Envisioning a bright future

GLOBAL cosmetic contact lens market size was valued at over US$900mil (RM3.7bil) in 2015.

It might grow beyond 10% per year from then to 2019, according to Transparency Market Research.

Increasing demand for cosmetic contact lenses without vision correction is anticipated to drive industry growth.

Leading global player

Malaysian company Maxvue Vision Sdn Bhd has been a leading global player exporting contact lenses to over 60 countries worldwide.

Maxvue – winner of four SOBA awards this year – was also crowned “Malaysian Business of the Year 2016” in the up to RM25mil category.

It is currently expanding locally manufactured coloured, clear, toric (for astigmatism) and bifocal contact lenses to meet the demands of the growing market.

Pioneer status

Malaysian Investment Development Authority (Mida) awarded Maxvue “Pioneer Status” for High Technology Manufacturing to set up a sophisticated coloured contact lenses manufacturing plant at its Seremban facility.

Over the next five years, Maxvue will expand its capacity with both semi- and fully-automated, robotic assisted lines. The production capacity will cater for both Maxvue’s in-house brands and original equipment manufacturer (OEM) or private labelling products within Malaysia and abroad.

Maxvue products are sold by some of the largest eye care company in the world, like Luxotica Group (OPSM), Spec Savers, Alain Afflelou, Vision Lab and Multi Opticals in Europe and Australia.

Competitive edge

Innovation and technology are key drivers to stay competitive in a market dominated by multinational giants.

Maxvue plans to set up a local R&D centre developing new material formulations and manufacturing processes to produce products with a competitive edge.

It has signed an MOU with the Management and Science University (MSU) to collaborate on research and training programmes.

UKM and Monash University researchers have also shown interest in collaborations.

Maxvue contact lenses are manufactured using sophisticated full-cast moulding process, which produces ultra-thin lenses without multiple layers, resulting in good oxygen permeability and full-day comfort.

The unique polymerisation process firmly binds the colour material deep into lens monomers and prevents colour leaching.

The hydrogel formulated from raw materials imported from Europe, the US and Japan ensure safety, top quality and comfort.

Such innovative approaches ensure Maxvue lenses’ safety without side effects.

The approvals from medical device regulators around the world, such as European CE mark, Australian TGA, Singapore HSA, Health Canada and Russian MOH, are clear testimonies of it meeting international standards.

Over the last 10 years, Maxvue has been consistent with its endeavours to brand and market its products in Europe, Asia and the Middle East.

Contact lenses are consumer and lifestyle products, as well as medical devices – exporting them require strong brand building backed by solid regulatory compliance – a tall order for a local SME.

Yet Maxvue has persistently pursued regulatory approvals.

This year, its ColourVUE brand was cleared by Russian Health Ministry after a four-year approval process.

To date, Maxvue has obtained approvals from health ministries across the Middle East to Asian countries, Australia, Canada and the European Union.

Its US FDA approval is expected to clear by the end of this year.

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