Industry Analysis & Industry Trends
The Glasses and Contact Lens Manufacturing industry produces a range of eyeglasses, contacts and sunglasses for consumers in the United States and abroad. Prescription lenses are essential to the visually impaired, insulating this product segment from economic downturns. However, consumers waited for a longer period of time to upgrade their glass frames following the recession, decreasing spending on vision products. In the coming years, the industry is well positioned to capitalize on greater demand for lens products, as the US population ages and the number of people with vision-related health complications increases... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the mature stage of its life cycle. Over the 10 years to 2019, industry value added (IVA), which measures an industry's contribution to the economy, is forecast to increase at an average annual rate of 2.1%. In comparison, GDP is projected to grow 2.7% per year on average during the same period. IVA fluctuated during this period, mirroring fluctuations in the average profit margin. While the industry underperformed the economy over the past five years, consistent M&A activity and investment in new technology and R&D mean the industry's importance to the overall economy will grow.
Uncharacteristic of mature industries, technology continues to drive the introduction of new products to the market... purchase to read more