Eye to eye: New product development will sustain industry revenue growth

The Contact Lens Manufacturing industry is continuing to grow over the five years to 2017 as a result of increased demand for soft contact lenses and rising sales of specialty corrective lenses with higher price tags. Manufacturers in this industry design and produce corrective, cosmetic and therapeutic contact lenses and market them primarily to medical professionals and retailers. Downstream markets for this industry vary from opticians to online retailers. Contact lenses are often considered a cosmetic alternative to eyeglasses rather than a necessity, therefore linking demand to consumers' level of disposable income in addition to the number of people with health insurance that includes vision coverage...purchase to read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
0.2%
Forecast Growth 17-22
Profit
Employment
15,826
Businesses
352

Industry Threats & Opportunities

  • As disposable income increases, more consumers are able to afford premium products
  • Through acquisitions, the brand portfolios of the top players have become quite large
  • Little change to the industry’s infrastructure is expected in the immediate future
  • Industry Report - Industry Analysis Chapter

    The Contact Lens Manufacturing industry has experienced widespread market acceptance over the past five years, earning revenue from consistent consumer demand. This industry produces contact lenses for corrective, cosmetic and therapeutic purposes, as well as products for lens care and maintenance. The growth of this industry depends on demand from downstream markets, as well as the ability for consumers to purchase contact lenses using discretionary income, often alongside assistance from vision insurance. Growth has been minimal over the past five years; while people’s ability to pay for contacts has increased, the need for vision products has remained stable. As a result, over the five years to 2017, industry revenue is expected to increase at an annualized rate of only 0.2% to $4.0 bi...purchase to read more.

    Additional Insights for the Contact Lens Manufacturing Industry

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

  • Access to the latest available and most efficient technology and techniques
  • Product quality and differentiation
  • Protection of intellectual property/copyrighting of output
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 20 to 64 and Number of people with private health insurance in the Contact Lens Manufacturing industry impact industry performance..

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    What's in this report

    What is the Contact Lens Manufacturing Industry?

    This industry manufactures corrective, cosmetic or therapeutic lenses that are usually placed on the cornea of the eye. The care and maintenance products for these lenses are also included in this industry.

    Industry Products
  • Single vision spherical lenses
  • Toric lenses
  • Multifocal lenses
  • Other lenses and products
  • Industry Activities
  • Producing contact lenses for corrective, cosmetic and therapeutic purposes
  • Producing products for contact lens care and maintenance
  • Producing eyecare products
  • 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 20 to 64
  • Number of people with private health insurance
  • Trade-weighted index
  • Per capita disposable income

  • Current Performance
  • Products
  • Manufacturing trends
  • International trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Steady development
  • Rising trade competition
  • Table: Contact Lens Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Contact Lens Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Glasses & Contacts Wholesaling
  • Eye Glasses & Contact Lens Stores
  • Optometrists

  • Key Selling Industries
  • Plastic & Resin Manufacturing
  • Printing, Paper, Food, Textile & Other Machinery Manufacturing

  • Products & Services
  • Single vision spherical lenses
  • Toric lenses
  • Other lenses and products
  • Multifocal lenses
  • Chart: Contact Lens Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Independent eye care professionals
  • Retail chains and mass merchandisers
  • Exports
  • Online retail or mail order
  • Chart: Major Market Segmentation for the Contact Lens Manufacturing Industry

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

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Contact Lens Manufacturing Industry

  • Industry Globalization
    Johnson & Johnson, Novartis AG, The Cooper Companies Inc., Valeant Pharmaceuticals International Inc.,
  • Table: Johnson & Johnson - financial performance
  • Table: Novartis AG - financial performance
  • Table: The Cooper Companies Inc. - financial performance
  • Table: Valeant Pharmaceuticals International Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Contact Lens 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 Contact Lens Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Number of people with private health insurance (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Hydrogel Lenses, Or Soft Lenses
  • Contact lenses made of soft water-absorbing plastic that adheres closely and with minimal discomfort to the eye.
  • Rigid Gas Permeable (Rgp) Lenses, Or Hard Lenses
  • Contacts made of a firm, durable plastic that transmits oxygen, but does not contain water.
  • Silicone Hydrogel Contact Lenses
  • Advanced soft contact lenses that allow more oxygen to pass through the lens to the cornea than regular hydrogel lenses
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Contact Lens Manufacturing contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Contact Lens 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 Contact Lens 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 Contact Lens Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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