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% during the forecast period. Increasing prevalence of eye-related disorders is anticipated to drive the demand for advanced ophthalmic treatment procedures over the forecast period.
Growing
global geriatric population is another factor propelling the optometry/eye
examination equipment market. According to U.S. Census Bureau published on June
2017, the total population aged 65 and older in the U.S. increased to 49.2
million in 2016, accounting for 15.2% of the total population, from 35 million
in 2000, which represented only 12.0% 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.
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Eye Examination Equipment Market Report Highlights
- 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 over the forecast period
- 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 during the forecast period 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, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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