Phoropters Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Phoropters Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Phoropters Market

The phoropters market size was valued at USD 140.3 billion in 2023, and the market is now projected to grow from USD 147.2 billion in 2024 to USD 198.7 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period of 2024-2032.

Pandemic negatively impacted the marketplace because of delivery chain disruptions, tour bans, import and export troubles, lockdowns, and a lack of professional specialists. These disruptions affected the supply and demand of eye care gadgets, especially ophthalmologists, who face a better hazard of comorbidities due to elective surgical tactics. In India, the authorities introduced a national lockdown, main to Arvind Eye Care System closing its vision facilities and halting non-compulsory surgical operation offerings. However, the ease of COVID-19 regulations supported phoropters market growth, and the marketplace saw superb growth in 2021, with Topcon Corporation reporting a 29.6% yr-on-yr increase in the attention care enterprise section.

The growing call for eye care is riding the adoption of refraction structures. The growing healthcare expenditure and government projects are using the patient population to go through eye disorder analysis. The growing quantity of optometrists and ophthalmologists is riding the demand for eye care services, leading to market increase. The over-65 age organization in the US is expected to account for 21% with the aid of 2030 and 23% by 2060. The growing geriatric populace and cognizance about recurring eye assessments are increasing the patient pool for refractive disorders. The demand for ophthalmic diagnostic gadgets is likewise growing because of the growing range of senior residents in the US, who use about ten instances as a great deal ophthalmic care as younger patients.

The international phoropter market is ruled with the aid of the use of advanced refraction systems by using eye care specialists, especially in developed nations. Some industry players provide computerized gadgets that integrate laser generation, electronic fitness records, and communique interfaces, reducing manual work and time spent on processes. This permits docs to cater to more sufferers in a shorter time, decreasing physical exertion. The Phoropter VRx Digital Refraction System, for instance, is an automatic device that gives fast lens exchanges, break up cylinder lenses, motorized prisms, and smooth-to-research pre-software exams. This integration reduces the workload of eye care specialists.

Comprehensive Analysis of Phoropters Market

The global market for ophthalmic testing devices is divided into manual and automated segments. The automated segment, which dominated in 2022, is driven by its ease of use, reduced prescription time, and accuracy, leading to increased demand for refractive corrections. The manual segment has a minimal share due to the cost of installation and limited budgets of small hospitals, clinics, and optometrists. The market is segmented into hospitals, ophthalmic clinics, and others. Ophthalmic clinics hold a dominant share, with private clinics in developed and developing countries increasing their presence. The growth of hospitals is due to the increasing prevalence of refractive errors and other ocular diseases, leading to increased government authorities increasing the number of ophthalmologist consultants. The mobile optometric services, care facilities, and optician stores segment has a lower CAGR due to budget constraints.

The North America region lead the phoropters market share by benefitting a market size of USD 57.7 billion in 2023 due to growing prevalence of refractive errors amongst the overall population. Long-term computer screen use has brought about accelerated demand for recurring refractive vision care, growing possibilities for new optometrists and optical chains to extend their presence. The American Academy of Ophthalmology suggested that as a minimum 60% of American men and 65.0% of American women have pc vision syndrome, additionally known as digital eye pressure.

The global ophthalmic care market is fragmented due to the presence of mid-size domestic players. Major players like Reichert, NIDEK, Essilor, and ZEISS have established their presence by expanding their product presence in various countries through strategic alliances. Other players include Topcon Corporation, Visionix, Rexxam, Xenon Ophthalmics Inc., US Ophthalmic, S40PTlKK, Adaptica, Huvitz, and Advancing Eyecare. These companies are focusing on upscaling production capacities and expanding their product presence through strategic collaborations

In February 2023, NIDEK CO., LTD. partnered with HOYA Vision Care, a prominent developer of advanced optical products.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 4.4% from 2023 to 2030

Unit Value (USD million)

Segmentation By Product Type

Manual

Automated

By End User

Hospitals

Ophthalmic Clinics

Others

By Region

North America (By Product Type, By End User, and By Country)

U.S.

Canada

Europe (By Product Type, By End User, and By Country/Sub-Region)

U.K.

Germany

France

Italy

Spain

Scandinavia

Rest of Europe

Asia Pacific (By Product Type, By End User, and By Country/ Sub-Region)

Japan

China

India

Australia

Southeast Asia

Rest of Asia Pacific

Rest of the World (By Product Type and By End User)

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