What Has Been The Evolution of the Optometry Equipment Market in Recent Years?
The optometry equipment market has seen considerable growth due to a variety of factors.
• In recent times, the optometry equipment market has seen robust growth. This market is projected to increase from $3.58 billion in 2024 to $3.82 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period is due to factors such as the aging populace and their vision care requirements, increase in instances of eye disorders, wider access to eye care services, heightened consumer understanding of eye health, worldwide economic progress, and government schemes encouraging eye health.
What Are the Future Growth Projections for the Optometry Equipment Market?
The Optometry Equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for optometry equipment is predicted to witness significant expansion in the coming years, escalating to $5.19 billion by 2029 with a compound annual growth rate (CAGR) of 8.0%.
This anticipated growth during the forecast period is due to the development in tele optometry and remote eye care, customized vision correction methods, the increasing significance of preventive eye care, worldwide extension of optometry services, augmented partnerships with ophthalmology, and the escalating demand for specialty lenses. The major trends expected to shape the forecast period consist of the incorporation of artificial intelligence in diagnostics, emphasis on technologies that favor the patient, expansion in point-of-care testing, tailored and personalized vision correction, along with an emphasis on environmental sustainability in equipment design.
What Are The Core Factors Supporting Growth In The Optometry Equipment Market?
The rise in eye diseases is propelling the expansion of the optometry equipment market. Eye diseases encompass diseases or disorders that impact the human eye. The extensive occurrence of such diseases necessitates the utilization of optometry equipment to objectively identify refractive errors and to examine the inside of the eye. This equipment is utilized for magnified inspection of the eye's anterior segment, verification of the power and axis of a cylindrical lens, and testing the power and axis of a contact lens. For example, data from the World Health Organization, a Switzerland-based specialized agency of the United Nations that focuses on international public health, stated that in 2022, approximately 2.2 billion people globally suffered from near or distance vision impairment. Out of this, around 1 billion cases could have been prevented or are yet to be addressed. Consequently, the escalating incidence of eye diseases is anticipated to boost the growth of the optometry equipment market in the coming years.
What Are The Major Segments Within The Global Optometry Equipment Market?
The optometry equipment market covered in this report is segmented –
1) By Product: Cataract Surgery Devices, Glaucoma Surgery Devices, Ophthalmic Diagnostic Equipment, Vitreo Retinal Surgery Devices, Ophthalmic Lasers
2) By Type Of Examination: Retina Examination, Cornea Examination, General Examination
3) By End-User: Hospital Outpatients, Physician Practice, Specialty Clinics, Ambulatory Care Centers, Research Institutes
Subsegments:
1) By Cataract Surgery Devices: Phacoemulsification Machines, Intraocular Lenses (IOLs), Capsulotomy Devices
2) By Glaucoma Surgery Devices: Trabeculectomy Devices, Glaucoma Drainage Devices, Laser Surgery Devices
3) By Ophthalmic Diagnostic Equipment: Autorefractors, Fundus Cameras, Optical Coherence Tomography (OCT) Devices, Visual Field Analyzers
4) By Vitreo Retinal Surgery Devices: Vitrectomy Systems, Endolaser Systems, Scleral Buckling Systems
5) By Ophthalmic Lasers: Excimer Lasers, Nd Lasers, Femtosecond Lasers.
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Which Trends Are Expected To Transform The Optometry Equipment Market?
Technological innovation is becoming an increasingly pressing trend in the optometry equipment market. To maintain their standing, major manufacturers in the industry are embracing cutting-edge technologies. For instance, in December 2022, Vision Rx Lab, an India-based eye prescription lens manufacturer, unveiled the Nova Ai lenses. These next-generation progressive lenses, powered by artificial intelligence, offer a completely tailored visual experience for the wearer. Using the sophisticated 'Metamorph technology', a fully comprehensive visual solution is provided that aligns perfectly with the user's viewing style. Additionally, the pioneering Binocular Balancing System significantly reduces blur on both sides of the viewing corridor. Maxi View Technology provides an extensive range of natural vision, while bespoke Visual Fields are made possible through Ocular Dynamic. These advancements represent a major leap in progressive lens technology.
Who Are the Key Players In The Optometry Equipment Market?
Major companies operating in the optometry equipment market include:
• Carl Zeiss Meditec AG
• Abbott Laboratories
• Alcon Inc.
• AMETEK Inc.
• Associated Regional and University Pathologists Inc.
• Bausch Health Companies Inc.
• Essilor International SA
• HEINE Optotechnik GmbH & Co. KG
• Johnson & Johnson
• Nidec Corporation
• Oculus Inc.
• Revenio Group PLC
• Topcon Medical Systems Inc.
• Ziemer Ophthalmic Systems AG
• Kowa American Corporation
• Neitz Instruments Co. Ltd.
• Huvitz Co. Ltd.
• Shin Nippon Machinery Co. Ltd.
• Takagi Ophthalmic Instruments Europe Ltd.
• Medmont International Pty Ltd.
• Tomey Corporation
• US Ophthalmic
• Keeler Ltd.
• Canon Inc.
• Hoya Corporation
• Heidelberg Engineering GmbH
• Halma PLC
• Welch Allyn Inc.
• Burton Medical Products Corp.
• Marco Ophthalmic Inc.
• Avantgarde Medical Inc.
• Shanghai Optics Inc.
• Sutter Instrument Company
• Radiant Vision Systems LLC
What Is The Most Dominant Region In The Optometry Equipment Market?
North America was the largest region in the optometry equipment market share in 2024. The regions covered in the optometry equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
