Jul 23 2008
Research and Markets has announced the addition of the "Ophthalmic Goods + Services Market Report 2008" report to their offering.
The UK ophthalmic goods and services market maintained growth over the review period and was worth an estimated £2.74bn in 2007, a rise of 18.3% from a value of £2.32bn in 2003.
Ophthalmic goods comprise the largest sector of the market, with spectacles dominating sales. A trend in preference for designer frames has greatly boosted excitement in the sector, and consumers using NHS vouchers in part-payment for spectacles also raised their average spend in 2006/2007, according to data from the Federation of Ophthalmic and Dispensing Opticians (FODO). The market is fiercely competitive in terms of promotions and discounted second pairs; therefore, strong volume sales have sustained healthy value rises, despite a fall in the average price of a pair of spectacles.
Contact lenses have also made strong gains in the ophthalmic goods sector and have risen in value by 19.4% since 2003 to an estimated £430m. Strong growth was seen particularly in 2007, when new materials and developments in the manufacturing of soft disposable lenses have enabled more users to wear them in comfort. Uptake is still increasing, and fewer wearers are giving up and returning to spectacles. Many more women than men wear contact lenses, and one of the industry's challenges must be to encourage more men (as well as more people in general) to wear lenses.