Industry Analysis & Industry Trends
The ageing population will be a key factor promoting growth in the industry. As adults age, they are more likely to develop conditions that are diagnosed or treated by optometrists and result in the use of visual aids. According to the Optometrists Association of Australia, over 480,000 Australians are visually impaired and over half of visual impairments in Australia are due to refractive errors, which are easily corrected.
While the nature of industry services means that demand will always be steady, competitive pressures are expected to soften revenue growth. Where cheap imports would normally translate into higher profit margins, industry participants are forced to pass on cost savings to customers. For this reason, industry revenue is expected to only grow 0.7%... purchase to read more
Industry Report - Industry Products Chapter
The main segments within the industry are optometry services and optical dispensing services. Revenue in the optical dispensing segment is estimated to represent 76.0% of total industry revenue. Revenue from optometry is projected to contribute 22.0% of revenue in 2012-13.
An optometrist examines eyes and their structures to diagnose vision problems and other abnormalities, prescribes and adapts spectacles and contact lenses, and provides advice on eye care and eye health. In some cases, they may treat certain eye diseases such as eye infections, inflammations and glaucoma. Optometrists do not conduct eye surgery but refer these cases to ophthalmologists... purchase to read more