Industry Analysis & Industry Trends
Even when budgets are tight, consumers still need to address their medical issues. Therefore, the economic recovery is proving to be a boost for the industry, as those who have delayed eye examinations begin to make appointments again. Aging baby boomers and a rise in the number of insured individuals will likely aid business significantly for industry operators, but competition from eye glasses and contact lens stores threatens profit growth... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Though the Optometrists industry has been around for centuries, it is still growing. Over the 10 years to 2019, industry value added, which measures the industry's contribution to the economy, is expected to increase at an annualized rate of 0.8%. This expansion indicates that the industry will grow slower than the overall US economy; GDP is projected to rise 2.7% annually on average over the same period.
The US population is undergoing a shift in line with an expanding number of people aged 65 and older, creating a larger group of people prone to vision disorders. In the 10 years to 2019, the number of people aged 65 and older is expected to rise at an annualized rate of 2.9%... purchase to read more