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Eye Glasses & Contact Lens Stores in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Eye Glasses & Contact Lens Stores Market Research Report | NAICS 44613 | Nov 2016

Clearer vision: Favorable demographics and demand for luxury brands will drive growth

IBISWorld’s Eye Glasses & Contact Lens Stores market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$12bn
Annual Growth 11-16
1.4%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
90,253
Businesses
15,932
Industry Threats & Opportunities
  • The industry’s major market of senior adults will grow, driving industry demand
  • Due to high competition, stores are employing in-house optometrists to stand out
  • Growing demand for corrective eyewear from individuals who have chronic diseases will increase revenue
  • ... purchase to read more

Industry Analysis & Industry Trends

Healthcare reform and favorable demographic changes will benefit the industry in the years to come. The aging US population will continue to drive demand for prescription eyewear, especially as consumers continue to work at computer-related jobs. Eyewear retailers will also benefit from the healthcare reform bill, which will give more people access to vision care and boost demand. To ward off competition from online and alternative retailers, operators will increasingly offer eye exams given by in-house optometrists... ... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

Eyewear stores operate in an established industry with moderate growth and modest technological development. During the 10 years to 2021, industry value added (IVA), which measures the industry's contribution to the overall economy, is expected to grow at an annualized rate of 2.3%; meanwhile, GDP is forecast to grow at an annualized rate of 2.1%. While the industry is growing at a faster pace compared with the overall economy, this trend can be attributed to rising industry consolidation.

The industry is approaching high market saturation, which has facilitated industry consolidation over the 10-year period. A wave of acquisitions by the industry's largest retailer, Luxottica, has led to a significant increase in the company's market share. Thi.. ... purchase to read more

Additional Insights for the Eye Glasses & Contact Lens Stores Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Eye Glasses & Contact Lens Stores Industry are

  • Ability to control stock on hand
  • Ability to franchise operations
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Number of adults aged 50 and older in the Eye Glasses & Contact Lens Stores industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Eye Glasses & Contact Lens Stores Industry?

    Establishments in this industry sell eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. These retail stores may also provide fitting and lens processing services. The industry excludes the manufacture of lenses, online and mail-order retail of optical goods and sales at optometrists’ offices.

    Industry Products
    Nonprescription eyewearEye examinationsContact lensesPrescription eyeglassesOther optical goods
     
    Industry Activities
    Prescription eyeglass retailingContact lens retailingSunglass retailingOptical accessories retailingIn-house lens processingLens grinding


    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
  • Per capita disposable income
  • Number of adults aged 50 and older
  • Demand from optometrists
  • External competition for the Eye Glasses & Contact Lens Stores industry
  • Federal funding for Medicare and Medicaid
  • Percentage of households with at least one computer
  • Current Performance
  • Changes in purchasing behavior
  • Industry structure
  • Changing demographics
  • Chart: Revenue Growth
  • Industry Outlook
  • Changes in purchasing behavior
  • Industry structure
  • Table: Eye Glasses & Contact Lens Stores Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Eye Glasses & Contact Lens Stores Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Consumers
  • Key Selling Industries
  • Glasses & Contact Lens Manufacturing
  • Glasses & Contacts Wholesaling
  • Optometrists
  • Products & Services
  • Prescription eyeglasses
  • Nonprescription eyewear
  • Contact lenses
  • Other optical goods
  • Eye examinations
  • Chart: Eye Glasses & Contact Lens Stores Industry Products and Services Segmentation
  • Demand Determinants
  • Disposable income and insurance benefits
  • Major Markets
  • Direct patient payments
  • VSPs
  • Government programs
  • Private medical insurers
  • Self-directed vision plans
  • Other
  • Chart: Major Market Segmentation for the Eye Glasses & Contact Lens Stores Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Eye Glasses & Contact Lens Stores
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Eye Glasses & Contact Lens Stores Industry
  • Industry Globalization
    Major Companies
    Luxottica Group S.p.A.
    National Vision Inc.
    Highmark Inc.
  • Table: Luxottica Group S.p.A. - financial performance
  • Table: National Vision Inc. - financial performance
  • Table: Highmark Inc. - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Eye Glasses & Contact Lens Stores 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 Eye Glasses & Contact Lens Stores Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Number of adults over 50 years old (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    Astigmatism
  • An eye condition that causes a disturbance in the way that light rays are focused within the eye.
  • Autorefractor
  • A machine used in eye exams that measures how light is changed as it enters the eye.
  • Cataract Surgery
  • An eye surgery that involves removing all or part of the lens and replacing it with an intraocular lens implant.
  • Electronic Data Interchange (Edi)
  • The transmission of electronic documents between businesses from one computer system to another.
  • Optometrist
  • Individuals that earn a Doctor of Optometry degree, perform eye exams, write prescriptions and dispense eyewear.
  • Phoropter
  • An instrument containing various lenses used to measure the patient's eyeglass or contact lens prescription.
  • Point-Of-Sale (Pos)
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • Slit Lamp
  • Used alongside a biomicroscope (a microscope used on the body) to magnify the eye and identify physical abnormalities.
  • Tonometer
  • Used to test for glaucoma in the eye, this instrument blows a small puff of air into the eye to test the pressure.

  • 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 Eye Glasses & Contact Lens Stores:
    • 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 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 Eye Glasses & Contact Lens Stores 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 Eye Glasses & Contact Lens Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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