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 : May, 2021 | 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?