1) How large is the VT industry?
2) What percentage of the population needs VT or has a condition that can be treated by VT?
3) # of TBI cases per 1000 people?
4) Average revenue per VT patient?
2) What percentage of the population needs VT or has a condition that can be treated by VT?
3) # of TBI cases per 1000 people?
4) Average revenue per VT patient?
Summary:
- It is difficult to estimate the size of the vision therapy industry as it encompasses a wide range of practitioners, including optometrists, ophthalmologists, and occupational therapists, among others. So numbers are difficult to extract per profession. The global vision therapy market size was valued at approximately USD 1.8 billion in 2017 and is expected to reach USD 3.2 billion by 2023, growing at a CAGR of 8.6% during the forecast period, according to a report by Market Research Future.
- The percentage of the population that needs vision therapy or has a condition that can be treated by vision therapy varies depending on the specific condition being considered. According to the American Optometric Association, up to 25% of children have vision problems that can be treated with vision therapy, and some studies suggest that up to 80% of children with reading difficulties may have underlying vision problems. Additionally, vision therapy can be effective in treating certain binocular vision disorders, such as strabismus and amblyopia. However, not all vision problems can be treated with vision therapy, and the effectiveness of vision therapy depends on the individual and their specific condition.
- According to the World Health Organization, an estimated 69 million individuals worldwide sustain a traumatic brain injury (TBI) each year, and TBI is a leading cause of death and disability globally. The incidence rates of TBI vary depending on the population being studied and the definition of TBI being used. According to the Centers for Disease Control and Prevention, in the United States, there were approximately 2.87 million TBI-related emergency department visits, hospitalizations, and deaths in 2014, which equates to a rate of approximately 90 TBI cases per 100,000 people.
- The average revenue per vision therapy patient varies depending on the provider, the type of therapy being provided, and the location. According to a report by Grand View Research, the global vision therapy market is expected to reach USD 1.4 billion by 2028, with an estimated average revenue per patient of USD 3,000 to USD 4,000. However, it is important to note that these estimates may not reflect the experiences of all vision therapy providers and patients, and the cost of vision therapy can vary widely depending on the individual and their specific condition, as well as factors such as insurance coverage and geographic location. According to some estimates, the average cost per vision therapy session ranges from $60 to $150. The number of sessions needed varies depending on the individual and their specific condition, but it can range from 8 to 60 sessions or more. Therefore, the total revenue per patient can range from a few hundred dollars to several thousand dollars.
Sources:
1. Market Research Future. “Vision Therapy Market Research Report – Global Forecast till 2023.” February 2018.
2. American Optometric Association. “Optometric Clinical Practice Guideline: Care of the Patient with Amblyopia.” 2018.
3. World Health Organization. “Traumatic Brain Injury.” Updated May 2021.
4. Centers for Disease Control and Prevention. “Traumatic Brain Injury in the United States: Fact Sheet.” Updated March 2021.
5. Grand View Research. “Vision Therapy Market Size, Share & Trends Analysis Report By Type, By Application, By Region And Segment Forecasts, 2021-2028.” July 2021.
