Ophthalmic refractometer is an equipment which is used for measuring lens strength and power, in order to provide patients with proper eyeglasses for correcting their vision. Common types of vision impairments in patients are myopia, hyperopia and astigmatism among others. Most of the eye problems arise from stress, unhealthy lifestyle, improper nutrition, underlying diseases, genetic disorders etc.
Manufacturers are engaged in developing various types of innovative and modified ophthalmic refractometer equipment such as auto refractors which are highly portable compared to the traditional ophthalmic refractometer. Such innovations help in providing quality diagnosis to patients and is expected to drive the growth of the global ophthalmic refractometer market during the forecast period.
Global Ophthalmic Refractometer Market – Impact of the Coronavirus (COVID-19) Pandemic
COVID-19 pandemic is expected to hamper growth of the global ophthalmic refractometer market during the forecast period. On 11th March 2020, the World Health Organization declared COVID-19 as a pandemic. This led regulatory authorities across the globe to implement major changes in clinical practices in order to curb the spread of COVID-19. According to the data published in Center for Disease Control and Prevention, in 2020, the coronavirus can also enter the body of a person through the mucous membranes of the eyes. Therefore, according to the regulatory authorities, clinicians should interact with the patients through telemedicine for the treatment of eye disorders. Only under emergency cases, such as glaucoma, partial blindness etc. patients are treated in the hospitals and clinics and the procedure is carried out under stringent conditions.
The global ophthalmic refractometer market is estimated to be valued at US$ 192.8 million in 2020 and is expected to witness a robust CAGR of 2.3% over the forecast period (2020 - 2027).
Figure 1: Global Ophthalmic Refractometer Market Share (%) Analysis, By Product Type, 2020
Launch of products by key players is expected to drive the growth of the global ophthalmic refractometer market during the forecast period.
Market players are engaged in launching innovative products which is expected to drive the growth of the global ophthalmic refractometer market. For instance, in 2019, NIDEK CO., LTD., launched the Auto Ref/Keratometer/Auto Refractometer whose functions are fully automatic. The device works by just placing the chin on the chin rest. The voice guidance feature allows smooth and easy measurement for the operator.
The rising prevalence of diabetes is also expected to increase the number of visual impairment cases. This in turn, is expected to drive the growth of the ophthalmic refractometer market during the forecast period.
The rising incidence of diabetes among the population is expected to favor growth of the global ophthalmic refractometer market during the forecast period. For instance, according to the data published in the International Diabetes Federation, 2020, Diabetes causes eye problems such diabetic retinopathy, cataract, diabetic macular edema, glaucoma, and double vision in patients. Moreover, according to the same source, diabetic retinopathy is a common and leading cause of blindness in the diabetic population who are in the age group of 20 – 65 years. Furthermore, one in three people with diabetes develop diabetic retinopathy at some point in their life time. The occurrence of diabetic retinopathy can be prevented by following a healthy life style and taking the prescribed medication as required.
| Report Coverage | Details | ||
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| Base Year: | 2019 | Market Size in 2020: | US$ 192.8 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 2.3 % | 2027 Value Projection: | US$ 226.0 Mn |
| Geographies covered: |
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| Companies covered: |
Topcon Corporation, NIDEK CO., LTD., Birmingham Optical Group Ltd., EyeQue Corporation, Eye Care Leaders, LLC, Essilor International S.A., VIEWLIGHT LLC, Canon Inc., Takagi Ophthalmic Instruments Europe Ltd., Luneau Technology Operations SAS and Carl Zeiss AG. |
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Global Ophthalmic Refractometer Market - Restraints
High cost of equipment is expected to restrain the global ophthalmic refractometer market growth during the forecast period. For instance, cost of a single ophthalmic refractometer is in the range of US$ 3,751.11 million to US$ 5,115.15 million, hence hospitals and some ophthalmic clinics have less access to such costly ophthalmic refractometer.
Moreover, while using auto refractors, manual examination of the patient’s eyes is not required. The disadvantages of using an auto refractor include the possibility of calibration errors which can interfere with results and may not diagnose the condition of the patients properly. Moreover, co-operation of the patients is also required during the diagnosis process.
Global Ophthalmic Refractometer Market – Regional Analysis
On the basis of region, the global ophthalmic refractometer market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.
North America is expected to hold the dominant position in the global ophthalmic refractometer market during the forecast period owing to the increasing prevalence of age-related macular degeneration among the population. For instance, according to the American Academy of Ophthalmology, in 2019, in the U.S., age-related macular degeneration (AMD) is one of the leading causes of blindness in one or both eyes among individuals over the age of 50. An estimated 15 million people in North American are suffering from AMD, out of which 85–90% of the population has dry AMD, while, 10 – 15% has wet AMD. The greater percentage of the population in the U.S. is above the age of 60 and it has been predicted that the number of patients suffering from AMD will increase by 60% by the end of 2020.
Europe is expected to be an emerging ophthalmic refractometer market during the forecast period, owing to product launches in the region. For instance, in 2016, Topcon Corporation, a Japanese manufacturer, launched auto kerato-refractometer KR-800A in Europe. 3D auto alignment function and 8.5 inch touch screen panel makes the device easier to use and also increases efficiency of the results.
Figure 2: Global Ophthalmic Refractometer Market Value (US$ Mn) & Y-o-Y Growth (%), 2019 - 2027
Global Ophthalmic Refractometer Market – Competitive Landscape
Major players operating in the global ophthalmic refractometer market are Topcon Corporation, NIDEK CO., LTD., Birmingham Optical Group Ltd., EyeQue Corporation, Eye Care Leaders, LLC, Essilor International S.A., VIEWLIGHT LLC, Canon Inc., Takagi Ophthalmic Instruments Europe Ltd., Luneau Technology Operations SAS and Carl Zeiss AG.
Ophthalmic refractometer is a manually and computer-controlled device i.e. auto refractor. The equipment provides information regarding refractive errors and prescription of eyeglasses or contact lenses. The ophthalmic refractometers have sensors that detect the changes taking place in the cone cells of the eye. The device can also measure when the person’s eyes can focus properly on an image. Therefore, blindness can be prevented by using ophthalmic refractometer in patients.
Market Dynamics
Many non–governmental organizations, in collaboration with the government hospitals, are spreading awareness regarding eye care. For instance, on 18th February 2020, the Andhra Pradesh government (India) launched free eye checkup drives for senior citizens (above the age of 60) to spread awareness about eye care. The drive was carried out in collaboration with ASHA NGO, NGO hospitals and government hospitals. The drive ended on 31st July 2020 and checked almost 56,88,424 senior citizens in Andhra Pradesh. Therefore, increasing awareness among the population regarding eye care is expected to drive growth of the global ophthalmic refractometer market during the forecast period.
Market players are indulged refractometer market during the forecast period. For instance, in 2016, Essilor International S.A., in collaboration with automobile manufacturing company, Toyota, initiated a vision awareness drive to spread awareness about the importance of eye care for prevention of road accidents in India. The three day drive was carried out in Delhi, India, where the taxi driver’s eyes were checked using ophthalmic refractometer. According to the Essilor International S.A., 2016, out of 700, at least 200 taxi drivers were found to have poor vision and were provided spectacles. Similar such events are being planned by the manufacturer to carry them out all over India.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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