Global Optometry Equipment Market Analysis
Overview
Optometry equipment is used to inspect, detect, cure, and control illnesses and illnesses of the visual cortex, the eye, and deformities linked with eye structures, as well as identify eye-related systemic ailments. The equipment used in optometry includes equipment for ocular and retinal examinations, retina and glaucoma examinations, and general examinations. Retinoscopes, visual field testers, fundus cameras, autorefractors and keratometers, ophthalmoscopes, reflecting microscopy, wavelength aberrometers, and other optometry equipment are among them.
As the prevalence of eye illnesses and vision loss has increased, optometry instrument manufacturers have introduced new technology and procedures. Birmingham Optical introduced the NIDEK Tonoref III in January 2016, a device that integrates the functions of an auto-refractometer, auto-keratometer, non-contact tonometer, and non-contact pachymeter into a single instrument. This easy-to-use gadget is designed to provide excellent measurement accuracy and perform all clinically necessary eye detection tasks. During the forecast period, this will finally push the use of optometry equipment.
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The global optometry equipment market was projected to be worth US$ 3,285.7 million in 2018 and is anticipated to grow at a CAGR of 5.6 percent between 2018 and 2026.
Drivers
The growing frequency of prominent eye diseases including age-related macular degeneration (AMD), cataract, myopia, and diabetic retinopathy is propelling the global optometry equipment market forward. Glaucoma accounts for about 10 million visits to physicians each year, as per statistics published in the Glaucoma Research Foundation (GRF) in October 2017. Glaucoma costs the U.S. economy about US$ 1.5 billion each year in terms of health-care costs.
More than 5.7 million individuals in the U.K. struggle with sight-threatening eye diseases, as per the Royal National Institute of Blind People (RNIB). Furthermore, 2 million people were blind in 2016, and this number is anticipated to grow to over 2.7 million by 2030. Furthermore, as per statistics from the Royal National Institute of Blind People (RNIB), about 350,000 people were listed as blind or partly sighted in 2014, including 291,100 people from England, 34,500 from Scotland, 16,939 from Wales, and around 8000 from Northern Ireland.
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During the forecast period, rising healthcare spending for the treatment of vision loss, blindness, and sight-threatening diseases are projected to drive demand for the global optometry equipment market. According to the RNIB- Eye Health 2016 study, sight loss, blindness, and eye-threatening diseases cost the UK healthcare system US$ 2.03 million, US$ 0.27 million, and US$ 5.7 million in 2016, accordingly.
The global optometry equipment market is projected to develop rapidly as the number of diabetics and people suffering from diabetes increases as a result of diabetes eye disease. Glaucoma, diabetic retinopathy, and cataract are some of the most frequent consequences of diabetes. When compared to non-diabetics, diabetics are twice as likely to get glaucoma. Neovascular glaucoma is an uncommon form of glaucoma that is frequently linked to diabetes.
Around 13 investigations, 7 case control studies, and 7 population-based studies done among Diabetes Mellitus (DM) patients revealed that people with diabetes mellitus had a greater risk of having primary Open-Angle Glaucoma (POAG). Moreover, the global optometry equipment market is projected to rise due to an increase in the number of diabetes people throughout the world. According to figures released by the World Health Organization (WHO) in November 2017, diabetes claimed the lives of an estimated 1.6 million people in 2015. Furthermore, the World Health Organization predicts that diabetes will be the sixth largest cause of death by 2030.
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Regional Analysis
Due to growing awareness about cataracts, loss of vision, and other prevalent eye diseases, well-established healthcare infrastructure, favorable Medicare reimbursement amenities, and a rising incidence of diabetes in North and Latin America, North America is expected to account for the largest market share in the global optometry equipment market.
People with diabetes or a family history of glaucoma are categorized as high risk for glaucoma and are reimbursed for glaucoma testing once every 12 months under the Medicare Part B insurance plan, according to the US Centers for Medicare & Medicaid Services. The global optometry equipment market is likely to be driven by rising government expenditure to construct efficient healthcare infrastructure by different government agencies. Retail spending on non-durable medical items such as medical equipment and surgical dressings grew by 4.4 percent to US$ 62.2 trillion in 2016, according to the Centers for Medicare & Medicaid Services (CMS). In 2016, hospital care spending accounted for about 32% of overall healthcare spending in the U.S., which increased by 4.7 percent to US$ 1.1 trillion from the previous year.
According to the World Health Organization (WHO), 62 million individuals in the North America were diagnosed with diabetes in 2016. The prevalence of being overweight in parts of the North America was reported to be 62.85% male and 59.8% female, placing them at a higher risk of diabetes in the future. Over the forecast period, the global optometry equipment market is projected to develop at a rapid pace.
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Competitive Landscape
Major companies contributing in the global optometry equipment market are Heidelberg Engineering GmbH, Haag-Streit AG, Essilor International S.A., Escalon Services, Inc., Canon Inc., Topcon Corporation, Carl Zeiss AG, Novartis International AG, NIDEK CO., LTD., Luneau Technology Group, and Heine Optotechnik GmbH & Co. KG.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Technological Advancements
- Regulatory Scenario
- Industry Trends
- PEST Analysis
- PORTER’S Five Forces
- Market Dynamics
- Global Optometry Equipment Market, By Product Type, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Retinoscopes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- OCT Scanners
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Corneal Topography Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Visual Field Analyzers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Ophthalmic Ultrasound Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Fundus Cameras
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Autorefractors and Keratometers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Ophthalmoscopes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Optical Biometry Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Specular Microscopes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Wavefront Aberrometers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Other Equipment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Accessories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Introduction
- Global Optometry Equipment Market, By End User, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Eye Specialty Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Ambulatory Care Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Introduction
- Global Optometry Equipment Market, By Region, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Region, 2017 – 2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- China
- Japan
- India
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Northern Africa
- Central Africa
- South Africa
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- GCC Countries
- Israel
- Rest of Middle East
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Analyst Views
- Section
- References
- Research Methodology
- About Us and Sales Contact
About Us:
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