“2024 has been a year of both challenges and growth for UK optometry”

A pivotal development was the widespread adoption of advanced diagnostic technologies, but equally impactful has been the influence of the new Labour government, which promises fresh opportunities for healthcare.

Reflecting on the challenges and advancements within optometry across 2024, the year highlights both hurdles and potential for growth.

While the promise of investment in healthcare is encouraging, practices need concrete measures that address economic challenges exacerbated by the Autumn Budget

Opportunity and optimism

Adopting artificial intelligence (AI)-powered diagnostic tools and advanced imaging systems has revolutionised patient care and opened new revenue streams for practices. These technologies allow optometrists to detect conditions earlier, improving patient outcomes and enabling practices to offer premium services.

From a commercial perspective, these advancements position optometry at the forefront of preventive healthcare. Practices integrating these tools are capturing the growing demand for high-quality, technology-driven care, reinforcing their value to patients. However, the initial investment in this technology remains a significant barrier, particularly for smaller, independent practices. Those who can embrace these tools are well-placed to differentiate themselves in an increasingly competitive market.

The arrival of the Labour government in 2024 has introduced optimism around increased funding and integration for primary healthcare. Policies aimed at improving NHS efficiency and strengthening partnerships between public and private healthcare providers present opportunities for optometrists to play a larger role in managing patient care. For example, potential government support for diagnostic equipment in primary care settings could help smaller practices access cutting-edge technology. Additionally, an emphasis on preventive care aligns closely with optometry’s capabilities, creating new avenues for collaboration with NHS services.

However, the sector awaits clarity on how Labour’s policies will translate into actionable support for small businesses such as our independent practices. While the promise of investment in healthcare is encouraging, practices need concrete measures that address economic challenges exacerbated by the Autumn Budget.

Business pressures

The 2024 Autumn Budget introduced significant pressures on small businesses. The increase in the National Living Wage and higher National Insurance contributions have placed additional strain on practice owners, who are already navigating rising costs in energy, supplies, staff recruitment and years of high inflation. For many independent optometry practices, this has intensified the challenge of maintaining profitability while delivering quality care.

At the same time, patient spending remains under pressure due to the broader economic squeeze. Practices are finding themselves balancing the need to offer premium services with competitive pricing strategies to retain and attract patients. For independent businesses, particularly those without the scale of larger groups, navigating these financial pressures requires careful cost management and a focus on margin-accretive services and products.

As we enter 2025, practices that focus on innovation, collaboration, and patient-centric strategies will be well-positioned to succeed in an evolving landscape

Adapting and thriving

Despite these challenges, 2024 has been a year of growth and optimism for Hakim Group. We are proud to have welcomed a record number of new independent practices to our family, a testament to the resilience and innovation of small business owners in the sector. This expansion underscores our commitment to supporting independent optometry and fostering a thriving community of like-minded professionals.

Key trends among optometrists in 2024 reflect a profession adapting to changing market dynamics. Many practitioners have embraced service diversification, offering specialist clinics in myopia management, dry eye, and independent prescribing. These services not only meet growing patient demand but also provide new revenue streams for practices.

Sustainability has also emerged as a priority, with practices adopting eco-friendly products and processes to align with consumer values. From sustainable eyewear collections, these initiatives are helping businesses stand out in a competitive marketplace.

2024 has been a year of both challenges and growth for UK optometry. Political changes and economic pressures have tested resilience, but advancements in technology and opportunities for healthcare integration present a promising future. As we enter 2025, practices that focus on innovation, collaboration, and patient-centric strategies will be well-positioned to succeed in an evolving landscape.

At Hakim Group, we remain dedicated to supporting our independent practices across the UK and ROI in navigating these changes and achieving sustainable growth.

About the author

Barney Streeting has worked within optics in a variety of settings for over 25 years. He joined Hakim Group in 2023 as chief commercial officer.