USD 3.8 billion
Optometry Equipment Market Size, Share, Growth Analysis, By Type(Diagnostic Equipment, Vision Care Equipment and Surgical Equipment.), By Application(Refractive Error Correction, Cataract Diagnosis and Surgery), By End - use(Hospitals, Optometry Clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2313 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
Optometry Equipment Market Insights
Optometry Equipment Market size was valued at USD 3.8 billion in 2021 and is poised to grow from USD 4.04 billion in 2022 to USD 6.55 billion by 2030, growing at a CAGR of 6.23% in the forecast period (2023-2030).
The global optometry equipment market is experiencing steady growth, driven by various factors such as the rising prevalence of eye disorders, increasing awareness about eye care, technological advancements in optometry equipment, and a growing ageing population. With the rising adoption of digital devices, prolonged screen time, and lifestyle changes, the incidence of conditions like myopia, hyperopia, astigmatism, and age-related macular degeneration is on the rise. This has led to a greater demand for optometry equipment that can accurately diagnose and manage these conditions. Moreover, there is a growing awareness among individuals about the importance of regular eye check-ups and early detection of eye disorders. This awareness is driving the demand for optometry equipment, as more people are seeking professional eye care services. Additionally, governments and healthcare organisations across the globe are actively promoting eye health and conducting awareness campaigns, further fueling the market growth.
US Optometry Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Diagnostic Equipment
Growth Rate
6.23% CAGR
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Country Share for North America Region (%)
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Optometry Equipment Market Segmental Analysis
The global optometry equipment market is segmented in terms of type, application, and region. Based on type, the market can be segmented into Diagnostic Equipment, Vision Care Equipment and Surgical Equipment. Based on application, the market is segmented into Refractive Error Correction, Cataract Diagnosis and Surgery, Glaucoma Diagnosis and Management and Retinal Disorders. By End - use it can be segmented into Hospitals, Optometry Clinics, Ambulatory Surgical Centers (ASCs) and Optical Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Optometry Equipment Market Analysis by Type
In the global optometry equipment market, the most dominant type is Diagnostic Equipment, while the fastest growing type is Surgical Equipment. Diagnostic Equipment holds a significant share in the optometry equipment market. This equipment includes devices used for eye examinations, vision testing, and diagnosing various eye conditions and diseases. Diagnostic equipment plays a crucial role in optometry practices, clinics, and hospitals, enabling eye care professionals to assess and monitor patients' visual health. With the increasing prevalence of eye disorders and the growing awareness about the importance of regular eye check-ups, the demand for diagnostic equipment remains consistently high, making it the dominant segment in the global optometry equipment market.
On the other hand, Surgical Equipment is the fastest growing segment in the optometry equipment market. This category comprises devices and instruments used for ophthalmic surgeries, including refractive surgeries, cataract surgeries, corneal transplants, and glaucoma procedures, among others. The rising incidence of eye diseases and the advancements in surgical techniques have led to a significant surge in demand for surgical equipment in the optometry field. Additionally, technological innovations, such as the introduction of minimally invasive surgical procedures and robotic-assisted surgeries, have further fueled the growth of this segment. As a result, the surgical equipment segment is experiencing rapid expansion and is expected to continue growing at an accelerated pace in the global optometry equipment market.
Optometry Equipment Market Analysis by Application
Cataract Diagnosis and Surgery is the dominant application in the global optometry equipment market. Cataracts are a common age-related eye condition that affects the clarity of the lens, leading to blurry vision and visual impairment. As the global population ages, the prevalence of cataracts is increasing, driving the demand for cataract diagnosis and surgical procedures. Optometry equipment plays a crucial role in the accurate diagnosis of cataracts and the precise execution of cataract surgeries. Therefore, the demand for optometry equipment in cataract diagnosis and surgery remains high, making it the dominant application in the global market.
On the other hand, Glaucoma Diagnosis and Management is the fastest-growing application in the global optometry equipment market. Glaucoma is a chronic eye condition characterised by increased intraocular pressure, which can lead to irreversible damage to the optic nerve and vision loss if not detected and managed in a timely manner. Early diagnosis and effective management of glaucoma are crucial to prevent vision impairment and blindness. Optometry equipment, such as tonometers and imaging devices, are essential for accurate diagnosis and monitoring of glaucoma. With the rising awareness about the importance of regular eye examinations and the increasing prevalence of glaucoma worldwide, the demand for optometry equipment in glaucoma diagnosis and management is projected to grow rapidly.
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Optometry Equipment Market Regional Insights
The most dominant region in the global optometry equipment market is North America. The region has a well-established healthcare infrastructure, a high adoption rate of advanced medical technologies, and a strong presence of key players in the optometry equipment industry. Countries like the US and Canada have a significant demand for optometry equipment due to a large population base, increasing prevalence of eye disorders, and a focus on advanced eye care services. North America is also known for its strong research and development activities, contributing to the dominance of the region in the optometry equipment market.
The fastest-growing region in the global optometry equipment market is the Asia-Pacific. The region is experiencing rapid economic growth, a rise in disposable income, and an increasing awareness of eye health. Countries like China, India, Japan, and South Korea have witnessed significant advancements in healthcare infrastructure and accessibility. The growing middle-class population, along with a higher prevalence of eye disorders, has led to increased demand for optometry equipment in the region. Additionally, the expansion of multinational companies and the establishment of local manufacturers contribute to the fast-paced growth of the optometry equipment market in Asia-Pacific.
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Optometry Equipment Market Dynamics
Optometry Equipment Market Drivers
Increasing Demand for Vision Correction
- The optometry equipment market is experiencing a surge in demand due to the increasing need for vision correction procedures, including LASIK and refractive lens exchange. These procedures rely on sophisticated diagnostic and surgical equipment like excimer lasers, corneal topographers, and intraocular lenses (IOLs). As a result, there is a rising demand for optometry equipment to cater to these procedures, driving market growth.
Optometry Equipment Market Restraints
Lack of Skilled Professionals
- The effective utilisation of optometry equipment can be hindered by a scarcity of skilled optometrists and ophthalmic technicians. Specialised training and expertise are necessary to operate and interpret results from advanced equipment. The limited availability of skilled professionals in certain regions creates a challenge for adopting and utilising optometry equipment to its full potential, consequently impacting the growth of the market.
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Optometry Equipment Market Competitive Landscape
The global optometry equipment market is highly competitive and characterised by the presence of several key players. These companies are actively involved in the development, manufacturing, and distribution of a wide range of optometry equipment used by optometrists and ophthalmologists worldwide. The market offers a diverse range of products and solutions that cater to the diagnostic, treatment, and vision correction needs of patients.
Optometry Equipment Market Top Player’s Company Profiles
- Carl Zeiss Meditec AG (Germany)
- Essilor International S.A. (France)
- Topcon Corporation (Japan)
- Nidek Co., Ltd. (Japan)
- Haag-Streit Group (Switzerland)
- Novartis AG (Switzerland)
- CooperVision, Inc. (US)
- Johnson & Johnson Vision Care, Inc. (US)
- Bausch + Lomb (US)
- Alcon, Inc. (Switzerland)
- Hoya Corporation (Japan)
- Ziemer Group AG (Switzerland)
- Santinelli International, Inc. (US)
- Luneau Technology Group (France)
- Heidelberg Engineering GmbH (Germany)
- Reichert, Inc. (US)
- OCULUS Optikgeräte GmbH (Germany)
- Optovue, Inc. (US)
- ZEISS Vision Care (Germany)
- Marco Ophthalmic, Inc. (US)
Optometry Equipment Market Recent Developments
- In March 2023, Carl Zeiss Meditec AG announced the launch of its new VisuMax 800 femtosecond laser system.
- In February 2023, NIDEK Co., Ltd. announced the launch of its new OPD-820 autorefractor.
- In January 2023, Topcon Corporation announced the launch of its new 3D OCT-1200 optical coherence tomography system.
- In December 2022, Essilor Instruments announced the launch of its new i-Profiler X autorefractor/keratometer.
- In November 2022, HEINE Optotechnik announced the launch of its new OCULUS Pentacam HR Plus anterior segment imaging system.
Optometry Equipment Key Market Trends
- Increasing Use of Digital Technologies: Digital technologies are being increasingly adopted in optometry. This is leading to the development of new and innovative optometry equipment such as digital imaging systems and telemedicine systems.
- Development of New and Innovative Therapies: New and innovative therapies are being developed for the treatment of eye diseases. These therapies are more effective and have fewer side effects than traditional therapies.
- Rising Demand for Personalized Treatment: Personalised treatment is tailored to the individual patient's eye condition. This approach has the potential to improve the efficacy and safety of treatment for eye disease patients.
Optometry Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global optometry equipment analysis, one of the primary factors driving the growth of the global optometry equipment market is the increasing prevalence of eye disorders and vision impairment worldwide. The rising ageing population, along with the growing incidence of chronic diseases such as diabetes, contributes to the demand for optometry equipment. Moreover, the growing awareness about eye health and the importance of regular eye examinations further propels market growth. Rapid urbanisation, improving healthcare infrastructure, and increasing disposable income in these regions are creating lucrative opportunities for market players.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.8 billion |
| Market size value in 2031 | USD 6.55 billion |
| Growth Rate | 6.23% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Optometry Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Optometry Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Optometry Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Optometry Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Optometry Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Optometry Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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