Optometry Equipment Market by Type (OCT, Ophthalmoscope, Autorefractor, Tonometer, Slitlamps, Wavefront Analyzer), Application(General Examination, Cataract, Glaucoma, Macular Degeneration), End User(Clinics, Hospitals) - Global Forecast to 2027
The global optometry equipment market is projected to reach 5.4 billion by 2027, from 4.0 billion in 2022, at a CAGR of 6.4%. Market growth is driven by the rising technological advancements in optometry equipment and the growing awareness of early disease diagnosis in developing countries. The rising geriatric population, technological advancements in ophthalmic devices, rising government initiatives as well as growing healthcare expenditures are the factors contributing for this. The risk of getting severe eye disorders increases significantly with age, particularly after the age of 60 which includes age-related macular degeneration, cataracts, low vision, and glaucoma. For accurate diagnosis and treatment of these diseases adoption of diagnostic tests are necessary, driving the growth of the optometry equipment market
“Retina and glaucoma examination products segment accounted for the largest share of the optometry equipment market, by type”
According to Type, the global optometry equipment market is divided into retina and glaucoma examination products, general examination products and cornea and cataract examination products. The rising incidence of glaucoma and retinal disorders and awareness of ocular health are the major drivers for the growth of retina and glaucoma examination products. Thus, the market was led by retina and glaucoma examination products in 2021.
“ General examination segment accounted for the largest share in the market, by application”
According to Application, the optometry equipment market is segmented into general examinations, cataract, glaucoma, age-related macular degeneration and other applications. In 2021, the general examination segment accounted for the largest share of the global optometry equipment market, by application. The major share of this segment is because of the increase in awareness of eye health, rising geriatric population and increasing prevalence of various eye disorders.
Clinics segment accounted for the largest share in the market, by end user”
By end user, the optometry equipment market is bifurcated into clinics, hospitals and other end users. In 2021, the clinics segment accounted for the largest share of the global optometry equipment market. A significant portion of the market can be attributable to the rising incidences of eye diseases in the elderly population, good patient population treated in clinics and the rise in the number of private clinical practices in developing nations.
“The Asia Pacific market is expected to grow at the highest CAGR during the forecast period”
The global optometry equipment market is segmented into five regions - North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to witness the highest growth in the optometry equipment market during the forecast period. This can be attributed to factors such as continuously rising healthcare expenditures, government efforts to increase awareness about the eye examination, an increasing geriatric population. Furthermore, supportive government regulations will further aid the growth of this market during the forecast period.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%
Lists of Companies Profiled in the Report:
Carl Zeiss Meditec AG (Germany)
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)
Sonomed Escalon (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)
This report provides a detailed picture of the global optometry equipment market. It aims at estimating the size and future growth potential of the market across different segments, such as type, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall optometry equipment market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
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