Connect with us

Trends

Eye Examination Equipment Market to Grow 6.2 Percent

The global eye examination equipment market size is expected to reach USD 8.8 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.2 percent Increasing prevalence of eye-related disorders is anticipated to drive the demand for advanced ophthalmic treatment procedures. Growing global geriatric population is another factor propelling the optometry/eye examination equipment market. According to US Census Bureau published on June 2017, the total population aged 65 and older in the US increased to 49.2 million in 2016, accounting for 15.2 percent of the total population, from 35 million in 2000, which represented only 12.0 percent of the total population. Mounting cases of age-related disorders including glaucoma, cataracts, and age-related macular degeneration (AMD) are likely to stoke the growth of the market.

Further key findings from the report suggest:

  • Growing prevalence of eye diseases and influx of technologically advanced ophthalmic devices are anticipated to boost the growth of the optometry/eye examination equipment market.
  • Ophthalmic ultrasound imaging systems are expected to exhibit the fastest growth over the coming years, owing to rising penetration of B-Scan ultrasound.
  • Hospitals accounted for the largest revenue share in the market in 2017, owing to rising ophthalmic surgical procedures in hospitals.
  • North America held the dominant share in the optometry/eye examination equipment market in 2017, due to presence of well-established healthcare setting and treatment facility, surging demand for technologically advanced healthcare products, and favorable reimbursement facilities.
  • The market in Asia-Pacific, especially Japan and India, are estimated to witness remarkable growth due to increasing investments in the healthcare sector. In Feb 2017, the Japan government invested USD 500 million to build a new eye hospital in order to fulfil the vision 2020 approach by WHO.
  • Some of the key companies present in the market are Carl Zeiss Meditec AG; Bausch & Lomb Inc.; Johnson & Johnson Vision Care Inc.; Novartis AG; NIDEK CO.; LTD; and Canon. – Grand View Research

Copyright © 2024 Medical Buyer

error: Content is protected !!