What is the global market size of Optometry Equipment Market?

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).

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, Glaucoma Diagnosis and Management and Retinal Disorders.), By End - use(Hospitals, Optometry Clinics, Ambulatory Surgical Centers (ASCs) and Optical Centers.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2313 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 89 | Figures: 76

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.

Optometry Equipment Market Report Snapshots

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Optometry Equipment Market size was valued at USD 4.04 billion in 2022 and is poised to grow from USD 4.29 billion in 2023 to USD 6.96 billion by 2031, growing at a CAGR of 6.23% in the forecast period (2024-2031).

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. '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)'

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.

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.

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.

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Optometry Equipment Market Dynamics

Optometry Equipment Market Report Snapshots

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