Northbrook, IL 60062 -- (SBWIRE) -- 05/30/2023 -- Optometry Equipment Market is estimated to be worth $4.0 billion in 2022 and is expected to grow at a CAGR of 6.4% from 2022 to 2027, reaching $5.4 billion.

The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. This edition also covers the product and geographical footprint of the key players in the competitive landscape chapter. Market growth is driven by the rising technological advancements in optometry equipment and the growing awareness of early disease diagnosis in developing countries.

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Browse in-depth TOC on "Optometry Equipment Market"
186 – Tables
43 – Figures
232 – Pages

Driver: Increasing incidence of eye disorders

The global optometry equipment market is driven by the increasing incidence of eye disorders, such as age-related macular degeneration, glaucoma, and cataracts, among others. The incidence of eye diseases is increasing due to the increasing geriatric population and changing lifestyle patterns, such as lack of physical activity, increased intake of unhealthy food, increased exposure to digital screens, and increased pollution levels, among others. The growing prevalence of eye disorders has prompted the need for early detection and treatment, thereby driving the demand for optometry equipment. Moreover, rising awareness regarding eye care and the availability of technologically advanced optometry equipment are expected to drive the market further over the forecast period.

Opportunity: Growth opportunities in emerging countries

The optometry equipment market is expected to witness significant growth in the coming years, driven by the increasing prevalence of eye diseases and the growing awareness about vision care. According to the World Health Organization (WHO), an estimated 2.2 billion people suffer from vision impairment or blindness, with an estimated 1 billion having uncorrected refractive error. This is expected to create significant opportunities for providers of optometry equipment in the market. The rising prevalence of vision-related issues, coupled with the growing awareness of vision care, is likely to fuel the growth of the optometry equipment market. Moreover, the rising demand for advanced optometry equipment, such as laser scanners, fundus cameras, and optical coherence tomography (OCT) machines, is expected to propel the market further. Additionally, the increasing demand for optometry equipment in emerging countries, such as India, China, and Brazil, is expected to create substantial growth opportunities for market players over the forecast period. The growth of the optometry equipment market in these countries is being driven by the rising awareness about eye health, increasing disposable incomes, and the presence of a large patient population. Furthermore, governments in these countries are taking initiatives to provide better access to eye care services, which is expected to further drive the growth of the optometry equipment market in the coming years.

The retina and glaucoma examination products segment accounted for the largest share of the optometry equipment market, by type

The global optometry equipment market is segmented into retina and glaucoma examination products, general examination products and cornea and cataract examination products, based on type. The retina and glaucoma examination products segment dominated the optometry equipment market in 2021. The increasing prevalence of glaucoma and retinal disorders is one of the key contributors to market growth.

General examination segment accounted for the largest share in the market, by application

The optometry equipment market is segmented into general examinations, cataract, glaucoma, age-related macular degeneration and other applications, by applications. In 2021, the general examination segment accounted for the largest share of the global optometry equipment market. The large share of this segment can be attributed to the rise in awareness of eye care and the increasing incidence of eye diseases.

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The clinics segment accounted for the largest share in the market, by end user

The optometry equipment market is segmented into clinics, hospitals and other end users, by end user. In 2021, the clinics segment accounted for the largest share of the global optometry equipment market. The large share of this segment can be attributed to increasing prevalence of eye disorders among the geriatric population, large patient pool treated in clinics, and the growing number of private clinical practices in emerging countries.

North America accounted for the largest share of the optometry equipment market

The global optometry equipment market is segmented into five major regions namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest market share of the optometry equipment market in 2021. Factors such as the increasing prevalence of eye diseases, the increasing healthcare spending, and the presence of many leading national clinical laboratories are contributing to the large share of this regional segment.

Key Market Players:

The major players operating in optometry equipment market are Carl Zeiss Meditec AG (Germany), Alcon (Switzerland), EssilorLuxottica (France), 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) and Heidelberg Engineering (Germany).

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