The import of contact lenses to China experienced a significant increase from 403.04 thousand kilograms in 2013 to 1783.1 thousand kilograms in 2023. The annual growth was particularly strong from 2016 to 2017, with a 69.06% increase, but has since slowed down, with a year-on-year variation of just 5.07% in 2023. Over the past five years, the compound annual growth rate (CAGR) was 5.96%, indicating a moderate and steady increase in imports.
Looking forward, the forecast predicts the import volume reaching 2188.4 thousand kilograms by 2028, with an anticipated average annual growth rate (CAGR) of 3.22%. Total growth over the next five years is expected to be 17.19%.
Future trends to watch for include:
- Potential market saturation and its impact on growth rates
- Technological advancements in contact lenses improving product appeal
- Changes in market dynamics, such as domestic manufacturing capabilities and regulatory policies