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$ 212.9 Million in 2023, and is expected to exhibit a CAGR of 2.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing adoption of strategies by key market players like innovation in product launch is expected to drive the global ophthalmic refractometer market growth over the forecast period. For instance, on January 14, 2021, EyeQue Corporation, is a provider of smartphone-based vision tests for all vision needs. published VisionCheck 2 it functions like a tiny refractometer and allows to test vision and order glasses without going to the doctor's office. Patient can have a prescription ready in a matter of minutes by simply connecting the device to smartphone and following the on-screen instructions.
Global Ophthalmic Refractometer 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 spreads 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 regarding the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global ophthalmic refractometer market due to the increasing eye diseases because of COVID-19. For instance, on March 25, 2020, Ophthalmicmart, a company that provides ophthalmic instruments for ophthalmology practice or clinic, published an article in American Academy of Ophthalmology’s Anecdotal Journal. The article stated that new coronavirus outbreak could cause conjunctivitis. Coronavirus could be transmitted through aerosol with the conjunctiva.
Global Ophthalmic Refractometer Market: Key Developments
Increasing development and growth by key players is expected to drive market growth.
For instance, on August 19, 2021, EyeQue Corporation, the company in smartphone vision testing, announced that it had closed a Series C round and have raised more than US $ 57 million in capital. With its smartphone vision exams, the company contributes to low-cost vision correction to billions of individuals globally. In order to self-administer a refractive error test and obtain the findings necessary to buy corrective lenses, the business has developed a variety of at-home vision tests using optical smartphone attachments.
Browse 27 Market Data Tables and 24 Figures spread through 210 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)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ophthalmic-refractometer-market-4241
Key Takeaways of the Global Ophthalmic Refractometer Market:
- Global ophthalmic refractometer market is expected to exhibit a CAGR of 3 % during the forecast period. For instance, on September 14, 2021, EyeQue, a company that engages in innovative vision testing, published Using novel, MIT-patented technology, engineers, scientists, and ophthalmologists have developed state-of-the-art self-administered refractive error testing tools, according to a report. The U.S FDA provided input through the agency procedure regarding the requirement for a 510(k) clearance for VisionCheck measures nearsightedness, farsightedness, and astigmatism.
- Among end user, Optometric Centers segment is expected to dominate the global ophthalmic refractometer market over the forecast period, owing to increasing funding for patients. For instance, on December 20, 2022, EyeQue, the company that engages in innovative vision testing, announced the donation of 25,000 personal vision trackers to the Oklahoma City Indian Clinic. Oklahoma City Indian Clinic was established to provide excellent health care and wellness services to American Indians in central Oklahoma. The EyeQue VisionCheck and EyeQue Personal Vision Tracker accurately measures refractive error and detect changes between regular eye exams when properly used.
- Major players operating in the global ophthalmic refractometer market include 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, Carl Zeiss AG.
