The global Optometry Equipment market is anticipated to grow significantly at a CAGR of 5.6% over the forecast period (2024-2031). The key aspect that drives the growth of the global optometry equipment market is the rise in the prevalence of various eye disorders such as cataracts, glaucoma, refractive errors, Age-Related Macular Degeneration (AMD), diabetic retinopathy, and others. As per the WHO, in 2019, approximately 2.2 billion people globally were suffering from one or the other kind of visual impairment. Visual impairment may lead to various conditions such as accidents, depression, and anxiety disorders. Hence, it is necessary to cure such eye disorders and hence this is likely to bolster the market growth during the forecast period.
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The rising geriatric population is another major driving factor for the growth of the market during the forecast period. The rising geriatric population pool upsurges the need for advanced treatment options for various eye disorders. The elderly population is expanding as life expectancy and overall health have considerably improved during recent years. The elderly population is at an increased risk of developing visual impairment. In the elderly, the most common cause of vision loss includes cataracts, glaucoma, and AMD. Most aged people tend to develop cataracts and hyperopia and hence are considered as a key target audience for the market. This population pool is more susceptible to eye disease, resulting in the increasing demand for ophthalmic treatment. Hence, this is likely to spur the market growth during the forecast period.
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Market Coverage
- Segment Covered- By Product Type and End-Users
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Canon Singapore Pte. Ltd., Carl Zeiss Meditec AG, HAAG-Streit Group, Johnson & Johnson Services Inc., Nidek Co., Ltd., Novartis AG, Sumitomo Chemical Co. Ltd. (Valent USA LLC), and Topcon Medical Systems, Inc. among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Optometry Equipment Market – Segmentation
By Product Type
- Diagnostic Equipment
- Surgical Equipment
o Cataract Surgery Devices
o Glaucoma Surgery Devices
o Vitreo Retinal Surgery Devices
o Other Surgical Equipment
- Laser Equipment
By End-Users
- Hospitals & Clinics
- Ophthalmology Centers
- Research Institutes
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