The Optometrists industry has exhibited growth due to robust demand from elderly individuals with age-related eye ailments. However, while public health insurance covers medical costs related to eye injuries and diseases, the industry largely derives revenue from private health insurers' reimbursements under supplemental vision insurance plans, which has been an obstacle to growth. The industry has also contended with a less protected medical role in recent years, as some provinces and territories have moved to deregulate the distribution of prescription eyewear. Still, the industry has benefited from strong demand for preventive services, such as providing early detection of diabetes to reduce long-term diabetes-related healthcare costs, and profit is expected to expand as industry operators provide more high-value care.
This industry is primarily engaged in the private or group practice of optometry. Optometrists provide eye examinations to determine visual acuity or the presence of vision problems and to prescribe eyeglasses, contact lenses and eye exercises. They can also perform services provided by an optician, such as selling and fitting prescription eyeglasses and contact lenses.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.