m
Recent Posts
Connect with:
Saturday / November 2.
HomeminewsUS Reports Positive Optometric Growth

US Reports Positive Optometric Growth

The United States optometric industry has grown, and in-person purchasing of eyewear and contact lenses has increased, according to a survey of 12,063 adults in the United States undertaken by The Vision Council in the first quarter of 2024.

The Vision Council released two new reports offering a comprehensive view of the local US optical industry: the Market inSights Q1 2024 and Consumer inSights Q1 2024. The reports feature market data and analysis estimating the performance of the optical industry, and highlighting consumer behaviour related to managed vision care, eye exams, spectacles, frames, lenses, contact lenses, readers, and plano sunglasses.

“The Vision Council’s latest research, based on transaction data and survey responses, indicates that industry growth in the first quarter of 2024 is slightly stronger than forecasted,” said Alysse Henkel, Vice President of Data, and inSights at The Vision Council.

She said increased spending and the higher number of exams conducted during quarter one “led to an improvement in the annual total market value forecast, shifting from an anticipated 0.33% decline to a 0.68% increase”.

Consumer survey findings show increased inperson purchases for eyewear and contact lenses in quarter one, with overall eyewear and contact lens purchases reaching their highest rate in the past two years. The online purchase rate for glasses dropped to 14% after holding steady at 16% through all of 2023.

ADDITIONAL FINDINGS

Additional findings signal a positive future for bricks and mortar optometry stores:

  • The contact lens market continued its growth to a value of US$3.14 billion. Within the last year, 78% of contact lens users made a purchase.
  • Over 17 million pairs of frames were sold, and of those who made a recent purchase, 86% said they bought in-person while 14% said they bought their eyewear online.
  • Consumers purchased more than 51 million pairs of readers. Those with a recent purchase were likely to buy more than one pair, and 52% reported purchasing multiple pairs in their last purchase.

The Market inSights Q1 2024 report estimates were based on a variety of data sources, including consumer retail expenditure data, patient billing and payment data, and optical retail location data, along with an updated consumer survey program. The Vision Council said advanced analytics, using a modern data infrastructure, were applied with methodological rigor to develop the market model from these comprehensive sources.

The Vision Council’s Consumer inSights Q1 2024 findings were the result of a survey that included questions about vision correction, managed vision care, eye exams, prescription eyewear, reading glasses, and plano sunglasses.

The full reports are available in The Vision Council’s Research download centre. Visit: thevisioncouncil.org/optical-market-research.

Reference

The Vision Council, Market Insights Quarterly Report – 2024 Q1. Available at: thevisioncouncil.org/product/market-insightsquarterly- report-2024-q1 [accessed June 2024].

DECLARATION

DISCLAIMER : THIS WEBSITE IS INTENDED FOR USE BY HEALTHCARE PROFESSIONALS ONLY.
By agreeing & continuing, you are declaring that you are a registered Healthcare professional with an appropriate registration. In order to view some areas of this website you will need to register and login.
If you are not a Healthcare professional do not continue.