Dental Anesthetics Market

Optometry Equipment Market in Numbers

  • The global market for optometry equipment was valued at US$ 3.8 Bn in 2018.
  • Optometry equipment market revenues are likely to witness a moderate ~4% increase during the period of assessment, i.e. between 2019 and 2029.
  • Over the course of the decade-old projection period, the market for optometry equipment is expected to gain ~US$ 2 Bn incremental opportunity.
  • Ophthalmic diagnostic equipment is envisaged to remain top selling ophthalmic equipment category, with sizeable revenue shares in global market.
  • A majority of global market revenues are accounted by North America and Europe.
  • Hospital OPDs are likely to remain top end users of optometry equipment through 2029.

This section of the optometry equipment market report features the profiles of the key players operating in the optometry equipment market based on their marketing and differential strategies. Touted as a highly consolidated competition landscape, the global optometry equipment market is characterized by the fact that the top two players account for half the global revenues. The leading competitors are currently concentrating on innovative product launches, targeting portfolio expansion, in an attempt to solidify brand position in the eye care space. A majority of market participants are leveraging the aggravating need for efficient and reliable diagnostics, and are thus augmenting investments in the introduction of optometry equipment for diagnosis.

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Prominent manufacturers operating in the optometry equipment market are keen on implementing new and differentiating strategies to meet not only product demand but also dominate the respective regional markets. These companies are focused on partnerships and alliances with regional leaders, in an effort to exhibit stronger sales and after-sales services portfolios in the field of medical devices, such as optometry equipment. Several companies operating in the optometry equipment industry are also prioritizing the establishment of new manufacturing and sales units in developing European and Asian markets so as to cater to growing demand for ophthalmic products, and thereby better their market foothold.

Increasing geriatric population is resulting in an increase in the patient pool in the optometry market due to the increasing incidence of major eye diseases and vision loss, which have become among the major public health concerns. Moreover, the geriatric population is more prone to diabetes, which results in vision impairment, and this can be a major factor driving the optometry devices market.

According to major studies, low vision or blindness has affected about 3.3 million individuals aged 40 years and above in the U.S. This number is anticipated to reach 5.5 million by 2020. The prevalence of major eyes-related diseases, such as macular degeneration, glaucoma, diabetic retinopathy, and cataract, is boosting the chances of vision loss among the geriatric population. A cataract is the most common vision disorder among the geriatric population these days.

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