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Optometrists in the US: Market Research Report

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

Optometrists Market Research Report | NAICS 62132 | Feb 2017

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

IBISWorld’s Optometrists 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
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$16bn
Annual Growth 12-17
2.7%
Annual Growth 17-22
Annual Growth
Profit
Profit
Employment
143,913
Businesses
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
  • ... purchase to read more

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... ... purchase to read more

Industry Report - Industry Products Chapter

According to a 2013 State of the Optometry Profession report (latest available data) by Jobson Medical Information LLC and AOA Excel, optometrists provide an estimated 88 million refractive eye exams each year. Furthermore, optometrists administer 84.6% of total refractive exams performed by all eyecare professionals in the United States, as well as 85.0% of all comprehensive exams and 90.0% of all prescribed vision correction devices.

Prescription eyewear

Prescription eyewear is anticipated to comprise 29.0% of industry revenue. According to the Optometric Profession report, about 26.5 million eyeglasses are sold by optometrists each year. Ove.. ... purchase to read more

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... purchase to read more

     


    Industry ProductsRelated Reports

    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 examsPrescription eyewearContact lenses
     
    Industry Activities
    Conduct eye examinationsDiagnose, manage and treat disorders of the eye and surrounding structuresPrescribe 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
  • 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 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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