Optometry equipment is usually operated by the ophthalmologist or optometrist to diagnose, examine, treat, and manage disorders & diseases of the eye, visual system, and deformations linked with the eye structures and diagnose eye-related systemic disorders. This equipment is utilized to provide efficient and quality eye care to patients. In hospitals and clinics, optometry equipment is widely used for glaucoma, cataract, retina, cornea, examination, and general examination purposes. These optometry instruments include retinoscopes, specular microscopes, visual field analyzers, wavefront aberrometers, ophthalmoscopes, autorefractors, fundus cameras, keratometers, and others.

Market Scope and Structure Analysis

COVID-19 Impact analysis

COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.

There has been an increase in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and civil population for precautionary measures, owing to the rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the optometry equipment market.

Top Impacting Factors

• Increase in cases of eye diseases, rise in geriatric population, surge in incidences of diabetes which results in vision impairment, excessive use of mobile phones & computers leads to cause eye disorders, poor lifestyle habits lead to digital eye strain, rise in demand for minimally invasive procedures & advanced treatments and procedures are the factors that drive the growth of the optometry equipment market.
• In addition, rise in government funding to boost R&D activities, increase in healthcare expenditure; availability of skilled professionals; collaborations & partnerships between key players to facilitate the development & launch of advanced equipment in the market; are some factors, which boost the optometry equipment market growth.
• However, lack of knowledge for proper handling of equipment as well as complications associated with them, lack of awareness about eye diseases, and high cost of equipment are anticipated to hinder the optometry equipment market growth.
• In addition, the results obtained from optometry tests can vary and make the results less effective which leads to a decrease in the number of people opting for optometry, thus restraining the overall growth of the optometry equipment market.

Market Trends

New product launches to flourish the market

In April 2019, the "Cell V100 handheld vision screener" was launched by Grafton Optical, which is mainly designed to use for children and at mass screening events.

 In September 2020, Aladdin-M software was launched by Topcon in the US. It measures axial length metrics, pupil dynamics, and corneal curvature and incorporates features for keratoconus screening.

In December 2020, Novartis Pharma AG came into partnership with RetinAI Medical AG, which entails RetinAI’s artificial intelligence tools to be utilized to support several projects in ophthalmology and digital health.

In January 2021, Lenstar Myopia, a solution for the increasing demand for myopia management was launched by HAAG-STREIT Diagnostics. The solution consists of HAAG-STREIT’s well-established Lenstar 900 optical biometer and the corresponding EyeSuite software called EyeSuite Myopia. The Lenstar 900 also performs keratometry to make accurate predictions about the onset and progression of myopia.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the optometry equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the optometry equipment market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the optometry equipment market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the optometry equipment market.
• The report provides a detailed optometry equipment market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Optometry Equipment Report

• Who are the leading players active in the optometry equipment market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the optometry equipment market?
• What future projections would help in taking further strategic steps?
• What is "Optometry equipment"?