Market Overview:
The global vision insurance market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing prevalence of eye diseases, rising awareness about preventive eye care, and growing demand for prescription eyewear and vision correction surgery. The global vision insurance market is segmented by type, application, and region. By type, the market is divided into preventive eye care (eye exams), prescription eyewear (eyeglasses and contact lenses), vision correction surgery, and others. By application, the market is classified into schools, companies, and others. Geographically speaking, the global vision insurance market spans North America (U.S., Canada), Latin America (Mexico), Europe (Germany France Italy Spain U.K.), Asia Pacific (China Japan India South Korea Australia New Zealand) Middle East & Africa(South Africa Saudi Arabia UAE).
Product Definition:
Vision insurance is a type of health insurance that helps people pay for eye exams, eyeglasses, and contact lenses. People who have vision insurance often use it to get routine eye exams and to buy prescription eyeglasses or contact lenses.
Preventive Eye Care (Eye Exams):
Preventive eye care is the first line of defense in preventing vision loss. It includes a complete eye exam every 2 years or so, along with timely refills for any prescriptions that may have expired. Vision insurance can be useful in this scenario as it covers some of the costs involved i.e., an Eye Exams (exams are covered under vision insurance) and Prescription(s) (if applicable).
Prescription Eyewear (eyeglasses and contact lenses):
Prescription eyewear is a type of vision insurance. It's a safeguard against the risk of developing future visual impairment, which can be treated with glasses or contact lenses. Prescription eye wear also serves as an effective tool for people who are at high risk to lose their eyesight in the future due to conditions such as glaucoma and cataract.
Application Insights:
The companies segment held the largest market share in 2017. Companies are increasingly adopting vision policies as an employee benefit to provide financial protection in case of eye-related diseases. Vision correction surgery is becoming popular among young adults for aesthetic reasons and to improve their appearance, which is expected to drive the demand over the forecast period.
Companies usually offer a choice between regular insurance plans and cash payout options for medical expenses incurred due to vision impairment or loss of eyesight. Vision impairment or loss of eyesight can have a huge impact on an individual¢â‚¬â„¢s life, thereby making him dependent on others for daily activities such as reading and recognizing faces, which may result in social isolation if not addressed early enough through effective preventative care measures taken by companies along with governments across all regions globally.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing awareness about vision correction procedures, high purchasing power of consumers, and availability of a wide range of services for eye care management.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to improving economic conditions in emerging countries such as India and China. Furthermore, an increase in disposable income will boost demand for various vision correction surgeries thereby driving regional growth during the forecast period.
The Middle East & Africa (MEA) region has been witnessing tremendous development with respect rising healthcare expenditure levels coupled with increased government spending on preventive medicine across countries like Saudi Arabia.
Growth Factors:
- Increasing awareness about the benefits of vision insurance: A large number of people are not aware of the benefits that come with having a vision insurance policy. This is mainly because most people think that regular health insurance policies cover eye care expenses as well. However, this is not always the case and many times, individuals have to pay out-of-pocket for routine eye care procedures like eye exams and glasses/contact lenses. As more and more people become aware of the benefits that come with having a vision insurance policy, there is likely to be an increase in demand for these policies.
- Rising cost of medical care: The cost of medical care has been rising steadily over the years and this trend is expected to continue in the future as well. This is especially true for procedures like eye surgery which can be quite expensive. By purchasing a vision insurance policy, individuals can ensure that they have some coverage for these costs in case they need to undergo any such procedures in future.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vision Insurance Market Research Report
By Type
Preventive Eye Care (Eye Exams), Prescription Eyewear (eyeglasses and contact lenses), Vision Correction Surgery, Others
By Application
Schools, Companies, Others
By Companies
Aflac, USAA, AARP, MetLife, Medical Mutual of Ohio, AXA, Sun Life Financial
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Vision Insurance Market Report Segments:
The global Vision Insurance market is segmented on the basis of:
Types
Preventive Eye Care (Eye Exams), Prescription Eyewear (eyeglasses and contact lenses), Vision Correction Surgery, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Schools, Companies, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Aflac
- USAA
- AARP
- MetLife
- Medical Mutual of Ohio
- AXA
- Sun Life Financial
Highlights of The Vision Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Preventive Eye Care (Eye Exams)
- Prescription Eyewear (eyeglasses and contact lenses)
- Vision Correction Surgery
- Others
- By Application:
- Schools
- Companies
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vision Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vision insurance is a type of insurance that helps pay for eye care needs if you experience a loss of vision.
Some of the major players in the vision insurance market are Aflac, USAA, AARP, MetLife, Medical Mutual of Ohio, AXA, Sun Life Financial.
The vision insurance market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vision Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vision Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vision Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vision Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vision Insurance Market Size & Forecast, 2020-2028
4.5.1 Vision Insurance Market Size and Y-o-Y Growth
4.5.2 Vision Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Preventive Eye Care (Eye Exams)
5.2.2 Prescription Eyewear (eyeglasses and contact lenses)
5.2.3 Vision Correction Surgery
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Schools
6.2.2 Companies
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vision Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vision Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Preventive Eye Care (Eye Exams)
9.6.2 Prescription Eyewear (eyeglasses and contact lenses)
9.6.3 Vision Correction Surgery
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Schools
9.10.2 Companies
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Preventive Eye Care (Eye Exams)
10.6.2 Prescription Eyewear (eyeglasses and contact lenses)
10.6.3 Vision Correction Surgery
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Schools
10.10.2 Companies
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Preventive Eye Care (Eye Exams)
11.6.2 Prescription Eyewear (eyeglasses and contact lenses)
11.6.3 Vision Correction Surgery
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Schools
11.10.2 Companies
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Preventive Eye Care (Eye Exams)
12.6.2 Prescription Eyewear (eyeglasses and contact lenses)
12.6.3 Vision Correction Surgery
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Schools
12.10.2 Companies
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Preventive Eye Care (Eye Exams)
13.6.2 Prescription Eyewear (eyeglasses and contact lenses)
13.6.3 Vision Correction Surgery
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Schools
13.10.2 Companies
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vision Insurance Market: Competitive Dashboard
14.2 Global Vision Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Aflac
14.3.2 USAA
14.3.3 AARP
14.3.4 MetLife
14.3.5 Medical Mutual of Ohio
14.3.6 AXA
14.3.7 Sun Life Financial
