What’s the State of the Optical Market?

Eye test chart and eyeglasses

The optical market has grown tremendously during the past decade. According to Statista, the amount of eyewear sold since 2009 has increased each year, affecting contact lenses, prescription eyeglasses, plano sunglasses, and over-the-counter (OTC) readers. There are many reasons for this growth in the optical market: a growing population, a growing concern for eye health and checkups, lifestyle changes, an increase in disposable income, and the convenience of teleconsulting. With this growth in the marketplace, now is the optimal time to look for a telemedicine franchise, like My Eyelab’s eyewear franchise opportunity.

More People Are Seeking Optical Care

Grand View Research notes that the global vision market was valued at $102.66 billion in 2015. According to research, this high value can be attributed to several factors:
1. The growing population and lifestyle changes make a difference, as more people are purchasing prescription sunglasses.
2. There are more optical deficiencies driving the industry forward.
3. Genetic and environmental factors impact how people see, and the increase of technology usage, such as the popularity of smartphones, has been shown to negatively impact eyesight.
4. There has been a noticeable rise in awareness among individuals surrounding the importance of eye checkups. This means that more people are aware of the need to protect their eyes, and many are being diagnosed with optical deficiencies, driving the need for more optical purchases.

For these reasons, the optical industry is expected to grow even further over the coming years.

Reliance of Technology Affects Optical Health

Consider the abundance of technology that you use every day. Most of us refer to our smartphones or tablets throughout the day, stare at computer screens for hours, and complete tasks surrounded by dim lighting. All of these activities create eye strain. The Mayo Clinic offers several suggestions for how to reduce eye strain. For instance, taking breaks from reading your tablet or working at your laptop will rest your eyes. Using eye drops to lubricate your eyes can also help. Finally, the right eyewear can alleviate eye strain as there are eyeglasses and contacts especially designed for computer work. With the number of people for whom eye strain is a problem, it’s easy to understand why the optical industry continues to grow.

Affordable, Convenient Eye Care Attracts Patients

As the optical market grows, eye exam and eyewear costs tend to decrease to keep up with market demand. As an example, My Eyelab offers 2 pair of eyewear for $69 and includes a free eye exam! With an increased focus on affordable, convenient eye care services and products, optical businesses like My Eyelab are adjusting their price points to meet customer demand. That’s why My Eyelab offers low prices on exams and eyewear while maintaining low costs.

Also, teleconsulting makes a difference in the growing number of available optometry businesses for sale. Consumers can now connect with optical professionals and consultants in the blink of an eye without meeting face-to-face. With a few easy clicks, they can easily order the appropriate eyewear to suit their needs and budget.

Consider a Telemedicine Franchise with My Eyelab

To take advantage of this lucrative and fast-growing market and become a My Eyelab franchisee. This is an exciting and enticing way to get a slice of the growing optical market. Contact My Eyelab today to take the next step towards becoming a franchisee.

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