Global Ophthalmic Refractometer Market, by Product Type (Automatic (Portable/Handheld and Non Portable) and Semi–Automatic), by End User (Optometric Centers, Hospitals/Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa), is estimated to be valued at US$ 192.8 million in 2020 and is projected to exhibit a CAGR of 2.3% during the forecast period (2020 – 2027).
Global Ophthalmic Refractometer Market – Impact of Coronavirus (COVID – 19) Pandemic
The COVID – 19 pandemic is expected to hamper growth of the global ophthalmic refractometer market during the forecast period. The coronavirus cases are increasing at a very high rate across the globe. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 34.8 million cases and 1 million deaths due to coronavirus disease (COVID-19) were reported on October 04, 2020 across the globe.
To curb the spread of COVID-19, the Center for Disease Control and Prevention (CDC), advised people to not to visit eye clinics or hospital except for emergencies such as loss of vision, glaucoma, red, sticky and watery eyes etc. Furthermore, according to guidelines published in an article of the Middle East African Journal of Ophthalmology, in 2020, hospitals and ophthalmology clinics are required to sanitize their clinics and equipment after every use. The clinicians need to wear personal protective equipment (PPE) to protect themselves and prevent the spread of the infection. Moreover, patients should also wear a mask during the entire procedure.
Many non-governmental organizations are providing affordable eye care in low income areas. For instance, Brien Holden Foundation, a part of Australian NGO Cooperation Program (ANCP), is collaborating with National Health System in Australia. The mission of Brien Holden Foundation is to provide affordable and quality eye care to the low income areas in Australia. The foundation also conducts an optometry development program to train people in emerging economies about the basics of optometry by offering diploma or degree level certification in the field of optometry.
Market players are also launching modified products which is expected to spur the growth of the global ophthalmic refractometer market during the forecast period. For instance, in 2016, Birmingham Optical launched NIDEK TONOREF III. The device is a multi-functional equipment with properties such as auto-refractometer, non-contact tonometer, auto-keratometer and non-contact pachymeter. The device records multiple measurements in one sitting, and helps in increasing efficiency of the results.
The increasing prevalence of primary open angle glaucoma (POAG) among the U.S population is expected to drive the growth of the global ophthalmic refractometer market during the forecast period. For instance, according to the American Academy of Ophthalmology, in the year 2017, around 2.71 million people in the U.S were suffering from POAG, out of which 31% of the population belonged to the age group of 70 – 79 years, women accounted for 53% of the overall incidence. According to the same source, in 2050, around 7.32 million people in the U.S will suffer from POAG i.e., patients will increase by around five times. Therefore such high prevalence will contribute to the market growth.
Browse 37 Market Data Tables and 25 Figures spread through 144 Pages and in-depth TOC on Global Ophthalmic Refractometer Market, by Product Type (Automatic (Portable/Handheld and Non-Portable) and Semi–Automatic), by End User (Optometric Centers, Hospitals/Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027.
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Many companies are donating ophthalmic refractometer to hospitals for encouraging eye check-ups in the area. For instance, in 2019, ROADIS, a company involved in the development and management of roads worldwide, donated an ophthalmic refractometer to the civil hospital in Surat, Gujrat, India, in order to increase the efficiency of determining various eye problems such as refractive errors, pupil parameters, visual abnormalities etc. in patients. Such donations made by other companies help manufacturers to increase growth of the global ophthalmic refractometer market during the forecast period.
Key Takeaways of the Ophthalmic Refractometer Market: