Global Spot Vision Screener Market, By Indication Type (Myopia, Hyperopia, Astigmatism, Anisometropia, Strabismus, and Anisocoria), By End User (Hospitals, Specialty Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 227.2 Million in 2023 and is expected to exhibit a CAGR of 6.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies, such as partnerships as acquisitions, and increasing technological advancement activities by market players will drive the global spot vision screener market growth during the forecast period. For instance, in February 2021, The Cooper Companies, Inc., a global, consumer-centric medical device company, and EssilorLuxottica, a global company that caters to the design, manufacture, and distribution of ophthalmic lenses, frames, and sunglasses, entered into a joint venture agreement to accelerate the commercialization of innovative vision screeners from SightGlass Vision, an innovative technologies developer company which is designed to reduce the progression of myopia in children.
Global Spot Vision Screener Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global spot vision screener market owing to the decreased screening of the spot vision. For instance, in August 2022, according to an article published in Indian Journal of Ophthalmology, the screening of the spot vision in 2020 gradually decreased as compared 2019. Due to the outbreak of COVID-19, decrease in the screening of spot vision is observed.
Global Spot Vision Screener Market: Key Developments
In June 2020, Johnson & Johnson Vision, a global company in eye health and part of the Johnson & Johnson Services, Inc., a medical devices company, announced a new clinical research on myopia progression in children and detailed significant child myopia screening and education progress in the Asia Pacific region. The clinical research and public health programs are part of the comprehensive myopia research collaboration with the Singapore Eye Research Institute (SERI) and Singapore National Eye Centre (SNEC).
In June 20 2023, Rodenstock, a medical technology company and major manufacturer of spectacle lenses, introduced MyCon corrective spectacle lenses for childhood myopia
In March 2022, EssilorLuxottica, a global company concerned with the design, manufacture, and distribution of ophthalmic lenses, frames, and sunglasses, and The Cooper Companies, Inc. announced the finalization of their joint venture agreement for SightGlass Vision. This collaboration of two global vision care companies accelerates the commercialization of novel spectacle lens technologies to expand the myopia management category. SightGlass Vision’s Diffusion Optics Technology incorporates thousands of micro-dots into the lens that softly scatter light to reduce contrast on the retina, which is intended to reduce myopia progression in children.
Browse 34 Market Data Tables and 26 Figures spread through 230 Pages and in-depth TOC on “Global Spot Vision Screener Market”- Forecast to 2030, Global Spot Vision Screener Market, By Indication Type (Myopia, Hyperopia, Astigmatism, Anisometropia, Strabismus, and Anisocoria), By End User (Hospitals, Specialty Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Spot Vision Screener Market:
- The global spot vision screener market is expected to exhibit a CAGR of 6.0% during the forecast period and this is attributed to the increase in product launches by the market key players for the growth of the global spot vision screener market. For instance, in July 2022, HOYA, a manufacturer in optical technology innovation, announced the launch of its new global myopia education and marketing campaign ‘Myopia Care for Kids.’ The goal of the initiative is twofold; to raise awareness about the growing global rise of myopia in children, which commonly begins in children ages 6-141 and to provide detailed information about the innovative2 MiYOSMART spectacle lens developed specifically for kids to slow down myopia progression in children aged 8-13.
- Among end user, the hospitals segment is expected to show promising growth in the global spot vision screener market over the forecast period, and this growth is attributed to the increasing prevalence of vision-associated treatment and screening as hospitals have adapted new technologies for the screening purpose. For instance, on March 24, 2023, James E. Van Zandt Hospital introduced new vision screening technology that can detect early signs of certain eye diseases in veterans during regular checkups.
- Among indication, the myopia segment is expected to hold a dominant position in the global spot vision screener market during the forecast period, and this growth is attributed to the increasing prevalence of myopia. For instance, in July 2022, according to an article published in the Journal of BioMed Central, myopia is the leading cause of distance refractive error that affected 1.45 billion or 27% of the world's population in 2020.
- The major players operating in the global spot vision screener market include Hillrom, Essilor, OCULUS, FIM Medical, Adaptica, Honeywell International Inc., Plusoptix Inc., Health Access, LLC, Stereo Optical Company Inc., Visionix, and AEYE Health.