Eye Testing Equipment Market Revenue To Surpass $5,246.1 Million by 2030, says P&S Intelligence

NEW YORK, July 22, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the global eye testing equipment market was worth around $2,852.2 million in 2021, which will rise to $5,246.1 million by 2030, at a 7.0% compound annual growth rate. This is attributed to the increase in the incidence of eye illnesses, rise in the demand for eye exams and treatments in industrialized nations, and advancements in ophthalmic diagnostic technologies.

As these healthcare facilities are chosen by the majority of the patients with eye problems, hospitals and eye clinics account for the biggest share of the eye testing equipment market. In emerging economies, eye care and diagnosis processes are, many times, only offered at hospitals and eye clinics.

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Major Market Share Taken by Autorefractors and Phoropters

• The autorefractor and phoropter category holds a more than 30% share of the eye testing equipment market. Myopia is becoming more common in both children and adults, which is fueling the usage of these devices.
• Moreover, uncorrected refractive error is the second-leading cause of preventable blindness in the world, a significant public health problem, and one of the most-prevalent visual abnormalities across all age groups.
• Furthermore, due to the requirement for regular fundus screening for those with diabetes mellitus, fundus cameras have the third-largest market share. Because of their higher risk of developing diabetic retinopathy, cataracts, diabetic macular edema, and glaucoma, patients with diabetes mellitus require eye screening once every six months or once a year.

Browse detailed report on Eye Testing Equipment Market Size, Share, Growth and Demand Forecast Report 2030

Geographical Analysis

• In 2021, North America held 35% revenue share in the market. This was a result of both the huge investment in this domain of human health and the widespread adoption of cutting-edge products in eye care services.
• Similarly, Germany holds a significant market share in Europe because of the advanced ophthalmological services and products that are provided in the country and the growing spending on eye care.
• The APAC eye testing equipment market holds the second-largest global share, and it will advance with a significant CAGR from 2021 to 2030. This is because there are an increasing number of individuals who are vision impaired, which will provide a huge challenge to those who provide eye care services and force them to buy cutting-edge equipment for diagnosis.
• A third of the world's population of blind people resides in China, which is why it had the largest share of the market in the region in 2021. The main cause of vision loss in nearly half of them, along with glaucoma, is cataracts, which will increase the need for eye care supplies.

Eye Testing Equipment Market Report Coverage

By Device

• Autorefractor and Phoropter
• Optical Coherence Tomography Device
• Fundus Camera
• Perimetry Equipment
• Tonometer
• Biometer
• Slit Lamp

By Application

• General Examination
• Cataract
• Glaucoma

By End User

• Hospitals and Eye Clinics
• Ambulatory Surgical Centers
• Optometry Academic Institutes

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SOURCE P&S Intelligence