Asia Pacific is the fastest growing region for contact lenses and solutions. Rising income levels, growing healthcare spending and significant investment by leading companies have improved access to preventative eye care and boosted consumer spending. Also, a rise in myopia and ageing populations are leading to more people needing eyewear, including contact lenses. This report provides a regional overview, highlighting key markets, leading players and forecasts to 2024.
Asia Pacific is the second largest region in terms of contact lenses and solutions sales, generating value sales of USD6,882 million in 2019. The region is also the fastest growing, with absolute value growth of USD973 million over 2014-2019, representing half of global sales growth.
Japan dominates the region’s sales, representing 50% of total regional sales of contact lenses and solutions in 2019. Despite the maturity of the market and a population decline, Japan continues to see growth in sales of contact lenses and solutions. Daily disposable lenses is a key driver of overall growth in Japan, while cosmetic lenses remain popular among young consumers.
China posted the highest absolute value growth over 2014-2019, driven by economic growth, rising income levels, growing healthcare spending and substantial investment by leading companies. With increased health awareness, contact lenses are being preferred by local consumers who are increasingly exercising regularly, because contact lenses involve less of a risk of eye injury than eyeglasses during physical activity.
Optical shops is still the leading channel in Asia Pacific, as consumers prefer receiving a complete service, from eye examination to consultation, by qualified opticians. Internet retailing attracts consumers by offering convenience, as well as discounts and special offers.
Asia Pacific is expected to continue growing over 2019-2024. China, Japan and Taiwan will be the leading contributors to the region’s absolute value sales growth, while India will see the fastest year-on-year growth.
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