Optometry Equipment Market to be Worth $5.40 Billion by 2031

Optometry Equipment Market Size, Share, Forecast, & Trends Analysis by Product (OCT Scan, Perimeter, Fundus Camera, Retinoscope, Keratometer, Ultrasound, Tonometer, Slit Lamp) Application (Cataract, Glaucoma, AMD) End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Optometry Equipment Market Size, Share, Forecast, & Trends Analysis by Product (OCT Scan, Perimeter, Fundus Camera, Retinoscope, Keratometer, Ultrasound, Tonometer, Slit Lamp) Application (Cataract, Glaucoma, AMD) End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the optometry equipment market is projected to reach $5.40 billion by 2031, at a CAGR of 4% during the forecast period. The growth of the optometry equipment market is driven by factors such as the rising prevalence of eye diseases and disorders, the growing geriatric population, the increasing number of individuals with visual impairments due to the excessive use of laptops and mobile phones, and rising government initiatives and funding to improve access to eye care services. However, the shortage of eye care professionals may restrain market growth.

Moreover, emerging economies, the rise in specialty optometric practices, and the increasing use of telehealth and telemedicine by eye doctors and patients are expected to create market growth opportunities. However, a lack of knowledge about the use of advanced optometry instruments among healthcare professionals poses a major challenge to market growth.

Additionally, the use of artificial intelligence (AI) for the diagnosis and treatment of various eye conditions is a prominent trend in the optometry equipment market.

Key Players

The key players operating in the optometry equipment market include NIDEK CO. LTD. (Japan), Carl Zeiss Meditec AG (Germany), Novartis AG (Switzerland), Heidelberg Engineering GmbH (Germany), Johnson & Johnson (U.S.), Canon, Inc. (Japan), Bausch Health Companies Inc. (Canada), Escalon Medical Corp (U.S.), Topcon Healthcare Solutions, Inc. (U.S.), and HEINE Optotechnik GmbH & Co. KG (Germany).

Optometry Market: Future Outlook

The optometry equipment market is segmented by Type (Retina & Glaucoma Examination Products [OCT Scanners, Perimeters, Fundus Cameras, Retinoscopes, Ophthalmoscopes, Ophthalmic Lasers & Ophthalmic Microscopes], Keratometers, Autorefractors, and Lensometers, Ophthalmic Ultrasound Systems & Digital Phoropters, Slit Lamps, Tonometers, Retinal Imaging Systems, General Examination Products, Chart Projectors, [Cataract & Cornea Examination Products, Specular Microscopes, Corneal Topography Systems, Wavefront Analyzers & Aberrometers, Optical Biometry Systems], Application (Cataract, Age-related Macular Degeneration, Glaucoma, Retinopathy, General Examination, Other Applications), End User (Hospitals, Clinics, Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market shares at the country and regional levels.

Among the types covered in this report, in 2024, the retina & glaucoma examination products segment is expected to account for the largest share of the market. This segment’s large market share can be attributed to the high adoption of retina & glaucoma examination products, driven by heightened awareness of the importance of early and precise diagnosis of prevalent eye conditions like macular degeneration, glaucoma, and diabetic retinopathy. The global increase in the prevalence of diabetic retinopathy further boosts the demand for retina & glaucoma examination products.

Among the applications covered in this report, the optometry equipment market is segmented into cataract, age-related macular degeneration, glaucoma, retinopathy, general examination, and other applications. The general examination segment is projected to register the highest growth rate during the forecast period. The growth of this segment can be attributed to the rising geriatric population globally and the increasing incidence of eye diseases stemming from the extensive use of digital devices like laptops and mobile phones. General eye examinations play a crucial role in detecting eye issues early when treatment is most effective. The awareness and recognition of the significance of general eye examinations span across all age groups, thereby driving the growth of this segment.

Among the end users covered in this report, in 2024, the clinics segment is expected to account for the largest share of the market. This segment’s large market share can be attributed to the large number of private clinics in developed nations, patients' inclination towards ophthalmic clinics for the diagnosis and treatment of eye conditions, and the timely appointments offered by these clinics. For instance, according to data published in The Future of Optometry in America Report in March 2019, eye care professionals are projected to conduct an additional 3.4 million eye exams annually by the year 2025.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Sweden, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the optometry equipment market. Moreover, in 2024, the U.S. is expected to account for the larger share of the optometry equipment market in North America. The U.S. has one of the most advanced healthcare systems worldwide and benefits from comprehensive reimbursement policies, initiatives aimed at enhancing access to eye care services, and a populace with heightened awareness of the importance of eye care. These factors contribute to the country’s significant market share.

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Key questions answered in the report-

Which are the high-growth market segments in terms of type, application, end user, and region/country?
What was the historical market for optometry across the globe?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the global market of optometry equipment?
Who are the major players in the optometry equipment market?
What is the competitive landscape like, and who are the market leaders in the optometry equipment market?
What are the recent developments in the optometry equipment market?
What are the different strategies adopted by the major players in the optometry equipment market?
What are the geographical trends and high growth regions/countries?

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