Slight Growth in Canada’s Optical Industry
Wednesday, January 21 2015 | 00 h 00 min | Latest News
From 2009 to 2014, the Canadian optical industry reported an average annual growth of 0.6%, including a 0.2% rise in 2014, according to IBISWorld.
The trend should continue over the next five years, the firm says. Canada’s industry revenue is expected to grow to CAN$1.9 billion. In 2014, contact lenses made up 28.7% of total revenue, with frames accounting for 32.4%.
A number of factors contribute to this growth:
- The ageing population increases the number of visits to optometrists;
- Consumers think of their frame as a fashion accessory, which means shorter replacement cycles and a rise in the sales of luxury frames;
- Provincial regulations make life more difficult for online eyewear retailers and protect the market share of opticians and optometrists (everywhere but in British Columbia).
For further information: http://www.ibisworld.ca/industry/eye-glasses-contact-lens-stores.html