Optometry Equipment Market to Surpass US$ 4.1 Billion Threshold by 2026

Published On : Aug 17, 2018

The Global Optometry Equipment Market, by Product Type (Retinoscopes, OCT Scanners, Corneal Topography Systems, Visual Field Analyzers, Ophthalmic Ultrasound Systems, Fundus Cameras, Autorefractors and Keratometers, Ophthalmoscopes, Optical Biometry Systems, Specular Microscopes, Wavefront Aberrometers, Other Equipment, Accessories), by End User (Eye Specialty Clinics, Ophthalmic Hospitals, Academic and Research Institutions), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2.4 billion in 2018, and is projected to exhibit a CAGR of 6.4% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.

Integration of technologically advanced optometry equipment in the eye clinics and ophthalmology hospitals are expected to propel demand for advanced optometry instruments. These are expected to assist optometrist to perform eye examination and possible diagnosis of disease condition, efficiently and safely, with better outcomes.

Key players in the market are focusing on continuous product launches in optometry equipment, which is expected to support growth of the market. For instance, in February 2017, Haag-Streit UK launched new Allegra 700 microscope in the U.K. The new Allegra 700 microscope is specialized in ENT examination and procedures. Moreover, it is optimized to offer speed and flexibility during eye examination in clinics and hospitals.

Nidek, in April 2017, launched its NAVEX Quest M2: an advanced vision excimer laser system. This system is integrated with Quest M2 excimer laser system and Final Fit software: an eye tracking system for torsion error correction. Nidek intends to launch the device in the U.S. after the product gets Food and Drug Administration (FDA) approval. Furthermore, in August 2017, Nidek Co. Ltd. launched its new tabletop subjective refraction system: TS-310, in the U.S. market. The TS-310 integrates the chart and refractor into a single unit and allows eye care professionals to easily switch from near and far testing.

In November 2017, TearScience- a subsidiary of Johnson and Johnson Vision launched TearScience LipiScan and LipiFlow imager device in North America (U.S. and Canada). This durable and lightweight device offers high-definition meibography with easy workflow management.

In September 2014, Rodenstock GmbH launched the DNEye scanner for precision eye measurement capture. The scanner uses high resolution wavefront analysis and includes corneal topography and autorefractometer functions in one unit.

Browse 27 Market Data Tables and 31 Figures spread through 178 Pages and in-depth TOC on ‘Optometry Equipment Market, by Product Type (Retinoscopes, OCT Scanners, Corneal Topography Systems, Visual Field Analyzers, Ophthalmic Ultrasound Systems, Fundus Cameras, Autorefractors and Keratometers, Ophthalmoscopes, Optical Biometry Systems, Specular Microscopes, Wavefront Aberrometers, Other Equipment Types, Accessories), by End User (Eye Specialty Clinics, Ophthalmic Hospitals, Academic and Research Institutions), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa)- Global Forecast to 2026’

To know the latest trends and insights prevalent in the optometry equipment market, click the link below:

https://www.coherentmarketinsights.com/market-insight/optometry-equipment-market-2068

Furthermore, various major players in the optometry equipment market are engaged in acquisition strategies to diversify their product portfolio and expand geographical reach.   

For instance, in September 2015, The Luneau Technology Group: a company engaged in development, manufacture and marketing of Briot and Weco edgers and Visionix wavefront based refraction and diagnostic instruments, were merged its Briot USA subsidiary with AIT Industries: a distributor of ophthalmic equipment and instruments. Both AIT Industries and Briot USA will continue their business under their current names. This partnership between AIT Industries and Luneau Technology USA enables increased versatility in resource allocation increasing customer efficiency and expanding customer reach.

In August 2017, HOYA Corporation completed the acquisition of Performance Optics, LLC, including its subsidiaries VISION EASE and Daemyung Optical. Acquisition combines VISION EASE’s specialties in the polycarbonate, photochromic, and polarized eyeglass lenses manufacturing and Daemyung Optical’s existing product line and distribution capabilities.    

Key Takeaways of the Optometry Equipment Market:

  • The global optometry equipment market is expected to exhibit a CAGR of 6.4% over the forecast period, owing to increasing incidence of eye disease and vision loss, worldwide.
  • Among product type, retina and glaucoma examination optometry equipment segment is expected to exhibit the largest market share, owing to growing number of population suffering from glaucoma
  • Among end users, eye specialty clinics segment accounted for the largest share, owing to the factors such as higher number of patients being treated in clinics and increasing number of private clinical practices established by ophthalmologists and optometrists in emerging economies.
  • Some of the major players operating in the global optometry equipment market include Canon Inc., Carl Zeiss AG, Escalon Services, Inc., Essilor International S.A., Haag-Streit AG, Heidelberg Engineering GmbH, Heine Optotechnik GmbH & Co. KG, Luneau Technology Group, NIDEK CO., LTD., Novartis International AG, and Topcon Corporation.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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