Contact Lenses in Australia

Nov 12, 2014 - Euromonitor International - 19 pages - USD $900
Abstract Table of Contents Request Details Related
The federal government announced its 2014/2015 budget in May 2014, which included a number of implications for optometry services. From January 2015, the government has reduced the Medical Benefits Schedule (MBS) rebate for all optometry services from 85% to 80%. Furthermore, the charging cap for optometrists has been removed, meaning they will be able to set their own fees in the future. Separately, the eligibility for MBS-rebatable comprehensive eye examinations has been changed from two to three years for asymptomatic people under 65 years of age. Asymptomatic people over the age of 65 will have yearly rather than two-yearly access to rebatable eye examinations.

Competitive Landscape

Johnson & Johnson Vision Care (Australia) led sales in contact lenses in 2013, accounting for a 38% retail value share. The company owns the leading contact lenses brand Acuvue, which is ranked first in both daily disposable lenses and weekly/monthly disposable lenses. Acuvue is a well-established and trusted brand in Australia and has benefitted from the demand for daily disposable contact lenses, where it holds a 47% retail value share.

Industry Prospects

The 2014/2015 federal budget may threaten the growth of contact lenses over the forecast period. From January 2015, the cost of visiting the optometrist could increase as the rebate is reduced from 85% to 80%, while the lifting of an existing charging cap may see optometrists setting their own prices. Additionally, the rebate for comprehensive eye examinations has been altered from two to three years for asymptomatic people under 65 years of age. These new measures may result in reduced visits to the optometrist for prescriptions and consumers opting to save money by either going online for their contact lens purchases or considering switching to spectacles, which would be a cheaper long-term option.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Contact Lenses industry in Australia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Contact Lenses industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Contact Lenses in Australia market research report includes:
  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
  • In which markets are daily disposables more popular than monthly and extended wear?
  • Is coloured, toric, spherical or multifocal the dominant type of contact lens in Australia?
  • Is style playing an increasingly important role over health in purchasing decisions?
Why buy this report?
  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

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About the Publisher
Euromonitor International is a world leading independent provider of business intelligence on industries, countries and consumers. Their business intelligence products include award-winning online information databases, market reports and business reference books. Founded in 1972, Euromonitor International is a privately owned company with offices in London, Chicago, Singapore, Shanghai and Vilnius. Euromonitor has a team of over 600 in-country analysts worldwide, giving them a unique capability to deliver high quality and reliable business information.