US Eyecare Market to reach USD 43 billion by 2017: Ken Research
2013-01-31 13:19:18 - Future growth Led by technological innovations and high proportion of Vision problems in the US populous
New Delhi: 22/01/13- The US eyecare industry is structured in various forms of business models such as independent optical stores, big chain retailers, mass-merchandisers, big box-stores and ophthalmic medical practices. The US eyecare is a highly competitive and diverse market valued at USD ~ million in 2012, thus growing at a CAGR of 3.4% during the period 2006-2012
The revenue of
the US eyecare market displayed a strong resilience to the global meltdown and kept a decent pace of growth. The US eyecare market generated revenue of USD 35 billion in 2012. It was observed that in 2008, the market recorded substantial growth of 13.1% over the previous year and generated revenue worth USD 32 billion during the year. Another factor for the encouraged growth of the eyecare market in the US is the general elevation of prices for various segments of the eyecare industry, the burden of which fell on the end-users or the consumers. The prices in the eyecare market in the country are governed by the innovation and the fashion trends prevailing. The US eyecare retail market consists of independent as well as organized or franchised players. The organized optical retail players dominate the market on account of their multiple operating locations accompanied by the quality of service they provide. The top 20 optical retailers in the US operated an estimated 9,666 stores in the country at various retail sites in 2011.
According to the research report, the US eyecare market would grow at a sustainable CAGR rate thus reaching nearly USD 43 billion by 2017 due to the major push from the contact lenses segment.
Growing proportion of vision problems in the US population, constant technological innovation in ophthalmic products, rising disposable income, fashion trends and greater insurance cover on eyecare expenses are expected to drive the US Eyecare market optimistically in the next five years.
The report titled “The US Eyecare Industry Outlook to 2017 – Lenses Segment Continue to maintain its Dominance” provides a comprehensive analysis of the various aspects such as market size of the US eyecare market along with the overview of the market segments such as frames, lenses, contact lenses, OTC readers, eye examinations and refractive surgeries. The report also covers the market share of the leading players of the US eyecare retailers in the US. The report will help industry consultants, auto-dealers, F&I firms, retailers and other stakeholders to align their market centric strategies according to ongoing and expected trends in years to come.
For more information on the industry research report please refer to the below mentioned link: