Perfect vision: The industry will benefit from rising demand for optical products among the elderly population

The Glasses and Contact Lens Manufacturing industry in Canada produces eyeglass lenses and frames, contact lenses and protective eyewear. Several of the industry's product segments are essential to the visually impaired, somewhat insulating the industry from economic downturns. While rising per capita disposable income has enabled consumers to increase expenditure on glasses and contacts over the five years to 2019, competitively priced imports have satisfied a growing portion of consumer demand for industry products. Some niche glasses and contact lens manufacturers have appealed to consumers on the basis of providing customizable eyewear with quick product turnaround...read more.

Industry Statistics & Market Size
Revenue
$296m
Annual Growth 14-19
2.3%
Forecast Growth 19-24
Profit
Employment
1,961
Businesses
113
Market Share of Companies

Industry Threats & Opportunities

  • Rising per capita disposable income has enabled consumers to increase expenditure on glasses and contacts
  • The optical retailing landscape has changed considerably
  • The uptick in industry participation will spur a gain in employment
  • Industry Report - Industry SWOT Analysis Chapter

    The Glasses and Contact Lens Manufacturing industry in Canada is in the mature stage of its life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 2.9% over the 10 years to 2024. Comparatively, GDP is anticipated to grow at an annualized rate of 1.7% during the same period. Although the disparity between IVA growth and GDP growth usually indicates the industry is in the growth stage of its life cycle, several other characteristics, including static product lines, industry consolidation and established market acceptance, reinforce its maturity.An indication of the industry's maturity is the high degree of consolidation. The...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..

    shopping_cartPURCHASE OPTIONS

    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 and nonelectrical ophthalmic equipment including optometers, retinoscopes and ophthalmometers.

    Industry Products
  • Contact lenses
  • Spectacle 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
  • Industry structure
  • 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
  • Spectacle lenses made of glass
  • Chart: Glasses & Contact Lens Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Private medical offices
  • Retail outlets
  • Wholesalers
  • 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
    WagesPurchasesProfitDepreciationMarketingRentUtilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Glasses & Contact Lens Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Glasses & Contact Lens Manufacturing Industry

  • Industry Globalization
    EssilorLuxottica SA,
  • Table: EssilorLuxottica SA - 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
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Research and development expenditure (2010-2024)

  • 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 verifies 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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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.

    Contact Us

    Want to speak to a representative? Call us.

    clear