Staying focused: M&A activity and investment have supported growth in the face of strong competition

Operators in the Opticians industry fit and sell frames, prescription lenses, contact lenses and other eyewear accessories, and also provide eye tests for consumers. The industry has recorded modest, but relatively steady revenue growth over the past five years. Rising levels of health consciousness have led to greater awareness of eye-health, resulting in consumers being more likely to have their eyes tested. The increased penetration of internet services and internet-enabled devices has led to an increase in the amount of time people spend looking at screens, making eye-damage more likely. These factors are expected to have boosted demand for the industry’s services...read more.

Industry Statistics & Market Size
Revenue
£4.4bn
Annual Growth 14-19
1.5%
Forecast Growth 19-24
Profit
Employment
62,589
Businesses
4,449

Industry Threats & Opportunities

  • The industry has recorded steady growth in the face of strong external competition
  • Many operators have extended their operating hours in order to compete with the convenience offered by supermarkets
  • Laser eye surgery is likely to pose a growing threat over the coming five years
  • Industry Report - Industry Key Buyers Chapter

    The level of concentration measures the extent to which the top players dominate an industry. The Opticians industry has a moderate level of market share concentration, as the four largest players are expected to account for 37.8% of industry revenue in 2018-19. Market share concentration has increased over the past five years as tough trading conditions have forced enterprises to consolidate. The most recent and notable form of consolidation activity has been Vision Express' acquisition of Tesco Opticians. However, the merger between Boots and Dollond & Aitchison in January 2009 had the biggest influence on the market because Boots Opticians doubled its market share...purchase to read more.

    Additional Insights for the Opticians Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Opticians Industry are

  • Highly trained workforce
  • Proximity to key markets
  • Having links with suppliers
  • IBISWorld analysts also discuss how external factors such as Real private consumption expenditure and Population aged 65 years and over in the Opticians industry impact industry performance..

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    What's in this report

    What is the Opticians Industry?

    Operators in this industry sell and fit prescription lenses, frames, contact lenses and other eyewear accessories from specialised stores. Opticians are trained to fit frames for customers and some also provide eye examinations. The industry excludes online retailers and in-store opticians in supermarkets.

    Industry Products
  • Frames
  • Prescription lenses
  • Contact lenses
  • Eye tests
  • Other products
  • Industry Activities
  • Retail sale of prescription lenses in specialised stores
  • Retail sale of frames
  • Retail sale of contact lenses
  • Retail sale of sunglasses and other eye accessories
  • Provision of eye examinations
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Real private consumption expenditure
  • Population aged 65 years and over
  • Demand from supermarkets
  • Total health expenditure
  • Health consciousness

  • Current Performance
  • Shifting background
  • Special offers
  • Consolidation activity
  • Focused response
  • Chart: Revenue Growth

  • Industry Outlook
  • E-commerce options
  • Laser surgery
  • Market domination
  • Table: Opticians Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Opticians Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Allied Health-Care Services
  • Medical & Dental Instrument Manufacturing
  • Pharmaceutical Wholesaling

  • Products & Services
  • Frames
  • Prescription lenses
  • Contact lenses
  • Eye tests
  • Other products
  • Chart: Opticians Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged between 50 and 64
  • People aged 65 and over
  • People aged between 30 and 49
  • People aged under 30
  • Chart: Major Market Segmentation for the Opticians Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRentOther
  • Chart: Cost Structure Benchmarking – Sector vs Opticians

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Opticians Industry

  • Industry Globalization
    Specsavers Optical Superstores Ltd, Walgreens Boots Alliance Inc, Vision Express (UK) Limited,
  • Table: Specsavers Optical Superstores Ltd - financial performance
  • Table: Walgreens Boots Alliance Inc - financial performance
  • Table: Vision Express (UK) Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Opticians 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 Opticians Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Corneal Ectasia
  • A disorder that causes the cornea to thin and change shape.
  • Glaucoma
  • A condition where higher pressure within the eyeball causes gradual sight loss.
  • Optometrist
  • A person who is able to measure eyesight, prescribe lenses and detect eye diseases.
  • Pachymeter
  • A medical device used to measure the thickness of the cornea.
  • Presbyopia
  • Long-sightedness caused by loss of elasticity of the lens of the eye.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Opticians 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 Opticians:
    • 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 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 Opticians 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 Opticians, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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