Optometry Equipment Market Size:

The Optometry Equipment Market was valued at USD 4.37 billion in 2023 and is expected to reach USD 7.63 billion by 2032, growing at a CAGR of 6.39% from 2024-2032.

The optometry equipment market is growing rapidly, with increasing interest in more advanced diagnostic tools and the alarming increase in eye diseases and disorders around the world. As the global population ages, the demand for optometry care increases, especially for a condition such as glaucoma, cataract, and age-related macular degeneration (AMD). Technological innovations in optometry devices, such as retina and glaucoma examination products, will also promote market growth, mainly by innovations like Optical Coherence Tomography (OCT), a technology for non-invasive imaging of the retina.

Apart from this, the growing need for preventive eye care along with the growing adoption of digital eye examinations is also fueling growth in usage in optometry equipment. With AI and machine learning now introduced in optometry devices in an attempt to deliver precise diagnostic treatment plans, the growth rate has picked up in this market, and such developments are considered pivotal steps toward betterment in the quality of patient care combined with more efficient optometric practice performances.

Rising awareness of various vision health issues along with rapid growth in the number of eye care facilities, especially in Asian Pacific emerging markets, has encouraged market growth. Increased development in portable and affordable diagnostic equipment can make optometric care more viable for a larger market. The optometry equipment market will continue to have an upward trend with emphasis on vision health around the globe for healthcare systems. Key players will invest in research and development in order to enhance product offerings.

Strategic collaborations between healthcare providers, technology firms, and manufacturers are supportive of growth in the market. Continuous technological innovations, along with expanding applications in pediatric and geriatric eye care, promise sustained momentum in the optometry equipment market, ensuring comprehensive solutions for a diverse range of vision-related needs.

Optometry Equipment Market Dynamics

Drivers

• The Increasing Prevalence of Vision Disorders and the Aging Population propels Optometry Equipment Market growth

According to the WHO, at least 2.2 billion people worldwide suffer from a vision impairment, of which nearly half are preventable or yet to be addressed. Conditions such as glaucoma, cataracts, and age-related macular degeneration are especially prevalent among the aging population. The global population aged 60 years and above is anticipated to double during 2050; in this regard, the requirement for advanced diagnostic and therapeutic optometry solutions will also increase substantially.

Over 3 million cases of glaucoma have been documented within the United States, and its prevalence is only bound to rise as the population ages. Recent public education initiatives, such as Glaucoma Awareness Month, should drive up the uptake of optical coherence tomography scanners and other diagnostic technologies. Such is the case with CIRRUS OCT devices marketed by Carl Zeiss; these are industry standards for retinal imaging and glaucoma diagnosis.

Common vision disorders affecting the aging population along with their statistics

• Age-related vision disorders are a problem for the aging population. Age-related macular degeneration affects 1.8 million people over the age of 40 in the U.S, and it is expected that this number will increase to reach 3 million by the year 2020 as reported by the American Academy of Ophthalmology, National Eye Institute. This condition presents with loss of vision inside the central field of vision as one of the leading causes of blindness in older adults.

• Another very common age-related condition is cataract that afflicts about 24 million in the U.S age group of 40 plus. And this number increases because of the aging population. It causes a condition where the lens of one's eye becomes cloudy thereby rendering vision blurred and eventually leading to total blindness if not treated.

• Diabetic retinopathy afflicts 7.7 million Americans aged 40 and older in the U.S., as revealed by the Centers for Disease Control and Prevention. In diabetic retinopathy, the disease affects the tiny blood vessels of the retina, eventually causing visions loss.

• Glaucoma, currently causing the loss of vision of 3 million Americans, is forecast to strike 4.2 million by 2040. It is considered as the leading cause of unilateral and irreversible blindness for an enormous number of victims as associated with increased pressure in the eye.

• Presbyopia is the condition that affects almost 114 million people in the United States who are 40 and above. It gradually loses the ability to focus on close objects. This is one of the common changes that happen in vision with age.

• Dry eye disease affects 16 million Americans, mostly older adults (American Academy of Ophthalmology, National Eye Institute). It causes irritation and discomfort in the eyes due to a lack of adequate tear production or poor-quality tears.

• Technology development in optometric Equipment fueled market growth.

Innovation in optometric technologies has transformed how care is delivered and fueled market growth. Devices, for example, fundus cameras and wavefront aberrometers in addition to handheld diagnostic machines have been more accurate to use and hence adopted faster by optometrists as well as ophthalmologists. The Company HAAG-STREIT Diagnostics brings to the market its latest Lenstar Myopia system helping manage myopia progression in young children, one of the most prevalent public health concerns.

The latest in the series is Canon's Xephilio OCT-S1 wide-field OCT scanner, which offers expansive retinal imaging capabilities to improve the accuracy of diagnosis. All of these innovations are supported by AI-powered systems that make diagnostics more efficient, particularly in high-volume clinics. With eye care professionals increasingly adopting these technologies, the market is poised for sustained growth.

Restraint

• One of the growth challenges for the market is related to the cost of very advanced optometry equipment, especially in low- and middle-income regions.

Products like OCT scanners, wavefront aberrometers, and advanced fundus cameras have hefty price tags, rendering them less affordable for small clinics and practitioners. The cost of a high-end OCT machine, for example, might range from USD 20,000 to USD150,000, depending on specifications and features. This financial barrier restricts access to more sophisticated diagnostic machines, especially in developing countries where the health infrastructure is limited and so are budgets. As indicated by an IAPB report dated 2023, an estimated 90% of visually impaired people live in poor regions of the world where modern care equipment for the eyes remains inaccessible.

The latest news related to these constraints is the initiatives like the Universal Eye Health strategy from WHO which plans to improve affordable access to eye care service delivery but practically hampered since its inception with high front-end equipment costs.

Optometry Equipment Market Segment Analysis

By Type

In 2023, the Retina and Glaucoma Examination Products segment dominated the market with a market share of 45%. Retinal disorders and glaucoma, which form some of the most common causes of blindness around the globe, are increasing their prevalence and thus market share for retina and glaucoma examination products. Sophisticated technologies such as optical coherence tomography and fundus cameras are now widely adopted to offer accurate diagnosis. IAPB estimates that over 76 million people are suffering from the disease, and this is expected to increase almost threefold to 112 million by 2040.

By Application

The general examination segment has dominated the market with a 40% market share. There has been an ever-present requirement for routine eye exams and the detection of any vision problems as early as possible. In addition to that, the use of autorefractors and phoropters added significantly to the segment's size. The world is becoming more conscious about eye health along with higher coverage of vision insurance adding to the increased demand for general examination equipment.

Glaucoma segment is one fast-growing segment, with worldwide prevalence increasing rapidly. Advanced and expensive tools like perimeters and OCT devices are showing high demand in early diagnosis and handling. Recent innovations like artificial intelligence-integrated glaucoma diagnostic systems have improved the exactness and efficiency of this tool, thereby fueling growth. For example, Heidelberg Engineering introduced spectral OCT systems with glaucoma modules that significantly reduced the detection rate.

By End User

The eye clinics segment dominated the market with a 50% market share as they specialize exclusively in optometric and ophthalmic care. They are preferred both for routine vision tests and for advanced diagnostic services such as glaucoma and retinal scans. The spread of stand-alone eye clinics in cities adds to access and thereby demand for high-end optometry equipment.

Hospitals are growing at the fastest pace, as they are incorporating advanced departments of ophthalmology with comprehensive care, including surgery and specialized treatments. Growth is also supported by mult-specialty care under one roof and great investments in healthcare in emerging markets.

Optometry Equipment Market Regional Analysis

North America dominated the market with a market share of 40% in 2023. taken the leading share of the optometry equipment market through its progressive healthcare infrastructure coupled with a high use rate of state-of-the-art diagnostic technologies and plentiful investment in ophthalmological studies. Other conditions, like AMD, cataracts, and lately even glaucoma, show a higher incidence rate within that region. The American Academy of Ophthalmology reported that 30.1 million adults in the United States suffer from cataracts, aged 40 and over, of which number the prevalence will increase with the aging population.

Asia Pacific holds the fastest CAGR throughout the forecast period in the optometry equipment market with an aging and populous population, awareness around health issues such as eye sicknesses, and development infrastructures for better health. With the rise of such visual disorders, demand for their diagnostics and treatment methods has rocketed. With the escalating disposable incomes and government schemes to control visual impairments, countries like China and India are prospering. For instance, China has adopted national policy measures aimed at eradicating child myopia, also popularized check-ups, and spread diagnostic tools. Another factor contributing to the rising number is the increased implementation levels of the technological advancement available in the region, with examples of AI-based diagnostic systems as well as portable optometry devices.

Key Market Players

• Carl Zeiss Meditec AG (ZEISS Visuscout 100, ZEISS OCT)

• Topcon Corporation (Topcon TRK-2P, Topcon Maestro 2)

• Haag-Streit Holding AG (Haag-Streit BQ 900, Haag-Streit OCT Spectralis)

• Nidek Co., Ltd. (Nidek ARK-1, Nidek OCT Triton)

• Huvitz Co., Ltd. (Huvitz HRK-8000A, Huvitz HLS-9000)

• Luneau Technology Group (Visionix VX 130, Visionix LX 900)

• Bausch & Lomb Incorporated (Bausch & Lomb Crystalens, Bausch & Lomb Stellaris)

• Escalon Medical Corp. (Escalon Accutome A-Scan, Escalon RetinaView)

• Keeler Ltd. (Keeler SL 400, Keeler Vantage LED)

• Reichert Technologies (Reichert Ocular Response Analyzer, Reichert Tono-Pen)

• Marco Ophthalmic (Marco TRS-5100, Marco Nidek OPD-Scan)

• Essilor International (Essilor Visioffice, Essilor Myopia Control Lenses)

• Canon Inc. (Canon CR-2, Canon TX-20)

• Novartis (Novartis Lucentis, Novartis Visudyne)

• Heidelberg Engineering (Heidelberg Spectralis OCT, Heidelberg HRA)

• Valent (Valent Hyperion, Valent Ocular Biometry)

• Sightsavers (Sightsavers Mobile Vision Van, Sightsavers Portable Ophthalmoscope)

• Epipole (Epipole epiCam, Epipole VDO Platform)

• Optovue (Optovue iScan, Optovue AngioVue)

• Vmax (Vmax Vision Analyzer, Vmax iScope)

Key suppliers

These suppliers play a critical role in providing high-quality components and systems used across optometry equipment products.

• Reichert Technologies Suppliers

• Nidek Co., Ltd. Suppliers

• Canon Inc. Suppliers

• Huvitz Co., Ltd. Suppliers

• Haag-Streit Holding AG Suppliers

• Optovue Suppliers

• Luneau Technology Group Suppliers

• Essilor International Suppliers

• Bausch & Lomb Incorporated Suppliers

• Sightsavers Suppliers

Recent Developments

• In October 2024, Carl Zeiss Meditec AG: ZEISS unveiled an expansion of its ophthalmic portfolio with the introduction of innovative digital AI tools and advanced surgical solutions designed to elevate patient care. This move underscores ZEISS's dedication to incorporating state-of-the-art technology into both optometry and ophthalmology, enhancing the precision and efficiency of eye care practices.

• In July 2024, Heidelberg Engineering: Heidelberg Engineering enhanced its leadership in imaging diagnostics by upgrading its Spectralis OCT platform. The new imaging features introduced will significantly improve the early detection of retinal diseases, reinforcing the company's commitment to advancing diagnostic capabilities in ophthalmology.