OCT Devises Proliferate the Eye Testing Equipment Market Led by Non-Invasive Optical Biopsy

In 2021, the eye testing equipment market captures $2,852.2 million in revenue, and by 2030, it is projected to rise to $5,246.1 million, progressing at a 7.0% rate from 2021 to 2030, attributed to the growing prevalence of eye disorders in the emerging economies, leads to increase in demand of the treatment and examination of the eye and technological advancements in the ophthalmic diagnostics.

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Moreover, the autorefractor and phoropter category contribute 30% revenue share to the market, under the device segment, owing to the surging myopia prevalence in adults and children, resulting in the snowballing requirement for the eyeglasses and expansion of the eye examination market. For example, one in four children suffers from myopia condition. Autorefractors detect the refraction error in children within five minutes; similarly, near-sightedness, farsightedness, and astigmatism are detected by phoropter equipment.

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The rising prevalence of glaucoma is projected to experience the highest sales in the eye testing equipment market, advancing at a rate of 8.0% in the near future. There were around 78 million glaucoma patients in 2020, and the number is expected to grow and reach 110 million by 2040. Tonometry and OCT devices provide support in diagnosing glaucoma, and hence the growing incidences of glaucoma will drive the market for OCT devices and tonometers.

A significant share of the eye testing equipment market is captured by the hospitals and eye clinics, due to their rising preference among people to get the treatment. Moreover, in developing countries, people rely entirely on hospitals and clinics for eye treatment and diagnosis procedures. Additionally, the increase in the disposal income of the people, rising awareness and knowledge of eye treatments across the world, and improvements in the healthcare infrastructure drive the market.

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