May 29, 2024 — The Vision Council has released two new reports, Market inSights Q1 2024 and Consumer inSights Q1 2024, offering a detailed dive into the state of the industry for the first quarter of 2024. Based on transaction data and consumer surveys, the reports highlight consumer behavior related to managed vision care, eye exams, eyeglasses, frames, lenses, contact lenses, readers, and plano sunglasses and show slightly stronger industry growth than anticipated.

The following are some key findings from the reports:

• The annual total market value forecast for the optical industry shifted from an expected 0.33% decline to a 0.68% increase.
• In-person eyewear and contact lens purchases reached their highest rate in the past two years, with online purchases dropping to 14% after remaining at 16% through 2023.
• The contact lens market is currently valued at $3.14 billion, and 78% of contact lens wearers made a purchase within the past year.
• Over 20 million pairs of lenses and 17 million pairs of frames sold.
• Nearly 30 million comprehensive eye exams were conducted.
• Approximately 79% of respondents use a form of vision correction.
• The market value of plano sunglasses exceeded $3.6 billion.
• Consumers purchased over 51 million pairs of readers, and 52% reported purchasing multiple pairs in their last purchase.

The full reports are available here as a complimentary download for members and for nonmembers to purchase.