Research and Markets has released a new market report titled ‘Optometrists and Opticians’. According to the report, the US retail optical industry comprises approximately 13,000 optician stores and 20,000 optometrist offices, with combined annual revenue of $8 billion and $11 billion, respectively.
Large opticians in the market include US Vision, Eye Care Centers of America, and Luxottica Retail (LensCrafters and Pearle Vision). The 50 largest chains in the optician segment account for approximately 60% of the market. The report reveals that the optometrist segment is much fragmented.
The demand in the optical market is driven by varying healthcare practices, fashion, and demographics. The aging population in the US increases the demand for glasses and eye exams. Large retailers can provide various product styles, and benefit from the economies of scale associated with purchasing. By providing better service, specialized products, or convenient locations, small retailers can compete with large chains.
The sales of eyeglasses are cyclic with the economy, as customers consider extra glasses as a deferred expense. The average annual revenue per employee for optometrists and opticians are $100,000 and $130,000, respectively.
Source: A To Z of Optics