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Global Eye Testing Equipment Market to Reach US$ 4.1 Billion by 2027, Propelled by the Rising Incidences of Eye-Related Disorders

Published on Nov 02, 2022

The latest report by IMARC, titled “Eye Testing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global eye testing market size reached US$ 2.8 Billion in 2021. Eye testing equipment refers to medical tools used to examine and detect defects or abnormalities in the internal structure of the eye or the retina. Optometrists and ophthalmologists use these tools to perform numerous eye tests. Focimeters, biometers, slit lamps, autorefractors, optical coherence tomography (OCT) scanners and fundus cameras are some of the most used eye testing equipment available in the market. In recent years, eye testing equipment has gained traction due to its widespread employment in hospitals, academic institutions and diagnostic clinics to examine and diagnose cataract, glaucoma, and other eye-related disorders.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.

Global Eye Testing Equipment Market Trends:

One of the primary factors driving the market is the rising incidences of eye-related disorders due to rapid digitalization. Additionally, the increasing geriatric population is creating a positive market outlook. Other than this, the integration of eye testing equipment with lensometers, ophthalmoscopes, and computerized visual acuity systems to achieve better accuracy and precision is positively influencing the market growth. Besides this, OCT devices are heavily utilized for examining the distinctive layers of the retina and providing enhanced care to individuals suffering from glaucoma. In line with this, the escalating usage of contact lenses and surgical ophthalmic devices during refractive error correction surgery is strengthening the market growth. Furthermore, the growing prevalence of night blindness, excessive eyestrain, colorblindness, and lazy eye due to longer durations of screen time is propelling the market growth. Other growth-inducing factors include the implementation of various initiatives to educate the masses about vision health and the rising healthcare expenditure capacities. Looking forward, IMARC Group expects the market value to reach US$ 4.1 Billion by 2027, expanding at a CAGR of 6.37% during the forecast period (2022-2027).

Market Summary:

  • Based on the device, the market has been divided into slit lamp, biometer, perimeter, tonometer, optical coherence tomography (OCT), fundus camera, autorefractor and keratometer, and others.
  • On the basis of the application, the market has been segregated into general examination, glaucoma, cataract, and others.
  • Based on the end user, the market has been segmented into hospitals, eye clinics, and optometry academic institutes.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  •  The competitive landscape of the market has also been analyzed, with some of the key players being Alcon Inc. (Novartis AG), bon Optic, Canon Medical Systems USA (Canon Inc.), Carl Zeiss AG (Carl-Zeiss-Stiftug), Essilor International (EssilorLuxottixa), HEINE Optotechnik GmbH & Co. KG, Luneau Technology Group, Metall Zug AG, NIDEK CO.LTD., and Topcon Corporation.
     

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