Global Optometry Equipment Market Forecast to 2030

The Optometry Equipment Market report will provide readers, stakeholders, and companies with in-depth information about market size, revenue growth, and overall market dynamics in order to help them strengthen their position in the global Optometry Equipment Market. It also contains detailed information on key factors, constraints, limitations, and challenges, as well as market segmentations such as product type, application, and regional bifurcation.

The global optometry equipment market size reached USD 60.82 Billion in 2021 and is expected to register a revenue CAGR of 4.6% during the forecast period, according to latest analysis by Emergen Research. According to the Centre of Disease Control and Prevention (CDC), glaucoma affects around 3 million Americans. It is the world's second biggest cause of blindness. The most prevalent kind of glaucoma is open-angle glaucoma, which causes increased eye pressure. Cataracts affect 30% of people aged 65 and more, impairing vision in one or both eyes. Diabetic retinopathy is fairly widespread in the United States. A total of 899,000 persons aged 40 and over are predicted to suffer diabetic retinopathy, which will damage the vision of 4.1 million adults.

An increase in technology for effective treatment of eye diseases is another key factor contributing to the market revenue growth. For instance, IDx-DR, a novel Artificial Intelligence (AI) software-based application certified by the Food and Drug Administration (FDA), is a groundbreaking programme designed to detect diabetic retinopathy (including macular edema). This is the first instance of Artificial Intelligence (AI) being used in ophthalmology to test for diabetic retinopathy without the requirement for an eye care specialist to interpret the results. Incorporating the IDx-DR system into a variety of eye care-related healthcare scenarios is straightforward. These variables are leading to enhanced revenue growth for the eye care industry.

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Competitive Terrain:

The global Optometry Equipment industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Carl Zeiss Meditec Group, Nidek Co., Ltd, Alcon, Canon Inc., Heidelberg Engineering GmbH, Johnson Johnson Services, Inc., Bausch Health Companies Inc., Escalon Medical Corp., EssilorLuxottica, and Revenio Group Corporation

Research Report on the Optometry Equipment Market Addresses the Following Key Questions:

• Who are the dominant players of the Optometry Equipment market?
• Which regional market is anticipated to have a high growth rate over the projected period?
• What consumer trends and demands are expected to influence the operations of the market players in the Optometry Equipment market?
• What are the key growth drivers and restraining factors of the Optometry Equipment market?
• What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
• What is the overall impact of the COVID-19 pandemic on the Optometry Equipment market and its key segments?

Market Overview:

The report bifurcates the Optometry Equipment market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

• Type of Examination Outlook (Revenue, USD Billion; 2019-2030)
• Retina Examination
• Cornea Examination
• General Examination

• End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Eye Specialty Centers
• Hospitals
• Academic Research Institutes

• Regional Outlook (Revenue, USD Billion; 2019–2030)
• North America
1. U.S.
2. Canada
3. Mexico
• Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
• Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
• Latin America
1. Brazil
2. Rest of LATAM
• Middle East Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

Regional Landscape section of the Optometry Equipment report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Some Key Highlights From the Report

• The retina examination segment accounted for a significant revenue share in 2021. An optical coherence tomography (OCT) scan is an important tool for the early detection of many severe eye disorders. The OCT scan employs a laser (without radiation) to produce better-quality pictures of the retina and optic nerve layers. The pictures produced by the OCT scan are also a useful tool in helping patients comprehend the problem they may be facing owing to the difficulty that can be seen clearly and in 3D on the screen. The OCT scan may also be done in a darkened environment, which allows for faster and more precise results—particularly when the location of the anterior angle in a darkened room is critical in the diagnosis of angle-closure glaucoma.
• Hospital segment accounted for a significant revenue share in 2021. High-end optometry equipment is expected to remain in high demand, particularly for treating hospital outpatients, as the requirement for speedier examinations and prompt result delivery takes center stage. Outpatient departments in hospitals are projected to continue to be the principal end users of optometry equipment. The growing global burden of ocular illnesses is driving patients to seek rapid diagnosis and treatment through primary points of contact. According to the United Kingdom's National Health Service (NHS), ophthalmic OPD appointments account for 10% of all visits in the country.
• Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth. In addition, the presence of key players is also driving revenue growth of the market. For instance, on August 2020, Topcon Healthcare, a leading provider of medical equipment and software solutions to the global eye care community, announced the release of its new Aladdin-M instrument in the United States. Aladdin-M integrates corneal topography, pupillometry, and optical biometry to assess corneal curvature, pupil dynamics, and axial length metrics objectively. The flexible, all-in-one Aladdin-M has capabilities for keratoconus screening and contact lens fitting in addition to the instruments needed to assist myopia control.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Optometry Equipment market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

• Data and information related to the consumption rate in each region
• Estimated increase in the consumption rate
• Proposed growth of the market share of each region
• Geographical contribution to market revenue
• Expected growth rate of the regional markets

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