Optometry Equipment Market: Increased prevalence rate of eye illnesses to drive the market
Global Optometry Equipment Market: Overview
As global eye care makes progress, the global optometry equipment market is likely to provide viable prospects. Growing research investment, increased integration of automation and smart technology are just a few of the key growth drivers projected to have a significant influence on the global Optometry Equipment Market in the near future. As the demand for speedier testing and rapid results becomes more prominent, high-end optometry equipment is expected to remain in high demand for the purpose of treatment of various hospital outpatients. Faster turnaround times are assisting patients in receiving timely therapy to avoid additional visual loss. When it comes to sale of diagnostic ophthalmic equipment, green spaces are obvious, as seen by the presence of several producers.
Transparency market research offers a comprehensive understanding of the global optometry equipment market through this report.
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Global Optometry Equipment Market: Notable Developments
Grafton Optical introduced the "Cell V100 portable vision screener" in April 2019, which is intended for application on youngsters and at events of mass screening. The gadget can test both eyes from a distance of one meter away and can provide findings in less than a second.
The noted players that are operational in the global optometry equipment market are Foundation Medical Incorporation, Myriad Genetic Laboratories Inc., Abbott Laboratories, F. Hoffmann-La Roche AG, DermTech Inc. and ARUP Laboratories.
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Global Optometry Equipment Market: Key Trends
Below-mentioned market trends and opportunities mark the global optometry equipment market:
High Prevalence of Diabetes to Cause Increasing Vision Impairment Worldwide
The increased incidences of eye disorders, technical developments in ophthalmic devices, and growing government measures to minimize visual impairment are some of the factors likely to drive the development of the global optometry equipment market.
The overall number of people with vision impairment as well as blindness is continually rising across the globe. With longer life expectancies, the number of persons with age-related eye disorders is expected to grow. Although cataracts are still the most common cause of vision loss and blindness worldwide, other age-related eye disorders such as degenerative myopia, age-related macular degeneration (AMD), diabetic retinopathy (DR), and glaucoma are becoming increasingly common in many of the developed countries across the globe.
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Type-2 diabetes has become much more common over time, resulting in a large number of deaths throughout the world. According to the International Diabetes Federation, about 463 million individuals aged between 20 years to 79 years had diabetes in 2019, with the number predicted to rise to 700 million by 2050. Approximately 80% of these patients live in middle- and low-income nations. In addition to that, the illness has claimed the lives of approximately 4 Mn individuals.
400,000 people are projected to be blinded as a result of diabetic retinopathy, whilst around 2.6 million people suffer from vision impairment. Recognizing this, nations all over the world are stepping up to offer high-quality treatment to reduce the prevalence of diabetes-related blindness in critical parts of the world. Allergan and the International Diabetes Federation announced a collaboration in 2018 to create a global strategy for treating, diagnosing, and screening diabetic macular edoema (DME).
Cataract is the most common eye illness in the world, and it is a leading cause of blindness in both poor as well as developed countries, which is likely to foster growth of the global optometry equipment market in the forthcoming years. A variety of risk factors for glaucoma, age-related macular degeneration, and cataracts have been proposed, but only a handful have been proven.
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Global Optometry Equipment Market: Geographical Analysis
Increased prevalence rate of eye illnesses and an ageing population, as well as a well-developed healthcare infrastructure is likely to drive demand in the North America Optometry Equipment Market in near future. In addition, presence of several important market players in the region is also expected to foster growth of the regional market.
According to the American Academy of Ophthalmology and the Centers for Disease Control and Prevention, there has been an initial drop of around 80% in ophthalmology visits, and an accumulated decrease of 40% in ophthalmology visits in the US as of mid-June 2020.
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