Optical Biometry Devices Market to grow by USD 93.26 million from 2022 to 2027, North America to account for 31% of market growth- Technavio

NEW YORK, Sept. 20, 2023 /PRNewswire/ -- The optical biometry devices market is expected to grow by USD 93.26 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 5.44% during the forecast period, according to Technavio Research. The market has been segmented by end-user (hospitals, ASCs, and others), product (SS-OCT-based optical biometers, OLCR-based optical biometers, and PCI-based optical biometers), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to contribute 31% to the growth of the global market during the forecast period. The major revenue-generating market in this region is the US. The number of people over 65 years old in the country is expected to more than double by 2030 and reach 71 million, according to the CDC. It is therefore expected that there will be an increased number of cataract surgeries in the country. Furthermore, a significant source of revenue is derived from the considerable concentration of players in the Regional Market. In addition, the availability of modern infrastructure and quality of care attracts patients. Hence, these factors are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read FREE PDF Sample Report

Company Profile:

AMETEK Inc., Bausch Lomb Corp., Baxter International Inc., Carl Zeiss AG, Danaher Corp., HEINE Optotechnik GmbH and Co. KG, HOYA Corp., MEDA Co. Ltd., Metall Zug AG, NIDEK Co. Ltd., OCULUS Optikgerate GmbH, Revenio Group Corp., Santec Corp., The Cooper Companies Inc., Tianjin Sower Electronic Technology Co. Ltd., Tomey Corp., Topcon Corp., US Ophthalmic LLC, Visionix USA Inc., and Ziemer Ophthalmic Systems AG

AMETEK Inc. - The company offers optical biometry devices through its division Reichert Inc.

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Optical Biometry Devices Market: Segmentation Analysis

The market share growth by the hospitals segment will be significant during the forecast period. As a result of factors such as the ease of use and availability of optical biometers, and their technology being available in hospitals, it is expected that this segment will have the largest revenue share.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Optical Biometry Devices Market: Market Dynamics

Key Driver

• Rise in prevalence of cataracts among geriatric population
• Increased efficiency of optical biometry over ultrasound A-scans
• Favorable reimbursement conditions

The rise in the prevalence of cataracts among the geriatric population is a key factor driving market growth. Cataract surgery is one of the most frequently performed surgical procedures that results in significant and lasting improvements in the quality of life for all patients, regardless of age. Furthermore, technological advancements in cataract surgery have also led to a significant increase in the frequency of these operations, resulting in better outcomes and increased safety for patients. In people aged between 50 and 90 years, the number of cataract surgeries is increasing. Older adults are more willing to lead a more active lifestyle and take care of their health and vision, leading them to opt for cataract surgery. Hence, these factors are expected to drive market growth during the forecast period.

The shift toward ASCs for eye care is a major trend in the market. Identify key trends, drivers, and challenges in the market. Download a FREE sample to gain access to this information.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio