Optometry Equipment Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

The Optometry Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Optometry Equipment Global Market Report 2024, The optometry equipment market size has grown strongly in recent years. It will grow from $3.42 billion in 2023 to $3.67 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to aging population and vision care needs, increasing prevalence of eye disorders, expanding access to eye care services, rising consumer awareness of eye health, global economic development, government initiatives supporting eye health..

The optometry equipment market size is expected to see strong growth in the next few years. It will grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to advancements in teleoptometry and remote eye care, personalized vision correction solutions, rising importance of preventive eye care, global expansion of optometry services, increased collaboration with ophthalmology, growing demand for specialty lenses.. Major trends in the forecast period include integration of artificial intelligence in diagnostics, focus on patient-friendly technologies, expansion of point-of-care testing, customization and personalization of vision correction, environmental sustainability in equipment design..

The increasing prevalence of eye diseases is driving the growth of the optometry equipment market. Eye diseases refer to any diseases or disorders that affect the human eye. Due to the widespread prevalence of eye diseases, optometry equipment is being used to provide an objective determination of refractive error and for looking inside the eye. The optometry equipment is used to search for magnified examination of the anterior segment of the eye, to check the power and axis of a cylindrical lens, and to check the power and axis of a contact lens. For instance, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations responsible for international public health, in 2022, at least 2.2 billion people have a near or distance vision impairment globally and at least 1 billion – or almost half – of these cases, vision impairment could have been prevented or has yet to be addressed. Therefore, the increasing prevalence of eye diseases is expected to propel the growth of the optometry equipment market over the coming years.

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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

Technological advancement is a key trend gaining popularity in the optometry equipment market. Major market players operating optometry equipment market are developing advanced technologies to sustain their position in the market. In December 2022, Vision Rx Lab., an India-based ophthalmic Rx lens manufacturer the novel Nova Ai lenses, an AI technology powered new generation progressive lenses. The wearer receives unfettered natural vision that is customized to their style of looking, with a visual solution provided with complete data and the utmost meticulousness possible with ‘Metamorph technology’ for a truly individualized visual experience. The advanced Binocular Balancing System balances and minimizes the blurriness on both sides of the corridor. Maxi View Technology offers a wide amount of natural vision, and Bespoke Visual Fields which is achieved through Ocular Dynamic. With these technological developments the lens is a breakthrough in progressive lens technology which people can count on.

The optometry equipment market report table of contents includes: