Market Summary:

The global optometry equipment market size was significantly robust in 2020 and is expected to register a rapid revenue CAGR over the forecast period. Industry analysis indicates that demand for optometry equipment has been rising substantially in the recent past, and adoption across Biotechnology and pharmaceutical industries has been increasing in parallel due to changing market trends and consumption patterns, and these factors are expected to continue to support market revenue growth to a significant extent over the forecast period. Other factors driving revenue growth of the market include increasing prevalence of various eye diseases and technological advancements in optometry equipment. Furthermore, availability of inventive diagnostic tools such as Digital fundus camera, optimal coherence tomography, ultra-widefield internal imaging camera, developed retinal camera, tonometer, specular microscope, visual field tester, automated refractor, and others, are major factors enhancing diagnostic ability of optometrist. Increasing traction of these solutions is expected to continue to support global market growth going ahead.

Market Dynamics:
Drivers:

Optometry equipment market revenue is increasing rapidly due to key factors such as rising prevalence of eye diseases and rapidly increasing global geriatric population and increasing prevalence of eye- and sight-related issues and conditions. Furthermore, government initiatives to control and treat visual impairment is another significant factor resulting in positive impact on market growth. Moreover, rising healthcare expenditure and technological advancements in the field of optometry are contributing significantly to market growth. Moreover, increased research and development activities in Visible-Light Optical Coherence Tomography (VIS-OCT) and government funding are also fueling segment revenue growth. Increasing healthcare expenditure for the treatment of vision loss, blindness, and other vision-threatening conditions are expected to drive demand for optometry equipment over the forecast timeframe. Furthermore, growing diabetic population globally is expected to fuel growth of the optometry equipment market going ahead. Insufficient availability of primary Eye Care, which is exacerbated by a lack of awareness and poor access to quality eye care products and treatment is a major factor driving rising incidence of blindness.

Optometry equipment is used to diagnose and treat disorders and deformities of the eye and visual system. Optometrists are medical professionals who use optometry equipment to diagnose vision problems. This equipment is used to inspect the cornea and cataracts, glaucoma and retina, and perform other general examinations. Visual field analyzers, retinoscopes, fundus cameras, autorefractors, and others are included in optometry equipment.

Restraints:

However, high cost of devices and equipment and lack of expertise and skilled personnel are some key factors that could hamper growth of the global optometry equipment market to some extent. In addition, lack of awareness among individuals living in rural areas and stringent regulations to be followed during surgical procedures is also a factor to consider. Stringent regulations to approve emerging technologies are also hampering growth of the market to certain extent.

Market Insights:
Type Outlook:

The retina and glaucoma examination products segment accounted for largest revenue share in 2020. Rising prevalence of glaucoma and scotoma are key factors contributing to revenue growth of this segment and the trend is expected to continue going ahead.

Application Outlook:

The hospitals segment accounted for largest revenue share among the application segments in the optometry equipment market owing to majority of ophthalmic surgeries being performed in hospitals owing to availability of required facilities. However, high treatment costs in outpatient departments may restrain segment growth to some extent over the forecast period. The clinics segment among the application segments,  is expected to register a moderate revenue growth rate during the forecast period due to relatively steady patient footfalls due to lower treatment costs as compared to hospitals, and the greater availability of skilled surgeons at these settings.

Region Outlook:

Based on region, the optometry equipment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to continue to account for largest revenue share in the global optometry equipment market due to factors such as increasing prevalence of eye diseases and increasing geriatric population, advanced healthcare infrastructure and robust presence of major players in countries in the region.

North America accounted for largest revenue share, followed by Europe and Asia Pacific respectively in 2020. Availability of advanced healthcare system, increasing geriatric population, rising prevalence of ocular diseases, use of technologically advanced eye examination equipment, rising adoption of ophthalmology treatments and surgeries, and presence of major players are also factors driving growth of the market in Europe.

Asia Pacific market revenue is expected to register a rapid revenue growth rate over the forecast period, owing to increasing aging population, rise in eye-related conditions and infections due to various economical and geographic factors, rising pollution levels, as well as living conditions and lifestyle-related diseases in countries in the region.

Companies profiled in the market report

Carl Zeiss Meditec AG, HAAG-STREIT GROUP, Topcon Medical Systems, NIDEK CO., LTD

Heidelberg Engineering Inc., Novartis AG, Canon Singapore Pte. Ltd., ESSILOR INTERNATIONAL S.A., HEINE Optotechnik GmbH & Co., KG, Ziemer Ophthalmic Systems AG are some of the major companies profiled in the market report.

Major companies are adopting various strategies, including mergers, acquisitions, partnerships, and new product development and launches, among others, to stay ahead of the competition and expand market footprint and revenue share.

In February 2021, Carl Zeiss AG introduced its BlueGuard blue light blocking lenses, in response to extensive reliance on technology and media in the “new normal” scenario. The technology has been incorporated into the lens material itself, providing up to 40% protection from blue light with wavelengths ranging from 400 to 455 nm, which is commonly associated with digital eye strain.

In July 2020, Topcon Medical Systems acquired Henson Perimeter Business, such as the Henson 9000 and 7000, from Elektron Eye Technology (EET) of Cambridge, U.K. With Topcon\'s growing emphasis on screening and early disease detection, the Henson product range will assist the company in expanding its optometry equipment solutions business.

Segments covered in the report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global optometry equipment market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global optometry equipment market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

For the purpose of this report, Reports and Data has segmented the global optometry equipment market on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • General Examination Products
  • Retina and Glaucoma Examination Products
  • Cornea and Cataract Examination Products
  • Others

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Hospital
  • Clinic
  • Others

Region Outlook (Revenue, USD Billion; 2018 – 2028)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

REQUEST SAMPLE REPORT

Get Free Sample Report

REQUEST SAMPLE REPORT

REQUEST FOR CUSTOMIZATION

Tailor-make Your Research

REQUEST CUSTOMIZATION

Key questions answered by the report