Portland, OR, Jan. 30, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global Equipment for optometry market was valued at USD 4.24 billion in 2021 and is expected to reach USD 7.81 billion by 2031, registering a CAGR of 6.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, most profitable strategies, drivers and opportunities, market size and valuations, competitive landscape and emerging market trends. Market research is a useful source of information for leaders, new entrants, investors and shareholders in strategizing for the future and strengthening their market position.
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Report coverage and details:
|Market size in 2021||$4.24 billion|
|Market Size in 2031||$7.81 billion|
|Number of pages in the report||286|
|Covered segments||Type, Application, End User and Region.|
|Drivers||Increasing prevalence of eye diseases and increasing elderly population|
|Increasing prevalence of diabetes|
|Limits||High cost of optometry equipment|
|Opportunities||Increasing the number of products launched by the market players|
Covid-19 scenario –
- The reduction in the number of refractive surgeries and the cancellation of non-emergency procedures during the pandemic had a negative impact on the global optometric equipment market.
- However, as the global situation has recovered, the market is now back on track due to increased demand for eye exams.
The global optometry equipment market is analyzed by type, application, end user, and region. The report contains a comprehensive analysis of the segments and their sub-segments with the help of tabular and graphical presentation. Investors and market participants can benefit from the breakdown and devise strategies based on the top revenue generating and fastest growing segments identified in the report.
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By type, the refractors segment had the largest share in 2021, garnering about one-fourth of the revenue of the global optometry equipment market, and is expected to maintain its dominance until 2031. The retinal cameras segment will also demonstrate the fastest CAGR of 8.0% during the forecast period.
By application, the Others segment contributed nearly one-fifth of the global optometric equipment market share in 2021 and is expected to rule by 2031. The glaucoma segment, on the other hand, will show the fastest CAGR of 7.1% throughout the forecast period.
In terms of end users, the hospital segment accounts for the highest share in 2021, generating almost half of the global optometry equipment market revenue. The same segment would also account for the fastest CAGR of 6.6% during the forecast period.
By region, North America held the major share in 2021, garnering more than one-third of the global optometric equipment market revenue. Simultaneously, Asia Pacific will demonstrate the fastest CAGR of 7.0% from 2022 to 2031.
Key market players analyzed in the global optometric equipment market report include Carl Zeiss AG., Essilor Luxottica, Topcon Corporation, NIDEK Co Ltd., Canon Inc., Heine Optotechnik, Revenio Group PLC., Oculus Inc., Halma Plc . and Kowa American Co… These market players have adopted several strategies including launch, product endorsement and acquisition to highlight their might in the industry. The report is helpful in formulating the business performance and development of the leading players.
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Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises, as well as medium and small businesses, with an unmatched quality of “Market research reports” and “Business Intelligence Solutions.” AMR has a single-minded view of providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relationship with various companies and this helps us to extract market data which helps us to generate accurate data tables from surveys and confirms extreme accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are derived through primary interviews with senior executives from leading companies in the respective domain. Our secondary data delivery methodology involves in-depth online and offline research and discussions with experienced industry professionals and analysts.