Global optometry equipment market is estimated to be valued at US$ 4,062.1 million in 2022 and is expected to exhibit a CAGR of 5.8% during the forecast period (2022-2030).
Figure 1.Global Optometry Equipment Market Share (%), by End User, 2022
Increasing incidences of eye disease and vision loss have led to introduction of new technologies to drive growth of the optometry equipment market
Increasing incidences of eye disease and vision loss have led to introduction of new technologies and methods by optometry instrument manufactures. For instance, HAAG-STREIT is a leading manufacturer of medical practice equipment, in January 2021, the company announced the launch of Lenstar Myopia, owing to the increasing demand for myopia management. The device performs accurate predictions about the onset and progression of myopia which is expected to drive the adoption of optometry equipment over the forecast period.
Figure 2.Global Optometry Equipment Market Share (%), by Region, 2022
Rising prevalence of eye disease is expected to augment the market growth during the forecast period
Rising prevalence of most common eye disease such as age-related macular degeneration (AMD), cataract, glaucoma, and diabetic retinopathy are major driving factor for growth of the optometry equipment market. For instance in October 2021, according to WHO, Globally, at least 2.2 billion people have a near or distance vision impairment. In at least 1 billion – or almost half – of these cases, vision impairment could have been prevented or has yet to be addressed.
Optometry Equipment Market Report Snapshots
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