Industry Analysis & Industry Trends
The revenue of the Online Glasses and Contact Lens Retailing industry is expected to grow at a compound annual rate of 12.7% over the five years through 2015-16, reaching £209.2 million. This includes growth of 6.6% in 2015-16. This rapid expansion was made possible by a relaxation in the law governing the sale of glasses and contact lenses in 2005. Opticians writing eye prescriptions cannot require their patients to purchase contact lenses, glasses or other industry products at the end of a consultation. Greater awareness of this has encouraged more consumers to fulfil their prescriptions more cheaply online.
However, the industry has faced strong competition from large, well-established bricks-and-mortar retailers, which are not covered in the industry... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry is estimated to have a relatively low level of market share concentration, with the largest three firms accounting for 17.2% of industry revenue. The industry has only reached the mass market in the past decade. It is growing extremely quickly and new operators are still entering the market in their droves. In these conditions, no single operator has been able to become dominant, and the largest firm is only estimated to account for 7.1% of total industry revenue.
The Online Glasses and Contact Lens Retailing industry is expected to become more concentrated over the coming five years as the larger firms capture a larger share of the market. Acquisitions and organic growth mean both of the leading industry operators have grown faster than the industry as a whole.
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