Glasses & Contact Lens Manufacturing in the US - Industry Market Research Report

Glasses & Contact Lens Manufacturing in the US - Industry Market Research Report

  • June 2020 •
  • 42 pages •
  • Report ID: 619134 •
  • Format: PDF
Clear eyes: An aging population and an increase in disposable income are expected to boost demand

Abstract

Glasses & Contact Lens Manufacturing in the US
The Glasses and Contact Lens Manufacturing industry produces eyeglass lenses and frames, contact lenses and protective eyewear. Prescription lenses are essential to the visually impaired, insulating this product segment from economic downturns and thus characterizing demand as inelastic. While consumers have increased 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. In turn, the industry has contended with rising external competition. Over the five years to 2024, the industry’s trade deficit is expected to decline due in part to a more favorable trade-weighted index. As a result, the industry will be better positioned to capitalize on greater consumer demand for lens products abroad and domestically.

This industry manufactures ophthalmic goods, including eyeglass frames and lenses and contact lenses. The industry also produces sunglasses and protective eyewear, such as goggles.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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