Dublin, July 04, 2023 (GLOBE NEWSWIRE) -- The "Vision Screeners Market - Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The vision screeners market is expected to register a CAGR of 5.0% during the forecast period.
COVID-19 initially impacted the vision screening sector. Due to global lockdowns, ophthalmic consultations and diagnosis were delayed.
However, the industry is rebounding strongly in the post-pandemic scenario. Over the previous two years in 2021 and 2022, the market recovery has been led by an increase in vision screener device sales, new product launches, and increased eye diseases.
The vision screener market is likely to grow during the forecast period due to the growing incidences of eye strain disorders, increased awareness about eye health, and technological advancements.
Vision screeners are used in detecting several vision problems. They are useful for the treatment of eye-related disorders. The increasing rate of vision problems is common due to a lack of proper nutrition, irregular eye check-ups, inconsistent care, and prolonged screen time.
Companies Mentioned
- Baxter International (Hill-Rom Holdings, Inc.)
- FIM Medical SAS
- OCULUS Inc.
- Plusoptix Inc.
- Stereo Optical Company Inc.
- Adaptica Srl
- Essilor Instruments USA
- Honeywell International Inc.
Key Highlights
As per the 2021 update from BrightFocus Foundation, more than 3 million Americans are living with glaucoma, and 2.7 million, aged 40 and older, are affected by open-angle glaucoma.
Moreover, according to the 2022 update from National Eye Institute, between 2010 and 2050, the estimated number of people with cataracts is likely to be doubled from 24.4 million to 50 million.
Increasing eye-related disorders and improved screening and diagnosis are projecting a significant impact on the market's growth. These factors lead to the widespread use of vision screeners for early indications and treatments, further boosting the market's growth.
Furthermore, rising government initiatives, product launches, and R&D in ophthalmology are driving market expansion. According to the WHO July 2021 update, governments adopted a new resolution at the UN general assembly pledging additional efforts to make eye care services a critical component of universal health coverage and address the growing impact of vision loss on sustainable development.
Additionally, in August 2022, Thane-based Swaraashi Netralya introduced two state-of-the-art ophthalmic devices named '3nethra neo HD FA' and 'Mirante SLO/OCT to diagnose all ophthalmic medical conditions in children and adults in areas where medical help is the farthest away.
Hence, considering the above-mentioned factors, the vision screeners market is likely to witness growth during the forecast period. However, the high cost of vision screener devices is restraining market growth.
Vision Screeners Market Trends
Hospital Segment in Vision Screeners Market is Estimated to Witness a Healthy Growth in Future
Hospital segments are estimated to witness healthy growth due to the increasing number of targeted patient pools, growing awareness about health concerns, and the increasing number of hospitals worldwide. Vision screeners include several types of tests, such as vision screening, binocular, and color vision testing.
Moreover, the growing number of eye disorders globally is leading to the adoption of regular eye checkups and propelling the overall market. For instance, according to the NGR update, around 111 million people are likely to be globally affected by Glaucoma by 2040.
Furthermore, new hospital launches, collaborations, growing patient pool are major factors boosting the market growth. For instance, as per the 2021 news update, Sharp Sight Eye Hospitals launched its state-of-the-art facility and biggest eye hospital in Baghat Chowk, Estate Barzulla, Srinagar.
Furthermore, in September 2021, Rainbow Children's Hospital, Chennai, in association with Sankara Nethralaya, launched a niche and advanced eye care facility which is likely to be expertise in the diagnosis and eye treatment for children. Additionally, in December 2021, Eye-Q Super Specialty Eye Hospitals re-launched one of the most advanced LASIK machines. Such increased launches of eye care facilities are likely to utilize vision screeners, thereby driving market growth.
Additionally, hospital expansion and government collaboration in the field of eye care are expected to promote market growth during the forecast period. For instance, in May 2022, Sankara Eye Hospital launched dedicated Centres of Excellence in vitreoretinal diseases and oncology and pediatric ophthalmology, strabismus, and neuro-ophthalmology in Bengaluru.
Hence, considering the above-mentioned factors, the hospital segment is likely to witness growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to hold a significant market share in the global vision screeners market due to the increasing aging population, the rising burden of eye disorders, and growing awareness among the population. For instance, in 2021, the Canadian Ophthalmological Society, during Glaucoma Awareness Month, stated that glaucoma affects more than 800,000 Canadians every year.
Glaucoma could affect more people in Canada in the coming years, which is predicted to drive market growth. Additionally, per a study published in the Investigative Ophthalmology & Visual Science in June 2020, in Mexico by 2030, the number of people with glaucoma is estimated to reach 1.06 million by 2030, increasing to 1.27 million in 2040 and 1.43 million in 2050.
Increased government initiatives, R&D, product launches, and digital healthcare system deployment are expected to drive market growth.
According to news published in June 2022 in the Institute NEI, researchers from the NEI have uncovered a new disease that damages the macula, a small portion of the light-sensing retina required for clear, central vision. Scientists published their findings on the yet-unnamed new macular degeneration. These types of studies encourage the usage of vision screeners, ultimately promoting market growth.
Moreover, in August 2021, Maryland-based RightEye launched eye care's first automated sensorimotor exam for binocular vision testing. RightEye Sensorimotor is a simple, all-in-one examination method that optometrists and ophthalmologists can use on every patient to objectively identify and treat binocular vision problems and oculomotor dysfunction.
Considering the abovementioned factors, North America is expected to witness growth in the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Popularity of Health Concern
4.2.2 Growing Incidences of Eye Strain Disorder
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Devices
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Vision Screening Test
5.1.2 Binocular Testing
5.1.3 Color Vision Testing
5.1.4 Other Types
5.2 By End User
5.2.1 Hospitals
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ujaevd
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