Malaysia Contact Lenses Market By Modality (Reusable and Disposable), By Design (Spherical, Toric, Multifocal, and Others), By Material Type (Silicone Hydrogel, Hydrogel, Gas Permeable, and Others), By Application (Corrective, Therapeutic, Cosmetic, and Others), By Distribution Channel (Retail Stores, Online, Hospitals, & Clinics), By Region, Competition, Forecast, & Opportunities, 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia Contact Lenses Market By Modality (Reusable and Disposable), By Design (Spherical, Toric, Multifocal, and Others), By Material Type (Silicone Hydrogel, Hydrogel, Gas Permeable, and Others), By Application (Corrective, Therapeutic, Cosmetic, and Others), By Distribution Channel (Retail Stores, Online, Hospitals, & Clinics), By Region, Competition, Forecast, & Opportunities, 2028
Contact lenses, or simply contacts, are thin lenses placed directly on the surface of the eyes. Contact lenses help to correct refractive errors and perform this function by adjusting the focusing power of the eye's cornea and lens. Contact lenses are made up of various kind of plastics and can be bifurcated into two categories hard contact lenses and soft contact lenses. Some of the common contact lenses which come under the variety of soft contact lenses include daily wear contacts, extended wear contacts, toric contacts, colored contacts, and decorative contacts. Most extended wear contact lenses are made up of silicone hydrogel which combines the water absorbing plastic of soft lenses with silicone. The contact lenses market in Malaysia is a growing industry with a range of local and international brands found at. In Malaysia, it is estimated that 6-7% of the population wear contact lenses and most of them are in the 20-30 years age group. CooperVision is one of the world's leading contact lens companies, serving opticians and lens wearers in over 130 countries. Growing prevalence of eye diseases such as cataract and glaucoma are expected to register an impressive growth to Malaysia contact lenses market in the forecast period. Various types of contact lenses used to correct the vision of people by curing various kind of eye diseases in the country is driving the growth of the market. Moreover, nominal, and affordable price of contact lenses manufactured in the country is further expected to propel the growth of contact lenses market in Malaysia. Growing modernization and rising demand of cosmetic lenses among various parts of the country is also expected to bolster the growth of Malaysia contact lenses market in the forecast period. According to Health Care Index, Malaysia is ranked at 30th position due to increase in development and growing number of facilities provided by the healthcare system of the country. Rising technological advancements under healthcare sector of the country and innovation in treatment of various eye related diseases in the country is further expected to boost the growth of contact lenses market in Malaysia. Growth in geriatric population with every passing year across all the regions of the country is further expected to propel the growth of Malaysia contact lenses market during the futuristic period.
Growing Prevalence of Eye Diseases
According to research conducted by the National Eye Survey Malaysia, 15,000 individuals were examined for blindness in 2018, and 58.6 per cent of them were diagnosed with untreated cataracts that could have been prevented if they had been detected earlier. Moreover, as per the report published by The Star in 2022, growing prevalence of eye diseases in the country have resulted in diagnosis of around 1.2% of total population in Malaysia with blindness. Among various ophthalmic diseases, cataract accounted for 58.6% of total cases, followed by 10.4% of diabetic retinopathy and 6.6% of glaucoma cases.
Download Free Sample ReportAffordable Cost of Contact Lenses
The affordable cost of contact lenses is a major factor driving the Malaysia contact lens market. With the increasing availability of cheaper contact lenses now, more people can afford them and therefore are more likely to use them as a vision correction option. Additionally, contact lenses offer many benefits over traditional eyeglasses, such as improved peripheral vision, increased comfort, and the ability to participate in sports and other physical activities without fear of losing or damaging their glasses. Biofinity, Air Optix HydraGlyde and Ultra contact lenses are some of the monthly contact lenses which are commonly found at at low cost in Malaysia. Moreover, the affordability and convenience of contact lenses, especially disposable lenses, has led to increased demand in Malaysia, fueling the growth of the country's contact lens market.
Growth in Demand of Cosmetic Lenses
Rise in Technological Advancements
The growing technological development has had a significant impact on the Malaysia contact lenses market. Technological advancements have led to the development of contact lenses that are more comfortable, convenient, and safe for users, leading to increased demand for these products in the market. For instance, the development of silicone hydrogel materials has revolutionized the contact lens industry. These materials allow for more oxygen to reach the cornea, reducing the risk of eye infections and other complications associated with traditional contact lenses. In 2021, Johnson & Johnson Inc. has developed its most advanced intraocular lens using its TECNIS platform which is a proprietary combination of materials and design for intraocular lenses. The TECNIS Synergy is a presbyopia-correcting intraocular lens (PCIOL) that combines the best of extended depth-of-focus and multifocal technologies to deliver the widest range of continuous vision with the best near vision among leading PCIOLs. Moreover, growth in technological advancements to improve the properties of contact lenses using various innovative techniques is expected to bolster the growth of Malaysia contact lenses market in the forecast period.
Increase in Geriatric Population
According to data released by The Malaysian Reserve, Malaysia is officially classified as an aging country as the population aged sixty-five and over is expected to reach 7.3% of the country's population by 2023. In addition, the Malaysian Department of Statistics (DoSM) predicts that Malaysia's aging population is growing faster than expected, with more than 15% of the population is predicted to increase over sixty-five by 2050.
Malaysia contact lenses market is segmented based on modality, design, material type, application, distribution channel, company, and region. In terms of modality, the contact lenses market is categorized into reusable and disposable. Based on design, the market is divided into spherical, toric, multifocal, and others. On basis of material type, contact lenses market is segmented into silicone hydrogel, hydrogel, gas permeable, and others
Market Players
Johnson & Johnson Sdn. Bhd., Ciba Vision Johor Sdn. Bhd., Bausch & Lomb (Malaysia) Sdn. Bhd., Oculus (M) Sdn. Bhd., and CooperVision Contact Lens Malaysia Sdn. Bhd.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, Volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Modality Design Material Type Application Distribution Channel |
| Regional Scope | East Coast Region, Southern Region, Northern Region, East Region, and Central Region |
| Key Companies Profiled | Johnson & Johnson Sdn. Bhd., Ciba Vision Johor Sdn. Bhd., Bausch & Lomb (Malaysia) Sdn. Bhd., Oculus (M) Sdn. Bhd., and CooperVision Contact Lens Malaysia Sdn. Bhd. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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