Optometry Equipment Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global Optometry Equipment Market is segmented By Product Type (Optical coherent tomography scanners, Ophthalmic ultrasound imaging systems, Corneal topography systems, Slit lamps, Tonometer, Ophthalmoscopes, Perimeters/visual field analyzers, Fundus cameras, Autorefractors and Keratometers, Others), By End User (Hospitals, Eye Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Optometry Equipment Market Overview

The Global Optometry Equipment Market reached USD 3.8 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 6.1 billion by 2030. The Global Optometry Equipment Market is expected to exhibit a CAGR of 6.2% during the forecast period 2023-2030. The Optometry Equipment Market trends show rising research and development for diagnosis and treatment due to the rising prevalence of ophthalmic disorders such as glaucoma or cataracts and increasing clinical trials. Ophthalmologists can considerably improve their efficiency and accuracy with this equipment. 

Furthermore, the rising government initiatives and support, together with rising demand for treatment at the point of care, is driving up the optometry equipment market size. The market is experiencing a growth in demand from North American areas due to the development of research in these fields. Significant competitors like Nidek Co., Ltd., Topcon Corporation, ZEISS Group, and others actively operating in the market.

Optometry Equipment Market Scope

Optometry Equipment Market Dynamics

Rising Technological Advancements Drive the Growth of the Optometry Equipment Market

Key companies' availability of cutting-edge items is anticipated to be crucial to the market's expansion. The market is expanding due to numerous brand-new product introductions, academic investigations, and growing public awareness campaigns about this optometry equipment for evaluation and therapy. 

For instance, Ziemer Ophthalmic Systems announced on April 1, 2022, that the FDA had approved the FEMTO Z8 NEO. This revolutionary femtosecond laser replaces the rare LDV Z8 Multipurpose Femtosecond Laser. The FEMTO Z8 NEO features cutting-edge hardware and brand-new, enhanced software programs. The newly created platform offers notable enhancements in terms of performance, comfort for patients, and usability. A unique laser source or monitoring system improved precision and dependability.

Rising Research and Development and Novel Product Launches creates lucrative Opportunities  for Manufacturers

There is a growing optometry equipment market opportunity owing to rising advancements and research and development due to the increasing prevalence of ophthalmic disorders. The rising studies by prominent key players is also an optometry equipment market trend driving the market. 

Equipment and tools utilized in optometry are frequently employed in surgeries and treatments. More government funding and programs are available as more people use these tools or devices. This funding will create optometry equipment such as tonometers, slit lamps, and ophthalmic ultrasound devices. 

An easy-to-use test that enables optometrists to identify people at elevated risk of macular degeneration has been developed due to research on octopus vision conducted at the University of Bristol. 

The research team demonstrated that octopuses possess the most effective polarization vision system of the animal studied using this cutting-edge technology. A revolutionary medical device that determines the risk factor for future sight loss was developed through later research that employed the same technology in humans.

High Risks Involved with Optometry will hamper the growth of the market. 

Fortunately, exposure-prone or surgical operations, which are strongly linked to an elevated risk of spreading blood-borne diseases between patients or healthcare providers, are rarely necessary in optometric practice.

However, there are additional hazards of infection transmission associated with optometry, with eye infections—which may be bacterial, chlamydial, viral, fungal, or acanthamoeba—posing the most significant threat. The danger of potential cross-transmission in healthcare personnel and patients may be significantly decreased, if not entirely eliminated, by adherence to strict and proper cleanliness measures.   

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Optometry Equipment Market Segment Analysis

The Global Optometry Equipment Market is segmented based on product type, application, end-user and region.

Owing to Advantages, the Optical Coherence Tomography Segment Accounted for Approximately 23.4% of the Optometry Equipment Market Share.

The equipment used in optometry that is most frequently utilized is optical coherence tomography (OCT). Optical coherence tomography is a non-surgical imaging technique that makes images of the retina, the back of the eye using reflected light. Diseases like glaucoma or diabetes-related retinopathy can be diagnosed and treated with OCT. 

This technique generates an image by measuring the dim red light that bounces off the retina and optic nerve. The diameter of the retina and optic nerve can be measured using OCT. OCT angiography is a technique used by ophthalmologists to examine the blood vessels inside the eye. The market is expanding due to increasing technological developments, new launches, and research and clinical trial investigations. 

For instance, on May 25, 2022, Ziemer Ophthalmology will introduce revolutionary updates to the GALILEI G6 Toric IOL Calculator or Barrett Formula elevating the planning of refractive cataract surgery to a new level. The GALILEI G6 offers comprehensive, modern software packages for calculators and formulas, enabling it to function as an all-in-one diagnostic tool that combines dual scheimpflug tomography alongside optical biometry or Placido topography.  

Source: DataM Intelligence Analysis (2023)

Global Optometry Equipment Market Geographical Penetration

North America Accounted for Approximately 39.6% of the Market Share in 2022, Owing to the Strong Presence of Major Players and Increasing Healthcare Infrastructure Investment.

Due to the rising need for optometry equipment for treatment purposes in healthcare, manufacturers in North America have a chance of increasing their operations. There are many producers and suppliers in North America and owing to the quick economic growth of the region, industrial production has expanded, driving the demand for optometry equipment. 

Increasing expenditure on healthcare and rising awareness among people, advancement of technologies for treatment, and increase in biopharmaceutical establishment across the region are also contributing to the growth of this region's optometry equipment market share. 

The primary healthcare organizations and businesses' joint research endeavors and new product development that continuously aims to enhance available treatment options are also expected to contribute to the rising demand. Individuals are becoming more aware of various advanced techniques being studied for the treatment leading to market expansion in this region. The factors mentioned above further prove North America's dominance on a global scale.

Source: DataM Intelligence Analysis (2023)

Optometry Equipment Market Companies 

The major global players in the optometry equipment market include Halma Plc, Ziemer Ophthalmic Systems AG, ZEISS Group, Topcon Corporation, Lumibird Medical, Nidek Co., Ltd., Haag-Streit Group, Coburn Technologies, Inc., Kowa American Corporation and Oculus Inc. among others. 

COVID-19 Impact on Optometry Equipment Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global optometry equipment market, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global optometry equipment market growth over the forecast period.

By Product Type

• Refractometer
• Optical Coherence Tomography
• Ophthalmic Ultrasound Devices
• Tonometers
• Slit Lamp
• Corneal Topography Systems
• Ophthalmoscope
• Fundus Camera
• Lensometers
• Others

By Application

• Cataract
• Glaucoma
• Age-related Macular Degeneration
• Diabetic Macular Edema
• Others

By End-User

• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgical Centers
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On June 1, 2023, for ZEISS field emission scanning electron microscopes (FE-SEM) an in-chamber ultramicrotome, the ZEISS Volutome is a recently released product. It is designed to produce 3D photographs of .the the inner structure of biological tissue implanted in resin for application in the life sciences. 

The ZEISS Volutome is a hardware-to-software end-to-end serial block-face imaging solution with segmentation, image processing, and display capabilities. The 3D FE-SEM may be converted into a regular FE-SEM by simply swapping out the ultramicrotome, making the system suitable to a variety of environments.

• On May 23, 2023, Topcon Healthcare, CooperVision, and various U.S. eye care practices are working together in an innovative way to find out how adding axial length (AL) measurements to myopia management might increase confidence among optometrists, employees, and parents. 

A few U.S. offices that effectively provided 1 day CooperVision MiSight soft contact lenses before they had a way to assess axial length recently received Topcon's MYAH optical biometer and corneal topographer.  

• On April 17, 2023, NIDEK CO., LTD. is proud to announce the release of the NT-1/1e Non-Contact Tonometer models. NIDEK CO., LTD. is a world pioneer in developing, manufacturing and marketing optometric, ophthalmic, and lens-edging equipment. The NT-1p/1 performs completely automated measurements for optimal patient safety and has an air-nozzle contact sensor.

A simple model with great operability for manual measurement is the NT-1e. A standard component of the NT-1 series, the 3D autonomous tracking capability offers rapid, easy, and precise measurements.

Why Purchase the Report?

• To visualize the Global Optometry Equipment Market segmentation based on product type, application, end-user and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous optometry equipment market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Optometry Equipment Market Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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