Eye Testing Equipment Market Outlook by Device (Autorefractor and Phoropter, Optical Coherence Tomography Device, Fundus Camera, Perimetry Equipment, Tonometer, Biometer, Slit Lamp), Application (General Examination, Cataract, Glaucoma), End User (Hospitals and Eye Clinics, Ambulatory Surgical Centers, Optometry Academic Institutes) – Forecast to 2030

Market Overview

The global eye testing equipment market revenue stood at $2,852.2 million in 2021, and it is set to increase to $5,246.1 million by 2030, advancing at a CAGR of 7.0% during 2021–2030. This is ascribed to the rising prevalence of eye disorders, growing demand for eye examination and treatment in developed countries, and advancement in the technology of ophthalmic diagnostics.

North America held the largest market share in 2021, and the regional industry is also expected to grow at a steady pace in the coming years, due to the rising incidence of eye diseases. For instance, in 2021, around 3 million suffered from glaucoma, and this number will reach around 6 million by 2050.

Autorefractors and Phoropters Captured Majority of Industry Share

The autorefractor and phoropter category captured a more than 30% eye testing equipment market share, based on device, in 2021. This is attributed to the rising prevalence of myopia in children and adults, which is driving eyeglasses demand and the eye examination market. For instance, as per a government association, one in four children have a myopia condition. Autorefractors are used to detect refraction errors in the pediatric population in five minutes. Similarly, farsightedness, nearsightedness, and astigmatism are all addressed by phoropter equipment.

Moreover, uncorrected refractive error (URE) is a major public health concern and one of the most-common visual anomalies across all age groups, as well as the world's second-leading cause of treatable blindness. Advanced autorefractors and phoropters help decrease URE incidence, which will enhance the market growth potential.

The optical coherence tomography (OCT) device category is expected to witness the fastest growth over the forecast period, as OCT is a non-invasive imaging technique used to conduct an optical biopsy. Additionally, the technique is more beneficial than traditional ones, and the device used for it is compact and portable.

Moreover, fundus cameras held the third-largest market share in 2021, because people who suffer from diabetes mellitus need regular fundus screening. Patients with diabetes mellitus demand eye screening once every six months or once a year, as they are highly susceptible to diabetic retinopathy, cataracts, diabetic macular edema, and glaucoma.

Prevalence of Glaucoma Is Growing at Highest Pace

Glaucoma is expected to witness the fastest growth, at a CAGR of 8.0%, during 2021–2030, as this eye disorder is highly prevalent. In 2020, around 78 million people suffered from glaucoma, and this number is projected to be around 110 million by 2040. OCT and tonometry help diagnose glaucoma, which is why the rising incidence of this disease will drive the demand for OCT devices and tonometers.

Hospitals and Eye Clinics Captured Major Market Share

Based on end user, hospitals and eye clinics are the largest category in the eye testing equipment market share in 2021, as these medical facilities are preferred by people with eye issues. Often, in emerging economies, hospitals and eye clinics are the sole facilities for performing eye treatment and diagnosis procedures. Moreover, the rising disposable income, improving healthcare infrastructure, and increasing knowledge and awareness about eye treatments across the world are the key factors driving the market.

Furthermore, optometry academic institutes held more than 15% share in the market, as several optometry academic institutes conduct general eye testing programs at various educational institutions and government campuses. Programs such as single-day vision testing in rural and urban areas are increasing the demand for eye testing equipment.

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Regional Insights

North America had the largest market revenue share, of around 35%, in 2021. This is because of the widespread usage of advanced products in eye care services, as well as the high spending on this aspect of human health. In this regard, the rising geriatric population and increasing awareness on eye care are expected to drive the market growth during the forecast period.

Moreover, in the U.S., the rising prevalence of eye disorders, as well as the surging expenditure on pre-check-ups and regular eye examinations, are driving the market growth. For instance, in 2021, as per a survey, around 65% of the adults in the U.S. suffered from at least one eye problem, including cataracts, glaucoma, and diabetic retinopathy, all of which are key complications of diabetes. Hence, the rising prevalence of this endocrinological disorder is propelling the country’s market growth.

Furthermore, in Europe, the major eye testing equipment market size is captured by Germany due to the advanced ophthalmological products and services available here and the rising expenditure on eye care. Additionally, in 2020, around 0.3 million were registered as being blind in the country; hence, the increasing prevalence of vision loss in Germany is fueling the market growth.

APAC captured the second-largest market share in 2021, and its industry will grow with a healthy CAGR during 2021–2030. This will be because of the growing number of people with vision loss, which will pose a significant challenge to eye care service providers, prompting them to procure advanced equipment for diagnosis. In essence, the increasing incidence of moderate-to-severe visual impairment and myopia drives the market.

China held the largest market share in the region in 2021 because a third of the world’s blind population lives here. For about half of them, the key cause is cataract; thus, the rapidly increasing burden of cataract, apart from that of glaucoma, in the country will boost the demand for eye care equipment.

Market Players’ Recent Strategic Activities

Key players in the eye testing equipment industry have been actively launching new products in order to enhance their portfolios and achieve a larger market share. For instance:

In July 2021, Canon Inc. announced the launch of the advanced Xephilio OCT-S1 OCT solution, which is capable of capturing high-resolution images of up to 23×20 mm in a single scan. This device provides wide-angle OCT angiography and AI noise reduction processing.

Top Players in Eye Testing Equipment Market Are:

• Carl Zeiss AG
• Topcon Positioning Systems Inc. 
• NIDEK CO. LTD.
• Canon Inc.
• Haag-Streit Holding AG
• HEINE Optotechnik GmbH & Co. KG
• Bausch + Lomb Corporation
• Alcon Vision LLC
• ESSILOR INTERNATIONAL SAS

Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Device

• Autorefractor and Phoropter
• Optical Coherence Tomography Device
• Fundus Camera
• Perimetry Equipment
• Tonometer
• Biometer
• Slit Lamp

Based on Application

• General Examination
• Cataract
• Glaucoma

Based on End User

• Hospitals and Eye Clinics
• Ambulatory Surgical Centers
• Optometry Academic Institutes

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa