Sight for sore eyes: Rising private health insurance coverage helps support revenue

The Eye Surgery Clinics industry has expanded steadily over the past five years. Eye surgeons, also known as ophthalmologists, are medical professionals that specialise in diagnosing and treating eye conditions. Rising demand from Australia's ageing population and a competitive private health insurance sector have supported the industry over the past five years. Industry revenue is expected to increase at an annualised 2.4% over the five years through 2017-18, to total $1.4 billion. This includes anticipated growth of 1.9% in the current year, as the rising median age of the population supports greater demand for industry services. Changing lifestyle preferences have also boosted demand for corrective eye surgery over the past five years...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
2.4%
Forecast Growth 18-23
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Profit
x.x%lock
Employment
3,446
Businesses
395
Market Share of Companies

Industry Threats & Opportunities

  • The ageing population is expected to support revenue growth for the industry
  • The popularity of corrective eye surgery has increased over the past five years
  • Favourable operating conditions will lead to growth in enterprise and establishment numbers

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    Industry Report - Industry Products Chapter

    Most services operators in the Eye Surgery Clinics industry perform involve laser surgery. Laser technology enables greater precision and safety in conducting surgical procedures, particularly when compared with traditional surgery. Laser-assisted in situ keratomileusis (LASIK), advanced surface laser ablation (ASLA) and photorefractive keratectomy (PRK) are types of surgery that reshape the cornea for general vision correction, while some cataract surgeries are also laser assisted.LASIK surgeryLASIK surgery is the most popular form of eye surgery provided by the industry. The procedure is used to correct refractive eye problems by adjusting the focus of the affected eye. LASIK involves creating a flap in the cornea (the transparent outer layer of the eye). The...purchase to read more.

    Additional Insights for the Eye Surgery Clinics Industry

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

  • Provision of appropriate facilities
  • Having contacts within key markets
  • Ensuring pricing policy is appropriate

    • IBISWorld analysts also discuss how external factors such as Median age of the population and Private health insurance membership in the Eye Surgery Clinics industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Eye Surgery Clinics Industry?

    Industry firms primarily conduct eye surgery. This includes laser eye surgery and other procedures for both treatment and enhancement purposes.

    Industry Products
  • LASIK surgery
  • ASLA, PRK and LASEK surgery
  • Other procedures
  • Cataract surgery
    • Industry Activities
  • Cataract removal
  • Corrective eye surgery
  • Other eye surgery
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Median age of the population
  • Private health insurance membership
  • Consumer sentiment index
  • Real household discretionary income
  • Total visits to a general practitioner

    • Current Performance
  • Ageing population
  • Consumer trends
  • Private health
  • Participation and profit
  • Chart: Revenue Growth

    • Industry Outlook
  • Rising age and health cover
  • Consumer trends
  • Participation and wages
  • Medicare and profitability
  • Table: Eye Surgery Clinics Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Eye Surgery Clinics Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Health Insurance
  • Central Government Administration
  • General Practice Medical Services
  • Optometry and Optical Dispensing
  • Consumers

    • Key Selling Industries
  • Commercial Cleaning Services
  • Cosmetics and Toiletry Wholesaling
  • Medical and Surgical Equipment Manufacturing
  • Pharmaceuticals Wholesaling

    • Products & Services
  • LASIK surgery
  • Cataract surgery
  • Other procedures
  • ASLA, PRK and LASEK surgery
  • Chart: Eye Surgery Clinics Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • People aged 25 to 44
  • People aged 65 and over
  • People aged 45 to 64
  • People aged 24 and under
  • Chart: Major Market Segmentation for the Eye Surgery Clinics Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Eye Surgery Clinics

    • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Eye Surgery Clinics Industry

    • Industry Globalization

    Major Companies

    Vision Eye Institute Limited,
  • Table: Vision Eye Institute Limited - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Eye Surgery Clinics Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Eye Surgery Clinics Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Advanced Surface Laser Ablation (Asla)
  • Refractive surgery that uses a solution to remove the cell layer on the surface of the cornea, and then remodels the cornea by applying lasers to the surface of the cornea.
    • Cornea
  • The transparent front layer of the eye that covers the iris, pupil and anterior chamber.
    • Laser-Assisted In Situ Keratomileusis (Lasik)
  • Refractive surgery that removes a flap of the outer layer of the cornea and remodels the cornea by applying lasers to the stroma.
    • Lens
  • Transparent, biconvex structure beneath the cornea that helps refract light to be focused on the retina.
    • Retina
  • Layer of tissue lining the inner surface of the eye that transmits vision through the optic nerve to the brain.
    • What Our Customers Say
    Why buy this report?

    The Eye Surgery Clinics market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    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 Eye Surgery Clinics:
    • 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 Eye Surgery Clinics 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 Eye Surgery Clinics, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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