Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Global Optometry Equipment Market by Type (OCT, Ophthalmoscope, Autorefractor, Tonometer, Slitlamp, Wavefront Analyzer), Application (General Examination, Cataract, Glaucoma), End User (Eye Clinics, Hospitals), and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global optometry equipment market is valued at an estimated USD 4.5 billion in 2024 and is projected to reach USD 6.1 billion by 2029, at a CAGR of 6.4% during the forecast period
Growing awareness of early disease diagnosis in emerging nations and increasing technological improvements in optometry equipment are driving market expansion. A growing number of people are becoming older, ophthalmic device technology is advancing, there are more government programs, and healthcare costs are rising. Severe eye disorders - which include cataracts, reduced vision, glaucoma, and age-related macular degeneration - are more common as people age, especially after the age of sixty. Adoption of diagnostic tests is required for accurate diagnosis and treatment of various ailments, which is fueling the market expansion for optometry equipment.
Four regions make up the global market for optometry equipment: North America, Europe, Asia Pacific and Rest of the World (Latin America, the Middle East &Africa and GCC Countries). Over the course of the forecast period, the optometry equipment market is anticipated to develop at the fastest rate in the Asia Pacific region. This can be linked to a number of things, including steadily rising healthcare costs, government initiatives to raise awareness of eye exams, and an aging population. Moreover, favorable government policies will contribute to this market's expansion throughout the forecast period.
The key players in this market are Carl Zeiss Meditec AG (Germany), Alcon (Switzerland), EssilorLuxottica (France), Topcon Corporation (Japan), NIDEK Co.Ltd. (Japan), Heidelberg Engineering (Germany), Sonomed Escalon (US), and Canon Inc. (Japan), among others.
Retina and glaucoma examination products segment accounted for the largest share of the optometry equipment market, by type
Type categorizes the worldwide optometry equipment market into three segments: products for general examination, cornea and cataract examination, and goods for evaluation of glaucoma and retina. The main factors propelling the growth of retina and glaucoma examination goods are the increasing prevalence of glaucoma and retinal illnesses as well as increased awareness of ocular health. Retinal and glaucoma examination products so topped the market in 2023.
General examination segment accounted for the largest share in the market, by application
The market for optometry equipment is divided into segments based on age-related macular degeneration, cataracts, glaucoma, and general examinations, according to Application. By application, the general examination category held the biggest proportion of the global optometry equipment market in 2023. The growing senior population, growing awareness of eye health, and increased prevalence of various eye ailments account for the majority of this category.
Eye Clinics segment accounted for the largest share in the market, by end user
Hospitals, eye clinics, and other end users make up the two segments of the optometry equipment market based on end user type. The sector that held the biggest share of the global optometry equipment market in 2023 was clinics. A sizeable chunk of the market can be attributed to the growing number of private clinical practices in emerging countries, the good patient population handled in clinics, and the rising frequency of eye illnesses in the older population.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 278 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.5 Billion |
| Forecasted Market Value (USD) by 2029 | $6.1 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Premium Insights
- Increasing Incidence of Eye Disorders to Drive Market During Forecast Period
- Retina & Glaucoma Examination Products Segment to Dominate Market During Forecast Period
- General Examination Segment to Dominate Market During Forecast Period
- Eye Clinics Segment to Dominate Market in 2029
- Asia-Pacific Region to Register Highest Growth Rate During Forecast Period
Market Dynamics
Drivers
- Increasing Incidence of Eye Disorders
- Cataracts
- Glaucoma
- Technological Advancements in Ophthalmic Devices
- Rising Government Initiatives to Control Visual Impairment
- Increasing Healthcare Expenditure
Restraints
- High Cost of Optometry Equipment
- Growing Adoption of Refurbished Optometry Equipment
Opportunities
- Growth Opportunities in Emerging Markets
Challenges
- Low Awareness and Limited Accessibility to Eye Care in Low-Income Economies
Company Profiles
Key Players
- Carl Zeiss Meditec AG
- Essilorluxottica SA
- Alcon
- Topcon Corporation
- Bausch Health Companies Inc.
- Canon Inc.
- Johnson & Johnson
- Revenio Group
- Escalon Medical
- Nidek Co. Ltd.
- Heine Optotechnik
- Haag-Streit Group
- Heidelberg Engineering Inc.
Other Players
- Reichert Technologies
- Keeler Ltd.
- Ziemer Ophthalmic Systems
- Huvitz
- Rexxam Co. Ltd.
- Oculus Inc.
- Kowa American Corporation
- Rudolf Riester GmbH
- Frey
- Luneau Technology
- Chongqing Yeasn Science & Technology Co. Ltd. (Yeasn)
- Neitz Instruments Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ocvm9c
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