Eye Exam Equipment Market

Global Eye Exam Equipment Market Size (2024 to 2029)

The size of the global eye exam equipment market is expected to grow at a CAGR of 6.2% from 2024 to 2029. The size of the market is estimated to be worth USD 4.02 billion by 2029 from USD 2.97 billion in 2024.

Eye examining equipment is used for diagnosing and treating different types of eye disorders. Tests are done to determine the vision in patients and various devices used for treating eye diseases. 

MARKET DRIVERS

The aged population is much more likely to get diagnosed with eye diseases such as cataracts, improper vision, and other related disorders.

Across the world, the aging population is significantly growing, and as explained before, this growth is expected to drive the global eye exam equipment market.  Furthermore, factors such as the growing prevalence of retinal diseases and glaucoma, technological advancements in eye exam equipment, an increasing variety of eye care clinics, and growing access to modern & sophisticated ophthalmic diagnostic devices are primarily driving the global eye exam equipment market. As per the National Institute of Health, in 2017, nearly 2.7 million people in the United States aged 40 years and above had glaucoma. According to the statistics published by the World Health Organization (WHO), an estimated 2.2 billion population were suffered from vision impairment or blindness in 2019.

The growing usage of contact lenses and surgical ophthalmic devices during refractive error correction surgery is expected to add fuel to the global eye exam equipment market. According to the American Optometric Association (AOA), around 185 million people in North America in 2015 were affected by refractive errors like astigmatism, myopia, and presbyopia. Additionally, technological advancements and a rising number of government campaigns to increase the awareness of regulating visual disorders contribute to the hike in the growth rate of the market during the forecast period. Growing disposable incomes resulting in increased healthcare expenditure by individuals is further adding fuel to the global eye exam equipment market.

MARKET RESTRAINTS

The major restraint for this market is the lack of skilled and trained professionals who can diagnose the eyes' problems. The lack of skills to use advanced technology devices is also hindering the growth of the market. Eye tests and treatments are quite expensive, and countries with low per capita income cannot afford them. Making eye testing and treatment affordable is also a significant challenge for this market.

Impact Of Covid-19 On The Global Eye Exam Equipment Market

COVID-19 has impacted the market negatively and resulted in lockdowns in most countries around the world. It led to less movement of people to contain the virus. The priority for eye checkups took a back seat as more emphasis was given to reducing the virus's exposure which led to a downfall in the market revenue. Optical glasses shops now use eye testing devices to save customers time by first going to the hospital for a check-up and then giving the order for glasses by directly giving them the facility of eye check-ups and eyeglasses same place. The lockdown resulted in these shops being closed; thus, there was no new demand for eye-checking devices. As there is a relaxation in lockdown, the demand will rise for eye-checking equipment is increasing.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global  Eye Exam Equipment Market Analysis By Type

Based on type, the OCT had the largest market share in 2023 and is expected to grow faster during the forecast period. It is the technology for the future because it can enhance patient care. It can detect problems in the eye before any symptoms are present in the patient. The rising cases of eye problems have increased the market share of OCT scanning.The fundus camera is projected to grow at a reasonable rate as it is used to photograph the retina's back.Ophthalmoscope accounted for the third-largest market share and is expected to grow at a promising rate during the forecast period. An ophthalmoscope is a primary instrument used to test the health of an eye during an exam. It allows a health professional to see inside the fundus of the eye and other structures.Autorefractor is expected to grow at a decent CAGR during the forecast period because a quality healthcare facility is becoming available to more people.

Global  Eye Exam Equipment Market Analysis By End User

Based on the end-user, the clinic segment accounted for the most significant share of the eye exam equipment market in 2023. The massive share of the clinics' segment can be attributed to factors like the vast range of patient pools treated in clinics and the increasing range of corporate clinical practices established by ophthalmologists in developing countries.The hospital segment is following the clinics closely in accounting for the leading share of the market. Better technology facility is available in hospitals that attract more patients and thus drive market growth. The quality of medical personnel is also better in hospitals than in clinics. High treatment costs in the outpatient department can retard the development of the segment over the forecast period.

REGIONAL ANALYSIS

Geographically, North America accounted for the most significant share of the eye exam equipment market in 2023, followed by Europe and the Asia Pacific. The developed healthcare system, convenience and accessibility of technologically advanced eye exam equipment, and greater adoption of ophthalmology treatments and surgeries in this region are the foremost factors accountable for the large share of North America in the eye exam equipment market.

Europe had the second-largest market share in 2023. Greater adoption of ophthalmology practices and surgeries has driven the growth rate of the market. Rising government initiatives and support from the government in promoting quality healthcare are also reasons contributing to market growth.

The Asia Pacific market is expected to rise at a CAGR of 7.0% during the forecast period. The rise in investments from the public and private sectors is propelling the market demand in this region.

KEY PLAYERS IN THE EYE EXAM EQUIPMENT MARKET

Some of the promising companies operating in the global eye exam equipment market profiled in this report are Carl Zeiss, Haag-Streit, Topcon, NIDEK, Heidelberg Engineering, Escalon, Novartis, Valent, Canon, and Luneau Technology.

RECENT HAPPENINGS IN THE MARKET

• On November 25, 2020, Topcon Healthcare launched a new refraction system called the "Chronos" in Europe. This Chronos is an automated binocular refraction system and features Sight Pilot guided refraction software. 
• On June 16, 2018, Carl Zeiss revealed its next-generation VISULAS green photocoagulation laser treatment. Retinal photocoagulation lasers are used for treating different kinds of eye disorders. 
• On January 08, 2021, the Haag-Streit UK-based Company launched the new version of iVue80 OCT. This new system is three times quicker than the original iVue model. 
• On September 24, 2018, Heidelberg Engineering announced the anterior examination device. This device has got a CE-marking of anterion. The anterion unites corneal topography and tomography.
• On March 02, 2019, Birmingham Optical welcomed the Nidek GS-1 Gonioscope into its portfolio. The GS-1 is the first of its device offering 360 degrees of color imaging of gonioscopy.

DETAILED SEGMENTATION OF THE GLOBAL EYE EXAM EQUIPMENT MARKET INCLUDED IN THIS REPORT

This research report on the global eye exam equipment market has been segmented and sub-segmented based on type, end-user, and region.

By Type

• OCT Scanners         
• Fundus Cameras   
• Perimeters              
• Ophthalmoscope 
• Ultrasound              
• Autorefractor        
• Slit Lamp  
• Corneal Topography           
• Lensmeter            
• Chart Projectors 
• Wavefront Analyzer       

By End User

• Hospitals
• Clinics

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa