Global Optometry/Eye Exam Equipment Market, By Type (Retina and Glaucoma Examination Products, General Examination Products, Cornea and Cataract Examination Products), End-User (Hospitals, Clinics, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2030.
Optometry/Eye Exam Equipment Market Analysis and Size
Eye disorders are witnessing an upsurge all around the globe. The reasons for the same are many such as exposing eyes to artificial lights for long durations, genetic and hereditary factors and much more. This is widened the scope of growth for the optometry/eye exam equipment market. The introduction of optometry/eye exam equipment especially in the developing economies has been proving fruitful for quite some time now.
Data Bridge Market Research analyses that the optometry/eye exam equipment market which was USD 3.05 billion in 2022, is expected to reach USD 5.32 billion by 2030, and is likely to undergo a CAGR of 7.20% during the forecast period of 2023 to 2030. “Hospitals” dominates the end-user segment of the optometry/eye exam equipment market owing to increasing number hospitals especially in the developing economies. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Optometry/Eye Exam Equipment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Retina and Glaucoma Examination Products, General Examination Products, Cornea and Cataract Examination Products), End-User (Hospitals, Clinics, Ambulatory Surgical Centers, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Carl Zeiss AG (Germany), Haag-Streit (Switzerland), Topcon (Japan), NIDEK (Japan), Heidelberg Engineering (Germany), Escalon (U.S.), Novartis (Switzerland), Valent (Canada), Canon, Inc., (Japan), Essilor (France), Heine Optotechnik (Germany), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Zimmer Biomet (U.S.), TOPCON CORPORATION (Japan), NIDEK CO. LTD. (Chian), Luneau Technology Group (France), and Luneau Technology (France) among others
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Market Opportunities
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Market Definition
Optometry/eye exam equipment market refers to the collective market space encompassing various devices, instruments, tools, and technologies utilized by optometrists and ophthalmologists to conduct comprehensive eye examinations and diagnose visual impairments, eye diseases, and other ocular conditions in patients. These examinations are vital for assessing the overall health of the eyes, determining refractive errors (such as myopia, hyperopia, astigmatism, and presbyopia), detecting eye diseases (such as glaucoma, cataracts, diabetic retinopathy, and macular degeneration), and prescribing appropriate corrective measures such as eye glasses, contact lenses, or surgery.
Global Optometry/Eye Exam Equipment Market Dynamics
Drivers
- Aging Population and Eye Disorders
The aging population is prone to eye disorders such as cataracts, macular degeneration, and glaucoma. As the elderly demographic grows, the demand for eye exams and related equipment rises significantly.
- Research and Development Proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the development of diagnostic equipment is also bolstering the market growth rate.
- Growing Expenditure for Healthcare Infrastructure
Increased funding for the development of healthcare infrastructure especially in the developing economies is further carving the way for the growth of the market. Increased number of strategic collaborations and partnerships between the public and private players is propelling growth in the market value.
Opportunities
- Emerging Markets and Untapped Demographics
Penetration of eye care services in emerging markets presents vast opportunities. In addition, targeting demographics such as children and young adults for early screening and eye exams creates a new market segment.
- Telemedicine and Remote Monitoring
The integration of optometry services into telemedicine platforms allows remote eye exams, especially for individuals in remote areas. The growth of telemedicine broadens the market reach for eye exam equipment.
Restraints/Challenges
- High Initial Costs
The high initial costs associated with advanced eye exam equipment can be a barrier, especially for small clinics and practices. Cost-effective solutions and financing options are essential to overcome this challenge.
- Regulatory Compliance and Standards
Adhering to diverse international regulations and standards for medical devices poses challenges. Manufacturers must invest in compliance and quality assurance to meet global market requirements
This optometry/eye exam equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the optometry/eye exam equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In January 2021, HAAG-STREIT Diagnostics launched Lenstar Myopia, a solution for the increasing demand for myopia management. The solution consists of HAAG-STREIT’s well-established Lenstar 900 optical biometer and the corresponding EyeSuite software called EyeSuite Myopia. The Lenstar 900 also performs keratometry to make accurate predictions about the onset and progression of myopia
- In December 2020, RetinAI Medical AG collaborated with Novartis Pharma AG, which entails RetinAI’s artificial intelligence tools to be deployed for supporting various projects in ophthalmology and digital health
Global Optometry/Eye Exam Equipment Market Scope
The optometry/eye exam equipment market is segmented on the basis of type and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Retina and Glaucoma Examination Products
- General Examination Products
- Cornea and Cataract Examination Products
End-User
- Hospitals, Clinics
- Ambulatory Surgical Centers
- Others
Global Optometry/Eye Exam Equipment Market Regional Analysis/Insights
The optometry/eye exam equipment market is analysed and market size insights and trends are provided by type and end-user as referenced above.
The countries covered in the optometry/eye exam equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the optometry/eye exam equipment market because of the strong base of healthcare facilities, strong presence of a well-developed healthcare setting for ophthalmic treatments and the strong presence of favourable reimbursement network and government funding within the region and rising number of research activities in this region.
Asia-Pacific is expected to show a rapid and lucrative growth rate in the forecast period of 2023 to 2030 owing to the growing foreign direct investments, increase in disposable incomes and rising awareness about advanced and minimally invasive surgical techniques in patients.
The country section of the market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and up-stream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. The market is analysed and market size insights and trends are provided by country, product, indication and end user as referenced above.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The optometry/eye exam equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for optometry/eye exam equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on optometry/eye exam equipment market. The data is available for historic period 2015 to 2020.
Competitive Landscape and Optometry/Eye Exam Equipment Market Share Analysis
The optometry/eye exam equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to optometry/eye exam equipment market.
Some of the major players operating in the optometry/eye exam equipment market are:
- Carl Zeiss AG (Germany)
- Haag-Streit (Switzerland)
- Topcon (Japan)
- NIDEK (Japan)
- Heidelberg Engineering (Germany)
- Escalon (U.S.)
- Novartis (Switzerland)
- Valent (Canada)
- Canon, Inc., (Japan)
- Essilor (France)
- Heine Optotechnik (Germany)
- Novartis AG (Switzerland)
- Johnson & Johnson Services, Inc. (U.S.)
- Zimmer Biomet (U.S.)
- TOPCON CORPORATION (Japan)
- NIDEK CO. LTD. (Chian)
- Luneau Technology Group (France)
- Luneau Technology (France)
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