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The 2009 Report on Medical Equipment and Supplies: World Market Segmentation by City
ICON Group International, May 2009, Pages: 341
Market Potential Estimation Methodology
Overview
This study covers the world outlook for medical equipment and supplies across more than 2000 cities. For the year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the city in question (in millions of U.S. dollars), the percent share the city is of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a city vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all of the cities of the world). This study gives, however, my estimates for the worldwide latent demand, or the P.I.E. for medical equipment and supplies. It also shows how the P.I.E. is divided across the world’s cities. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
What is Latent Demand and the P.I.E.?
The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand for medical equipment and supplies is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a city market.
Another reason why sales do not equate to latent demand is exchange rates. In this report, all figures assume the long-run efficiency of currency markets. Figures, therefore, equate values based on purchasing power parities across countries. Short-run distortions in the value of the dollar, therefore, do not figure into the estimates. Purchasing power parity estimates of country income were collected from official sources, and extrapolated using standard econometric models. The report uses the dollar as the currency of comparison, but not as a measure of transaction volume. The units used in this report are: US $ mln.
For reasons discussed later, this report does not consider the notion of “unit quantities”, only total latent revenues (i.e., a calculation of price times quantity is never made, though one is implied). The units used in this report are U.S. dollars not adjusted for inflation (i.e., the figures incorporate inflationary trends) and not adjusted for future dynamics in exchange rates (i.e., the figures reflect average exchange rates over recent history). If inflation rates or exchange rates vary in a substantial way compared to recent experience, actually sales can also exceed latent demand (when expressed in U.S. dollars, not adjusted for inflation). On the other hand, latent demand can be typically higher than actual sales as there are often distribution inefficiencies that reduce actual sales below the level of latent demand.
As mentioned earlier, this study is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. If fact, all the current products or services on the market can cease to exist in their present form (i.e., at a brand-, R&D specification, or corporate-image level) and all the players can be replaced by other firms (i.e., via exits, entries, mergers, bankruptcies, etc.), and there will still be an international latent demand for medical equipment and supplies at the aggregate level. Product and service offering details, and the actual identity of the players involved, while important for certain issues, are relatively unimportant for estimates of latent demand.
The Methodology
In order to estimate the latent demand for medical equipment and supplies on a city-by-city basis, I used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, I heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption. Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium in realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, John Meynard Keynes conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. This type of consumption function is labeled 'A' in the figure below (note the rather flat slope of the curve). In the 1940s, another macroeconomist, Simon Kuznets, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries). This type of consumption function is show as 'B' in the figure below (note the higher slope and zero-zero intercept). The average propensity to consume is constant.
Is it declining or is it constant? A number of other economists, notably Franco Modigliani and Milton Friedman, in the 1950s (and Irving Fisher earlier), explained why the two functions were different using various assumptions on intertemporal budget constraints, savings, and wealth. The shorter the time horizon, the more consumption can depend on wealth (earned in previous years) and business cycles. In the long-run, however, the propensity to consume is more constant. Similarly, in the long run, households, industries or countries with no income eventually have no consumption (wealth is depleted). While the debate surrounding beliefs about how income and consumption are related and interesting, in this study a very particular school of thought is adopted. In particular, we are considering the latent demand for medical equipment and supplies across some 230 countries. The smallest have fewer than 10,000 inhabitants. I assume that all of these counties fall along a 'long-run' aggregate consumption function. This long-run function applies despite some of these countries having wealth, current income dominates the latent demand for medical equipment and supplies. So, latent demand in the long-run has a zero intercept. However, I allow firms to have different propensities to consume (including being on consumption functions with differing slopes, which can account for differences in industrial organization, and end-user preferences).
Given this overriding philosophy, I will now describe the methodology used to create the latent demand estimates for medical equipment and supplies. Since ICON Group has asked me to apply this methodology to a large number of categories, the rather academic discussion below is general and can be applied to a wide variety of categories, not just medical equipment and supplies.
Step 1. Product Definition and Data Collection
Any study of latent demand across countries requires that some standard be established to define “efficiently served”. Having implemented various alternatives and matched these with market outcomes, I have found that the optimal approach is to assume that certain key countries or cities are more likely to be at or near efficiency than others. These are given greater weight than others in the estimation of latent demand compared to others for which no known data are available. Of the many alternatives, I have found the assumption that the world’s highest aggregate income and highest income-per-capita markets reflect the best standards for “efficiency”. High aggregate income alone is not sufficient (i.e., China has high aggregate income, but low income per capita and can not assumed to be efficient). Aggregate income can be operationalized in a number of ways, including gross domestic product (for industrial categories), or total disposable income (for household categories; population times average income per capita, or number of households times average household income per capita). Brunei, Nauru, Kuwait, and Lichtenstein are examples of countries with high income per capita, but not assumed to be efficient, given low aggregate level of income (or gross domestic product); these countries have, however, high incomes per capita but may not benefit from the efficiencies derived from economies of scale associated with large economies. Only countries with high income per capita and large aggregate income are assumed efficient. This greatly restricts the pool of countries to those in the OECD (Organization for Economic Cooperation and Development), like the United States, or the United Kingdom (which were earlier than other large OECD economies to liberalize their markets).
The selection of countries is further reduced by the fact that not all countries in the OECD report industry revenues at the category level. Countries that typically have ample data at the aggregate level that meet the efficiency criteria include the United States, the United Kingdom and in some cases France and Germany.
Latent demand is therefore estimated using data collected for relatively efficient markets from independent data sources (e.g. Euromonitor, Mintel, Thomson Financial Services, the U.S. Industrial Outlook, the World Resources Institute, the Organization for Economic Cooperation and Development, various agencies from the United Nations, industry trade associations, the International Monetary Fund, and the World Bank). Depending on original data sources used, the definition of “medical equipment and supplies” is established. In the case of this report, the data were reported at the aggregate level, with no further breakdown or definition. In other words, any potential product or service that might be incorporated within medical equipment and supplies falls under this category. Public sources rarely report data at the disaggregated level in order to protect private information from individual firms that might dominate a specific product-market. These sources will therefore aggregate across components of a category and report only the aggregate to the public. While private data are certainly available, this report only relies on public data at the aggregate level without reliance on the summation of various category components. In other words, this report does not aggregate a number of components to arrive at the “whole”. Rather, it starts with the “whole”, and estimates the whole for all cities and the world at large (without needing to know the specific parts that went into the whole in the first place).
Given this caveat, this study covers “medical equipment and supplies” as defined by the North American Industrial Classification system or NAICS (pronounced “nakes”). For a complete definition of medical equipment and supplies, please refer to the Web site at http://www.icongrouponline.com/codes/NAICS.html. The NAICS code for medical equipment and supplies is 33911. It is for this definition of medical equipment and supplies that the aggregate latent demand estimates are derived. “Medical equipment and supplies” is specifically defined as follows:
33911
This industry comprises establishments primarily engaged in manufacturing medical equipment and supplies. Examples of products made by these establishments are laboratory apparatus and furniture, surgical and medical instruments, surgical appliances and supplies, dental equipment and supplies, orthodontic goods, dentures, and orthodontic appliances.
339111
This U.S. industry comprises establishments primarily engaged in manufacturing laboratory apparatus and laboratory and hospital furniture (except dental). Examples of products made by these establishments are hospital beds, operating room tables, laboratory balances and scales, furnaces, ovens, centrifuges, cabinets, cases, benches, tables, and stools.
3391110
LABORATORY APPARATUS AND FURNITURE
33911101
Laboratory apparatus and furniture
3391110110
Laboratory and scientific apparatus
3391110111
Laboratory balances and scales with sensitivity of 5 centigrams or better
3391110113
Laboratory balances and scales with sensitivity of less than 5 centigrams units . S MA334B
3391110115
Laboratory furnaces and ovens
3391110117
Laboratory centrifuges, table~top type
3391110119
Laboratory centrifuges, floor type
3391110121
Laboratory distillation apparatus and rectifying apparatus
3391110123
Laboratory vacuum pumps (including value of drivers, and including replacement parts)
3391110125
Laboratory sterilizers and autoclaves
3391110127
Laboratory filtering or purifying apparatus
3391110129
Laboratory burners and hot plates
3391110131
Laboratory heat exchangers
3391110133
Laboratory granulators, mills, and other particle size reduction apparatus
3391110135
Laboratory drying and evaporation apparatus
3391110137
Laboratory blenders, mixers, shakers, dispensers, fraction collectors, and other liquid sample preparation apparatus
3391110139
Laboratory incubators
3391110141
Environmental test chambers
3391110143
Laboratory freezers
3391110145
Microtomes
3391110151
All other laboratory apparatus, n.e.c. (excluding analytical instruments)
3391110155
Components, parts and accessories for laboratory equipment (sold separately)
33911102
Laboratory furniture and parts sold separately
3391110230
Laboratory furniture and parts sold separately
3391110231
Laboratory furniture, including cabinets, cases, benches, tables, stools, reagent shelves, etc. (excluding drafting tables)
3391110233
Parts and components for laboratory furniture (sold separately)
3391111
Laboratory apparatus
3391112
Laboratory furniture
3391114
HOSPITAL BEDS
33911141
Hospital beds
3391114100
Hospital beds
3391116
HOSPITAL FURNITURE
33911161
Hospital furniture
3391116102
Hospital operating room furniture, including cabinets, cases, and tables
3391116105
Hospital patient room furniture, including cabinets, desks, dressers, and over_bed tables (excluding beds and chairs)
3391116109
Other hospital furniture, including back rests, bassinets, cases, chart racks, and other tables (excluding hospital beds, operating room furniture, and patient room furniture)
3391118
LABORATORY APPARATUS AND FURNITURE
33911181
Laboratory furniture and parts sold separately
3391118120
Laboratory furniture and parts sold separately
33911182
Laboratory and scientific apparatus
3391118240
Laboratory and scientific apparatus
339111M
Miscellaneous receipts
339111P
Primary products
339111S
Secondary products
339111SM
Secondary products and miscellaneous receipts
339112
This U.S. industry comprises establishments primarily engaged in manufacturing medical, surgical, ophthalmic, and veterinary instruments and apparatus (except electrotherapeutic, electromedical and irradiation apparatus). Examples of products made by these establishments are syringes, hypodermic needles, anesthesia apparatus, blood transfusion equipment, catheters, surgical clamps, and medical thermometers.
3391120
SURGICAL AND MEDICAL INSTRUMENTS
33911201
Orthopedic and surgical instruments
3391120101
Surgical instruments, including suture needles and ear, eye, nose, and throat instruments
3391120106
Orthopedic instruments, excluding ear, eye, nose, and throat instruments
33911202
Medical and surgical diagnostic apparatus, excluding electromedical diagnostic apparatus
3391120211
Medical and surgical metabolism and blood pressure diagnostic apparatus, excluding electromedical diagnostic apparatus
3391120216
Other medical and surgical diagnostic apparatus (including optical diagnostic apparatus), excluding electromedical diagnostic apparatus
33911203
Medical and surgical syringes and hypodermic needles
3391120321
Medical and surgical syringes
3391120326
Medical and surgical hypodermic needles
33911204
Medical and surgical blood transfusion and IV equipment, including blood donor kits
3391120431
Medical and surgical blood transfusion and IV equipment, including blood donor kits
33911205
Medical and surgical catheters
3391120536
Medical and surgical catheters
33911206
Other medical and surgical apparatus and instruments, excluding parts
3391120641
Medical and surgical anesthetic apparatus and instruments
3391120646
Medical and surgical bone nails, plates, and screws, and other internal fixation devices
3391120651
Medical and surgical mechanical therapy apparatus
3391120671
Other medical and surgical apparatus and instruments, excluding parts
33911207
Parts for medical and surgical apparatus and instruments
3391120766
Parts for medical and surgical apparatus and instruments
3391121
Surgical and medical instruments, except furniture
33911211
Surgical, medical, and orthopedic instruments
3391121101
Surgical and medical instruments, including suture needles, eye, ear, nose, and throat instruments
3391121106
Orthopedic instruments, excluding eye, ear, nose, and throat instruments
33911212
Diagnostic apparatus
3391121211
Metabolism and blood pressure diagnostic apparatus
3391121216
Other diagnostic apparatus, including optical diagnostic apparatus
33911213
Syringes and hypodermic needles
3391121321
Surgical and medical syringes
3391121326
Surgical and medical hypodermic needles
33911214
Surgical and medical blood transfusion, IV equipment, and donor kits
3391121431
Surgical and medical blood transfusion, IV equipment, and donor kits
33911215
Surgical and medical catheters
3391121536
Surgical and medical catheters
33911216
Other surgical and medical instruments
3391121641
Surgical and medical anesthesia apparatus and instruments
3391121646
Surgical and medical bone plates, screws, and nails, and other internal fixation devices or appliances
3391121651
Surgical and medical mechanical therapy appliances
3391121656
Medical thermometers
3391121661
Other surgical and medical instruments
33911217
Parts for surgical and medical instruments and apparatus
3391121766
Parts for surgical and medical instruments and apparatus
3391123
HOSPITAL FURNITURE
33911231
Hospital furniture
3391123106
Operating room furniture, including tables, cases, cabinets, etc
3391123111
Patient room furniture, including cabinets, overbed tables, desks, dressers, etc., but excluding beds and chairs
3391123116
Other hospital furniture, excluding operating and patient room furniture, beds, and instruments
339112M
Miscellaneous receipts
339112P
Primary products
339112S
Secondary products
339112SM
Secondary products and miscellaneous receipts
339113
This U.S. industry comprises establishments primarily engaged in manufacturing surgical appliances and supplies. Examples of products made by these establishments are orthopedic devices, prosthetic appliances, surgical dressings, crutches, surgical sutures, and personal industrial safety devices (except protective eyewear).
3391131
Surgical, orthopedic, prosthetic, and therapeutic appliances and supplies
33911311
Orthopedic and prosthetic artificial joints and limbs
3391131101
Orthopedic and prosthetic artificial joints
3391131104
Orthopedic and prosthetic artificial limbs
33911312
All other orthopedic and prosthetic appliances
3391131207
Orthopedic and prosthetic mechanical braces
3391131211
Orthopedic and prosthetic elastic braces, suspensories, and other elastic supports
3391131214
Orthopedic and prosthetic elastic stockings
3391131217
Orthopedic and prosthetic surgical corsets
3391131221
Orthopedic and prosthetic splints and trusses
3391131224
Orthopedic and prosthetic crutches, canes (orthopedic), and other walking assistance devices
3391131227
Orthopedic and prosthetic arch supports and other foot appliances
3391131231
Orthopedic and prosthetic intraocular lenses, orthopedic and prosthetic appliances
3391131234
Other orthopedic and prosthetic appliances
33911313
Surgical dressings
3391131337
Surgical dressings, elastic bandages
3391131341
Surgical dressings, other bandages, including muslin, plaster of paris, etc, excluding self~adhering bandages
3391131344
Surgical dressings, adhesive plaster, medicated and nonmedicated, including self~adhering bandages
3391131347
Surgical dressings, gauze (absorbent and packing)
3391131351
Surgical dressings, cotton, including cotton balls (sterile and nonsterile)
3391131354
Other surgical dressings, including sponges, compresses, pads, etc
33911314
Disposable surgical drapes, including O/B and O/R packs
3391131457
Disposable surgical drapes, including O/B and O/R packs
33911315
All other surgical and orthopedic items
3391131567
Sterile surgical sutures
3391131571
Breathing devices, excluding anesthetic apparatus but including incubators, respirators, resuscitators, inhalators, etc
3391131574
Patient transport devices, wheelchairs
3391131577
Other patient transport devices, including stretchers, tables, etc., except wheelchairs
3391131581
Therapeutic appliances and supplies, hydrotherapy equipment, including full body and limb tanks (portable and stationary)
3391131584
Other therapeutic appliances and supplies, excluding electromedical
3391131587
Surgical kits
3391131591
Other surgical and orthopedic products, nec
3391131594
Parts for surgical, orthopedic, prosthetic, and therapeutic appliances and supplies
33911316
All other surgical and orthopedic items
3391132
MEDICAL AND SURGICAL APPLIANCES AND SUPPLIES, INCLUDING ORTHOPEDIC, PROSTHETIC, AND THERAPEUTIC APPLIANCES AND SUPPLIES
33911321
Artificial joints and limbs
3391132101
Artificial joints
3391132104
Artificial limbs
33911322
Other orthopedic and prosthetic appliances
3391132207
Orthopedic and prosthetic mechanical braces
3391132211
Orthopedic and prosthetic elastic braces, suspensories, and supports
3391132214
Orthopedic and prosthetic elastic stockings
3391132221
Orthopedic and prosthetic splints and trusses
3391132224
Orthopedic and prosthetic crutches, canes, and other walking assistance appliances
3391132227
Orthopedic and prosthetic arch supports and other foot appliances
3391132231
Intraocular lenses
3391132235
Other orthopedic and prosthetic appliances, including surgical corsets
33911323
Surgical dressings
3391132337
Surgical dressings, elastic bandages
3391132341
Surgical dressings, other bandages, including muslin and plaster of Paris, excluding self_adhering bandages
3391132344
Surgical dressings, adhesive plaster, medicated and nonmedicated, including self_adhering bandages
3391132347
Surgical dressings, gauze, absorbent and packing
3391132351
Surgical dressings, cotton, sterile and nonsterile, including cotton balls
3391132354
Other surgical dressings, including compresses, pads, and sponges
33911324
Disposable surgical drapes, including obstetric and operating room packs
3391132457
Disposable surgical drapes, including obstetric and operating room packs
3391132581
Hydrotherapy appliances, including full_body and limb tanks
3391132584
Other therapeutic appliances and supplies, excluding electromedical and hydrotherapy appliances and supplies
3391132587
Surgical kits
3391132588
Stents
3391132592
Other medical and surgical appliances and supplies, excluding parts
3391132594
Parts for medical and surgical appliances and supplies
33911326
Other medical and surgical appliances and supplies
3391132667
Sterile surgical sutures
3391132669
Rubber medical and surgical gloves, including rubber household gloves
3391132671
Breathing devices (including incubators, inhalators, respirators, and resuscitators), excluding anesthetic apparatus
3391132674
Wheelchairs
3391132677
Other patient transport devices (including stretchers, tables, and wheeled chairs), excluding wheelchairs
3391135
Personal industrial safety devices
33911351
Personal industrial safety devices
3391135101
Personal industrial safety devices, respiratory protection equipment, including gas masks, abrasive masks, canister masks, etc
3391135106
Personal industrial safety devices, helmets (hardhats)
3391135111
Personal industrial safety devices, eye and face protection devices (face shields, welding helmets, masks), excluding industrial goggles and eye protectors
3391135116
Personal industrial safety devices, protective clothing, except shoes
3391135121
First aid, snake bite, and burn kits, both household and industrial types
3391135126
Other personal safety devices, including motorcycle and auto racing helmets
3391136
PERSONAL INDUSTRIAL AND NONINDUSTRIAL SAFETY EQUIPMENT AND CLOTHING
33911361
Personal industrial and nonindustrial safety equipment and clothing
3391136101
Respiratory protection equipment, including abrasive masks, canister masks, and gas masks
3391136106
Industrial helmets (hardhats)
3391136111
Eye and face protection equipment, including face shields, masks, and welding helmets (excluding eye protectors and industrial goggles)
3391136114
Industrial rubber gloves
3391136116
Other protective clothing (except footwear and gloves), including rubber and rubberized protective clothing
3391136121
First aid, snake bite, and burn kits, including household and industrial kits
3391136131
Other personal safety equipment, including life preservers (buoys, jackets, and vests) (except cork life preservers), and auto racing and motorcycle helmets
3391137
HOSPITAL BEDS
33911371
Hospital beds
3391137100
Hospital beds
339113M
Miscellaneous receipts
339113P
Primary products
339113S
Secondary products
339113SM
Secondary products and miscellaneous receipts
339114
This U.S. industry comprises establishments primarily engaged in manufacturing dental equipment and supplies used by dental laboratories and offices of dentists, such as dental chairs, dental instrument delivery systems, dental hand instruments, and dental impression material and dental cements.
3391141
DENTAL PROFESSIONAL EQUIPMENT AND SUPPLIES
33911411
Dental professional equipment
3391141101
Dental chairs
3391141106
Dental instrument delivery systems (dental units)
3391141111
Dental hand pieces
3391141116
Dental hand instruments, including broaches, cutting instruments, forceps, and pliers
3391141121
Other dental professional equipment, including dental lasers (excluding X_ray equipment)
33911412
Dental professional supplies
3391141226
Dental tools for use with dental hand pieces, including burs, disks, abrasive points, diamond points, and wheels
3391141231
Dental alloys for amalgams
3391141236
Dental impression materials, including alginates and silicones
3391141241
Dental cements and other nonmetallic filling materials
3391141246
Other dental professional supplies
3391143
DENTAL LABORATORY EQUIPMENT AND SUPPLIES
33911431
Dental laboratory equipment and supplies
3391143101
Dental laboratory equipment, including benches, blow pipes, casting machines, flasks, furnaces, lathes, polishing units, and presses
3391143106
Precious dental metals, including gold, platinum, and silver
3391143111
Nonprecious dental metals
3391143116
Artificial teeth not customized for individual application, excluding dentures
3391143121
Other dental laboratory supplies, including gypsums and waxes, bridges, crowns, dentures, and other orthodontic appliances (except artificial teeth) not customized for individual application
3391145
Dental professional equipment and supplies
339114511
Dental professional equip., incl. dental chairs, units, hand pieces, excl. X-ray
33911452
Dental professional supplies
3391146
Dental laboratory equipment and supplies
339114M
Miscellaneous receipts
339114P
Primary products
339114S
Secondary products
339114SM
Secondary products and miscellaneous receipts
339115
This U.S. industry comprises establishments primarily engaged in manufacturing ophthalmic goods. Examples of products made by these establishments are prescription eyeglasses (except manufactured in a retail setting), contact lenses, sunglasses, eyeglass frames, and reading glasses made to standard powers, and protective eyewear.
3391151
Eyeglass frames (without lenses inserted) and frame parts
33911511
Ophthalmic fronts and temples
3391151101
Ophthalmic plastics finished fronts
3391151106
Other ophthalmic finished fronts
3391151111
Plastic ophthalmic temples
3391151116
Other ophthalmic temples
3391151121
Ophthalmic temples
3391152
Glass ophthalmic focus lenses
3391153
Plastic ophthalmic focus lenses
33911531
Ophthalmic glass focal lenses
3391153101
Ophthalmic single_vision glass eyeglass lenses (including semifinished lenses, ground and polished lenses, and finished lenses), excluding prescription ground eyeglass lenses and molded lens blanks
3391153106
Ophthalmic multifocal glass eyeglass lenses (including semifinished lenses, ground and polished lenses, and finished lenses), excluding prescription ground eyeglass lenses and molded lens blanks
339115325
Single vision plastic lenses
339115327
Multifocal plastic lenses
3391154
Contact lenses
339115412
Hard contact lenses
339115413
Soft contact lenses
3391155
Other ophthalmic goods
33911551
Ophthalmic single_vision plastics eyeglass lenses (including semifinished, ground and polished, and finished lenses), excluding prescription ground eyeglass lenses and molded lens blanks
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