Chicago, April 10, 2024 (GLOBE NEWSWIRE) -- Optometry Equipment market in terms of revenue was estimated to be worth $4.5 billion in 2024 and is poised to reach $6.1 billion by 2029, growing at a CAGR of 6.4% from 2024 to 2029 according to a latest report published by MarketsandMarkets™. The three main factors propelling the growth of the optometry equipment market are the aging population, the rise in eye illnesses, and the rising cost of healthcare in emerging nations.
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Optometry Equipment Market Scope:
| Report Coverage | Details |
| Market Revenue in 2024 | $4.5 billion |
| Estimated Value by 2029 | $6.1 billion |
| Growth Rate | Poised to grow at a CAGR of 6.4% |
| Market Size Available for | 2022–2029 |
| Forecast Period | 2024–2029 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, application, end user, and region |
| Geographies Covered | North America, Europe, Asia Pacific and Rest of the World (Latin America, the Middle East & Africa and GCC Countries) |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growth opportunities in emerging countries |
| Key Market Driver | Increasing incidence of eye disorders |
The retina and glaucoma examination products, general examination products, and cornea and cataract examination products comprise the type-based segments of the worldwide optometry equipment market. During the projected period, the optometry equipment market, with its focus on retina and glaucoma examination items, is anticipated to have the greatest growth rate and market share. This segment is growing at a significant rate mostly because to an increase in glaucoma and retinal illnesses.
Based on application, the optometry equipment market is divided into categories such as general examination, cataract, glaucoma, age-related macular degeneration, and other applications. Over the course of the projection period, the general examination category is anticipated to have a larger market share. In the upcoming years, factors including the growing prevalence of eye illnesses and the increased awareness of eye care are anticipated to fuel market expansion.
Hospitals, eye clinics, and other end users comprise the end user segment of the optometry equipment market. In terms of worldwide market share for optometry equipment in 2023, the clinics sector led. The segment's market share is influenced by a large patient pool that is treated in clinics, an increasing number of private clinics and practitioners in emerging countries, and an increase in the prevalence of visual impairments among the elderly.
The optometry equipment market is segmented into four major regions—North America, Europe, the Asia Pacific and Rest of the World (Latin America, the Middle East & Africa and GCC Countries). Over the course of the forecast period, the Asia Pacific market is anticipated to develop at the greatest CAGR. The rising incidence of ocular illnesses, rising healthcare spending in certain APAC nations, and the existence of high-growing markets in the area are all factors contributing to this market's rise. The positive regulatory climate in this area is also anticipated to fuel market expansion.
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Optometry Equipment market major players covered in the report, such as:
- 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)
- Escalon Medical (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)
- and Among Others
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This report categorizes the optometry equipment market into the following segments and subsegments:
By Type
- Retina and Glaucoma Examination Products
- OCT Scanners
- Fundus Cameras
- Perimeters/Visual Field Analyzers
- Opthalmoscopes
- Retinoscopes
- General Examination Products
- Autorefractors and Keratometers
- Opthalmic Ultrasound Systems
- Tonometers
- Slit Lamps
- Lensmeters
- Chart Projectors
- Cornea and Cataract Examination Products
- Wavefront Aberrometers/Analyzer
- Optical Biometry System
- Corneal Topographical System
- Specular Microscopes
By Application
- General Examination
- Cataract
- Glaucoma
- Age-related Macular Degeneration (AMD)
- Other Applications
By End User
- Eye Clinics
- Hospitals
- Other End Users
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East & Africa
- GCC Countries
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Key Market Stakeholders:
• Senior Management
• End User
• Finance/Procurement Department
• R&D Department
Report Objectives:
- To define, describe, segment, and forecast the global optometry equipment market, by type, application, end user, and region
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall optometry equipment market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific and Rest of the World (Latin America, the Middle East & Africa and GCC Countries)
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze company developments such as product launches & approvals, partnerships, acquisitions, agreements, and other developments
- To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product excellence
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