$23.4bn
$X.Xbn
166k
32,014
$X.Xbn
An aging population, rising awareness of eye health and growing incomes have driven growth for optometrists. Optometrists are essential in addressing the medical needs of the rising number of adults 65 and older with a higher prevalence of age-related eye disease. Aside from this, optometrists benefit from a stable patient base, as nearly three-quarters of the US population uses a form of corrective eyewear. Rising incomes have facilitated access to optometrists as larger incomes allow patients to cover out-of-pocket costs since public and private insurance payers often limit vision benefits. While the pandemic disrupted years of stable growth, postponed eye care led to long backlogs of appointments, allowing practices to recoup losses in 2021. Steadying patient volumes have stabilized growth in 2023, with recent inflation not significantly impacting consumers' decision to seek eye care. Despite recent volatility, since no substitutes exist for an in-person eye exam, revenue has been expanding at a CAGR of 2.7% to an estimated $23.4 billion over the past five years, including an expected increase of 3.7% in 2023.
Industry revenue has grown at a CAGR of 2.7 % over the past five years, to reach an estimated $23.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Texas Eye Institute | 17.1 | 8.7 | 51.1 | |
Hill Country Vision Center | 7.6 | 3.9 | 51.1 | |
Eye Site Texas | 1.3 | 0.7 | 51.1 |
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Industry revenue is measured across several distinct product and services lines, including Providing medical eyecare, Providing eye exams and Sales of prescription eyewear. Providing medical eyecare is the largest segment of the Optometrists in the US.
Consumers set their sights set on online retailers for prescription eyewear purchases
The Optometrists 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. Optometrists can prescribe and sell eyeglasses, contact lenses and vision therapy.
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NAICS 62132 - Optometrists in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
COVID-19 accelerated disruption in the optometry field. Mounting competition from online eyewear retailers picked up during the pandemic, spurring consolidation activity.
Learn about an industry's products and services, markets and trends in international trade.
Optometry practices have experienced dwindling prescription eyewear sales. Consumers switch to online eyewear retailers for the convenience and cost savings that optometrists...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Population and demographic trends produce opportunities in the Southeast. The region’s large population and a high share of senior citizens support optometry practices.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The growing popularity of online eyewear retailers shifts the competitive landscape. Major online retailers have siphoned away eyewear and contact lens sales previously made ...
Learn about the performance of the top companies in the industry.
Independent eye care providers are the status quo in optometry. Small practices catering to local markets comprise most of this market, preventing any single company from dev...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
State boards determine the scope of optometry. Varying regulations and requirements between states change exactly how optometrists can operate across the United States.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Mounting competition mutes profit growth. The availability of affordable eyewear online has limited in-person eyewear sales at optometrists, suppressing profit in recent year...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Optometrists in the US industry in United States is $23.4bn in 2024.
There are 32,014 businesses in the Optometrists in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Optometrists in the US industry in United States has been growing at a CAGR of 2.7 % between 2019 and 2024.
Over the next five years, the Optometrists in the US industry in United States is expected to grow.
The biggest companies operating in the Optometrists market in United States are Texas Eye Institute, Hill Country Vision Center and Eye Site Texas
Sales of prescription eyewear and Sales of contact lenses are part of the Optometrists in the US industry.
The company holding the most market share in United States is Texas Eye Institute.
The level of competition is moderate and increasing in the Optometrists in the US industry in United States.