Malaysia Eye Care Market, By Product Type (Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Eye Vitamins, and Others), By Coating (Anti-Glare, UV, and Others), By Lens Material (Normal Glass, Polycarbonate, Trivex, and Others), By Distribution Channel (Retail Stores, E-Commerce, Clinics, and Hospitals), By Region, Competition, Forecast and Opportunities, 2028

Malaysia eye care market is anticipated to grow significantly in the projected period of 2028. This can be attributed to several factors, including an aging population, increased prevalence of eye diseases, and greater awareness of the importance of eye health. As a result, the demand for eye care services and products has risen, creating a thriving market for Malaysia eye care market. One of the key drivers of growth in the Malaysian eye care market is the aging population. As people age, the risk of developing eye diseases such as cataracts, glaucoma, and age-related macular degeneration increases. According to the World Bank, in 2020, more than 7% of the population was over 65, which met the standard definition of an "ageing society" used internationally. Malaysia will be an "aged society" by 2044, where 14% of the population is predicted to be over 65 and by 2056. Malaysia will be a "super-aged society" with more than 20% of the population being over 65. Another factor contributing to the growth of the Malaysian eye care market is the increased prevalence of eye diseases. In addition to age-related eye diseases, there has been a rise in the incidence of myopia among children and young adults in Malaysia. In addition to an aging population and increased prevalence of eye diseases, greater awareness of the importance of eye health is also driving growth in the Malaysian eye care market. With the rise of social media and other digital channels, information about eye health and the importance of regular eye exams is more widely available than ever before. This has led to an increase in the number of people seeking out eye care services and products, including glasses, contact lenses, and corrective surgery. The Malaysian eye care market is also attracting investment from domestic and international companies. In recent years, several multinational companies have entered the market, bringing with them advanced technologies and products leading to the expansion of the Malaysian eye care market in the forecast period. In addition to the factors mentioned above, the increasing disposable income of the population has also contributed to the growth of the eye care market in Malaysia. With higher disposable incomes, people are more likely to spend money on eye care services and products, such as contact lenses, glasses, and eye drops which is expected to grow the Malaysian eye care market.

Rising Prevalence of Eye Diseases is Booming the Malaysia Eye Care Market

The growing prevalence of eye diseases is one of the major driving forces behind the growth of the Malaysia eye care market. Through the prolonged period of morbidity, diseases that cause visual impairment are known to significantly change the person's quality of life. The primary causes of eye problems have been identified as geographic, economic, social, and political variables of the susceptible population, environmental risks, and trauma. Numerous factors within the population, including age and gender, affect the prevalence of eye disorders. As the population ages and lifestyles become more sedentary, the incidence of eye diseases such as cataracts, glaucoma, and age-related macular degeneration (AMD) is increasing, which results in the growth of The Malaysian eye care market. According to the National Library of Medicines, in 2022, the prevalence of cataract among older people was 26.8%. Premature retinopathy, diabetic retinopathy, glaucoma, cataract, and refractive errors are the most frequent causes of blindness and impaired vision. There are numerous treatment options, including surgical procedures such corneal transplantation and osteo-ordonto-keratoprosthetics as well as eyeglasses, contact lenses, low vision aids, and osteo-ordonto-keratoprosthetics. The adoption of computer-based technologies, such as voice browsers that help the blind learn faster and smart phones with braille keyboards, is another way to assist these people. The Ministry of Education operates special schools for blind children to provide educational facilities and rehabilitation services for the blind. The Malaysian Association for the Blind offer’s facilities for vocational training programs, skill development for financial support for oneself and one's family, and assistance to parents of blind children. The rise in eye diseases has created a significant demand for eye care services and products in Malaysia. Surgical procedures and treatments for eye diseases are also the growing segments of the Malaysia eye care market. Cataract surgery is the most performed surgical procedure in Malaysia, accounting for a significant portion of the revenue generated. Other surgical procedures such as LASIK and corneal transplantation are also becoming more popular as people seek to correct refractive errors or treat more complex eye diseases. The Malaysia eye care market is highly competitive, with both local and international players competing for market share leading to the growth of the Malaysian eye care market.

Rising Technological Advancements and Digitalization Leads to Increased Demand for Eye Care

The eye care market in Malaysia has been witnessing significant growth in recent years. One of the key drivers behind this growth is the increased digitalization and changing lifestyle of Malaysians. With the rise of technology and the internet, people are spending more time on digital devices, which has led to a surge in eye-related problems. This has prompted a rise in demand for eye care products and services in the country. One of the major reasons for the increased demand for eye care products and services in Malaysia is the changing lifestyle of Malaysians. With the advent of technology, people are spending more time in front of screens, be it smartphones, tablets, laptops, or televisions. This prolonged exposure to screens has led to a significant increase in eye-related problems such as dry eyes, eye strain, and blurry vision, among others which results in the growth of the Malaysian eye care market. The digitalization of the eyewear industry has also played a significant role in the growth of the eye care market in Malaysia. With the rise of e-commerce platforms, it has become easier for people to purchase eyewear online. This has led to an increase in the number of online optical stores, offering a wide range of eyewear products and services at competitive prices. Technological advancements in the eye care industry have also contributed to the growth of the market in Malaysia. The use of advanced technology such as artificial intelligence and machine learning in the diagnosis and treatment of eye-related problems has improved the accuracy and efficiency of eye care services. This has led to a higher demand for advanced eye care products and services. According to the International Trade Administration, the digital economy’s contribution to the Malaysia’s GDP is 22.6% which is expected to rise by 25.5% by 2025.

Rising Geriatric Population is Expanding the Malaysian Eye Care Market

The geriatric population in Malaysia is growing rapidly and this demographic shift is driving the demand for eye care services in the country. As people age, their risk of developing vision problems such as cataracts, age-related macular degeneration, and glaucoma increases. This has led to an increase in demand for eye care services in Malaysia. The rise in the geriatric population has also led to an increase in demand for eyewear such as prescription glasses, contact lenses, and reading glasses leading to the expansion of the Malaysian eye care market.

Recent Development

• In November 2019, CooperVision announced approval of its innovative MiSight 1 day contact lens by U.S. Food and Drug Administration (FDA). This daily wear and single use contact lens is the first and only FDA-approved product1 clinically proven to slow the progression of myopia (nearsightedness or short-sightedness) when initially prescribed for children 8 to 12 years old. It is the cornerstone of a comprehensive myopia management approach provided by CooperVision.

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Market Segmentation

Malaysia eye care market is segmented into product type, coating, lens material, distribution channel, region, and company. Based on product type, Malaysia eye care market is divided into eyeglasses, contact lens, intraocular lens, eye drops, eye vitamins, and others. Based on coating, the market is categorized into anti-glare, UV, and others. Based on lens material, the market is categorized into normal glass, polycarbonate, trivex, and others. Based on distribution channel, Malaysia eye care market is categorized into retail stores, e-commerce, clinics, and hospitals. Based on region, the Malaysia eye care market is segmented into the East Malaysia and West Malaysia.

Company Profiles

Malaya Optical, Johnson & Johnson, CooperVision Contact Lens Malaysia Sdn Bhd, Metro optical Group Eyeware, Factory Eyeware, TRB CHEMEDICA, Eye Nation Medical Sdn Bhd, AXIAN HEALTHCARE, Systane, and Rohto are some of the key players of Malaysia eye care market.

Report Scope:

In this report, the Malaysia eye care market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

• Malaysia Eye Care Market, By Product Type:
• Eyeglasses
• Contact Lens
• Intraocular Lens
• Eye Drops
• Eye Vitamins
• Others
• Malaysia Eye Care Market, By Coating:
• Anti-Glare
• UV
• Others
• Malaysia Eye Care Market, By Lens Material:
• Normal Glass
• Polycarbonate
• Trivex
• Others
• Malaysia Eye Care Market, By Distribution Channel:
• Retail Stores
• E-Commerce
• Clinics
• Hospitals
• Malaysia Eye Care Market, By Region:
• The East Malaysia
• The West Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in Malaysia eye care 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).

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