Clear focus: Companies will invest in R&D and cater to the aging population to spur growth
IBISWorld’s Glasses & Contact Lens Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Industry Statistics & Market Size
Annual Growth 09-14
Annual Growth 14-19
Industry Analysis & Industry Trends
After a period of growth and decline, the industry will experience stable demand over the next five years. As the US population ages, manufacturers will look to capitalize on heightened demand for lens products. Nevertheless, smaller companies will be hurt by technological advances, being forced to exit the industry or consolidate into larger companies that seek access to their intellectual property... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry into the Glasses and Contact Lens Manufacturing industry are high. Most ophthalmic lens goods are manufactured under patent. This acts as a barrier to entry in certain markets where patented products exist. Firms entering the industry need to either acquire a company that holds a patent or invest in costly research and development to manufacture a product that can compete without infringing upon existing manufacturers' intellectual property.
The high capital costs required to manufacture ophthalmic goods and lengthy regulation and approval processes by the FDA can deter some prospects from entering the industry. Operators must also hire skilled staff to successfully compete... purchase to read more
What is the Glasses & Contact Lens Manufacturing Industry?
This industry manufactures ophthalmic goods, including eyeglass frames and lenses and contact lenses. The industry also produces sunglasses and protective eyewear.
Contact lensesPlastic focal lensesPolycarbonate focal lensesFull-fronts and templesGlass focal lenses
Contact lensEyeglass frame (i.e. fronts and temples)Glass and plastic eyeGoggle (e.g. industrial, safety, sun and underwater)LensLens coatingLens grindingLens mountCorrective vision-type magnifierSunglasses