2024 Market inSights +
The Market inSights+ report, published by The Vision Council, provides an in-depth look at market value by channel and demographic for the major product categories exams, frames, lenses, contact lenses, plano sunglasses, and readers. The report breaks down the value, volume and unit price for each product category by channel, as well as providing in-depth demographic insights by age, gender, income, ethnicity, and race.
Report Methodology
To create a highly accurate and data-rich market model, The Vision Council leveraged multiple data sources:
- Patient billing and payment transactions from over 2,700 optical retail locations.
- Consumer expenditure data from millions of anonymized card transactions.
- Retail location data verified via corporate directories and Google Places API.
- Monthly Consumer inSights surveys with over 48,000 U.S. respondents annually.
Data was processed using advanced analytics and AI techniques. Distinctions were made between prescription (exams, lenses, frames, contact lenses) and non-prescription (plano sunglasses, readers) categories, with detailed pricing, volume, and reimbursement modeling.
Key Findings
The total market value in 2024 was $68.3 billion, growing 2.7% from 2023. Key segments included ophthalmic lenses ($17.2B) and plano sunglasses ($17.8B).
After market spikes in 2022, induced by stimulus spending and post-pandemic demand, consumer spending continued to show stability.
Consumers shifted toward budget-friendly eyewear, especially for frames and readers.
Why It Matters
Market insights are vital for optical retailers, eye care professionals, managed vision care providers, and product manufacturers navigating a shifting landscape. Understanding the product channels and demographics that drive market trends allows stakeholders to make data-driven decisions.
Report Delivery
The report will be delivered via download in an excel format.
If you are interested in only one product category, check out our category specific reports here.