Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Optometry Equipment Market by Type, Application, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report the optometry equipment market was valued at $4,240.8 million in 2021, and is projected to reach $7,812.1 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
Optometry equipment are instruments or devices used by ophthalmologist for general eye examination. Different types of optometry equipment include refractor, slit lamp, retinal camera, optical imaging, tonometer, lensometer, perimeter, and others. Others include ophthalmoscopes, specular microscope, chart projector, biometer, echo scan, phoropters.
Application of optometry equipment is done in eye disorders such as cataract, glaucoma, refractive errors, age related macular degeneration and others. Others includes diabetic retinopathy, amblyopia, and strabismus. End user of optometry equipment are clinics & specialty clinics and hospitals.
Key factors driving the growth of the optometry equipment market include increase in the prevalence of eye disorder, rise in the number of geriatric populations, rise in the prevalence of diabetes. Moreover, rising geriatric population is anticipated to increase in the prevalence of vision impairment. Thus, this factor is anticipated to fuel the demand of optometry equipment product and boosts the market growth.
For instance, according to Eurostat, the population of older people (defined here as those aged 65 years or more) in the Europe will increase significantly, rising from 90.5 million at the start of 2019 to reach 129.8 million by 2050. In addition, rise in prevalence of vision impairment is anticipated to drive the market growth. For instance, according to Statista, in Western Europe, there were over 8.5 million people affected with moderate-severe vision loss because of refractive disorders.
The market also offers growth opportunities to the key players in the market. Moreover, rise in number of product launches and product approvals for optometry equipment devices are anticipated to boost the market growth. For instance, in February 2021, Carl Zeiss AG introduced its BlueGuard blue light blocking lenses, in response to extensive reliance on technology and media in the "new normal" scenario.
The technology has been incorporated into the lens material itself, offering protection up to 40% from the blue light of wavelength range of 400 and 455 nm, typically linked to digital eye strain. In addition, in January 2021, HAAG-STREIT Diagnostics launched its Lenstar Myopia, a solution for the increasing demand for myopia management and patient education.
The solution consists of HAAG-STREIT's well-established Lenstar 900 optical biometer and the corresponding EyeSuite software called EyeSuite Myopia. The Lenstar 900 also performs keratometry to make accurate predictions about the onset and progression of myopia.
The optometry equipment market is segmented on the basis of type, application, end user and region. By type, the market is segmented into refractor, slit lamp, retinal camera, optical imaging, tonometer, lensometer, perimeter, and others. By application, the market is segmented into cataract, glaucoma, refractive errors, age related macular degeneration and others. By end user, the market is segmented into clinics & specialty clinics and hospitals.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include Carl Zeiss AG., Essilor Luxottica, Topcon Corporation, NIDEK Co Ltd., Canon Inc., Heine Optotechnik, Revenio Group PLC., Oculus Inc., Halma PLc., and Kowa American Co. There are some important players in the market such as Topcon Corporation, NIDEK Co Ltd and others.
The players in the market have been actively engaged in the adoption various strategies such as product launch, product approval and acquisition to remain competitive and gain advantage over the competitors in the market. For instance, in September 2019, ZEISS Medical Technology segment announced the launch of new CIRRUS 6000, 100kHz ultra-fast OCT system. It dramatically elevates the efficiency of advanced care practices.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the optometry equipment market analysis from 2021 to 2031 to identify the prevailing optometry equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the optometry equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global optometry equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Lensometer
- Perimeter
- Others
- Refractor
- Slit lamp
- Retinal Camera
- Optical imaging
- Tonometer
By Application
- Cataract
- Glaucoma
- Refractive Errors
- Age related macular degeneration
- Others
By End User
- Clinic and Speciality clinic
- Hospital
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 439 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $4240.8 million |
| Forecasted Market Value (USD) by 2031 | $7812.1 million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/sg6q6k
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