From Brazil to Japan

The ophthalmic market in a nutshell

Spotlight on USA

The overall size of the optical retail market in 2022 is $76.5 billion, including eye exams, frames, spectacle lenses, contact lenses, plano sunglasses, and readers. Spectacle lenses led the market by value, followed by contact lenses and exams. Spectacle lenses made up nearly one-third of the market with a value of $23.6 billion. Overall, there are more than 48,000 brick and mortar optical retail locations in the United States.

Source: The Vision Council

As different as the culture can be in different countries, so is the ophthalmic market. In one country luxury frames are the sales driver, in the next contact lenses. MAFO has taken a closer look at the markets in different countries around the world. Here you will find a brief and concise overview of important key figures.

By Hanna Diewald

48,000 Ophthalmic Optics in Numbers

There

Spotlight on Brazil

Brazil theoretically has great market potential. Only 34 million people in Brazil use vision aids. The Abióptica association estimates that the eyesight of slightly half of the Brazilian population is impaired. However, so far only one third of those affected use glasses and other vision correction measures. Another third have never seen an ophthalmologist. The market is recovering only slowly from the corona crisis. Ophthalmic exams and treatments deferred in the pandemic still do not reach 2019 numbers, which is stifling the market's recovery. The low purchasing power of lower and middle income groups due to high inflation is doing the rest.

TheeyesightofslightlyhalfoftheBrazilian populationisimpaired,butonlyonethird ofthoseaffecteduseglasses.

Source: Spectaris / GTAI / Abióptica

Spotlight on Italy

Source: Spectaris / GTAI

Spotlight on Japan

marketforluxurysunandprescription frames. There

70%

Italy holds about 70% of the world market for luxury sun and prescription frames and the country also manufactures them under license from most international fashion labels. The main manufacturers are Luxottica, Safilo, De Rigo and Marcolin. Overall, Italy's ophthalmic optics market includes some 850 companies employing 18,000 people, according to ANFAO. In 2021, Italy produced ophthalmic optics products of about 4.2 billion euros, about 35% more than in 2020. More than 90% goes abroad. About 30% of the goods go to the USA.

2.6

In Japan, demand for ophthalmic optics will grow robustly in the coming years. The aging population and the intensive use of electronic devices from an early age provide the basis for this. Statista expects average annual sales growth of 5.5% overall in the period 2022-2025. Although the population is declining here, the average prices per pair of glasses and contact lenses are increasing significantly. Per capita spending on vision care was approximately US$ 56 in 2022 and is expected to increase to approximately US$ 66 by 2025. Contact lenses are the strongest single segment in Japan's ophthalmic optics market in terms of sales. Statista expects sales of around US$ 2.6 billion in 2022. Daily disposable lenses dominate the market with two-thirds. The largest market shares of contact lenses are held by Johnson&Johnson (30%) followed by the Japanese company Menicon and the Swiss company Alcon.

Source: Spectaris / GTAI

Spotlight on Thailand

Local production of eyeglass lenses is on the rise in Thailand. Thai stores sold US$ 457 million worth of ophthalmic optics in 2021. Sunglasses are the largest segment of the industry and tourists are an important customer group. However, Thailand also has the second oldest population in Southeast Asia. Eye diseases and low vision are very likely to increase, and the market is likely to grow.

Source: Spectaris / GTAI