Optometry Equipment Market by Type (OCT, Ophthalmoscope, Autorefractor, Tonometer, Slitlamps, Wavefront Analyzer), Application(General Examination, Cataract, Glaucoma, Macular Degeneration), End User(Clinics, Hospitals) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Optometry Equipment market size was estimated at USD 4.1 billion in 2022 and is expected to surpass around USD 10.4 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 14.4% during the forecast period 2022 to 2030.

As global eye care makes progress, the global optometry equipment market is likely to provide viable prospects. Growing research investment, increased integration of automation and smart technology are just a few of the key growth drivers projected to have a significant influence on the global Optometry Equipment Market in the near future. As the demand for speedier testing and rapid results becomes more prominent, high-end optometry equipment is expected to remain in high demand for the purpose of treatment of various hospital outpatients. Faster turnaround times are assisting patients in receiving timely therapy to avoid additional visual loss. When it comes to sale of diagnostic ophthalmic equipment, green spaces are obvious, as seen by the presence of several producers.

Report Scope of the Optometry Equipment Market

Optometry equipment Market Dynamics

Driver: Increasing incidence of eye disorders

The prevalence of major eye diseases is increasing worldwide, and vision loss is a major public health concern. The rising geriatric population, technological advancements in ophthalmic devices, rising government initiatives as well as growing healthcare expenditures are the factors contributing for this concern. 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

Opportunity:

Developing economies such as India, China, South Korea, Brazil, Turkey, Russia, and South Africa are expected to offer potential growth opportunities for major players operating in the optometry equipment market. This can be attributed to the high ocular disease prevalence, large patient population, improving healthcare infrastructure, increasing disposable income, and growing medical tourism in these countries. In addition to the factors mentioned above, the Asia Pacific region has emerged as an adaptive and business-friendly hub due to relatively less stringent regulations and data requirements.

Restraint:

High Cost and adoption of refurbished equipments are a major factor restraining the growth of the optometry equipment market. Most ophthalmic device companies face a major challenge due to the high cost of optometry equipment's adoption among ophthalmologists and thereby preference for refurbished equipments is seen. The machine maintenance cost, staffing and training cost, as well as the cost of the physical area required for the machine, is also high. All these factors affect the purchase decision for such high-cost equipment at clinics and small-sized diagnostic centers

Challenge:

Awareness and knowledge about eye diseases are very low among the rural population of developing countries such as India, Saudi Arabia, Israel, Kenya, and South Africa. Moreover, there is limited access to advanced optometry equipment in these countries. Rural healthcare is marked by insufficient infrastructure, lack of awareness, and poor access to eye care professionals. Also, the number of ophthalmologists varies with the level of economic development in low-income countries to high-income countries.

“In 2021, 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 growing numbers of glaucoma and retinal diseases and rising diabetes and hypertension population are the key contributors to market growth of this segment.

“In 2021, 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. The major share of this segment is contributed by the rise in awareness of ocular care, increasing prevalence of eye diseases and growing geriatric population.

In 2021, 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. The increasing prevalence of eye disorders among the geriatric population, huge number of patients treated in clinics, and the growing number of private clinics in developing countries contribute to the large share of this segment in the market.

“In 2021, 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 held the biggest market share of the optometry equipment market in 2021. The substantial share of this regional market is due to a number of factors, including the rising prevalence of chronic eye diseases, rising healthcare costs, and the existence of many numerous top manufacturers.

Some of the prominent players in the Optometry Equipment Market include:  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), 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), FREY (Poland), and Yeasn (China).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Optometry Equipment market

By Type

• Retina and Glaucoma Examination Products
• OCT Scanners
• Fundus Cameras
• Perimeters/Visual Field Analyzers
• Opthalmoscopes
• Retinoscopes
• General Examination Products
• Autorefractors and Keratometers
• Opthalmic Ultrasound Systems
• Tonometers
• Slit Lamps
• Lensmeters
• Chart Projectors
• Cornea and Cataract Examination Products
• Wavefront Aberrometers/Analyzer
• Optical Biometry System
• Corneal Topographical System
• Specular Microscopes

By Application

• General Examination
• Cataract
• Glaucoma
• Age-related Macular Degeneration(AMD)
• Other Applications

By End User

• Clinics
• Hospitals
• Other End Users

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Optometry Equipment Market Study:

• Growth of Optometry Equipment in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Optometry Equipment and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Optometry Equipment Consumption Analysis
•  Optometry Equipment Production Analysis
•  Optometry Equipment and Management