Contact lens industry is recession-proof

GFELLER contact lens machine / by bdopudja

Malaysia is among the top five contact lens markets in Asia last year, recording 11 per cent growth in terms of value share, says GfK Asia.

In a statement today, GfK Asia said Hong Kong and Singapore grew by 12 per cent and 10 per cent respectively in terms of value share.

“The industry performed well last year to register a healthy 12 per cent growth across the five combined markets — Hong Kong, South Korea, Singapore, Malaysia and Taiwan,” it said.

Its regional commercial director, Stanley Kee, said the fact that the contact lens industry managed to perform well even during the recession year of 2009 proved that it generally thrived in all kinds of economic situations.

“2010 was a good year overall, so it comes as no surprise that the industry fared well and continued on its upward growth trend,” he said.

Kee said experiences had proven that the contact lens industry was, to some extent, recession-resistant as it had been able to prevail in spite of challenging economic situations.

“The current favourable economy will spur further growth in the industry, which we expect will yet again hit double-digit growth in 2011,” he said.

– Bernama