Optometry Equipment Market Forecasted to Reach $5.40 Billion by 2031

Optometry Equipment Market is projected to reach $5.40 billion by 2031, at a CAGR of 4% during the forecast period.

Meticulous Research®—a leading global market research company, has published a new report titled ‘Optometry Equipment Market Size, Share, Forecast, & Trends Analysis by Product (OCT Scan, Perimeter, Fundus Camera, Retinoscope, Keratometer, Ultrasound, Tonometer, Slit Lamp), Application (Cataract, Glaucoma, AMD), End User – Global Forecast to 2031.’

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According to the latest publication from Meticulous Research®, the optometry equipment market is expected to reach $5.40 billion by 2031, growing at a CAGR of 4% from 2024 to 2031. The growth of this market is primarily driven by the rising prevalence of eye diseases and disorders, an aging global population, the increasing number of visual impairments due to prolonged use of digital devices, and rising government initiatives to improve access to eye care services. However, a shortage of eye care professionals may hinder market growth.

Emerging markets, the rise of specialized optometric practices, and the increasing use of telehealth and telemedicine for eye care present significant growth opportunities. Nonetheless, the lack of knowledge regarding the use of advanced optometry instruments among healthcare professionals remains a key challenge.

Additionally, the integration of artificial intelligence (AI) into the diagnosis and treatment of eye conditions is a notable trend driving the optometry equipment market forward.

Key Players

Major companies operating in the optometry equipment market include NIDEK CO. LTD. (Japan), Carl Zeiss Meditec AG (Germany), Novartis AG (Switzerland), Heidelberg Engineering GmbH (Germany), Johnson & Johnson (U.S.), Canon, Inc. (Japan), Bausch Health Companies Inc. (Canada), Escalon Medical Corp (U.S.), Topcon Healthcare Solutions, Inc. (U.S.), and HEINE Optotechnik GmbH & Co. KG (Germany).

Optometry Equipment Market: Future Outlook

The optometry equipment market is segmented by product type, application, end user, and geography. The types covered in this report include retina and glaucoma examination products (such as OCT scanners, perimeters, fundus cameras, and ophthalmic lasers), keratometers, autorefractors, ophthalmic ultrasound systems, slit lamps, and tonometers.

Among these, the retina and glaucoma examination products segment is expected to account for the largest market share in 2024. This dominance can be attributed to the increased adoption of these products for early and accurate diagnosis of prevalent eye conditions, such as macular degeneration, glaucoma, and diabetic retinopathy, which are becoming more common due to the global rise in diabetes-related eye disorders.

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Based on application, the market is segmented into cataracts, age-related macular degeneration, glaucoma, retinopathy, and general eye examinations. The general eye examination segment is projected to witness the fastest growth due to the increasing incidence of eye conditions linked to the extensive use of digital screens and the growing elderly population worldwide. General eye exams are crucial for early detection and treatment, which drives the demand for optometry equipment in this segment.

In terms of end users, the clinics segment is anticipated to hold the largest market share in 2024, driven by the high number of private clinics, patients’ preference for ophthalmic clinics for diagnosis and treatment, and the availability of timely appointments. According to a report from The Future of Optometry in America published in March 2019, it is projected that by 2025, eye care professionals will perform an additional 3.4 million eye exams annually.

Geographic Review

This report provides an analysis of the major geographies, covering North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, and others), Asia-Pacific (China, Japan, India, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East & Africa. In 2024, North America is expected to dominate the optometry equipment market, with the U.S. accounting for the largest share. Factors driving this dominance include a highly advanced healthcare system, comprehensive reimbursement policies, government efforts to expand access to eye care services, and increased awareness of eye health among the population.

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