Looking up: An aging population and higher disposable income will bolster revenue

Over the five years to 2018, the Ophthalmic Instrument Manufacturing industry has benefited from a progressively aging US population, as eye problems closely associated with age, such as macular degeneration, cataracts, glaucoma and diabetic retinal disease has led to a rise in ophthalmic surgeries, which increased demand for ophthalmic equipment sold by this industry. A projected continuation of these trends, namely a progressively aging US population, technological advancements in corrective vision procedures and strong demand from overseas markets should support the industry in the five years to 2023, as revenue is expected to increase an annualized 1.7% to $5.4 billion...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Advancements in surgical techniques have made eye surgery quicker and less painful
  • International demand for eyecare services and ophthalmic equipment strongly grew
  • An aging US population will increase demand for vision services for common refractive disorders
  • Industry Report - Industry Products Chapter

    Diagnostic equipmentDiagnostic equipment includes preoperation surgical evaluation devices like corneal topography, anterior eye scanners, pachymetry, biometry, specular microscopes, keratometers and ultrasound; retinal diagnostic devices such as fundus cameras, indirect ophthalmoscopes, OCT imaging systems and diagnostic lenses; glaucoma diagnostic devices, general exam equipment, refraction equipment such as lensometers, chart projectors, manual refractors and auto refractors; glaucoma diagnostic devices; and data management systems. These products are the most widely used among ophthalmic and optometric professionals worldwide. Nevertheless, there is little room for technological innovation in this product segment and production methods have become largely standardized. The...purchase to read more.

    Additional Insights for the Ophthalmic Instrument Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Ophthalmic Instrument Manufacturing Industry are

  • Access to the latest available and most efficient technology and techniques
  • Undertaking technical research and development
  • Protection of intellectual property/copyrighting of output
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older and Number of people with private health insurance in the Ophthalmic Instrument Manufacturing industry impact industry performance..

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    What's in this report

    What is the Ophthalmic Instrument Manufacturing Industry?

    This industry manufactures ophthalmic diagnostic instruments and surgical equipment used in eye-related medical procedures. Examples of diagnostic equipment include optical coherence tomography scanners, ophthalmic ultrasound systems, cameras, scopes, tonometers and lighting equipment. Examples of surgical equipment include ophthalmic lasers, as well as cataract, glaucoma, refractive and other surgery devices.

    Industry Products
  • Surgical systems and instruments
  • Diagnostic equipment
  • Laser surgical equipment
  • Industry Activities
  • surgical systems and instruments
  • eye-care diagnostic equipment
  • laser equipment
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older
  • Number of people with private health insurance
  • Per capita disposable income
  • Trade-weighted index

  • Current Performance
  • An aging population increases industry demand
  • Growing healthcare coverage and vibrant economy
  • Increasing international trade
  • Industry structure and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Aging population, greater healthcare coverage
  • Industry participation, trade and profit
  • Technological advancements
  • Table: Ophthalmic Instrument Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Ophthalmic Instrument Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Eye Glasses & Contact Lens Stores
  • Specialist Doctors
  • Optometrists
  • Hospitals

  • Key Selling Industries
  • Copier & Optical Machinery Manufacturing
  • Glass Product Manufacturing
  • Plastic & Resin Manufacturing

  • Products & Services
  • Diagnostic equipment
  • Surgical systems and instruments
  • Laser surgical equipment
  • Chart: Ophthalmic Instrument Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Primary care eye doctors
  • Specialist ophthalmologists
  • Exports
  • Chart: Major Market Segmentation for the Ophthalmic Instrument Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Ophthalmic Instrument Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Ophthalmic Instrument Manufacturing Industry

  • Industry Globalization
    Alcon Inc., Johnson & Johnson, Valeant Pharmaceuticals International Inc., Carl Zeiss Meditec Group,
  • Table: Alcon Inc. - financial performance
  • Table: Johnson & Johnson - financial performance
  • Table: Valeant Pharmaceuticals International Inc. - financial performance
  • Table: Carl Zeiss Meditec Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Ophthalmic Instrument Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Ophthalmic Instrument Manufacturing Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Number of adults aged 65 and older (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Age-Related Macular Degeneration
  • A medical condition caused by damage to the macula or small spot near the center of the retina, which reduces an individual's ability to see.
  • Cataract
  • A clouding of the eye's lens, which impairs vision and could lead to blindness.
  • Glaucoma
  • A group of diseases that cause damage to the eye's optic nerve.
  • Medicare
  • A government program medical insurance for persons aged 65 and over and for certain disabled persons under 65.
  • Ophthalmologist
  • A physician that specializes in the study and treatment of defects and diseases of the eye.
  • Refractive Error
  • An error in the focusing of light by the eye and a frequent reason for reduced visual acuity.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Ophthalmic Instrument Manufacturing Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Ophthalmic Instrument Manufacturing industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Ophthalmic Instrument Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Ophthalmic Instrument Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Ophthalmic Instrument Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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