Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Optometry Equipment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global optometry equipment market is anticipated to grow at a CAGR of 6.5% during the forecast period of 2022 to 2030. The rising technological advances in optometry equipment and the rising awareness of early disease diagnosis in developing nations are driving market expansion. Increasing awareness of eye care services has led to an increase in the number of eye care providers, necessitating differentiation of services in terms of new and innovative technology.
The majority of optometrists are focusing on increasing the adoption of new technologies for eye examinations due to the cost-effectiveness brought about by technological advances. Increasing demand for advanced optometry in eye examinations has prompted diagnostic equipment makers in the vision care business to embrace innovation and create innovative, miniaturized, portable, and user-friendly examination instruments and technologies.
Increasing Prevalence of Eye Conditions
Globally, the incidence of major eye illnesses is rising, and vision impairment is a serious public health concern. This worry is caused by the increasing elderly population, technical advances in ophthalmic technologies, increasing government activities, and rising healthcare expenditures. The chance of developing severe eye problems, such as age-related macular degeneration, cataracts, poor vision, and glaucoma, increases considerably with age, especially after the age of 60. The adoption of diagnostic tests is required for accurate diagnosis and treatment of various illnesses, boosting the growth of the optometry equipment market.
Increasing Incidence of Digital Eye Strain
In this age of the digital revolution, reliance on smart phones and other devices is unavoidable. Excessive reliance on these technologies has resulted in numerous drawbacks, including irreversible sight problems. Dry eyes, redness, and itching are some of the most prevalent symptoms of severe dependence, which frequently progresses to more serious situations. According to BankMyCell, in 2021 there will be 3.8 billion smart phone users worldwide. This represents over half of the world's population as smart phone owners. The United Kingdom has the greatest percentage of smart phone users, with about 83% (55.5 million) of the population possessing one. This is followed by the United States (79.1%) and Germany (79.9%). India is also a significant user of smart phones, with over 500 million individuals possessing these gadgets.
Retina and Glaucoma Examination Dominates the Optometry Equipment Market
On the basis of product type, the worldwide optometry equipment market is divided into the retina and glaucoma examination goods, general examination products, and cornea and cataract examination products. Increasing rates of glaucoma and retinal illnesses, as well as a growing diabetic and hypertensive population, are the primary market growth drivers for this segment.
General Examination Segment Dominates the Application Market
By application, the market for optometry equipment is split into general examinations, cataracts, glaucoma, age-related macular degeneration, and other applications. The majority of this segment's revenue is attributable to the increasing knowledge of ocular care, the prevalence of eye illnesses, and the aging population.
The clinic's Segment Remains the Largest End User Segment
By end user, the optometry equipment market is divided into clinics, hospitals, and other end users. The rising prevalence of eye problems among the elderly population, the enormous number of patients treated in clinics, and the expanding number of private clinics in developing nations all contribute to this segment's large market share.
North America Remains as the Global Leader
In 2021, North America held the largest market share for optometry equipment. Numerous factors, including the increasing frequency of chronic eye disorders, growing healthcare expenditures, and the presence of numerous leading manufacturers, have contributed to the region's large market share. Due to the rising frequency of research aimed at advancing ophthalmic care, the U.S. market is expected to have significant growth through 2021 and beyond. The incidence of the top four diseases, glaucoma, diabetes, age-related macular degeneration, and cataracts, is rising as a result of the aging population trend.
Drug Approvals and Innovation Remains the Key Market Strategy
The global optometry market is highly fragmented, with numerous multinational and regional competitors present. Principal participants in the worldwide optometry market are engaged in regulatory approvals, technologically enhanced products, the introduction of new goods, and acquisition & cooperation partnerships with other companies. These methods are likely to stimulate the global optometry market's expansion. The key companies in the Global Optometry Equipment Market include Carl Zeiss, Haag-Streit, Topcon, NIDEK, Heidelberg Engineering, Escalon, Novartis, Valent, Canon, and Essilor are the market leaders.
Market Segmentation
Devices
- Retina and Glaucoma Examination Products
- OCT Scanners
- Fundus Cameras
- Perimeters/Visual Field Analyzers
- Ophthalmoscopes
- Retinoscopes
- General Examination Products
- Auto refractors and Keratometers
- Ophthalmic Ultrasound Systems
- Tonometers
- Slit Lamps
- Lensmeters
- Chart Projectors
- Cornea and Cataract Examination Products
- Wavefront Aberrometers/Analyzer
- Optical Biometry System
- Corneal Topographical System
- Specular Microscopes
Application
- General Examination
- Cataract
- Glaucoma
- Age-related Macular Degeneration(AMD)
- Other Applications
Distribution Channel
- Hospital Pharmacies
- Online & Retail Stores
- Optometry Clinics
- Optical Centers
- Others
Key Topics Covered:
1. Preface
2. Executive Summary
3. Optometry Equipment Market: Competitive Analysis
4. Optometry Equipment Market: Macro Analysis & Market Dynamics
5. Optometry Equipment Market: By Devices, 2020-2030, USD (Million)
6. Optometry Equipment Market: By Application, 2020-2030, USD (Million)
7. Optometry Equipment Market: By Distribution Channel, 2020-2030, USD (Million)
8. North America Optometry Equipment Market, 2020-2030, USD (Million)
9. UK and European Union Optometry Equipment Market, 2020-2030, USD (Million)
10. Asia Pacific Optometry Equipment Market, 2020-2030, USD (Million)
11. Latin America Optometry Equipment Market, 2020-2030, USD (Million)
12. Middle East and Africa Optometry Equipment Market, 2020-2030, USD (Million)
13. Company Profile
Companies Mentioned
- Carl Zeiss
- Haag-Streit
- Topcon
- NIDEK
- Heidelberg Engineering
- Escalon
- Novartis
- Valent
- Canon
- Essilor
For more information about this report visit https://www.researchandmarkets.com/r/cjem1m
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