Global Optometry Equipment Market Forecast to 2030
The Optometry Equipment Market research report is a comprehensive and vital document that includes business strategies, qualitative and quantitative analysis, and emerging trends in the global Optometry Equipment Market. The report provides in-depth research and analysis of the key elements of the global Optometry Equipment Market. This report was created by the research analysts after conducting extensive primary and secondary research and analysing the drivers, restraints, challenges, trends, and opportunities in the Optometry Equipment Market.
According to the most recent analysis by Emergen Research, the size of the global market for optometry equipment reached USD 60.82 billion in 2021 and is projected to grow at a revenue CAGR of 4.6% during the forecast period. The Centers for Disease Control and Prevention (CDC) estimate that 3 million Americans suffer from glaucoma. It is the second-leading cause of blindness worldwide. Increased ocular pressure is a symptom of open-angle glaucoma, the most common type. 30% of adults 65 and older who have cataracts experience vision impairment in either one or both eyes. In the US, diabetic retinopathy is a fairly common condition. It is anticipated that 899,000 adults aged 40 and older will develop diabetic retinopathy, which will impair vision in 4.1 million adults.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Optometry Equipment market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Carl Zeiss Meditec Group, Nidek Co., Ltd, Alcon, Canon Inc., Heidelberg Engineering GmbH, Johnson & Johnson Services, Inc., Bausch Health Companies Inc., Escalon Medical Corp., EssilorLuxottica, and Revenio Group Corporation
Research Report on the Optometry Equipment Market Addresses the Following Key Questions:
- Who are the dominant players of the Optometry Equipment market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Optometry Equipment market?
- What are the key growth drivers and restraining factors of the Optometry Equipment market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Optometry Equipment market and its key segments?
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Some Key Highlights From the Report
- The retina examination segment accounted for a significant revenue share in 2021. An optical coherence tomography (OCT) scan is an important tool for the early detection of many severe eye disorders. The OCT scan employs a laser (without radiation) to produce better-quality pictures of the retina and optic nerve layers. The pictures produced by the OCT scan are also a useful tool in helping patients comprehend the problem they may be facing owing to the difficulty that can be seen clearly and in 3D on the screen. The OCT scan may also be done in a darkened environment, which allows for faster and more precise results—particularly when the location of the anterior angle in a darkened room is critical in the diagnosis of angle-closure glaucoma.
- Hospital segment accounted for a significant revenue share in 2021. High-end optometry equipment is expected to remain in high demand, particularly for treating hospital outpatients, as the requirement for speedier examinations and prompt result delivery takes center stage. Outpatient departments in hospitals are projected to continue to be the principal end users of optometry equipment. The growing global burden of ocular illnesses is driving patients to seek rapid diagnosis and treatment through primary points of contact. According to the United Kingdom's National Health Service (NHS), ophthalmic OPD appointments account for 10% of all visits in the country.
- Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth. In addition, the presence of key players is also driving revenue growth of the market. For instance, on August 2020, Topcon Healthcare, a leading provider of medical equipment and software solutions to the global eye care community, announced the release of its new Aladdin-M instrument in the United States. Aladdin-M integrates corneal topography, pupillometry, and optical biometry to assess corneal curvature, pupil dynamics, and axial length metrics objectively. The flexible, all-in-one Aladdin-M has capabilities for keratoconus screening and contact lens fitting in addition to the instruments needed to assist myopia control.
Market Segmentations of the Optometry Equipment Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Optometry Equipment market on the basis of product, application, and region:
Segments Covered in this report are:
- Type of Examination Outlook (Revenue, USD Billion; 2019-2030)
- Retina Examination
- Cornea Examination
- General Examination
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Eye Specialty Centers
- Hospitals
- Academic Research Institutes
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of APAC
- Brazil
- Rest of LATAM
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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Regional Landscape section of the Optometry Equipment report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Optometry Equipment Market report:
- The latest report comprehensively studies the global Optometry Equipment market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Optometry Equipment Market report is an exhaustive database that will help readers formulate lucrative strategies. The Optometry Equipment Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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