Autorefractor Market Size, Business Growth Updates, Trends, Industry Report And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Autorefractor Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The autorefractor market size has grown rapidly in recent years. It will grow from $1.56 billion in 2023 to $1.7.3 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to the rise of telemedicine and remote eye care, the growing aging population, the increasing need for eye care services, rising awareness of eye health, and government initiatives and policies.

The autorefractor market size is expected to see rapid growth in the next few years. It will grow to $ 2.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to the increasing prevalence of vision diseases, increasing demand for precision and efficiency, integration with electronic health records, increasing investment in research and development, and rising usage of spectacles and contact lenses. Major trends in the forecast period include the development of smaller and portable autorefractors, integration with digital platforms, integration of artificial intelligence (AI) and automation, demand for teleophthalmology, customization, and personalization.

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Market Drivers and Trends:

The rising incidence of vision diseases is expected to propel the growth of the autorefractor market going forward. A vision disease is a medical condition that impairs the ability to see clearly, affecting one or more components of the visual system, including the eyes, optic nerves, or brain. Vision diseases are rising due to factors such as aging populations, increased screen time, poor lifestyle choices, and a higher prevalence of chronic conditions. An autorefractor is used in vision disease diagnosis to quickly and accurately measure refractive errors and determine appropriate corrective lenses. For instance, in August 2023, according to a report published by the Centers for Disease Control and Prevention, a US-based government agency, the number of individuals with vision impairment in the United States would increase to 8.96 million by 2050. Additionally, approximately 6.8% of children under the age of 18 in the U.S. have been diagnosed with eye and vision issues, with nearly 3% experiencing blindness or visual impairment that persists despite corrective eyewear. Therefore, the rising incidence of vision diseases is driving the growth of the autorefractor market.

Major companies operating in the autorefractor market are developing technologically advanced products, such as wavefront aberrometry, to better serve customers with advanced eye care solutions. Wavefront aberrometry refers to advanced technology designed to measure the way light waves travel through the eye, providing precise and detailed information about visual aberrations. For instance, in October 2021, Grafton Optical, a UK-based provider of optometry and ophthalmology instruments, launched the QuickSee handheld autorefractor from PlenOptika. This device utilizes an open-view binocular design, wavefront aberrometry, and dynamic measurements to deliver clinically accurate autorefraction measurements. It is suitable for use in clinics and in the field, making it particularly useful for patients with mobility issues. The device can be used indoors or outdoors, and dark eye cups help isolate the patient's eyes from ambient light in varying light settings.

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Major Key Players of the Market:

Essilor Group, Carl Zeiss Meditec, Topcon Corporation, Heidelberg Engineering GmbH, Rexxam Co. Ltd., Huvitz Co. Ltd., Reichert Inc., Righton, SCHWIND eye-tech-solutions GmbH, Takagi Seiko Co. Ltd., Visionix Ltd., Coburn Technologies Inc., Veatch Ophthalmic Instruments, CSO Italia, Nidek Co. Ltd., Luneau Technology GmbH, Aeon Imaging LLC, CENTERVUE Inc., Allied Medical Technologies, Ming Sing Optical Co. Ltd.

Autorefractor Market 2024 Key Insights:

• The autorefractor market size is expected to see rapid growth in the next few years. It will grow to $ 2.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%.
• Rising Vision Diseases Drive Growth In The Autorefractor Market
• Innovative Technologies In The Autorefractor Market
• North America was the largest region in the autorefractor market in 2023

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