The eyewear industry is near-monopolistic and that’s why markups for frames and lenses are common in the marketplace. But why are prescription eyeglasses so expensive? The answer is because there is no real competition to stop unscrupulous eye glass companies from abusing their market power.
Prescription eyewear makes the single largest mass-market consumer rip off. Consumers end up paying a markup on glasses that don’t make sense at all, with high retail costs that don’t reflect the reality.
If you were glasses, you’d agree that paying thousands of dollars for new frames and lenses is a little too much. People have raised concerns over the same with many suggesting that it is preferable to have this cost included in the country’s overall healthcare. This is allow people get access to corrective lenses they dearly need to operate.
Eye glass companies are steadily competing, with frames and lenses available in a range of prices and quality levels. A lot of technological advances has gone into making today’s glasses, and that is reflected on the price.
However, the high cost of frames reflects a market that lacks real competition. This is a business opportunity, but many are still skeptical of joining the industry. Lenses, on the other hand, is a key component of vision correction and that’s why it should be made affordable to all.