Press release
Eye Testing Equipment Market Poised for 7.6 % Growth, Set to Hit $3.73 Billion by 2029
Eye Testing Equipment Market Size
The market size for eye testing equipment has seen robust growth in the past few years. The market is projected to increase from $3.27 billion in 2024 to $3.54 billion in 2025, a compound annual growth rate (CAGR) of 8.0%. The substantial growth experienced in the historic phase can be linked to an escalating prevalence of vision impairments, an expanding aging population, heightened understanding of eye health, government-led vision care initiatives, and a rise in healthcare spending.
The market size of eye examination equipment is anticipated to experience robust growth in the coming years, expanding to $4.75 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. The projected growth in this period is due to factors such as the rise of telemedicine, an increased need for portable and handheld tools, a growing number of diabetes-related eye conditions, a heightened emphasis on preventative health care, and a growing middle-class demographic. Expected trends in the forecast period involve the incorporation of Artificial Intelligence and machine learning in diagnosis, a rise in the use of virtual reality for eye tests, increasing demand for tailored eye care solutions, progression in advanced imaging technologies, and an increase in partnerships between technology firms and healthcare providers.
What Is Contributing to the Growth of the Eye Testing Equipment Market?
The escalating instances of eye-related health issues is anticipated to fuel the expansion of the eye-testing equipment market in the future. Such health issues encompass a variety of disorders that impact the eyes, such as glaucoma, cataracts, macular degeneration, and refractive errors like myopia and hyperopia. The growing number of patients suffering from eye-related diseases arises from elements like an aging population, modifications in lifestyle, environmental influences, and a deficiency in diagnostic capabilities leading to delayed detection of issues. Eye testing apparatus is employed for the early identification, precise diagnosis, and effectual scrutiny of eye-related disorders like glaucoma, cataracts, and macular degeneration. For instance, the Centers for Disease Control and Prevention, a US-based organization focused on science and data-driven services for public health protection, confirmed in January 2024 that over 3.4 million Americans aged 40 and over were either blind or visually impaired - a figure that is predicted to double by 2030. Therefore, the escalating instances of eye-related health issues will fuel the expansion of the eye-testing equipment market.
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Who Are the Major Industry Players Fueling Eye Testing Equipment Market Expansion?
Major companies operating in the eye testing equipment market are Johnson & Johnson, EssilorLuxottica SA, Shanghai Bolan Optical Electric Co. Ltd, Alcon Inc., Bausch Health Companies Inc, AMETEK Inc., Canon Medical Systems Inc., Heidelberg Engineering GmbH., Carl Zeiss Meditec AG, Halma plc, Topcon Corporation, Metall Zug AG, Takagi Seiko Co. Ltd., Nidek Co. Ltd, HEINE Optotechnik GmbH & Co. KG, Revenio Group PLC, Huvitz Co. Ltd., Coburn Technologies Inc., Luneau Technology Group, Kowa Company Ltd., Oculus Inc., Apollo Medical Optics Ltd., Tomey Corporation, Albert Waeschle Limited
Which Key Developments Are Influencing the Eye Testing Equipment Market?
Leading firms in the eye-testing equipment market are creating innovative eye-testing tools, notably handheld fundus cameras embedded with artificial intelligence, to amplify diagnostic precision and streamline examination procedures. A handheld fundus camera equipped with AI is utilized for taking comprehensive photos of the eye's fundus, aiding the detection of eye diseases. For example, in May 2024, a medical technology company based in the US known as Optomed USA, introduced Optomed Aurora AEYE. This product is a handheld fundus camera driven by AI, expressly created to identify diabetic retinopathy beyond the initial stages speedily, thus facilitating instant eye tests in primary healthcare environments. The instrument is user-friendly, necessitating merely a single image per eye and generates outcomes within sixty seconds.
How Is the Segmentation of the Eye Testing Equipment Market Defined?
The eye testing equipment market covered in this report is segmented -
1) By Device: Slit Lamp, Biometer, Perimeter, Tonometer, Optical Coherence Tomography (OCT), Fundus Camera, Autorefractor And Keratometer, Other Devices
2) By Application: General Examination, Glaucoma, Cataract, Other Applications
3) By End User: Hospital, Eye Clinic, Optometry Academic Institute
Subsegments:
1) By Slit Lamp: Tabletop Slit Lamp, Handheld Slit Lamp, Digital Slit Lamp
2) By Biometer: Optical Biometer, Ultrasound Biometer
3) By Perimeter: Static Perimeter, Kinetic Perimeter
4) By Tonometer: Applanation Tonometer, Non-Contact Tonometer, Rebound Tonometer, Indentation Tonometer
5) By Optical Coherence Tomography (OCT): Spectral Domain OCT (SD-OCT), Swept-Source OCT (SS-OCT), Handheld OCT
6) By Fundus Camera: Mydriatic Fundus Camera, Non-Mydriatic Fundus Camera, Hybrid Fundus Camera
7) By Autorefractor And Keratometer: Standalone Autorefractor, Combined Autorefractor-Keratometer
8) By Other Devices: Phoropter, Retinoscope, Visual Field Analyzer, Corneal Topographer
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What Is the Leading Region in the Eye Testing Equipment Market?
North America was the largest region in the eye testing equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Eye Testing Equipment Global Market Report?
- Market Size Analysis: Analyze the Eye Testing Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Eye Testing Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Eye Testing Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Eye Testing Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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