Global Optometry/Eye Exam Equipment Market Set for a Positive Growth Forecast at CAGR of 6.0% till 2022
Rising prevalence of eye diseases, technological advancements in ophthalmic devices, increasing government initiatives to regulate visual disorder, and increasing health care expenditure and rising disposable incomes area unit a number of the main factors driving the expansion of this market. On the idea of kind, the membrane and eye disease examination product section is anticipated to register the best CAGR throughout the forecast amount. the attention communication instrumentation market is anticipated to succeed inUSD 3.05 billion by 2022, at a CAGR of 6.0% from 2017 to 2022.
Eye Exam Equipment Market is projected to grow at a CAGR of 6.0% between 2017 and 2022
The eye exam equipment market is expected to reach USD 3.05 billion by 2022 from USD 2.29 billion in 2017, at aCAGR of 6.0% from 2017 to 2022. Rising prevalence of eye diseases, technological advancements in ophthalmic devices, increasing government initiatives to control visual impairment, and increasing healthcare expenditure and rising disposable incomes are some of the major factors driving the growth of this market. However, the high cost of eye examination equipment, lack of awareness on and low accessibility to eye care in low-income economies, and increasing adoption of refurbished eye exam equipment may hinder the growth of this market to a certain extent.
Retina and glaucoma examination products segment to witness the highest growth rate during the forecast period
On the basis of type, the retina and glaucoma examination products segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing prevalence of retinal diseases and glaucoma, increasing number of eye care clinics, technological advancements in eye exam equipment, and growing access to modern ophthalmic diagnostic devices.
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Clinics to grow at the highest CAGR from 2017 to 2022
Based on end user, the clinics segment is expected to grow at the highest CAGR during the forecast period. The large share of the clinics segment can be attributed to factors such as the large patient pool treated in clinics and the increasing number of private clinical practices established by ophthalmologists in emerging countries.
APAC to witness the highest growth rate during the forecast period
The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rapid growth in the geriatric population, increasing number of patients suffering from diabetes, improving healthcare infrastructure, rising awareness regarding advanced procedures among people in this region, and growing per capita income in the region.
Break of primary participants:
- By Company Type – Tier 1: 46%, Tier 2–33%, and Tier 3–21%
- By Designation – C Level: 43%, Director Level: 35%, and Others: 22%
- By Region – North America: 34%, Europe: 26%, Asia Pacific: 24%, Latin America: 12%, and the Middle East & Africa: 4%
The report analyzes the various eye exam equipment and their adoption patterns in the market. It aims at estimating the market size and future growth potential of the global eye exam equipment market for different segments such as type, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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