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Optometry Equipment Market Analysis | CMI

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Title: Optometry Equipment Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
OPTOMETRY EQUIPMENT MARKET ANALYSIS
  • Optometry Equipment Market, by Product Type
    (Retinoscopes, OCT Scanners, Corneal Topography
    Systems, Visual Field Analyzers, Ophthalmic
    Ultrasound Systems, Fundus Cameras,
    Autorefractors and Keratometers, Ophthalmoscopes,
    Optical Biometry Systems, Specular Microscopes,
    Wavefront Aberrometers, Other Equipment Types,
    Accessories), by End User (Eye Specialty Clinics,
    Ophthalmic Hospitals, Academic and Research
    Institutions), and by Region (North America,
    Latin America, Europe, Asia Pacific, the Middle
    East, and Africa) - Size, Share, Trends, and
    Forecast to 2026
  • The global optometry equipment market size is
    estimated to be valued at US 3,285.7 million in
    2018, and is expected to witness a CAGR of 5.6
    over the forecast period (2018 2026).

3
Market Drivers
  • Increasing incidences of eye disease and vision
    loss have led to introduction of new technologies
    and methods by optometry instrument manufactures.
    In January 2016, Birmingham Optical launched the
    NIDEK Tonoref III, a device which combines the
    functionality of an auto-refractometer,
    auto-keratometer, non-contact tonometer, and
    non-contact pachymeter into one device. These
    user-friendly device is designed to offer a high
    measurement accuracy and is able to conduct all
    clinically essential eye detection functions.
    This will eventually propel the adoption of
    optometry equipment over the forecast period.

4
Figure 1. Global Optometry Equipment Market Value
(US Mn), by Region, 2018
5
  • Rising prevalence of eye disease is expected to
    augment the market growth
  • Rising prevalence of most common eye disease such
    as age-related macular degeneration (AMD),
    cataract, glaucoma, and diabetic retinopathy are
    major driving factor for growth of the optometry
    equipment market. For instance, according to the
    data published in the Glaucoma Research
    Foundation (GRF) in October 2017, glaucoma
    accounts for around 10 million visits to
    physicians annually. Furthermore, in terms of
    health care expenditure, glaucoma cost around US
    1.5 billion to the U.S. government, annually.
  • According to the Royal National Institute of
    Blind People (RNIB), more than 5.7 million people
    are suffering from sight-threatening eye
    conditions in the U.K. Moreover, 2 million
    individuals were suffering from sight loss in
    2016, which is expected to rise by registering
    more than 2.7 million individuals by 2030.
    Moreover, according to the Royal National
    Institute of Blind People (RNIB) data findings,
    in 2014, around 350,000 people were registered as
    blind or partially sighted, which includes
    291,100 individuals from England, 34,500 in
    Scotland, 16,939 in Wales and around 8000 in
    Northern Ireland.
  • Increasing healthcare expenditures for treatment
    of sight loss, blindness, and sight-threating
    conditions are expected to propel demand for
    Optometry Equipment over the forecast period.
    According to the RNIB- Eye Health 2016 report, in
    the U.K., during 2016, sight loss, blindness and
    sight-threating conditions accounted for US 2.03
    million, US 0.27 million, and US 5.7 million
    healthcare expenditures, respectively.

6
  • Moreover, growing number of diabetic population
    and patients suffering with diabetes owing to get
    affected with diabetes eye disease, will expected
    to exhibit strong growth in optometry equipment
    market. Eye disease is the common complications
    in diabetes, which include glaucoma, diabetic
    retinopathy, and cataract. People with diabetes
    are twice as likely to develop glaucoma as
    compared to non-diabetics people. Neovascular
    glaucoma, is the rare type of glaucoma, which is
    commonly associated with the diabetes.
  • According to the data published in PLOS One
    Journal in August 2014, 13 study, 7 case control
    studies, and 7 population based studies conducted
    among the Diabetes Mellitus (DM) patients
    reported that, the people with diabetes mellitus
    have an increased risk of developing primary
    Open-Angle Glaucoma (POAG). Furthermore, an
    increasing number of diabetic population around
    the globe is expected to drive growth of the
    optometry equipment market. According to the
    World Health Organization (WHO) November 2017,
    data findings, in 2015, an estimated 1.6 million
    deaths were caused due to diabetes. Moreover, WHO
    estimated that diabetes will be the seventh
    leading cause of death in 2030.

7
Figure 2. Global Optometry Equipment Market, by
End User, 2018 2026
8
Segment Information
  • North America expected to lead the market, owing
    to increasing healthcare spending and rising
    incidence of diabetes population
  • North America is expected to account for largest
    market share in Optometry Equipment Market, owing
    to increased awareness regarding the cataract,
    vision loss, other common eye disease, well
    established healthcare infrastructure, favorable
    Medicare reimbursement facilities, and increasing
    incidence of diabetes in the North and Latin
    America.
  • For instance, according to the U.S. Centers for
    Medicare Medicaid Services, people having
    diabetes or a family history of glaucoma are
    classified under group of high risk for glaucoma
    and covered for glaucoma tests once every 12
    months under Medicare Part B insurance plan.
    Moreover, increased government spending to build
    efficient healthcare infrastructure by various
    government organizations is expected to drive the
    optometry equipment market. For instance,
    according to Centers for Medicare Medicaid
    Services (CMS) 2016-Research Statistics Data and
    Systems, retail spending for non-durable medical
    products such as medical instruments and surgical
    dressings increased by 4.4 to US 62.2 trillion
    in the U.S. in 2016. Moreover, hospital care
    spending accounted for around 32 of the total
    healthcare spending in the U.S., which exhibited
    an increase of 4.7 to reach US 1.1 trillion in
    2016, over the prior year (2015).
  • According to the World Health Organization (WHO),
    global reports on Diabetes 2016, an estimated 62
    million people in the Americas were affected with
    diabetes. Furthermore, 62.85 male and 59.8 of
    female were reported to shows the prevalence of
    being overweight in regions of the Americas,
    putting them under increased risk of diabetes in
    future. This expected to register high revenue
    growth in optometry equipment market during
    forecast period.

9
Key Players
  • Some of the key players operating in the market
    include Canon Inc., Carl Zeiss AG, Escalon
    Services, Inc., Essilor International S.A.,
    Haag-Streit AG, Heidelberg Engineering GmbH,
    Heine Optotechnik GmbH Co. KG, Luneau
    Technology Group, NIDEK CO., LTD., Novartis
    International AG, and Topcon Corporation.

10
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/optometry-equipment-market-2068

11
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

12
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

13
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