Vision care market sees increased sales revenue in Q3
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The vision correction industry saw $46.45 billion worth of eye wear sales in the 12-month period ending in September 2021, according to Vision Council’s VisionWatch report.
These sales represent a 24% increase over the 12-month period ending September 2020 and a 6.3% increase over the 12-month period ending September 2019, Vision Council said in a press release.
“The third quarter of 2021 was one of the strongest quarters we have seen in recent memory with over $12.27 billion in U.S. optical market sales generated on an individual quarter basis,” Steve Kodey, senior director of industry research at the Vision Council, said in the release. “This represents an increase of 15.8% compared to a relatively strong Q3 2020 as the market rebounded from a difficult first half of 2020 due to the COVID-19 pandemic. Additionally, Q3 2021 sales were up 4.7% over Q3 2019.”
In the 12-month period ending in September 2021, online sales of all eye wear increased by 26.3%, generating $4 billion in revenue, and sales of eyeglass frames and lenses increased by 42.8% and 34.6%, respectively. Online eyeglasses unit pair sales, frames and lenses combined were also reported to have increased by 34% during this time period.
As previously reported by Healio, the increase in online eye wear sales has been evident in previous quarters and is believed to be attributed to the COVID-19 pandemic.
The VisionWatch report also indicated an increase of 0.9% in managed vision care coverage in September 2021 compared to September 2020, mirroring the increase in managed vision care utilization for eye exam and eye wear transactions over the past year.
Managed vision care benefits were used in 75.7% of all adult eye exams and 60.9% of all frames purchased during the 12-month ending period September 2021, representing an increase in managed vision care utilization in both areas compared with the 12-month period ending September 2020.
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