In 2021, the global eye testing equipment market recorded revenues of $2,852.2 million. By 2030, it is expected to reach $5,246.1 million, growing at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2030. This expansion is primarily driven by the increasing prevalence of eye disorders, particularly in emerging economies, which has led to a surge in demand for eye treatments and diagnostic tools, along with advancements in ophthalmic technology.
The autorefractor and phoropter segment alone accounted for 30% of the market's revenue, propelled by the rising cases of myopia among both adults and children. These devices play a crucial role in eye exams, with autorefractors detecting refractive errors in children in just five minutes. Phoropters help diagnose conditions like nearsightedness, farsightedness, and astigmatism. Myopia affects one in four children, further boosting the need for eye exams and prescription glasses.
Among devices, the OCT (optical coherence tomography) category is expected to dominate sales due to its non-invasive imaging technique, which allows for optical biopsies. Its compact and portable design gives it an edge over conventional diagnostic tools. Similarly, fundus cameras hold a substantial market share, as they are vital in screening diabetic patients who are at risk for complications such as diabetic cataracts, retinopathy, glaucoma, and macular edema.
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The rising prevalence of glaucoma is set to drive market growth, with an expected sales increase of 8.0% in the near future. In 2020, there were about 78 million glaucoma patients globally, a number projected to rise to 110 million by 2040. Devices like tonometers and OCT systems are crucial in diagnosing glaucoma, making them integral to the future growth of the eye testing equipment market.
Hospitals and eye clinics capture a significant portion of the market due to their widespread use for eye treatments and diagnostics, particularly in developing countries where people rely on these facilities for care. Additionally, increased disposable income, growing awareness of eye care, and improvements in healthcare infrastructure are key factors driving the market.
North America leads the global market with a 35% share, driven by the high adoption of advanced eye care products and rising health expenditures. The growing elderly population and increasing awareness of eye care also contribute to the market’s growth in this region. By 2050, the number of glaucoma patients in North America is expected to double from 3 million to 6 million, further boosting the demand for eye care services.
In conclusion, the increasing prevalence of glaucoma and the growing awareness of eye care treatments are major factors propelling the eye testing equipment market.
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