Republic of Korea: Contact Lense Market 2024

Contact Lense Market Size in Republic of Korea

The South Korean contact lense market stood at $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption showed a buoyant increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Contact Lense Production in Republic of Korea

In value terms, contact lense production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a resilient expansion. The growth pace was the most rapid in 2014 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Contact Lense Exports

Exports from Republic of Korea

In 2022, contact lense exports from South Korea shrank modestly to X units, approximately equating 2021 figures. In general, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at X units in 2021, and then dropped slightly in the following year.

In value terms, contact lense exports reached $X in 2022. Over the period under review, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Japan (X units), China (X units) and Thailand (X units) were the main destinations of contact lense exports from South Korea, together comprising X% of total exports. Saudi Arabia, Indonesia, Germany, Hong Kong SAR, Russia, Malaysia, the United Arab Emirates, Kuwait, Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for contact lense exported from South Korea were Japan ($X), China ($X) and Thailand ($X), together accounting for X% of total exports. Saudi Arabia, Indonesia, Germany, Hong Kong SAR, Russia, Malaysia, the United Arab Emirates, Kuwait, Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average contact lense export price stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per unit) and Russia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Kuwait ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Contact Lense Imports

Imports into Republic of Korea

Contact lense imports into South Korea expanded notably to X units in 2022, picking up by X% against the year before. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, contact lense imports stood at $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), Ireland (X units) and Hungary (X units) were the main suppliers of contact lense imports to South Korea, together comprising X% of total imports. The UK, Germany, Singapore and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest contact lense suppliers to South Korea were the United States ($X), Ireland ($X) and Hungary ($X), together accounting for X% of total imports. The UK, Germany, Singapore and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average contact lense import price stood at $X per unit in 2022, declining by X% against the previous year. In general, the import price saw a abrupt downturn. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Hong Kong SAR ($X per unit), while the price for Singapore ($X per unit) and Hungary ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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