Global optometry equipment market is projected to witness a CAGR of 6.56% during the forecast period 2024-2031F, growing from USD 4.51 billion in 2023 to USD 7.5 billion in 2031F. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.
Optometry equipment and accessories are medical devices used by eye care professionals like ophthalmologists, opticians, and optometrists to diagnose, evaluate, and treat vision-related disorders in people. These diverse tools can assess visual activity, ocular health, refractive errors, and binocular vision functions. These devices are important for vision screening, diagnostic testing, and other eye examinations, helping professionals provide personalized treatment to their patients.
The prevalence of corneal illnesses, such as cataract, glaucoma, and retinal detachments, is rising due to geriatric populations, contributing to the rise in ophthalmoscope sales. The optometry equipment market is expected to grow rapidly due to the need for sophisticated technological equipment. The need for optometric equipment has increased due to the combination of AI and eye care technology. Additionally, the industry has seen the introduction of more compact designs which provide faster and more precise findings in addition to being helpful in the early detection of any disorders.
For instance, Carl Zeiss launched its trifocal technology in 2023. Their trifocal IOLs have asymmetrical light distribution, which ensures optimal visual performance at all distances, and their pupil-independent design enables better vision in low-light conditions. These IOLs are diffractive, hydrophobic, and acrylic and are C-looped, used for non-cataractous, presbyopic patients who wish to be independent of glasses.
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Technological Advancements Lead to Market Growth
Technological advancements in optometry have globally increased the adoption of portable examination devices for home-based diagnosis and treatment of eye disorders, contributing to the growing demand for advanced optometric equipment. Traditional manual refractors have been replaced by digital refraction systems, which provide more accurate and effective refraction measurements. These devices calculate the patient’s refractive error using sophisticated algorithms and digital screens, which enables faster and more precise prescriptions for glasses and contact lenses. A non-invasive imaging technique called optical coherence tomography (OCT) produces cross-sectional, high-resolution images of the interior structures of the eye.
Diagnosing and tracking problems such as diabetic retinopathy, macular degeneration, glaucoma, and retinal detachments are some of its common uses. OCT technological advancements have increased imaging resolution, speed, and depth penetration, allowing more accurate treatment, outcome tracking, and early disorder detection. Sophisticated algorithms are used by advanced perimetry equipment to identify minute variations in visual field abnormalities linked to diseases including glaucoma and neurological illnesses. High-resolution pictures of retina, optic nerve, and macula are obtained via fundus cameras. The diagnosis and follow-up of retinal diseases, including macular degeneration, diabetic retinopathy, and retinal vascular abnormalities, depend heavily on these images. Wide-field imaging capabilities, autofluorescence imaging, and real-time image processing for improved visualization of retinal pathology are some of the most recent developments in fundus camera technology. Systems for mapping the curvature and shape of the cornea are known as corneal topography systems, and they offer important data for refractive surgery planning, contact lens fitting, and diagnosis of corneal abnormalities.
High-resolution imagery and complex software algorithms are used by advanced corneal topography systems to produce precise and accurate three-dimensional maps of the cornea. Tele-optometry systems provide remote consultations, virtual screenings, and telemonitoring of patients’ eye health by utilizing digital technologies and telecommunication platforms.
These methods provide access to eye care, especially in isolated and underserved rural towns and places. To help with remote diagnosis and treatment planning, tele-optometry platforms may include capabilities such as digital retinal imaging, video conferencing, and interaction with electronic health information. Algorithms for machine learning and image analysis are being included into optometry equipment more and more to automate processes like illness diagnosis, treatment planning, and picture analysis. Large patient image databases can be analyzed by AI-powered diagnostic systems to find trends and forecast illness.
For instance, NIDEK CO., LTD. introduced MV-1 Myopia Viewer software along with AL-Scan M Optical Biometer in February 2023. Specifically designed to measure axial length, AL-Scan M is backed by scientific and clinical data and is a crucial indicator for monitoring and predicting the progression of myopia. Using their current auto refractometers, practitioners can easily incorporate myopia management into their operations by combining AL-Scan M and MV-1. With features such as 3D auto tracking and auto shot, AL-Scan M ensures easy handling and quick readings such as auto refractometers, which are necessary for screening small children and keeping patient flow smooth. Axial length measures are as accurate as the commonly used NIDEK AL-Scan for cataract surgery.