According to Meticulous Research®’s report titled “Optometry Equipment Market by Product (OCT Scan, Perimeter, Fundus Camera, Retinoscope, Keratometer, Ophthalmic Ultrasound, Tonometer, Slit Lamp, Chart Projector), Application (Cataract, Glaucoma, AMD), End User (Clinic, Hospital)—Global Forecast to 2029,” the optometry equipment market is expected to reach $5.40 billion by 2029, growing at a CAGR of 4.0% from 2022 to 2029.
Optometry equipment is essential for diagnosing and managing various eye disorders such as AMD, cataracts, diabetic retinopathy, glaucoma, and amblyopia & strabismus. The market growth is driven by the increasing prevalence of these conditions, especially among the aging population and those with chronic diseases like diabetic retinopathy. Rendia, Inc. (U.S.) reports that optometrists diagnose approximately 400,000 cases of diabetic retinopathy annually in the U.S.
Pandemic Impact
The COVID-19 pandemic severely impacted the optometry equipment market due to global lockdowns and supply chain disruptions. The reduction in eye examinations and postponement of non-urgent surgeries were notable consequences. Nevertheless, the pandemic spurred the adoption of telehealth and specialty optometric practices, and increased screen time has led to more cases of myopia.
As the market recovers from these disruptions, new opportunities are emerging. The Bureau of Labor Statistics anticipates a 9% increase in optometrist employment by 2031, reflecting a positive trend for the industry.