Dublin, Aug. 30, 2022 (GLOBE NEWSWIRE) -- The "Optometry Equipment Market by Type (OCT, Ophthalmoscope, Autorefractor, Tonometer, Slitlamps, Wavefront Analyzer), Application(General Examination, Cataract, Glaucoma, Macular Degeneration), End User(Clinics, Hospitals) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global optometry equipment market is projected to reach USD 5.4 billion by 2027, from USD 4.0 billion in 2022, at a CAGR of 6.4%. Market growth is driven by the rising technological advancements in optometry equipment and the growing awareness of early disease diagnosis in developing countries.
The rising geriatric population, technological advancements in ophthalmic devices, rising government initiatives as well as growing healthcare expenditures are the factors contributing to this. For accurate diagnosis and treatment of these diseases adoption of diagnostic tests are necessary, driving the growth of the optometry equipment market
Retina and glaucoma examination products segment accounted for the largest share of the optometry equipment market, by type
According to Type, the global optometry equipment market is divided into retina and glaucoma examination products, general examination products and cornea and cataract examination products. The rising incidence of glaucoma and retinal disorders and awareness of ocular health are the major drivers for the growth of retina and glaucoma examination products. Thus, the market was led by retina and glaucoma examination products in 2021.
General examination segment accounted for the largest share in the market, by application
According to Application, the optometry equipment market is segmented into general examinations, cataract, glaucoma, age-related macular degeneration and other applications. In 2021, the general examination segment accounted for the largest share of the global optometry equipment market, by application. The major share of this segment is because of the increase in awareness of eye health, rising geriatric population and increasing prevalence of various eye disorders.
Clinics segment accounted for the largest share in the market, by end user
By end user, the optometry equipment market is bifurcated into clinics, hospitals and other end users. In 2021, the clinics segment accounted for the largest share of the global optometry equipment market. A significant portion of the market can be attributable to the rising incidences of eye diseases in the elderly population, good patient population treated in clinics and the rise in the number of private clinical practices in developing nations.
The Asia Pacific market is expected to grow at the highest CAGR during the forecast period
The global optometry equipment market is segmented into five regions - North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to witness the highest growth in the optometry equipment market during the forecast period. This can be attributed to factors such as continuously rising healthcare expenditures, government efforts to increase awareness about the eye examination, an increasing geriatric population. Furthermore, supportive government regulations will further aid the growth of this market during the forecast period.
Market Dynamics
Drivers
- Increasing Incidence of Eye Disorders
- 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
- Emerging Markets
Challenges
- Low Awareness & Limited Accessibility to Eye Care in Low-Income Economies
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Optometry Equipment Market, by Type
7 Optometry Equipment Market, by Application
8 Optometry Equipment Market, by End-user
9 Optometry Equipment Market, by Specialty
10 Optometry Equipment Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Carl Zeiss Meditec AG (Germany)
- Alcon (Switzerland)
- EssilorLuxottica (France)
- Topcon Corporation (Japan)
- Bausch Health Companies Inc. (Canada)
- NIDEK Co. Ltd. (Japan)
- Canon Inc. (Japan)
- Johnson and Johnson (US),
- HEINE Optotechnik (Germany)
- Revenio Group PLC (Finland)
- Haag-Streit Group (Switzerland)
- Heidelberg Engineering (Germany)
- Luneau Technology (France)
- Sonomed Escalon (US)
- Keeler Ltd. (UK)
- Reichert Technologies (US)
- Oculus Inc. (US)
- Kowa American Corporation (US)
- Ziemer Ophthalmic Systems AG (Switzerland)
- Huvitz (South Korea)
- Neitz Instruments Co. Ltd. (Japan)
- Rexxam Co. Ltd. (Japan)
- Rudolf-Riester GmbH (Germany)
- FREY (Poland)
- Yeasn (China).
For more information about this report visit https://www.researchandmarkets.com/r/kvxu55
Attachment
