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 impairment in Australia is due to refractive error, which is easily corrected.
While the nature of this industry's services means that there will always be a steady demand, competitive pressures are expected to soften revenue growth.
The Optometry and Optical Dispensing industry consists of establishments with registered optometrists mainly engaged in testing eyesight, diagnosing sight defects and prescribing or dispensing spectacles or contact lenses. It also includes establishments with optical dispensers, mainly engaged in dispensing spectacles or contact lenses, and registered orthoptists mainly engaged in diagnosing and treating ocular muscle disorders.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.