The ophthalmic equipment market is forecasted to reach $5.40 billion by 2029, growing at a CAGR of 4.0% from 2022 to 2029, according to the report "Optometry Equipment Market by Product (OCT Scan, Perimeter, Fundus Camera, Retinoscope, Keratometer, Ophthalmic Ultrasound, Tonometer, Slit Lamp, Chart Projector), Application (Cataract, Glaucoma, AMD), End User (Clinic, Hospital)—Global Forecast to 2029" by Meticulous Research®.

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Optometry equipment plays a crucial role in diagnosing and treating eye conditions like age-related macular degeneration (AMD), cataracts, diabetic retinopathy, glaucoma, and amblyopia & strabismus. The growing prevalence of these conditions, driven by an aging population and increasing chronic diseases like diabetic retinopathy, is propelling market growth. Rendia, Inc. (U.S.) data indicates that optometrists diagnose about 400,000 new cases of diabetic retinopathy each year in the U.S.

COVID-19 Impact

The COVID-19 pandemic adversely affected the optometry equipment market. Economic shutdowns and supply chain disruptions led to shortages of optometry equipment. The pandemic also resulted in fewer eye examinations and delays in non-urgent surgeries due to lockdowns and social distancing measures. However, the pandemic has also accelerated the adoption of telehealth and specialty optometric practices, and increased screen time has led to a rise in myopia cases.

As recovery from the pandemic progresses, the market is expected to see new opportunities. The Bureau of Labor Statistics forecasts a 9% increase in optometrist employment by 2031, highlighting growth prospects.

Market Segmentation

The market is categorized by product type, application, and end-user. Key product segments include retina and glaucoma examination products, keratometers, autorefractors, lensometers, ophthalmic ultrasound systems, digital phoropters, slit lamps, tonometers, retinal imaging systems, general examination products, and chart projectors. The retina and glaucoma examination products segment is expected to dominate due to rising cases of retinal and glaucoma disorders. According to National Glaucoma Research, 80 million people globally are affected by glaucoma, with projections surpassing 111 million by 2040.

General eye examinations are projected to grow at the highest CAGR due to increased awareness and screen time from mobile and computer usage. Clinics are anticipated to hold the largest market share among end-users due to their advanced technology and preference as primary care centers.

Leading Market Players

Key players in the optometry equipment market include NIDEK CO. LTD. (Japan), Carl Zeiss Meditec AG (Germany), Alcon (U.S.), Heidelberg Engineering GmbH (Germany), Johnson & Johnson (U.S.), Canon, Inc. (Japan), Bausch Health Companies Inc. (Canada), Escalon Medical Corp (U.S.), Topcon Healthcare Solutions, Inc. (U.S.), and HEINE Optotechnik GmbH & Co. KG (Germany). These companies are focusing on strategic developments and expanding their market presence.

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