Jan. 19, 2022 — The Vision Council (TVC) has released its first set of industry estimates in the inaugural Market inSights 2022 Report, which utilizes new data sources and advanced analytics to summarize the eyecare industry from 2019 and forward through 2023 with reports on the following categories: exams, frames, lenses, contact lenses, plano sunglasses, and readers.
The following are some key takeaways from 2022, according to the report:
- The overall size of the optical retail industry was valued at $76.5 billion.
- There are more than 48,000 brick-and-mortar optical retail locations currently in business.
- With a value of $23.6 billion, lenses made up nearly one-third of the market.
- Totaling $12 billion, 98 million frames were sold.
- More than $15 billion was spent on eye exams, including both patient spending and managed vision care reimbursements.
- Contact lenses, bought online and in person, totaled $17.9 billion.
- Led by in-person sales, plano sunglasses and readers totaled $7.6 billion.
A supplementary Market inSights+ edition offers detailed demographic data.
The reports are available here as complimentary downloads for members and for nonmembers to purchase.
For more information: thevisioncouncil.org.