New York, United States, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Optometry Equipment Market Size is to Grow from USD 3.82 Billion in 2022 to USD 5.60 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period.
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Optometry equipment comprises specialized tools used by optometrists to assess vision and eye health. It includes the autorefractor for measuring focusing ability, the phoropter to determine eyeglass prescriptions, and the slit lamp for detailed eye examinations. The tonometer measures intraocular pressure to detect glaucoma, while retinoscopes and ophthalmoscopes aid retinal exams. Evolving with technology, these instruments offer precise diagnostics and personalized treatment plans, ensuring optimal vision care for patients.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Optometry Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Retina & Glaucoma Examination Products, General Examination Products, Autorefractors & Keratometry, Ophthalmic Ultrasound Systems, Tonometer, Slit Lamps, Lens meters, and Chart Projectors), By Application (General Examination, Cataract, Glaucoma, Age-related Macular Degeneration, and Others), By End-User (Clinics, Hospitals, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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In 2022, the retina & glaucoma examination products segment accounted for around 35.8% market share
On the basis of the type, the global optometry equipment market is segmented into retina & glaucoma examination products, general examination products, autorefractors & keratometry, ophthalmic ultrasound systems, tonometer, slit lamps, lens meters, and chart projectors. The retina & glaucoma examination products segment commanded the largest market share in the optometry equipment market due to its vital role in diagnosing and managing retinal and glaucoma conditions. These products, such as retinoscopes, ophthalmoscopes, and tonometers, are essential tools for optometrists to assess the health of the retina and measure intraocular pressure for early glaucoma detection. The increasing prevalence of eye disorders and the rising demand for early diagnosis and treatment contribute to the segment's dominance in the market.
The general examination segment dominated the market with more than 38.4% revenue share in 2022
Based on the application, the global optometry equipment market is segmented into general examination, cataract, glaucoma, age-related macular degeneration, and others. The general examination segment emerged as the dominant force in the optometry equipment market due to its comprehensive nature and wide applicability. This segment includes essential equipment like autorefractors, phoropters, and slit lamps, which are fundamental tools for conducting routine eye examinations, measuring visual acuity, and assessing the overall eye health of patients. As these examinations are standard procedures conducted on almost all patients seeking optometry services, the general examination segment witnesses high demand.
The clinics segment held the largest market with more than 42.6% revenue share in 2022
Based on the end-user, the global optometry equipment market is segmented into clinics, hospitals, and others. The clinics segment secured the largest market share in the optometry equipment market due to its significance as a primary point of care for vision-related issues. Clinics serve as accessible and convenient healthcare facilities where patients seek routine eye examinations, diagnosis, and treatment for various eye conditions. The growing number of specialized eye clinics, coupled with the increasing awareness of the importance of regular eye check-ups, contributes to the segment's dominance.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 4.2% over the projected period
Based on region, Asia-Pacific is projected to exhibit the fastest growth during the forecast period in the optometry equipment market. This growth is fueled by several factors, including a rising population with an increasing awareness of eye health, rapid urbanization, and improving healthcare infrastructure. The region's large pool of unmet medical needs presents significant opportunities for market expansion. Moreover, economic growth, increasing disposable incomes, and a growing middle-class population are likely to drive the demand for advanced optometry equipment.
North America dominates the optometry equipment market as it held the largest share due to a well-established healthcare infrastructure, high healthcare expenditure, and advanced technological capabilities contribute to its leadership. Additionally, North America experiences a significant prevalence of vision-related disorders, driven by factors like an aging population and digital device usage.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global optometry equipment market include Carl Zeiss Meditec AG, EssilorLuxottica, Alcon, Topcon Corporation, Bausch Health Companies Inc., Johnson & Johnson, Heidelberg Engineering GmbH, Nidek Co. Ltd., Halma PLC, Revenio Group PLC, Oculus Inc. And Other Key Vendors.
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Recent Developments
- In March 2022, Epipole, a new manufacturer of high-quality portable fundus cameras, debuted its new epiCam fundus camera at Vision Expo East 2022 in New York City. The epiCam is a high-powered, ultra-portable wireless fundus camera that uses epipole's revolutionary video direct ophthalmoscopy (VDO) platform to capture live high-resolution video footage of the living retina, as well as accompanying still photos.
- In July 2022, Sightsavers established a mobile van in Delhi-NCR as part of its National Truckers Eye Health Programme, with the sponsorship of Cholamandalam Investment and Finance Company Limited (Chola), to provide eye care services to the truckers' community. The vehicle is outfitted with the essential instruments and materials, including an ophthalmoscope, a retinoscope, trial lenses, trial frames, a lensometer, vision charts, an occluder, and a vision testing drum.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global optometry equipment market based on the below-mentioned segments:
Optometry Equipment Market, By Type
- Retina & Glaucoma Examination Products
- General Examination Products
- Autorefractors & Keratometry
- Ophthalmic Ultrasound Systems
- Tonometer
- Slit Lamps
- Lens meters
- Chart Projectors
Optometry Equipment Market, By Application
- General Examination
- Cataract
- Glaucoma
- Age-related Macular Degeneration
- Others
Optometry Equipment Market, By End-User
- Clinics
- Hospitals
- Others
Optometry Equipment Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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