Impact Analysis of Covid-19
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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 Types, and Accessories), by End User (Hospitals, Eye Specialty Clinics, and Ambulatory Care Centers), 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 5.6 % over the forecast period (2018 – 2026).
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The demand for advanced optometry instruments is increasing, as eye clinics and ophthalmology hospitals are using technologically advanced optometry equipment. These equipment help optometrists to perform eye examination and possible diagnosis of disease condition, efficiently and safely, with better outcomes. Major players in the market are focusing on adopting strategies such as continuous product launches in optometry equipment, which is expected to drive the market growth. 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 offers 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. This device will be launched in the U.S. after receiving approval from the U.S. Food and Drug Administration (FDA).
Furthermore, in August 2017, Nidek Co. Ltd. launched its new tabletop subjective refraction system: TS-310, in the U.S. market. It 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. High resolution wavefront analysis is utilized by the scanner, 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, and Accessories), By End User (Hospitals, Eye Specialty Clinics, and Ambulatory Care Centers), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa)– Global Forecast to 2026’
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Key players in the optometry equipment market are focused on adopting strategies such as acquisition, in order to enhance their product portfolio and expand geographical presence. 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, 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, thereby 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. Through this acquisition, VISION EASE’s specialties in the polycarbonate, photochromic, and polarized eyeglass lenses manufacturing and Daemyung Optical’s existing product line and distribution capabilities were combined.
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Key Takeaways of the Optometry Equipment Market:
- The global optometry equipment market is expected to expand at a CAGR of 5.6% over the forecast period. This is attributed to rising incidence of eye disease and vision loss, worldwide.
- Among product type, retina and glaucoma examination optometry equipment segment is expected to hold the largest market share due to rising number of population suffering from glaucoma
- Among end users, eye specialty clinics segment held the largest share. This is attributed to factors such as higher number of patients being treated in clinics and rising number of private clinical practices established by ophthalmologists and optometrists in emerging economies.
- Key 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
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