Optometry Equipment Market: Product Innovation and Differentiation to Rope in Significant Growth Opportunities

As the need to conduct various eye check-ups persist, demand for the optometry equipment will remain high in the global market. In addition, growing prevalence of diabetes has led to an increase in the number of eye disorders such as glaucoma, cataract, and macular degeneration. Prevalence of various eye disorders has revved up demand for the optometry devices in the healthcare industry globally. In order to offer better patient care, leading manufacturers are focusing on incorporating innovative technological solutions in the optometry equipment.

Major manufacturers are concentrating on integrating cutting-edge technology in the optometry equipment that enables the ophthalmologists to perform cataract surgeries effectively. Leading manufacturers are also focusing on incorporating light-adjustable lens, femtosecond laser, corneal inlays, and dry eye technology. Through product innovation and differentiation, leading firms are focusing on attaining a competitive edge in the global market.

Over US$ 3,300 Mn Opportunity in Global Optometry Equipment Market

According to Fact.MR, the global optometry equipment market is expected to reach a value of more than US$ 3,300 Mn by 2026-end. Prevalence of various eye disorders has led to a surge in demand for the optometry equipment. In addition, diabetic individuals are often prone to various diseases such as glaucoma, cataract, and macular degeneration. With the increasing number of cases regarding diabetic retinopathy, leading manufacturers are focusing on developing innovative optometry devices for an effective treatment process. As high blood-sugar level in the retina results in leaking and swelling of the eye, individuals are required to get a dilated check-up of their eyes each year. A recent report published by CDC states that 9.4% of the U.S. population, which is 30.3 million people are diabetic.

Increasing use of electronic devices such as tablets, smartphones, and laptops among individuals has further resulted in various eye disorders. In addition, excessive exposure to digital screens results in digital eye syndrome and dry eye syndrome cases. Growing need to conduct treatment procedures for eye disorders such as dry eye syndrome, presbyopia, astigmatism, hyperopia, and myopia is projected to rev up demand for the optometric devices in the healthcare institutions. In order to offer enhanced customer services, leading firms are offering optometric devices equipped with cutting-edge technology that enable the ophthalmologists to perform the treatment process accurately. Moreover, manufacturers are also developing optometry devices that offer non-invasive treatment procedure for better patient care.

Increasing preference for the non-invasive treatment imaging techniques is projected to fuel demand for the optical coherence tomography (OCT) scanners. The OCT scanners are projected to represent the significant growth in terms of revenue in the global market by the end of 2026. On the other hand, corneal topography systems among other products are expected to reflect the fastest growth in the global market throughout 2026. Demand for the optometry devices is projected to remain high in the healthcare institutions such as clinics globally. In terms of revenue, clinics are expected to record a significant growth in the global market by the end of 2017. In contrary, the other end users are projected to witness the fastest growth in the global market throughout 2026.

Major players in the global market are Luneau Technology, Escalon, Heine Optotechnik, Canon, Essilor, Novartis, Valeant, Heidelberg Engineering, Topcon, Nidek, Carl Zeiss, and Haag-Streit.

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