western Africa

In value terms, contact lense production declined to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 106%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Contact Lense Exports

Exports in Western Africa

After four years of growth, overseas shipments of contact lenses decreased by -5.4% to X units in 2022. Overall, exports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 79% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, contact lense exports dropped slightly to $X in 2022. In general, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 when exports increased by 72% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, recording X units, which was near 96% of total exports in 2022. Guinea (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to contact lense exports from Ghana stood at -7.3%. At the same time, Guinea (+45.6%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +45.6% from 2012-2022. Guinea (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -1.7% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest contact lense supplier in Western Africa, comprising 88% of total exports. The second position in the ranking was taken by Guinea ($X), with an 8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled -8.3%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, rising by 2.4% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 125%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per unit), while Ghana stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+13.9%).

Contact Lense Imports

Imports in Western Africa

In 2022, approx. X units of contact lenses were imported in Western Africa; jumping by 29% against the previous year's figure. In general, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 114% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, contact lense imports rose slightly to $X in 2022. Over the period under review, imports saw perceptible growth. The growth pace was the most rapid in 2013 when imports increased by 85% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria was the major importing country with an import of around X units, which reached 58% of total imports. Mali (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Sierra Leone (7.1%) and Guinea (5.2%). Ghana (X units), Togo (X units) and Senegal (X units) held a little share of total imports.

Nigeria was also the fastest-growing in terms of the contact lenses imports, with a CAGR of +80.4% from 2012 to 2022. At the same time, Guinea (+46.5%), Togo (+27.6%), Sierra Leone (+25.0%), Senegal (+9.7%) and Mali (+6.4%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. From 2012 to 2022, the share of Nigeria, Guinea, Sierra Leone and Togo increased by +58, +4.6, +3 and +2.1 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported contact lenses in Western Africa, comprising 36% of total imports. The second position in the ranking was held by Mali ($X), with a 13% share of total imports. It was followed by Togo, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +50.5%. In the other countries, the average annual rates were as follows: Mali (-10.2% per year) and Togo (+16.3% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, declining by -21% against the previous year. In general, the import price saw a deep reduction. The pace of growth was the most pronounced in 2017 an increase of 39%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Togo ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (-4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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