Key Highlights
- The global optometry market was valued at approximately $52.8 billion in 2022
- The number of licensed optometrists in the United States exceeded 41,000 in 2022
- Myopia affects about 30% of the adult population worldwide
- The prevalence of presbyopia is expected to reach 1.8 billion people globally by 2023
- The eyewear segment of the optometry industry held approximately 55% of the market share in 2022
- The contact lens segment is projected to grow at a CAGR of 4.3% from 2023 to 2030
- The number of optometry practices in the U.S. increased by 12% between 2015 and 2021
- In 2022, the average annual revenue per optometrist in the U.S. was around $420,000
- Digital eye strain affects approximately 59% of people working primarily on computers
- The prevalence of dry eye disease has increased by approximately 20% during the COVID-19 pandemic
- The global vision care market is expected to grow at a CAGR of 4.5% from 2023 to 2030
- The majority of optometrists (around 70%) are involved in some form of retail or private practice
- About 65% of adult Americans require some form of vision correction
The optometry industry is experiencing a remarkable transformation, with a global market valued at over $52.8 billion in 2022, propelled by rising demand for digital eye care, innovative technologies, and a rapidly growing need for vision correction across all age groups worldwide.
Eye Conditions and Patient Demographics
- Myopia affects about 30% of the adult population worldwide
- The prevalence of presbyopia is expected to reach 1.8 billion people globally by 2023
- Digital eye strain affects approximately 59% of people working primarily on computers
- The prevalence of dry eye disease has increased by approximately 20% during the COVID-19 pandemic
- The percentage of children with myopia has increased by 25% over the past decade
- The percentage of elderly patients (65+) requiring vision correction is over 75%
- About 25% of American adults experience some form of visual discomfort linked with digital device use
- The average age at which people seek their first eye exam is around 5 to 7 years old
Eye Conditions and Patient Demographics Interpretation
Market Segments and Consumer Trends
- The eyewear segment of the optometry industry held approximately 55% of the market share in 2022
- About 65% of adult Americans require some form of vision correction
- The adoption of tele-optometry services increased by over 150% during the COVID-19 pandemic
- Digital device usage time for adults increased by an average of 3.5 hours daily during the pandemic
- The percentage of optometrists offering specialty services such as low vision has increased to over 40% in recent years
- About 80% of adults in the U.S. with vision problems do not wear corrective glasses or contact lenses
- Pediatric visual assessments at school-based programs have increased by 30% in the last decade
- The percentage of consumers purchasing eyewear online increased to nearly 40% in 2023
- Satisfaction rates among patients receiving tele-optometry services are approximately 87%, according to recent surveys
- The retention rate for patients returning for follow-up examinations is around 70% in well-managed practices
Market Segments and Consumer Trends Interpretation
Market Size and Revenue
- The global optometry market was valued at approximately $52.8 billion in 2022
- The contact lens segment is projected to grow at a CAGR of 4.3% from 2023 to 2030
- In 2022, the average annual revenue per optometrist in the U.S. was around $420,000
- The global vision care market is expected to grow at a CAGR of 4.5% from 2023 to 2030
- The global contact lens market was valued at over $10 billion in 2022
- Approximately 2 million Americans wear contact lenses as of 2023
- The global dry eye syndrome market size was valued at $4.2 billion in 2022 and is projected to grow at a CAGR of 7.2% through 2030
- The number of optical shops in North America exceeds 25,000 as of 2023
- The number of contact lenses prescribed in the U.S. increased by 8% between 2018 and 2022
- The global market for spectacle lenses is projected to reach $16 billion by 2025
- The total annual global expenditure on vision correction devices and services exceeds $100 billion
- The global specialty contact lens market size is expected to reach $2.5 billion by 2025
- The number of annual eye exams conducted globally is estimated at over 900 million
- The average reimbursement rate for eye exams covered by insurance is approximately $85 per visit
- The global market for anti-reflective coatings on lenses is expected to grow at a CAGR of 6.5% through 2027
- The global laser vision correction market was valued at over $4.5 billion in 2022
Market Size and Revenue Interpretation
Optometry Workforce and Education
- The number of licensed optometrists in the United States exceeded 41,000 in 2022
- The number of optometry practices in the U.S. increased by 12% between 2015 and 2021
- The majority of optometrists (around 70%) are involved in some form of retail or private practice
- The number of optometry schools in the U.S. is 22 as of 2023
- Female optometrists account for approximately 50% of the optometry workforce in the U.S.
- The average student loan debt for optometry graduates is around $200,000
- The average wait time for an eye exam in major U.S. metro areas is approximately 15 days
- Approximately 60% of optometrists in the U.S. participate in insurance networks
- The number of optometrists providing pediatric eye care increased by 20% in the last five years
- The proportion of optometrists working in multi-specialty clinics increased from 15% in 2015 to 33% in 2023
- The optometry industry is expected to generate over 10 million new jobs globally by 2030
- The majority of new optometry students (around 60%) are women, reflecting increasing gender diversity in the industry
- The percentage of optometrists offering contact lens training and coaching increased to 55% in recent years
Optometry Workforce and Education Interpretation
Technology and Digital Health
- The percentage of optometry practices offering advanced diagnostic technology increased by 35% between 2018 and 2022
- The use of augmented reality and virtual reality diagnostic tools in optometry is projected to grow at a CAGR of 12% through 2028
- The adoption of electronic health records (EHR) in optometry practices is at 90% as of 2023
- The use of AI in optometry for diagnostic and treatment planning is projected to grow at a CAGR of 20% over the next five years
- The adoption of digital eye health solutions in developing countries has increased by over 200% in the last five years
Technology and Digital Health Interpretation
Sources & References
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