Optometry Equipment Market Will Reach USD 2686.7 Million By 2028 With A CAGR of 3.2% - Valuates Reports

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Sep 08, 2022, 11:00 ET

BANGALORE, India, Sept. 8, 2022 /PRNewswire/ -- The Optometry Equipment Market is segmented by Type - Retina Examination, General Examination, Cornea Examination, by Application - Eye Clinics, Hospitals. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Vision Care Category.

The global Optometry Equipment market size is estimated to be worth USD 2224 million in 2022 and is forecast to be a readjusted size of USD 2686.7 million by 2028 with a CAGR of 3.2% during the forecast period.

Major Factors Driving The Growth Of The Global Optometry Equipment Market are

The increasing prevalence of several eye disorders due to over-reliance on digital devices and the aging population will fuel the growth of the market.

The rising cases of diabetes causing permanent visual impairment and technological advancements in ophthalmic devices will drive market growth in the coming years.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL OPTOMETRY EQUIPMENT MARKET

Vision loss is a major public health concern with eye disorders increasing globally. The heavy dependence on smartphones and gadgets leads to significant demerits such as dry eyes, redness, and itchiness which progress into severe conditions. Irreparable vision impairment and risk of eye diseases increase with age. The use of diagnostic tests is necessary for accurate diagnosis which will drive the demand for the optometry equipment market. Moreover, cataract is a leading cause of blindness worldwide affecting both developing and developed nations. For instance, 3.3 million Americans over the age of 40, or one in every 28 people suffer from complete blindness. Low vision is expected to increase considerably, particularly for people over the age of 65 years or more in the forthcoming period.

Type-2 diabetes has become a common disease leading to a huge number of deaths around the world. Lakhs of people are estimated to be blinded due to diabetic retinopathy while millions will suffer from partial vision impairment. High-quality treatment is necessary to reduce the prevalence of diabetic-induced blindness which will foster the growth of the optometry equipment market. Government authorities are stepping up and creating global strategies for screening, diagnosis, and treatment of diabetic macular edema( DME).

The field of Ophthalmology is going through a rapid transition with the introduction of new technologies such as laser eye surgery which helps in the treatment of vision loss. Analyzing the thickness, curvature, and corneal surface, eye specialists can diagnose conditions like keratoconus and fit contact lenses as per the unique characteristics of the individual. Optical Coherence Tomography(OCT) accurately creates images of the blood flow of the retina and eye structure. These positive developments will bolster the growth of the optometry equipment market. The non-invasive OCT equipment creates detailed 3D scans without using injected fluorescent dyes. The process helps in treating the diseases of the retina such as diabetic retinopathy and vessel occlusions. Furthermore, automation and robotic surgery are being researched for mechanizing capsulotomy and optimizing manual processes.

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OPTOMETRY EQUIPMENT MARKET SHARE ANALYSIS

Based on type, retina examination will grow the highest in the optometry equipment market share due to increasing cases of glaucoma, retinal disorders, and awareness of ocular health.

Based on application, eye clinics will witness significant growth due to the growing number of eye disorders amongst the geriatric population, a large number of patients getting treated in clinics, and the expansion of private clinics in developing countries.

Based on region, North America will maintain dominance in the optometry equipment market share due to the presence of key players, rising number of chronic eye diseases, and increasing healthcare costs. Europe and Asia-Pacific are the second largest.

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Market By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key players

Alcon
Luneau Technology Group
Canon
Carl Zeiss
Essilor Instruments
Heidelberg Engineering
Topcon Medical Systems
HEINE Optotechnik
NIDEK

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