Recognizing the strong growth of Taiwan’s contact lens sector, Tzu Hsien Tung, Chairman of the Taiwan Contact Lens Industry Development Association, recently highlighted that Taiwan’s medical device industry achieved an impressive output value of nearly US$30 billion last year. He urged Taiwan to further develop emerging industries such as medical devices, which could help reduce the nation’s heavy reliance on semiconductor chips, ICT, electronic components, and printed circuit board exports.
At the association’s first-term third general assembly on September 16, more than 36 domestic contact lens manufacturers, distributors, and suppliers gathered to discuss industry trends. Taiwan’s contact lens market has been expanding rapidly, with its global market share rising from 2% in 2015 to 6.5% in 2024. The Industrial Technology Research Institute (ITRI) was also invited to share insights into the global market landscape as well as future opportunities and challenges for Taiwan’s contact lens industry.
Tung stated, “As Taiwan enters an aging society, technology-assisted solutions will become crucial for maintaining productivity. The aging trend is fueling demand for healthcare, elderly care, wellness, and medical aesthetics, creating a consumer market potentially worth hundreds of billions of U.S. dollars. Taiwan’s technology sector already possesses strong capabilities in high-end product development and precision R&D. With active integration and innovation, these strengths can give rise to new business opportunities in technology-driven applications. Among these, the medical device industry has performed particularly well, reaching nearly US$30 billion in output last year.”
He further emphasized that fostering emerging sectors such as medical devices will help diversify Taiwan’s industrial structure and reduce export pressure on the semiconductor, ICT, electronic component, and PCB industries. Tung encouraged greater industrial diversification, noting that it can not only generate additional economic value and wealth but also create broader career development opportunities for technology professionals.
According to the Biomedical Technology and Device Research Laboratories at ITRI, the global contact lens market surpassed US$10 billion in 2024 and is projected to maintain a steady compound annual growth rate (CAGR) of 6.6% through 2029. Growth momentum is being driven by the rising prevalence of myopia, increasing adoption of daily disposable and cosmetic lenses, the widespread use of silicone hydrogel materials, and growing demand for myopia control and presbyopia correction. North America, Europe, and the Asia-Pacific region remain the three key markets, with Asia-Pacific expanding the fastest — notably in India, mainland China, and South Korea, each recording near double-digit growth rates.
Wu Shao-Yi, a researcher at ITRI’s Biomedical Technology and Device Research Laboratories, noted, “Taiwan’s contact lens exports continue to hit record highs. Leveraging advantages in automated production lines, silicone hydrogel processing, and cosmetic lens printing patents, local manufacturers have built a strong presence in both OEM and proprietary brands. In recent years, many products have obtained FDA 510(k) clearance, with daily disposable silicone hydrogel and functional lenses dominating the market. International innovations are focusing on high oxygen-permeable silicone hydrogel designs, while diagnostic OLED lenses, drug-delivery lenses, and smart lenses are advancing toward commercialization. Among these, the pediatric myopia control segment is expanding rapidly, with a CAGR of 13.3%, representing a long-term, high-margin blue ocean market. Although China’s market penetration remains relatively low, the fastest growth is seen in cosmetic and silicone hydrogel lenses, where the rise of domestic brands is intensifying competition.”
Overall, the global contact lens industry is in a phase of stable expansion, with Asia-Pacific demand serving as a major growth engine. Ongoing technological innovation and functional product development continue to enhance both pricing power and profitability. While Taiwanese manufacturers hold competitive advantages in materials and production processes for both OEM and proprietary brands, they still face challenges such as market dominance by international giants, high import tariffs, and increasing competition from mainland China’s emerging domestic brands. The Taiwan Contact Lens Industry Development Association encourages local companies to accelerate technological upgrades, strengthen global expansion, and pursue differentiation strategies to reinforce their global positioning and capture new blue ocean opportunities.
Resource: 台灣醫材去年產值300億美元 童子賢呼籲多加發展、分散半導體出口壓力
