US Vision Health Market Report 2022

Overview

• What you need to know
• This Report looks at the following areas
• Definition
• Market context

Executive Summary

• Top takeaways
• Market overview
  • Figure 1: Total US sales and fan chart forecast of market, at current prices, 2017-27
  • Figure 2: Vision health category outlook, 2022-27
• Opportunities and challenges
• Consumer interest in digital solutions remains elevated
  • Figure 3: Interest and usage of select vision services, 2022
• Comprehensive vision services and products appeal most to consumers
  • Figure 4: Eyewear purchase retail locations, 2022
• Many consumers still don’t acknowledge the potential harm of technology on their vision
  • Figure 5: Attitudes toward vision health, 2022
• Key consumer insights

Market Size and Forecast

• Supply chain disruptions stunt market growth
  • Figure 6: Total US sales and fan chart forecast of eyeglasses and contact lenses market, at current prices, 2017-27
  • Figure 7: Total US retail sales and forecast of eyeglasses and contact lenses, at current prices, 2017-27

Segment Performance

• Strong growth for all segments is welcome news
  • Figure 8: Total US retail sales and forecast of eyeglasses and contact lenses, by segment, at current prices, 2017-27

Market Factors

• Increased screen time benefits category
• Consumer confidence remains low, influenced by elevated inflation
  • Figure 9: Consumer Sentiment Index, 2007-22
• Aging population will increase demand for age-related vision services
  • Figure 10: Population aged 18 or older, by age, 2017-27

Competitive Strategies and Market Opportunities

• Johnson & Johnson’s new contacts target digitally intense lifestyles
• New eyeglasses lenses that slow pediatric myopia progression show promise in trials
  • Figure 11: American Optometric Association Instagram post, 2022
• Technology advancements in dynamic vision eyewear may eliminate bifocal need
  • Figure 12: 32neyewear Instagram post, 2021
• Implantable contact lenses set to disrupt the corrective eyewear game
  • Figure 13: Evo ICL Instagram post, 2022
• DTC eyewear evolution highlights the need for omnichannel presence

The Vision Health Consumer – Fast Facts

Product Usage

• Consumers rely on prescription glasses to correct their vision
  • Figure 14: Types of corrective eyewear used, trended, 2020-22
• Prescription eyeglasses are a staple of older consumers
  • Figure 15: Types of corrective eyewear used, by generation, 2022

Instance of Last Vision Check

• Most consumers are current on their vision checkup
  • Figure 16: Instance of last vision check, 2022
• Younger consumers may need help establishing an eye exam routine
  • Figure 17: Instance of last vision check, by age 2022
• Convenience holds the key to establishing routine eye care for Black consumers
  • Figure 18: Instance of last vision check, by race and Hispanic origin, 2022

Location of Last Vision Exam

• Optometrists are the go-to for vision exams
  • Figure 19: Location of last vision exam, 2022
• Gen Z is still experimenting with exam locations
  • Figure 20: Location of last vision exam, by generation 2022

Corrective Eyewear Purchase Preferences

• Most corrective eyewear is purchased in person, however, omnichannel presence is increasingly important
  • Figure 21: Corrective eyewear purchase channels, 2022
• Those who struggle financially seek vision products from their eye exam provider
  • Figure 22: Corrective eyewear purchase channels, by financial situation, 2022
• Traditional eyewear outlets win out for eyewear purchases, but only slightly
  • Figure 23: Eyewear purchase retail locations, 2022
• Black consumers prefer the variety offered in a retail setting
  • Figure 24: Eyewear purchase retail locations, Black consumers, 2022
• • Figure 25: Reframd Instagram post, 2022

Purchase Drivers

• Convenience and cost are main components of selecting corrective eyewear
  • Figure 26: Corrective eyewear purchase drivers, 2022
• Women seek eyewear deals while men are more driven by innovation
  • Figure 27: Select corrective eyewear purchase drivers, by gender, 2022
• Parents want reassurance about their vision purchases
  • Figure 28: Corrective eyewear purchase drivers, by parental status, 2022

Vision Health Habits

• Consumers need a push to create healthy lifestyle habits to manage vision health
  • Figure 29: Vision-related healthy habits, 2022
• Vision health strategies vary across age demographics
  • Figure 30: Vision-related healthy habits, by generation, 2022
• There is a direct correlation between income and vision habits
  • Figure 31: Select vision-related healthy habits, by income, 2022

Interest in and Usage of Vision Services

• Strong interest in a guided, personalized experience
  • Figure 32: Interest in and usage of vision services, 2022
• Hispanic consumers are open to digital health services
  • Figure 33: Interest in and usage of vision services, Hispanic consumers, 2022

Attitudes toward Vision Health

• The pros and cons of technology on vision health
  • Figure 34: Attitudes toward vision health, 2022
• • Figure 35: Warby Parker Instagram post, 2021
• Those struggling financially may need more help to address vision concerns
  • Figure 36: Attitudes toward vision health, by financial situation, 2022
• Vision-related health issues seem far off for younger consumers
  • Figure 37: Select attitudes toward vision health, by age 2022

Appendix – Data Sources and Abbreviations

• Data sources
• Sales data
• Forecast
• Consumer survey data
• Abbreviations and terms
• Abbreviations
• Terms

Appendix – The Market

• • Figure 38: Total US retail sales and forecast of eyeglasses and contact lenses, at inflation-adjusted prices, 2017-27
  • Figure 39: Average annual household spending on eyeglasses and contact lenses, 2017-22
  • Figure 40: Total US retail sales of eyeglasses and contact lenses, by segment, at current prices, 2020 and 2022
  • Figure 41: Total US retail sales and forecast of prescription glasses, at current prices, 2017-27
• • Figure 42: Total US retail sales and forecast of prescription glasses, at inflation-adjusted prices, 2017-27
  • Figure 43: Total US retail sales and forecast of contact lenses, at current prices, 2017-27
  • Figure 44: Total US retail sales and forecast of contact lenses, at inflation-adjusted prices, 2017-27
  • Figure 45: Total US retail sales and forecast of otc reading glasses, at inflation-adjusted prices, 2017-27

Appendix – The Consumer

• Convenience and Insurance prime motivators behind purchase location choice
  • Figure 46: Analysis – Reasons for purchase location, 2022
• • Figure 47: Table – TURF Analysis – Reasons for purchase location, 2022
• Eyeglasses most popular forms of corrective eye care for consumers
  • Figure 48: TURF Analysis – Product usage, 2022
• • Figure 49: Table – TURF Analysis – Product usage, 2022