VisionWatch report shows increase in vision care industry
The vision care market generated $43.39 billion in retail revenues in the year ending September 2019, according to VisionWatch, a survey conducted by the Vision Council.
This 2.4% increase over the previous year indicates a net increase of 1.5 million vision correction users year over year.
“As 2019 comes to a close, the results of the Q3 reports indicate that this has been a year of robust growth for the overall vision care market,” Steve Kodey, Vision Council senior director of industry research, said in the release.
As detailed in the report, the growth in revenue during this period was seen across all product categories. Eye exams trended positively with a 3.3% revenue growth, Internet sales continued to influence consumer habits with 7.35 million pairs purchased online, and independent eye care providers represented the largest segment of the vision community and reported a 2.6% increase in sales.
VisionWatch also found a net growth of 3.3 million adults covered by U.S. managed vision care plans as well as an increase in coverage for women, adults older than 35 years, adults with higher annual household incomes and people from the Northeast region of the U.S.