Vision Insurance Market- Industry Market Research Report

Vision Insurance

Consistent premium price increases have led to moderate revenue growth for the Vision Insurance industry over the past five years. However, costs have largely kept pace with this growth, proving detrimental to industry profit margins. While vision insurance is distinct from health insurance, many players provide comprehensive policies that include both health and vision plans, causing a high correlation between health and vision insurance trends. Consequently, the Patient Protection and Affordable Care Act (PPACA) has benefited both industries. The aging of the domestic population has also boosted demand due to the reliance of the elderly on eye care. Over the five years to 2023, the primary drivers of growth will be the PPACA and improving macroeconomic variables, which collectively increase the number of individuals with access to eye care. However, despite rising revenue, consolidation trends are anticipated to persist in parallel with 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 broader 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.