Blurry future: The aging population will boost demand, but high competition will limit growth

Over the past five years, the Glasses and Contact Lens Manufacturing industry in Canada has contended with changes in the optical retailing landscape. As optical retailers have consolidated, evidenced by more chain retailers dispensing eyewear and acquiring independently operated retailers, this trend has dampened manufacturers' ability to negotiate favourable supply-side contracts with these retailers. The industry is expected to continue to benefit from rising demand for optical products among the burgeoning elderly population, which may have age-related macular degeneration (AMD). Nonetheless, the anticipated appreciation in the Canadian dollar is expected to adversely affect the more.

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

Industry Threats & Opportunities

  • Revenue growth will be driven by rising demand for optical products from the aging population
  • Regulations at the retail level are becoming more lenient, easing accessibility to industry products
  • The emergence of more chain retailers will dampen industry revenue growth
  • Industry Report - Industry Investment Chapter

    The Glasses and Contact Lens Manufacturing industry in Canada exhibits a low level of capital intensity. Using wages as a proxy for labour and depreciation as a proxy for capital, IBISWorld estimates that for every dollar spent on labour in the industry, $0.08 will be spent on capital in 2018, down from $0.10 in 2013. Industry capital investments include spending on lens grinding equipment, lensometers and other equipment required to manufacture highly technical and often custom-made ophthalmic goods.To remain afloat, many glasses and contact lens manufacturers have focused on streamlining their facilities, with some industry operators consolidating their operations throughout North America. Man...purchase to read more.

    Additional Insights for the Glasses & Contact Lens Manufacturing Industry

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

  • Access to the latest available and most efficient technology and techniques
  • Access to highly skilled workforce
  • Prompt delivery to market
  • IBISWorld analysts also discuss how external factors such as Canadian effective exchange rate index and Per capita disposable income in the Glasses & Contact Lens Manufacturing industry impact industry performance..

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    What's in this report

    What is the Glasses & Contact Lens Manufacturing Industry?

    This industry manufactures ophthalmic goods, including eyeglass frames, lenses and contact lenses. The industry also produces sunglasses and goggles as well as nonelectrical ophthalmic equipment including optometers, retinoscopes and ophthalmometers.

    Industry Products
  • Contact lenses
  • Spectacles lenses (made of glass)
  • Spectacle lenses (excluding products made with glass)
  • Spectacles, goggles and other (excluding sunglasses)
  • Sunglasses
  • Industry Activities
  • Eyeglass frame (i.e. fronts and temples)
  • Glass and plastic eye
  • Goggle (e.g. industrial, safety, sun and underwater)
  • Lens
  • Lens coating
  • Lens grinding
  • Lens mount
  • Corrective vision-type magnifier
  • Sunglasses
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Canadian effective exchange rate index
  • Per capita disposable income
  • Number of adults aged 65 and older
  • Total health expenditure
  • External competition for the Optometrists industry

  • Current Performance
  • Changing retail landscape
  • International trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry landscape
  • International trade
  • Table: Glasses & Contact Lens Manufacturing Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Eye Glasses & Contact Lens Stores in Canada

  • Key Selling Industries
  • Glass Product Manufacturing in Canada
  • Plastic & Resin Manufacturing in Canada
  • Plastic Pipe & Parts Manufacturing in Canada
  • Printing, Paper, Food, Textile & Other Machinery Manufacturing in Canada

  • Products & Services
  • Spectacles, goggles and other (excluding sunglasses)
  • Sunglasses
  • Contact lenses
  • Spectacle lenses (excluding products made with glass)
  • Spectacles lenses (made of glass)
  • Chart: Glasses & Contact Lens Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Private medical offices
  • Retail outlets
  • Wholesaler
  • Chart: Major Market Segmentation for the Glasses & Contact Lens Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Glasses & Contact Lens Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

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

  • Industry Globalization
    Essilor Canada,
  • Table: Essilor Canada - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Glasses & 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 Glasses & Contact Lens 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)
  • Research and development expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Laser Eye Surgery
  • The removal of eye tissue with a laser to correct corneal irregularities.
  • Lens Blank
  • Generic lenses for glasses that need to be cut and shaped to prescription and fit to frame.
  • Lensometer
  • Also known as a lensmeter, this device verify that a lens prescription is correct and that the lens is correctly mounted on a frame.
  • Myopia
  • Seeing close objects clearly while distant objects appear blurred; often referred to as nearsightedness.
  • Ophthalmologist
  • A physician who specializes in the diagnosis and treatment of eye diseases.
  • Optometrist
  • A person who is professionally trained and licensed to check the eyes for visual defects, diagnose problems, and prescribe corrective lenses or other solutions.
  • Ortho-K Lenses
  • Rigid lenses with the ability to reshape the cornea over time; limited to mild cases of myopia and astigmatism.
  • Presbyopia
  • A condition where an individual loses his or her ability to focus on close-up objects.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Glasses & Contact Lens Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    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 Glasses & 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 Glasses & 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 Glasses & 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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