More Than a Commodity: The Non-Market Crisis of Affordability and Access in the U.S. Corrective Lenses Market is Valued at Approximately $30 Billion
Description: Despite its significant commercial value, the U.S. Corrective Lenses Market faces a major non-market failure: the profound issue of vision equity due to the lack of adequate insurance coverage and the resulting financial barrier to essential sight correction.
The non-market reality of the U.S. Corrective Lenses Market is valued at approximately $30 billion is that clear vision, a fundamental requirement for education, employment, and safe driving, is not treated as essential medical care. Unlike other vital healthcare services, routine eye exams, glasses, and contact lenses are often excluded from standard medical insurance policies and Medicare, forcing millions of Americans to pay for essential vision correction entirely out-of-pocket. This financial barrier disproportionately impacts low-income and elderly populations, forcing them to delay necessary prescription updates or wear outdated, ill-fitting lenses, which…