Malaysia Eyewear Market is expected to register strong sales value of more than USD481 million by next year: KEN PAYE-EK SUCCESS. The major drivers of eyewash market growth in Malaysia over the past few years have been the efforts by the Ministry of Health to disseminate information on proper vision care and the importance of wearing eyeglasses or contacts by the general population. The Ministry has also taken important steps to standardize eyeglass designs for the whole country and reduce marketing practices that go against good eyewash design principles. There is also a growing demand for affordable eyeglasses by Malaysia’s middle class. As a result of these efforts by the MHA and other government stakeholders, more consumers from low income families are choosing to purchase eyeglasses and contact lenses online.
Malaysia’s eyewash sector has experienced substantial growth over the past decade. Demand for eyeglasses and contact lenses among the urban population has also been increasing. This has resulted in a significant growth in the supply of single vision, bifocal and reading glasses as well as progressive lens wear among the middle class. However, a significant proportion of the population still prefers conventional glasses and lenses over eyeglasses or contact lenses.
The primary driver behind the recent surge in demand for eyeglasses and sunglasses in Malaysia has been the promotion of healthier lifestyles, resulting in an overall reduction in smoking and drinking habits. The other drivers of eyeglasses and sunglasses trends in Malaysia include education and nutrition as well as government policies and programs. These include the Malaysia Vision Research Enhancement Program (VMRE) and Malaysia Development Program (MDP). These programs aim at improving the overall health of the Malaysian population by implementing measures that promote vision correction and prevention of diseases such as macular degeneration and cataract.
An interesting trend that emerged recently in Malaysia was the move to expand the market with more specialized shops targeting men. In line with these efforts, eyeglasses distributors in Malaysia now have more options to choose from when approaching the market. A notable example of this is the launch of Sunglasses Direct in Kuala Lumpur in March this year. Sunglasses Direct, which is owned by Starrett Holding, a prominent American manufacturer of contact lenses, has attracted prominent investors including KAP Properties, an Asian private equity firm. Its partnership with Starrett has also prompted Sunglasses Direct to launch its own chain of stores across the globe, including one in Dubai.
Another significant factor behind the rising popularity of prescription glasses in Malaysia has been the government’s incentives for citizens to switch to glasses and contact lenses. The government provides financial assistance to citizens who wear eyeglasses or have their eyes checked regularly. As a result, more individuals are encouraged to switch to glasses or other corrective devices, and Malaysia has received commendations for its effort in the area of vision care. As the demand for these devices increases, the price competitiveness also increases. This has led many local manufacturers to manufacture high-quality and affordable eyewear to cater to the needs of consumers.
While prescription glasses still form the largest portion of the market, there has been a major shift from the traditional eyewear brands into eyewears that are tailored to meet the unique needs of the buyers. There are a variety of online eyewash stores that provide a wide range of styles and prices to fit the budget of every Malaysian. Moreover, many of these online stores offer free delivery and offer the opportunity to shop from the comfort of our homes. There is no denying the fact that eyewash is a fast-growing industry in Malaysia. With increasing competition coming from countries like China, India and the USA, companies providing prescription glasses and other eye care products are working harder to attract customers.