U.S. Ophthalmic Goods Market. Analysis And Forecast to 2025
U.S. Ophthalmic Goods Market Is Attractive for Overseas Suppliers, but Substantial Import Growth Tends to Stabilize
The U.S. dominates in global imports of ophthalmic goods, accounting for a 17% share (based on USD). It was followed by China (8%), Japan (7%), and Germany (7%). In 2015, imports of ophthalmic goods in the U.S. totaled 5,194 million USD, which was 6 million USD (0.1%) below the previous year's value.
From 2007 to 2015, U.S. ophthalmic goods imports showed steady growth, with the exception of a slight decline in 2009. The robust growth of imports stabilized in 2015. There was an annual increase of +5.1% throughout the analysed period. In 2010, imports of ophthalmic goods in the U.S. surpassed their pre-recession level of 2008.
Despite fierce competition, the U.S. continues to be one of the most attractive destinations for overseas suppliers.
China was the main supplier of ophthalmic goods into the U.S., with a 55% share of total U.S. imports in 2015. It was followed by Italy at 19%, the UK at 6%, and Mexico and Germany at 4% each. Imports from China displayed a substantial +6.0% annual growth. However, the UK (+13.1% per year) and Germany (+8.1% per year) were the fastest growing suppliers from 2007 to 2015.
From 2007 to 2015, the U.S. was a net importer of ophthalmic goods. However, exports grew faster than imports on average over the period under review.
The U.S. trade deficit in this sector showed mixed dynamics. However, there was an overall upward trend, with the trade deficit growing from 1,455 million USD in 2007 to 1,719 billion USD in 2015. It increased most substantially from 2013 to 2015.
Source: IndexBox AI Platform
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