Industry Analysis & Industry Trends
The number of adults aged 65 and older increased over the five years to 2013, far outpacing population growth. As the population aged, aged-related vision diseases became more prevalent in the population. In particular, more Canadians suffered from age-related macular degeneration, glaucoma, cataracts and other vision diseases. Although Canada has a robust, publicly funded healthcare system, vision care is primarily privately funded. As such, household income levels are an important demand driver for vision care services. As disposable incomes and the median age of the population increase, demand for industry services will continue to rise... purchase to read more
Industry Report - Industry Products Chapter
Sales of prescription glasses and contacts
The largest share of revenue is generated from sales of prescription glasses and contact lenses. Customers visit optometrist practices primarily because they have less than perfect eyesight and need vision correction. As such, most of these customers are in the market to buy prescription glasses, sunglasses or contact lenses.
Optometrists are essentially resellers of glasses and contact lenses that are manufactured by other companies. Optometrists are therefore susceptible to the high and rising costs of some of these products. Designer glasses, for example, regularly cost several hundred to a thousand dollars... purchase to read more