Despite the economic uncertainty surrounding Brexit over the last year, revenue has been on the rise for the optics industry within Europe. During periods of economic turmoil, the optics sector has previously remained strong, proving itself with a robust performance thought the UK recession of 2008/2009. According to the research group Gfk, the key European optical markets of Germany, France, Spain and Italy have grown by a promising 7%. Together, the leading member states boasted an impressive turnover of over 17 billion Euros in 2015. This included revenue from product sectors such as sunglasses, lenses, frames, contact lenses and care products alone. Individually the countries have shown positive growth, with France ending the financial year with a growth of 3.8%, Italy 4.1%, Spain 10.5%, and Germany recording a staggering double-digit growth of 11.1% overall.
The spectacle lenses sector, which equates to 58% of the overall optics market, continued to grow by an encouraging 5% last year. Other sectors within the industry also showed significant growth by the end of the financial year of 2016. The market for contact lens grew by an excellent 6.7%, with contact lens care products by a rate of 6% and spectacle frames by 6.5%. Even the sunglasses sector continued to grow after its record slump in 2014 with an exceptional growth 6.5%. Needless to say, the optical industry has continued to do well and has shown no signs of weakness throughout the recent economic uncertainty.
There are many reasons which could explain the continuing strong growth of the optical industry within Europe. One reason for this strong increase has been explained by the senior group manager of optics research at Gfk, Till Herzog, as being down to "a robust unit sales growth of 5.8% and an increase in the average selling price of 1.8%... caused by a rise in the number of high quality lenses sold in the European spectacle market".
Several manufacturers have also noticed in increase in growth within the optical industry and have invested further into the sector as a result. In Germany, the increased growth of the optical industry has also been acknowledged by one of the country's leading manufacturer of lenses and frames, The Rodenstock Group. The top performing company has predicted another significant rise in sales in the financial year of 2017, suggesting that the sector could be set to continue growing over the next few years within Germany, and the rest of Europe.
There are many other factors which could promote the growth of the optical industry. Arguably one of the largest reasons is the increasing use of technology within our daily lives.
The increase of smart technology within our personal and professional world has lead to further research into the effect of UV and blue light on vision. Studies into the impact of smart technology on eyesight have shown a direct correlation between a high level of screen exposure and poor vision. Although the detrimental effects of UV light on the eyes has been known for some time, the negative effects of blue light are only now being discovered.
To date, research has shown that patients who are exposed to an ever-increasing amount of blue light (around 381 - 500 nanometers) require protection by wearing appropriate lens and coatings during periods of exposure. An increased need for the use of technology within professional working environments has lead to a high amount of blue light exposure for employees. As a result, many professional employers have taken to offering employees free eye care voucher in a bid to support and protect them from the increased perceived risk of deteriorating eyesight when working with UV and blue light technology.
Another significant but more natural cause for the increased growth of the optical industry could be a result of an ageing demographic within the country and the rest of Europe. As patients become older, the likelihood of needing optical support is naturally high. This therefore naturally increases the demand for optical services within an area with an older population, like Germany.
Similarly, it is thought that the increase in patients with chronic diseases, such as diabetes, has directly lead to industry growth by placing further demand on optical services within Europe. Patients who suffer which chronic diseases like diabetes can experience and suffer from vision problems as a resulting symptom of their illness. Patients are often prescribed lenses as well as continuing optical care to help ease their symptoms.
With so many factors placing a demand on optical services in Germany and the rest of Europe, the optical industry looks set to remain strong for quite some time. History has shown us that the sector is well equipped to remain strong despite the uncertain economic forecast ahead, and is set to only show continued exponential growth within the future.
With the future for the optical industry continuing to look so bright, what does all of this mean for talented prospective opticians?
All of this positive growth within the optical industry can only mean one thing: an increased availability of jobs for prospective opticians, particularly within Germany. In response to the above factors, many top companies within the country have recently been opening optician roles. Yet with so many candidates competing to become hired within Germany it can be difficult to ensure you stand as a strong candidate for the role and get noticed. This is why candidates wishing to take advantage of the current increased opportunity within the optics industry should consider using an direct hiring platform, like Endorsed, to enhance their job search.
If you are looking to land your next job within the optical sector with one of Germany's top companies, Endorsed can help. By providing a unique online networking platform, Endorsed is able to match candidates with the top employers within the industry.
Searching for a job can be a tiring and stressful process.
The experts at Endorsed can help support candidates throughout the entire hiring process. Upon signing up you will gain the opportunity to chat directly with your connections. You will receive job offers upfront from leading companies and get endorsed through a career network of professional connections. What's more, Endorsed allows you to schedule interviews to help make sure you secure an amazing new job.
It can also be difficult to make beneficial and professional connections to help get you noticed. Endorsed eradicated the old saying "it is not what you know, but who you know" by allowing you to easily get connected to top companies within the industry. Endorsed have a specialist team who work alongside some of the top companies within the optical sector in their bid to secure the best talent around.
Get in touch for more information.
Which came first, the chicken or the egg? Are ever-heavier and more complex consumers demanding spurring...