Value of contact lens industry soars

Value of contact lens industry soars

By Alexa Kaczka

The value of the contact lens industry has soared in five Asian markets and has now reached US$296 million (£190 million), it has been revealed.

According to GfK Asia, the industry across Taiwan, South Korea, Singapore, Hong Kong, and Malaysia was boosted significantly in the first half of 2010 thanks to rapid adoption among the public.

Stanley Kee, regional commercial director at GfK Asia, said that Taiwan was the "key contributor" in terms of contact lens unit sales, with 40 per cent, while South Korea occupied the biggest proportion of the value of sales, with 42 per cent in the first six months of the year.

"Overall, Taiwan has the biggest market of contact lens users but South Korea remains the major contributor in sales value due to the fact that the average price of contact lens is higher in the country," he said.

According to the Companies and Markets Contact Lenses in Sweden report, people are continuing to ditch their reading glasses in favour of wearing contact lenses, consistent with previous years of adoption.

by Martin Burns

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