Report

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 available. 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
The growing prevalence of eye diseases in Malaysia is one of the key drivers of the contact lenses market in the country. With the increasing incidence of eye diseases such as myopia, hyperopia, astigmatism, and presbyopia, there has been a rise in the demand for vision correction products, including contact lenses. Contact lenses offer a convenient and effective way to correct vision problems, especially for those who do not wear glasses or are planning to undergo surgery. Additionally, contact lenses are more comfortable and provide better visual acuity than glasses, especially for those with higher prescriptions or complex eye conditions. 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. This recognizable increase in instances of various eye diseases prevailing in the country is expected to propel the growth of Malaysia contact lenses market in the futuristic period.
Affordable 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 available 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
Cosmetic contact lenses are typically used to enhance or alter the color of the eye. Colored lenses also known as cosmetic lenses come in a variety of colors and designs which enhances the natural color of the eyes, change the eye color entirely, or create a specific effect or pattern on the iris. The Malaysian contact lenses market is also benefiting from the increasing awareness about eye health and the convenience that contact lenses offer compared to traditional eyeglasses. 16mm Barbie Eyesland are the most common type of cosmetic lenses worn by majority of Malaysians across all the regions of the country. Increasing modernization and growing fashion trends in the country is propelling the growth of Malaysia contact lenses market in the forecast period.
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
With growing age, people are more likely to experience vision problems such as presbyopia, cataracts, and age-related macular degeneration. However, cataract is the most common disease prevailing among people in Malaysia at the age of 60-70 years old. 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. Increase in rate of geriatric population and various visual problems associated with them in their elder age is expected to propel the growth of Malaysia contact lenses market in the forecast period.
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. Based on application, the market is fragmented into corrective, therapeutic, cosmetic, and others. Based on distribution channel, contact lenses market is segmented into retail stores, online, and hospitals & clinics.
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.
Report Scope:
In this report, Malaysia contact lenses market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
� Malaysia Contact Lenses Market, By Modality:
o Reusable
o Disposable
� Malaysia Contact Lenses Market, By Design:
o Spherical
o Toric
o Multifocal
o Others
� Malaysia Contact Lenses Market, By Material Type:
o Silicone Hydrogel
o Hydrogel
o Gas Permeable
o Others
� Malaysia Contact Lenses Market, By Application:
o Corrective
o Therapeutic
o Cosmetic
o Others
� Malaysia Contact Lenses Market, By Distribution Channel:
o Retail Stores
o Online
o Hospitals & Clinics
Competitive Landscape
Company Profiles: Detailed analysis of the major companies is present in Malaysia contact lenses market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company�s specific needs. The following customization options are available for the report:
Company Information
� Detailed analysis and profiling of additional market players (up to five).