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Optometry Equipment Market: Growth Projection, Trends, and Key Players 2024-2031
Optometry Equipment Market - DataM Intelligence
The Global Optometry Equipment Market reached USD 3.8 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 6.1 billion by 2031. The Global Optometry Equipment Market is expected to exhibit a CAGR of 6.2% during the forecast period 2024-2031.
The Optometry Equipment Market is witnessing notable trends characterized by increased research and development efforts for the diagnosis and treatment of ophthalmic disorders such as glaucoma or cataracts, alongside a surge in clinical trials. This heightened focus on innovation enables ophthalmologists to enhance their efficiency and accuracy in patient care.
Moreover, the market is propelled by escalating government initiatives and support, coupled with a growing demand for point-of-care treatment solutions. Particularly, North American regions are experiencing a surge in demand, driven by advancements in research within the field. Key competitors such as Nidek Co., Ltd., Topcon Corporation, ZEISS Group, among others, are actively engaged in the market, contributing to its dynamism and competitiveness.
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Optometry Equipment Market Trends
The optometry equipment market presents lucrative opportunities for manufacturers, driven by increasing research and development efforts and the introduction of novel products. This growth is fueled by advancements in technology and research, driven by the rising prevalence of ophthalmic disorders. Notably, prominent key players are actively engaging in studies, further propelling market expansion.
Optometry equipment and tools play crucial roles in surgeries and treatments, leading to increased government funding and programs to support their usage. This funding facilitates the development of optometry equipment such as tonometers, slit lamps, and ophthalmic ultrasound devices.
Innovative research, such as the investigation into octopus vision conducted at the University of Bristol, has led to the development of user-friendly tests for optometrists. This research revealed that octopuses possess highly effective polarization vision systems, inspiring the creation of cutting-edge medical devices. Subsequent research employing similar technology in humans has resulted in the development of revolutionary medical devices capable of identifying the risk factors for future sight loss.
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Industry Segmentation
By Product Type
Refractometer
Optical Coherence Tomography
Ophthalmic Ultrasound Devices
Tonometers
Slit Lamp
Corneal Topography Systems
Ophthalmoscope
Fundus Camera
Lensometers
Others
By Application
Cataract
Glaucoma
Age-related Macular Degeneration
Diabetic Macular Edema
Others
By End-User
Hospitals
Ophthalmic Clinics
Ambulatory Surgical Centers
Others
Market Key Players
Major players are Halma Plc, Ziemer Ophthalmic Systems AG, ZEISS Group, Topcon Corporation, Lumibird Medical, Nidek Co., Ltd., Haag-Streit Group, Coburn Technologies, Inc., Kowa American Corporation and Oculus Inc.
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