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Eyeglasses and Contact Lenses - US - October 2017

"The eyeglasses and contact lenses market is projected to grow 4.6% in 2017, reaching $32.1 billion after rebounding from softer sales in 2016. Sales of prescription corrective eyewear continue to drive the industry, fuelled by an aging population and the limited appeal of corrective surgery. Efforts to digitize eye exams and glasses purchases will have to grapple with the importance consumers place on a relationship with an eye doctor and the need to assess the fit and look of glasses in person. Some adults are concerned about the effects of electronic screens on their vision, leaving opportunities for new product solutions."

- Jana Vyleta, Health & Personal Care Analyst

This report will look at the following areas:

  • Limited, declining penetration of corrective surgery due to cost
  • Many consumers not ready to buy glasses and get eye exams online

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The market
          • Market rebounds from 2016 slump due to prescription glasses, purchase cycles
            • Figure 1: Total US sales and fan chart forecast of eyeglasses and contact lenses, at current prices, 2012-22
          • The issues
            • Limited, declining penetration of corrective surgery due to cost
              • Figure 2: Usage of and attitudes toward corrective surgery, July 2017
            • Many consumers not ready to buy glasses and get eye exams online
              • Figure 3: Select purchase attitudes, July 2017
            • The opportunities
              • Notable number of adults want solutions to protect their vision from screen use
                • Figure 4: Select attitudes toward screens, July 2017
              • Bridge online convenience with in-person needs
                • Figure 5: Select purchase influencers of glasses and purchase attitudes toward glasses and contacts, July 2017
              • Emphasize the look of glasses rather than brand
                • Figure 6: Select purchase influencers of glasses, July 2017
              • What it means
              • The Market – What You Need to Know

                • Sales rebound in 2017 driven by lower 2016 sales, aging population
                  • Growth in prescription glasses and contacts sales drive industry
                    • Overcome barriers to surgery by justifying long-term cost savings
                      • Consumer confidence, aging population fuel industry spending
                      • Market Size and Forecast

                        • Sales rebound from 2016 lull driven by purchase cycles
                          • Figure 7: Total US sales and fan chart forecast of eyeglasses and contact lenses, at current prices, 2012-22
                          • Figure 8: Total US retail sales and forecast of eyeglasses and contact lenses, at current prices, 2012-22
                      • Market Breakdown

                        • Purchase cycles, lull in 2016 sales drive prescription glasses
                          • Steady penetration, more expensive purchases drive contact sales
                            • Eye/lens care products take a dip as private label grows
                              • Figure 9: MULO sales of eye/lens care products, by leading companies and brands, rolling 52 weeks 2016 and 2017
                            • OTC glasses benefit from aging population, penetration growth
                              • Figure 10: Sales of eyeglasses and contact lenses, by segment, 2012-22
                          • Market Perspective: Attitudes toward Vision Surgery

                            • Highlight long-term savings to overcome cost barriers to surgery
                              • Time savings, education may also lower barriers
                                • Figure 11: Attitudes toward vision surgery, July 2017
                              • Age and income dictate perceptions of surgery
                                • Figure 12: Select attitudes toward vision surgery, by age and income, July 2017
                              • Hispanics have fewer barriers to surgery, may be easier to reach
                                • Figure 13: Select attitudes toward vision surgery, by race and Hispanic origin, July 2017
                            • Market Factors

                              • Strong consumer confidence bodes well for vision health players
                                • Figure 14: Consumer Sentiment Index, January 2007-July 2017
                              • Aging population helps drive growth in glasses
                                • Figure 15: Population by age, 2012-22
                              • Growth among Hispanic, Asian consumers creates opportunity
                                • Figure 16: Population by race and Hispanic origin, 2012-22
                            • Key Initiatives – What You Need to Know

                              • Prescription eyewear, online stores with try-on programs, allergy products experience success
                                • Corrective surgery, department store optical centers struggle
                                  • Solutions to address vision concerns will emerge
                                  • What’s Working?

                                    • Prescription eyewear sales rebound from 2016 lull
                                      • Figure 17: Total US retail sales and forecast of eyeglasses and contact lenses, by segment, at current prices, 2012-22
                                    • Online stores with physical try-on programs help consumers
                                      • Eye allergy relief products help relieve symptoms
                                      • What’s Struggling?

                                        • Corrective surgery is being passed over for glasses and contacts
                                          • Figure 18: Penetration of corrective eye surgery, April 2010-May 2017
                                        • Macro trends, high cost perceptions hinder department stores
                                          • Figure 19: Total US retail sales of eyeglasses and contact lenses, by channel, at current prices, 2012-17
                                      • What’s Next?

                                        • Digital exams on the horizon, though barriers exist
                                          • Digital eyestrain products will continue to emerge
                                          • The Consumer – What You Need to Know

                                            • Most adults use corrective eyewear – mainly glasses
                                              • Consumers want glasses to be functional and look good
                                                • Private eye doctors are most visited and most trusted
                                                  • Online eye exams must convey trust, effectiveness to patients
                                                    • Use of digital devices fuels concern over vision
                                                    • Product Usage

                                                      • Most adults need vision correction, use corrective eyewear
                                                        • Cost drives greater use of corrective eyewear than surgery
                                                          • Penetration of glasses and contacts remain nearly flat
                                                            • Figure 20: Product usage, July 2017
                                                          • Use of glasses increases with age, contacts decreases
                                                            • Figure 21: Select product usage, by age and income, July 2017
                                                          • Nearsightedness in Asian consumers commands greater use
                                                            • Figure 22: Select product usage, by race and Hispanic origin, July 2017
                                                        • Purchase Influencers of Glasses

                                                          • Appearance matters as glasses communicate style, individuality
                                                            • Importance of frame material reflects interest in durability, look
                                                              • Expression of style more important than brand
                                                                • Figure 23: Purchase influencers of glasses, July 2017
                                                              • Adults aged 45+ are practical shoppers, women emphasize look
                                                                • Figure 24: Select purchase influencers of glasses, by gender and age, July 2017
                                                              • Hispanics value quality indicators such as material and brand
                                                                • Figure 25: Select purchase influencers of glasses, by race and Hispanic origin, July 2017
                                                            • Vision Health Provider Perceptions

                                                              • Private eye doctors align with high trust, low affordability
                                                                • Figure 26: Purchase locations for eyeglasses and contact lenses, April 2016-May 2017
                                                              • Chain stores known for affordability, convenience, selection
                                                                • Lower familiarity with online, boutique retailers
                                                                  • Figure 27: Correspondence analysis – Perceptions of retailers, July 2017
                                                                • Methodology
                                                                  • Figure 28: Perceptions of retailers, July 2017
                                                                • Younger adults positively perceive their most shopped location: online
                                                                  • Figure 29: Select perceptions of private eye doctor, by age, July 2017
                                                                  • Figure 30: Select perceptions of online providers, by age, July 2017
                                                                • Mass merchandisers should leverage Hispanic and Black perceptions
                                                                  • Figure 31: Select perceptions of private eye doctors and mass merchandisers, by race and Hispanic origin, July 2017
                                                              • Purchase Attitudes toward Glasses and Contacts

                                                                • Consumers need to feel trust, accuracy with online exams
                                                                  • Greater willingness to buy contacts online than glasses
                                                                    • Figure 32: Purchase attitudes, July 2017
                                                                  • Younger adults more likely to embrace online platforms
                                                                    • Figure 33: Select purchase attitudes, by age, July 2017
                                                                  • Presence of vision health providers impacts purchase attitudes
                                                                    • Figure 34: Select purchase attitudes, by location of residence, July 2017
                                                                  • Hispanics more open to online exams reflecting younger population
                                                                    • Figure 35: Select purchase attitudes, by race and Hispanic origin, July 2017
                                                                • Attitudes toward Screen Use

                                                                  • Some adults willing to pay for products that reduce eyestrain
                                                                      • Figure 36: Select attitudes toward screens, by contact lenses-replaced daily, July 2017
                                                                    • Parents concerned about effects of screens on children’s vision
                                                                      • Figure 37: Attitudes toward screens, July 2017
                                                                    • Device use shapes vision concerns among different ages
                                                                      • Figure 38: Select attitudes toward screens, by age, July 2017
                                                                    • Asian, Black consumers more concerned about effects of screens
                                                                      • Figure 39: Select attitudes toward screens, by race and Hispanic origin, July 2017
                                                                  • Appendix – Data Sources and Abbreviations

                                                                    • Data sources
                                                                      • Sales data
                                                                        • Fan chart forecast
                                                                          • Consumer survey data
                                                                            • Consumer qualitative research
                                                                              • Abbreviations and terms
                                                                                • Abbreviations
                                                                                • Appendix – The Market

                                                                                    • Figure 40: Total US sales and forecast of eyeglasses and contact lenses, at inflation-adjusted prices, 2012-22
                                                                                    • Figure 41: Total US retail sales and forecast of eyeglasses and contact lenses, by segment, at current prices, 2012-22
                                                                                    • Figure 42: Total US retail sales of eyeglasses and contact lenses, by segment, at current prices, 2015 and 2017
                                                                                    • Figure 43: Total US retail sales of eyeglasses and contact lenses, by channel, at current prices, 2015 and 2017
                                                                                    • Figure 44: Total US retail sales of eye/lens care products, by channel, at current prices, 2012-17
                                                                                    • Figure 45: Total US retail sales of eye/lens care products, by channel, at current prices, 2015 and 2017
                                                                                • Appendix – The Consumer

                                                                                    • Figure 46: Median household income, by race and Hispanic origin of householder, 2015
                                                                                    • Figure 47: Attitudes and opinions about health and medicine, April 2016-May 2017
                                                                                    • Figure 48: Purchases of prescription eyewear for self in the last 12 months, April 2016-May 2017
                                                                                    • Figure 49: Purchase locations of glasses and contacts in the last 12 months, by age, April 2016-May 2017

                                                                                Companies Covered

                                                                                To learn more about the companies covered in this report please contact us.

                                                                                Eyeglasses and Contact Lenses - US - October 2017

                                                                                US $3,995.00 (Excl.Tax)