Optometry Equipment Market is projected to reach USD 5.4 billion by 2027, from USD 4.0 billion in 2022, growing at a CAGR of 6.4% during the forecast period, according to a new report by MarketsandMarkets™. Market growth is driven by the rising technological advancements in optometry equipment and the growing awareness of early disease diagnosis in developing countries. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the optometry equipment market.
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The retina and glaucoma examination products segment accounted for the largest share of the optometry equipment market, by type
The global optometry equipment market is segmented into retina and glaucoma examination products, general examination products and cornea and cataract examination products, based on type. The retina and glaucoma examination products segment dominated the optometry equipment market in 2021. The increasing prevalence of glaucoma and retinal disorders is one of the key contributors to market growth.
General examination segment accounted for the largest share in the market, by application
The optometry equipment market is segmented into general examinations, cataract, glaucoma, age-related macular degeneration and other applications, by applications. In 2021, the general examination segment accounted for the largest share of the global optometry equipment market. The large share of this segment can be attributed to the rise in awareness of eye care and the increasing incidence of eye diseases.
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The clinics segment accounted for the largest share in the market, by end user
The optometry equipment market is segmented into clinics, hospitals and other end users, by end user. In 2021, the clinics segment accounted for the largest share of the global optometry equipment market. The large share of this segment can be attributed to increasing prevalence of eye disorders among the geriatric population, large patient pool treated in clinics, and the growing number of private clinical practices in emerging countries.
North America accounted for the largest share of the optometry equipment market
The global optometry equipment market is segmented into five major regions namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest market share of the optometry equipment market in 2021. Factors such as the increasing prevalence of eye diseases, the increasing healthcare spending, and the presence of many leading national clinical laboratories are contributing to the large share of this regional segment.
Key Market Players:
The major players operating in optometry equipment market are Carl Zeiss Meditec AG (Germany), Alcon (Switzerland), EssilorLuxottica (France), Topcon Corporation (Japan), Bausch Health Companies Inc. (Canada), NIDEK Co. Ltd. (Japan), Canon Inc. (Japan), Johnson and Johnson (US), HEINE Optotechnik (Germany), Revenio Group PLC (Finland), Haag-Streit Group (Switzerland) and Heidelberg Engineering (Germany).
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