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2024 U.S. Industry Statistics & Market Forecast - Offices of Optometrists


Market Size & Industry Statistics

The total U.S. industry market size for Offices of Optometrists: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Optometrists industry is witnessing several significant trends that are shaping the sector's growth and development. Firstly, advancements in technology are causing a shift in the way optometrists conduct eye examinations, as new tools and techniques such as digital retinal imaging, optical coherence tomography, and automated phoropters improve accuracy, efficiency, and patient experience.

Secondly, changing demographics are playing a key role in driving demand for optometry services. The aging population is expected to drive a surge in demand for eye care services, while a growing number of millennials prioritizing preventative healthcare and eyewear fashion is also contributing to the industry's growth.

Thirdly, the rising prevalence of chronic diseases such as diabetes and hypertension is leading to an increase in eye-related health issues, particularly in older populations, creating significant opportunities for optometrists to provide early detection and treatment.

Finally, there is a growing trend towards consolidation within the industry, as larger optometric groups acquire independent practices in an effort to increase their market share and achieve economies of scale.

Overall, these key trends are expected to continue driving growth in the Optometrists industry over the coming years, prompting optometrists to adapt and innovate in order to remain competitive.



Product & Services Breakdown

Research products and services in the Offices of Optometrists industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Patient Care, Related To Icd-9 Major Category, Based On Primary Diagnosis

Patient Care - Infectious And Parasitic Diseases (Icd-9 Codes 001-139)

Patient Care - Endocrine, Nutritional And Metabolic Diseases, And Immunity Disorders (Icd-9 Codes 240-279)

Patient Care - Diseases Of The Nervous System And Sense Organs (Icd-9 Codes 320-389)

Patient Care - Diseases Of The Respiratory System (Icd-9 Codes 460-519)

Patient Care - Symptoms, Signs, And Ill-Defined Conditions (Icd-9 Codes 780-799)

Patient Care - Supplementary Classification Of Factors Influencing Health Status And Contact With Health Services (Icd-9 Codes V

Patient Care - All Other Patient Care

Resale Of Merchandise

Resale Of - Optical Goods

All Other Receipts

All Other Operating Receipts



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Offices of Optometrists company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Offices of Optometrists industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Offices of Optometrists measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 2%

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General and Operations Managers1%
Healthcare Practitioners and Technical Occupations 53%
Healthcare Diagnosing or Treating Practitioners 18%
Optometrists 16%
Optometrists 16%
Health Technologists and Technicians 35%
Health Practitioner Support Technologists and Technicians 12%
Ophthalmic Medical Technicians 12%
Opticians, Dispensing 21%
Opticians, Dispensing 21%
Healthcare Support Occupations 8%
Other Healthcare Support Occupations 8%
Miscellaneous Healthcare Support Occupations 8%
Medical Assistants 8%
Office and Administrative Support Occupations 32%
Information and Record Clerks 13%
Receptionists and Information Clerks 11%
Receptionists and Information Clerks 11%
Secretaries and Administrative Assistants 7%
Secretaries and Administrative Assistants 7%
Medical Secretaries and Administrative Assistants 6%
Source: Bureau of Labor Statistics


Offices of Optometrists Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Offices of Optometrists industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Offices of Optometrists industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Offices of Optometrists industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Offices of Optometrists

  • Feb 27, 2024: PRAIRIE BAND HEALTH SERVICES (Mayetta, KS) awarded $249,900
  • Feb 27, 2024: STABILE VISION & OCULAR HEALTH SERVICES PLLC (San Antonio, TX) awarded $38,480
  • Feb 20, 2024: DAN W. HAUBEN INC (Huntington Beach, CA) awarded $61,718
  • Feb 20, 2024: LAREDO TECHNICAL SERVICES, INC. (San Antonio, TX) awarded $381,382
  • Feb 12, 2024: HOYA OPTICAL LABS OF AMERICA, INC. (Saint Louis, MO) awarded $37,000
  • Feb 06, 2024: 10XG LLC (Washington, DC) awarded $38,480