Consistent premium price increases have led to moderate revenue growth for the Vision Insurance industry over the five years to 2017; however, costs have largely kept pace, to the detriment of industry profit margins. A range of trends has benefited industry revenue over the past five years, including the aging of the domestic population and regulatory changes. Moreover, existing operators have also benefited from prevailing higher barriers to entry, with economies of scale both buoying margins from increased compliance costs and tempering the entrance of new players. Over the five years to 2022, industry revenue is forecast to continue rising. The primary causes of this trend are the PPACA and improving macroeconomic variables, which collectively increase the number of individuals with access to eye care. Yet, despite rising revenue, consolidation trends are anticipated to persist, mirroring the broader insurance sector, while margins are forecast to fall.
This industry includes companies that provide coverage for routine eye exams and other procedures, as well as discounted pricing for eyeglasses and contact lens purchases. Vision insurance is often a rider policy linked to regular health insurance.
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.
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