Eye Testing Equipment Market Report 2024

The eye testing equipment market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth during the historical period can be credited to the rising incidence of vision impairments, an expanding elderly population, increased awareness concerning eye health, governmental initiatives promoting vision care, and higher healthcare spending.

The eye testing equipment market size is expected to see strong growth in the next few years. It will grow to $4.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Anticipated growth in the forecast period stems from heightened adoption of telemedicine, growing demand for portable and handheld eye devices, increased prevalence of diabetes and associated eye conditions, greater emphasis on preventive healthcare, and an expanding middle-class demographic. Key trends expected in this period include the integration of AI and machine learning in diagnostics, expanded use of virtual reality for eye exams, rising demand for personalized eye care solutions, advancements in imaging technologies, and increased collaboration between technology firms and healthcare providers.

The eye-testing equipment market is anticipated to grow significantly due to the rising prevalence of eye-related disorders. These disorders encompass various conditions affecting the eyes, such as glaucoma, cataracts, macular degeneration, and refractive errors such as myopia and hyperopia. Factors contributing to the increased number of patients with these disorders include aging populations, changes in lifestyle, environmental influences, and inadequate diagnostic capabilities leading to delayed detection. Eye testing equipment plays a crucial role in early detection, precise diagnosis, and continuous monitoring of conditions such as glaucoma, cataracts, and macular degeneration. According to the Centers for Disease Control and Prevention, as of January 2024, over 3.4 million Americans aged 40 and older were visually impaired or blind, a number projected to double by 2030. Hence, the growing prevalence of eye-related disorders is expected to propel the eye-testing equipment market forward.

Leading companies in the eye-testing equipment sector are innovating advanced devices to improve diagnostic accuracy and streamline screening processes. One notable advancement is the development of handheld artificial intelligence fundus cameras. These cameras use AI technology to capture detailed images of the eye's fundus, aiding in the diagnosis of various eye conditions. For example, in May 2024, Optomed USA introduced the Optomed Aurora AEYE, a handheld AI-powered fundus camera designed specifically to swiftly detect diabetic retinopathy beyond mild stages. This device simplifies screening procedures with its user-friendly interface, requiring just one image per eye and delivering results in under a minute.

In September 2021, Luneau Technology Operations SAS, a France-based ophthalmic diagnostic product manufacturing company, merged with Optovue Inc. The merger established Visionix USA and enabled both companies to bring together their business activities and offer a comprehensive range of ophthalmic products. Optovue Inc. is a US-based company specializing in the manufacturing and distribution of ophthalmic devices, which include optical coherence tomography (OCT) systems.

Major companies operating in the eye testing equipment market are Johnson & Johnson, EssilorLuxottica SA, Shanghai Bolan Optical Electric Co. Ltd, Alcon Inc., Bausch Health Companies Inc, AMETEK Inc., Canon Medical Systems Inc., Heidelberg Engineering GmbH., Carl Zeiss Meditec AG, Halma plc, Topcon Corporation, Metall Zug AG, Takagi Seiko Co. Ltd., Nidek Co. Ltd, HEINE Optotechnik GmbH & Co. KG, Revenio Group PLC, Huvitz Co. Ltd., Coburn Technologies Inc., Luneau Technology Group, Kowa Company Ltd., Oculus Inc., Apollo Medical Optics Ltd., Tomey Corporation, Albert Waeschle Limited.

North America was the largest region in the eye testing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the eye testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Eye testing equipment comprises a range of devices and instruments utilized by eye care professionals for evaluating vision issues and eye health. Its functions include diagnosing, treating, and managing eye conditions, assessing visual function, prescribing corrective lenses, and monitoring eye health.

Key tools in eye testing equipment include the slit lamp, biometer, perimeter, tonometer, optical coherence tomography (OCT), fundus camera, autorefractor, and keratometer. A slit lamp is a specialized microscope used by ophthalmologists to examine the eye's anterior segment, including the cornea, iris, and lens. These devices find applications in general examinations, as well as specific conditions such as glaucoma and cataracts, serving various users such as hospitals, eye clinics, and optometry schools.

The eye testing equipment market research report is one of a series of new reports that provides eye testing equipment market statistics, including eye testing equipment industry global market size, regional shares, competitors with a eye testing equipment market share, detailed eye testing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the eye testing equipment industry. This eye testing equipment market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The eye testing equipment consists of sales of autorefractors, phoropters, slit lamps, optical coherence tomography (OCT) machines, and visual field testers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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