Overview

Clear vision: Healthcare reform and an aging population will keep industry growth strong

IBISWorld’s Optometrists market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$16bn
Annual Growth
12-17
2.7%
Annual Growth
17-22
Profit
Employment
143,913
Business
36,122

Industry Threats & Opportunities

  • Recent healthcare initiatives have expanded the pool of insured patients, supporting demand
  • Poor patient compliance with yearly eye examinations has hampered revenue growth
  • A rapidly aging population will accelerate demand for optometrist services

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    Industry Analysis & Industry Trends

    The Optometrists industry has exhibited growth over the past five years as a result of robust demand from the burgeoning elderly population. the elderly population's strong demand for cohesive eye exams has caused optometry services to expand, including the monitoring of diabetes-related ocular complications, ocular infections, dry eye, glaucoma and ocular allergy treatments. While intensifying competition from optical retailers, such as online retailers, has cut into the industry's ancillary product sales (e.g. prescription eyewear), medical care services have still provided a boon to the industry...

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    Industry Report - Starting a New Business Chapter

    There are moderate barriers to entry into the Optometrists industry. The cost to establish a new optometry practice typically ranges from $75,000 and $150,000, which can may result in significant capital outlay for new industry entrants. In 2012 (latest available data), according to data from Vision Monday, 49.0% of optometry practices used an electronic health record system, thereby adding to startup capital cost for new industry entrants. While only one in three optometry practices have websites that enable patients to access online appointment scheduling, more optometrists will likely implement this technology in the coming years, thereby posing as a barrier to potential industry entrants.

    ..

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    Additional Insights for the Optometrists Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Optometrists Industry are

  • Use of specialist equipment or facilities
  • Proximity to key markets
  • Maintenance of excellent customer relations
  • IBISWorld analysts also discuss how external factors such as Number of people with private health insurance and Percentage of services conducted online in the Optometrists industry impact industry performance..

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    Industry Products

    What is the Optometrists Industry?

    This industry includes practitioners with a Doctor of Optometry (OD) degree. ODs examine, diagnose, treat and manage diseases, injuries and disorders of the eye and associated structures. Operators may also prescribe and sell eyeglasses, contact lenses and vision therapy. These practitioners operate private or group practices in their own offices or in facilities like hospitals. The industry does not include ophthalmologists (i.e. medical doctors who are trained to perform eye surgery).

    Industry Products
    Eye exams
    Prescription eyewear
    Contact lenses
    Industry Activities
    Conduct eye examinations
    Diagnose, manage and treat disorders of the eye and surrounding structures
    Prescribe and sell eyeglasses and contact lenses

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Number of people with private health insurance
  • Percentage of services conducted online
  • Number of adults aged 65 and older
  • Total health expenditure
  • Federal funding for Medicare and Medicaid

  • Current Performance
  • Demand for optometry
  • Intensifying competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Eyeing an increase in demand
  • Healthcare reform
  • Table: Optometrists Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Optometrists Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Health & Medical Insurance
  • Health & Welfare Funds
  • Consumers

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Generic Pharmaceutical Manufacturing
  • Glasses & Contact Lens Manufacturing
  • Medical Device Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Navigational Instrument Manufacturing

  • Products & Services
  • Eye exams
  • Contact lenses
  • Prescription eyewear
  • Chart: Optometrists Industry Products and Services Segmentation

  • Demand Determinants
  • Access
  • Awareness of services
  • Demographics
  • Technological developments

  • Major Markets
  • Patients' out-of-pocket payments
  • Private insurers
  • Government payers
  • Other patient care revenue
  • Investment and property income
  • Chart: Major Market Segmentation for the Optometrists Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Optometrists

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Optometrists Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Optometrists Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Optometrists Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total health expenditure (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Medicaid
  • A jointly funded cooperative venture between the federal and state governments to assist states in the provision of medical care to those that need financial assistance
  • Medicare
  • A government program medical insurance for persons aged 65 and over and for certain disabled persons under 65.
  • Ophthalmologist
  • A physician that specializes in the study and treatment of defects and diseases of the eye.
  • Optician
  • A person who is trained to dispense prescriptions for eye correction.
  • Refractive Error
  • An error in the focusing of light by the eye and a frequent reason for reduced visual acuity.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Optometrists:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Optometrists market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Optometrists, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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