An In-Depth Look at the Current State and Future Outlook

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Increase in prevalence of eye diseases is a key factor driving the market revenue growth

VANCOUVER, BC, CANADA, April 17, 2023 /EINPresswire.com/ — 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.

The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness. The market intelligence report takes a closer view of the global market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines the optometry equipment market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the optometry equipment industry.

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Some Key Highlights From the Report

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 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.
The leading contenders in the global Optometry Equipment market are listed below:

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

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Optometry Equipment Market Segmentation:

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
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Regional Outlook of the Optometry Equipment Market

The global Optometry Equipment market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Optometry Equipment market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

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Key reasons to buy the Global Optometry Equipment Market report:

The latest report comprehensively studies the global Optometry Equipment market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market. 

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