Photo finish: Industry revenue increases as local manufacturers focus on export growth

The Photographic and Optical Goods Manufacturing industry has performed strongly over the past five years. This performance has been driven by high export growth, and despite large increases in competing imports. Several companies have developed niche markets at home and abroad, contributing to strong export growth from 2013-14 through 2015-16. Exports include commercial products and high-end ophthalmic equipment, which generally require significant research and development and extensive product knowledge.Some domestic companies manufacture photographic equipment including commercial cameras and related products, with a high proportion of these products exported each year...read more.

Industry Statistics & Market Size
Revenue
$452m
Annual Growth 12-17
9.7%
Forecast Growth 17-22
Profit
Employment
1,289
Businesses
114

Industry Threats & Opportunities

  • Industry revenue has been driven by strong export growth over the past five years
  • Public health expenditure and private health insurance have helped demand for ophthalmic goods
  • Wages increasing as a share of revenue will likely contribute to declining profit margins
  • Industry Report - Starting a New Business Chapter

    Entry barriers for new firms to the industry include a rapid rate of technological change; economies of scale; high research and development costs (R&D); patents; and access to skilled staff. Industry operators invest large sums to develop photographic and optical lens products as the high degree of specialisation in products requires ongoing R&D investment. Industry players therefore sustain high R&D levels to enhance their product lines. Companies typically do this via their own in-house R&D efforts, through licensing products from smaller companies, or through mergers and acquisitions. These high R&D costs and associated product specialisation can be entry barriers for new firms...purchase to read more.

    Additional Insights for the Photographic and Optical Goods Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Photographic and Optical Goods Manufacturing Industry are

  • Access to highly skilled staff
  • Developing export markets
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Demand from optometry and optical dispensing and Value of merchandise trade imports in the Photographic and Optical Goods Manufacturing industry impact industry performance..

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    What's in this report

    What is the Photographic and Optical Goods Manufacturing Industry?

    Industry firms manufacture photographic equipment (except sensitised photographic film, paper, plates or chemicals) and optical instruments or equipment. The industry also includes optical lens grinders and manufacturers of ophthalmic goods including contact lenses, sunglasses, spectacle frames, and sunglass frames.

    Industry Products
  • Glass lenses and grinding services
  • Ophthalmic diagnostic and surgical laser equipment
  • Glasses and sunglasses frames
  • Contact lenses
  • Cameras, binoculars, telescopes and microscopes
  • Industry Activities
  • Contact lens
  • Binocular, telescope and microscope
  • Camera
  • Ophthalmic articles or equipment
  • Optical instruments or equipment
  • Optical lens grinding
  • Photographic equipment
  • Spectacle frames
  • Spectacle lens grinding
  • Sunglasses
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from optometry and optical dispensing
  • Value of merchandise trade imports
  • Trade-weighted index
  • Median age of the population
  • Public health expenditure
  • Real household discretionary income

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Future industry trends
  • Ophthalmic and optical goods
  • Industry structure
  • High international trade
  • Table: Photographic and Optical Goods Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Photographic and Optical Goods Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Surveying and Mapping Services
  • Optometry and Optical Dispensing
  • Photographic Film Processing
  • Professional Photographic Services
  • Health Services
  • Consumers

  • Key Selling Industries
  • Basic Organic Chemical Manufacturing
  • Glass and Glass Product Manufacturing
  • Synthetic Resin and Synthetic Rubber Manufacturing

  • Products & Services
  • Ophthalmic diagnostic and surgical laser equipment
  • Glass lenses and grinding services
  • Glasses and sunglasses frames
  • Cameras, binoculars, telescopes and microscopes
  • Contact lenses
  • Chart: Photographic and Optical Goods Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Export markets
  • Optometrists and optical dispensers
  • Ophthalmologists
  • Other markets
  • Retailers
  • Chart: Major Market Segmentation for the Photographic and Optical Goods Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Photographic and Optical Goods Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Photographic and Optical Goods Manufacturing Industry

  • Industry Globalization
    Ellex Medical Lasers Limited, Redflex Holdings Limited,
  • Table: Ellex Medical Lasers Limited - financial performance
  • Table: Redflex Holdings Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Photographic and Optical Goods Manufacturing 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 Photographic and Optical Goods Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Glaucoma
  • A disease characterised by elevated intraocular pressure, which causes optic nerve damage and subsequent peripheral vision loss.
  • Lasik
  • Laser-Assisted in Situ Keratomileusis, or laser-eye surgery.
  • Ophthalmic Equipment
  • Products used to assess eye and sight problems, and diagnose eye diseases.
  • Orthokeratology
  • Also called Ortho-K, this is a type of eye vision correction technology.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Photographic and Optical Goods 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.

    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 Photographic and Optical Goods Manufacturing:
    • 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 of 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 Photographic and Optical Goods Manufacturing 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 Photographic and Optical Goods Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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