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Contact Lenses and Solutions in Asia Pacific

January 2020

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.

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Key findings

Asia Pacific represents half of global sales growth over 2014-2019

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

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 records the highest absolute value growth over 2014-2019

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 dominate, while internet retailing increases its share

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 expected to see continued growth

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.

Introduction

Scope
Key findings

Regional Overview

Asia Pacific is the fastest growing region for contact lenses and solutions
Rising awareness of the various benefits of contact lenses drives demand
Japan dominates the region’s sales
Emerging Asian countries are seeing sales grow
China, Japan and Taiwan are key markets for regional growth
Markets grew positively, except for South Korea and Philippines
China records the highest absolute value growth over 2014-2019
Optical shops continue to dominate the retail landscape
Non-store retailing is rapidly gaining share

Leading Companies and Brands

Top-ranked companies establish strong presence
Johnson & Johnson is by far the leading player in Asia Pacific
Top 10 companies rely heavily on sales in Japan, China and Taiwan
Some movements among the top 10 in the ranking

Forecast Projections

Leading markets will contribute to future regional growth
Asia Pacific expected to see healthy growth

Country Snapshots

China: market context
China: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
India: market context
India: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
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