Ophthalmic Refractometer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Ophthalmic Refractometer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : January, 2023 | Medical Devices

Report Digest

Global Ophthalmic Refractometer Market – Overview

Ophthalmic refractometer is an equipment which is used for measuring lens strength and power, in order to provide patients with proper eyeglasses for correcting their vision. Common types of vision impairments in patients are myopia, hyperopia and astigmatism among others. Most of the eye problems arise from stress, unhealthy lifestyle, improper nutrition, underlying diseases, genetic disorders etc.

Global Ophthalmic Refractometer Market – Key Players

The competition in the global ophthalmic refractometer market is high. The companies in the market are constantly doing R&D activities to stay ahead of the competition. Some of the key players in the in the global ophthalmic refractometer market are Topcon Corporation, NIDEK CO., LTD., Birmingham Optical Group Ltd., EyeQue Corporation, Eye Care Leaders, LLC, Essilor International S.A., VIEWLIGHT LLC, Canon Inc., Takagi Ophthalmic Instruments Europe Ltd., Luneau Technology Operations SAS and Carl Zeiss AG

Global Ophthalmic Refractometer Market – Drivers and Restraints

There are multiple factors that are projected to drive the overall development of the global ophthalmic refractometer market. One of the key factors that is driving the market growth has been the increasing cases of diabetes among global population that leads to visual disorders. Diabetes can cause retinopathy, cataract, diabetic macular edema, glaucoma, and double vision in patients. Moreover, according to the same source, diabetic retinopathy is a common and leading cause of blindness in the diabetic population who are in the age group of 20 – 65 years. Furthermore, one in three people with diabetes develop diabetic retinopathy at some point in their life time. The occurrence of diabetic retinopathy can be prevented by following a healthy life style and taking the prescribed medication as required.

However, there are some factors that might impede the market growth in the coming years of the forecast period. One of the biggest inhibiting factor for the global ophthalmic refractometer market is the high cost of equipment. A single device is extremely high and such high costs are not affordable to small and medium hospitals. Thus this has become a key restraining factor for the market development.

Global Ophthalmic Refractometer Market – Geographical Outlook

Based on the geographical segmentation, there are five key regions of the global ophthalmic refractometer market. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global ophthalmic refractometer market is being dominated by the regional segment of North America. The region is expected to continue to dominate over the course of the given forecast period ranging from 2019 to 2027. The growth of the region is mainly attributed to the increasing prevalence of age-related macular degeneration among the population residing there. According to a recent study by American Academy of Ophthalmology, age-related macular degeneration or AMD is one the leading factors for increasing blindness in one or both the eyes among persons over the age of 50. As such there are more than 15 million people in the North America region who are susceptible to the disorder. Thus, with such growing number of patients, the ophthalmic refractometer market in the North America region is witness highly promising growth opportunities.

On the other hand, the regional segment of Asia Pacific is expected to witness a promising growth rate in the coming years of the forecast period. One of the key factors driving the market growth has been the increased spending by emerging economies for the development of their healthcare infrastructure.

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  • COVID-19 Impact

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The reports offer answers to the top 7 questions that revolve around the growth of the market

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  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?