Contact Lens Market in Malaysia Grew 16% to Over USD 52 million

Increasing number of contact lens users in Malaysia grew the overall contact lens industry last year by 16 percent in value and 7 percent in volume. GfK Malaysia retail audit in 2010 posted retail sales of some 20.8 million pieces of contact lens, bringing the value of the industry to USD 52.2 million.

Akin to many other consumer markets where year-end period usually register stronger sales, the contact lens industry in Malaysia also recorded its best performance in the last quarter of 2010.

According to GfK findings, contact lens sales peaked in the fourth quarter where its USD14.2 million retail earnings saw a nine percent growth in sales over quarter three, and more than five percent over quarter four of 2009.

“Quarter four’s greatly improved performance over quarter three is partially due to weak sales in September following the Malaysian government’s move to clampdown on unregistered optometrists’ dispensing activities in chain retailers,” explained Ms Jennifer Chan, General Manager of GfK Malaysia. “The insufficient number of optometrists catering to the growing number of retail chain stores affected sales to some extent that month. However, we soon saw a remarkable recovery in October as sales activities resumed with greater intensity as a result of pent up demands for contact lens, which helped closed sales on a high in 2010.”

The good performance of the contact lens market in 2010 was boosted by the growing popularity of colored contact lens and Silicone Hydrogel, both of which reported considerable growths.

“GfK findings last year buy fluconazole online no prescription registered spikes in the colored lens category of 30 percent in units and 36 percent in value, and sales were especially strong around the holiday season during the fourth quarter,” observed Ms Chan. “These days, there are plenty of options for low priced imported colored lens from countries such as Korea, Taiwan and China and these have made colored lens increasingly affordable, not to mention fashionable amongst young urban people.”

Despite more brands being launched in recent years, major players dominating the market continue to be reputable and long established American brands with their trusted and technologically advanced products, such as Silicone Hydrogel lens. Judging by the category’s exponential value growth of 61 percent in 2010, it is apparent that users in Malaysia are becoming more and more receptive towards Silicone Hydrogel in spite of its higher pricing. Some 3 million pieces were sold in 2010—1.8 million more units than 2009, signifying a 148 percent growth. Silicone Hydrogel now takes up 21 percent of the overall contact lens sales pie, compared to 15 percent in 2009.

“Silicone Hydrogel is the segment to watch out for as we foresee nothing less than a double digit growth in this segment,” said Ms Chan. “As the industry continues with its aggressive quest to educate and raise awareness of Silicone Hydrogel and its benefits, we predict that this product will gain widespread acceptance and usage, that will further drive strong performance and propel the overall industry,” Ms Chan concluded.