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Ophthalmic Instrument Manufacturing
Ophthalmic Instrument Manufacturing: Market Research Report
Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends
Ophthalmic Instrument Manufacturing Market Research Report | NAICS OD5648 | Nov 2016
Looking up: An aging population and higher disposable income will bolster revenue
IBISWorld’s Ophthalmic Instrument 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.
| Revenue
$5bn
|
Annual Growth 11-16
2.4%
|
Annual Growth 16-21
 |
| Profit
|
Employment
10,332
|
Businesses
74
|
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- Advancements in surgical techniques have made eye surgery quicker and less painful
- International demand for eyecare services and ophthalmic equipment strongly grew
- More affordable access to vision correcting services will also drive demand for ophthalmic equipment
Over the five years to 2016, the Ophthalmic Instrument Manufacturing industry has benefited from a progressively aging US population, as eye problems closely associated with age, which increased demand for ophthalmic equipment sold by this industry. Advancing age has sent seniors, in increasing numbers, to optometrists to seek corrections for common refractive eye disorders, such as nearsightedness. Furthermore, corrective vision procedures have become more affordable for US consumers over the past five years, as increasing employment, disposable incomes and expanding access to health insurance encouraged more people to seek professional eyecare services. A projected continuation of these trends should support the industry in the five years to 2021… … purchase to read more
The Ophthalmic Instrument Manufacturing industry is driven by a number of factors, including aging demographics, surgical and product innovations, economic growth, increasing health insurance coverage and an expansion in demand from overseas markets. Over the five years to 2016, the progressive aging of the US population helped foster industry growth, as elderly individuals are more likely to develop eye diseases; their increasing numbers has fueled a rise in medical and nonmedical eye surgeries. Industry demand has also been driven by advancements in surgical techniques, such as minimally invasive laser procedures, which have made medically necessary eye surgeries safer and less painful. Mor.. … purchase to read more
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