Eye Testing Equipment Market: Increase in the Geriatric Population and Rise in Eye Diseases to Drive the Market
Wilmington, Delaware, United States, Transparency Market Research Inc.: Eye testing involves examination of eyes for abnormalities or defects. It involves diagnosis of eye diseases. Eye testing detects refractive errors which are corrected through the use of spectacles and contact lenses. Medical professionals who are licensed to detect and treat defects or problems related to eyes use various eye testing equipment.
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Highly automated and sophisticated eye testing equipment are used by optometrists for eye examination. The global eye testing equipment market has witnessed significant growth in the past few years due to increase in the geriatric population and rise in eye diseases.
Studies show that 285 million people are visually impaired across the world. Uncorrected refractive errors are the major causes of visual impairment and vision loss in the long term. Aging demographics and increase in incidence of chronic diseases such as diabetes have led to rise in prevalence of eye diseases such as diabetic retinopathy, age-related macular degeneration, cataract, and glaucoma.
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According to the American Association of Ophthalmology (AAO), around 20.5 million people are suffering from cataract in the U.S. alone, along with an estimated 7.6 million suffering from diabetic retinopathy. According to the American Optometric Association, refractive errors such as myopia, presbyopia, and astigmatism affected an estimated 185 million people in North America in 2015.
Rise in prevalence of eye diseases and refractive errors across the world has led to an increase in the need of eye examinations and eye care. This is fueling the growth of the global eye testing equipment market. Globally, 80% of all visual impairment can be prevented or cured. Hence, rise in prevalence of chronic diseases, aging demographics, and rapid increase in prevalence of refractive errors present significant opportunities in the global eye testing equipment market.
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The global eye testing equipment market can be segmented based on type, end-user, and region. In terms of type, the global market can be classified into general eye testing products, retina & glaucoma testing products, and cornea & cataract examination products. The general eye testing products segment can be categorized into autorefractors & keratometers, slit lamps, chart projectors, tonometers, and lens meters.
The retina & glaucoma testing products segment can be divided into ophthalmoscopes, fundus cameras, retinoscopes, perimeters/visual field analyzers, and OCT scanners. The cornea & cataract examination products segment can be classified into optical biometry systems, corneal topography systems, wavefront aberrometers, and specular microscopes.
Based on end-user, the global eye testing equipment market can be categorized into clinics, hospitals, and others. Increase in the number of patients requiring comprehensive eye examinations and medical care and rise in the incidence of eye diseases across the world drive the clinics segment. According to the American Optometric Association, optometrists accounted for 53% of primary eye care services provided to patients in North America in 2013, while ophthalmologists and opticians accounted for the remaining 47%.
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Geographically, the global eye testing equipment market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2017, followed by Europe. Advancement in technology and awareness about eye diseases are the key factors boosting the growth of the eye testing equipment market in these regions. North America accounted for the largest share of the global eye testing equipment market in 2017. The market in the Middle East is in the developing phase, which offers significant opportunities in the near future due to rise in demand for eye care equipment. Increase in incidence of eye diseases and refractive errors is a major factor driving the global eye testing equipment market.
Key players operating in the global eye testing equipment market include Topcon Corporation, Hoya Group, Essilor, Carl Zeiss, and CooperVision.
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