Industry Analysis & Industry Trends
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... purchase to read more
Industry Report - Industry Analysis Chapter
The Optometrists industry has slightly declined over the past five years due to eyewear deregulation cutting into the industry’s ancillary sales. For example, in 2010, British Columbia deregulated prescription eyewear, allowing consumers to purchase prescription and contact lenses without an eye exam or optometrist prescription. In Canada, optometrists provide primary vision care, which typically ranges from sight testing and correction to the diagnosis, treatment and management of vision changes.
Over the five years to 2016, industry revenue is expected to decline at an annualized rate of 0.4% to $2.4 billion due to intensifying competition from online retailers dampening demand for ancillary products (e.g. eye.. purchase to read more