Industry Background:
Vision insurance is done for the cost covering of overall eye health treatment, mainly the plans are created to offer the employees with good cost coverage for the treatment of vision if any problem arises. The vision insurance coverage includes eye examination, monitoring, eyewear, eye surgery, or any discount on teh eyewear and vision correction. It cut down the cost of eye treatment and medical care available in various vision insurance plans.This growth is primarily driven by Increasing Vision Related Problem Among a Large Number of Population
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Life & Health Insurance sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Aflac Inc. (United States), United HealthCare Services, Inc. (United States), Equitable Holdings, Inc. (United States), Sun Life Assurance Company (Canada), MetLife, Inc. (United States), Essilor of America (United States), Medical Mutual of Ohio (United States), Bausch & Lomb Incorporated (United States), EYEMED (United States), VSP Vision Care (United States), Humana (United States), Ameritas (United States), ANTHEM BLUE VIEW VISION INSURANCE (United States), health insurance Services, Inc. (United States) and AETNA (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 19th March 2020, Aflac Incorporated announced that its insurance subsidiaries American Family Life Assurance Company of Columbus (Aflac of Columbus) and American Family Life Assurance Company of New York (Aflac of New York) have entered into a definitive agreement to acquire Zurich North America's U.S. Corporate Life and Pensions (Group Benefits) business, which consists of group life, disability and absence management products.
In February 2023, Oman Qatar Insurance, a subsidiary of Qatar Insurance Company (QIC) announced a merger with Omani company Vision Insurance to offer quality insurance solutions for Oman people. The merger will position the company among the leaders in Oman in terms of Gross written premium and also offer an affordable, customer-centric, and digital-first insurance experience.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Emerging Vision Insurance Plans Benefits on the Eyeglasses, Vision Correction Surgery, and Contact lenses
Market Growth Drivers:
Increasing Vision Related Problem Among a Large Number of Population and Rising Cost of Vision Related Treatment
Challenges:
The Number of New Entrants in the Vision Insurance Market
Restraints:
Stringent Regulatory Guidelines on Vision Insurance
Opportunities:
Awareness about the Vision Health Through Various Programs will Boost the Vision Insurance Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Vision Insurance Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Vision Insurance Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Vision Insurance players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Vision Insurance Study Sheds Light on
The Vision Insurance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Vision Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vision Insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.