Business | Economy
Regional eyewear market set to boom
Vision-X Dubai seeks to focus on emerging trends in the optical and ophthalmic industry.
- By Nadia Saleem, Staff Reporter
- Published: 00:35 February 19, 2008
Dubai: The market for high-end ophthalmic products and branded optical aids is estimated at more than $2.1 billion.
Regional consumers spend significant amounts on the purchase of prescription lenses and frames, sunglasses, contact lenses and assorted eye care products, thanks to their relatively high purchasing power and the extreme climatic conditions in Middle East.
Targeting the emerging market for eyewear, the Dubai World Trade Centre (DWTC) is staging Vision-X Dubai, an event focusing on every aspect of the optical and ophthalmic industry that was inaugurated yesterday by Minister of Health Humaid Obaid Al Qutami.
"Eyecare exports from Germany to the Middle East increased by seven per cent in 2007 and the proportion is increasing," said Peter Frankenstein, manager of consumer optics and spokesperson for Spectaris, which, apart from manufacturing contact lenses and glasses also provides ophthalmic equipment. Two per cent of the German company's exports are destined for the UAE. In monetary terms, this amounts to 3.2 billion euros, Frankenstein said.
Porsche Design has annual sales of Dh15-Dh18 million in UAE and a further Dh5-Dh6 million in the rest of their regional markets.
Annually, they sell about a million lenses and 6,000 pairs of glasses in the UAE, according to Poya Eghterafi, managing partner, Egma lens factory, manufacturers of Porsche Design.
"We are seeing increasing interest for handcrafted eyewear that provides comfort and style," said Andre Nell from South Africa's The Green Company, which manufactures glasses from environmentally safe materials.
Vision-X with over 160 companies from 27 countries participating this year is a prime venue for international suppliers seeking business opportunities and distributors throughout the Middle East.
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