With age, humans become susceptible to acute and chronic diseases, disorders related to vision are among the most common ones. The increasing prevalence of vision problems such as short-sightedness, age-related macular degeneration (AMD), glaucoma, low vision, and other eye disorders is promoting the growth of the global phoropters market, predicts Fortune Business Insights in their new report. Phoropters are ophthalmic devices used for detecting accumulative posture or lags, vertical and horizontal vergences, and other refraction issues in the lens of the human eye.
A recent study by Fortune Business Insights, titled, “Phoropters Market Size, Share and Global Trend By Type (Manual, Digital), By End User (Hospitals, Speciality Clinics, Others), and Geography Forecast till 2026”, is available for sale on our website.
The report offers both a qualitative and quantitative review on the phoropters market, covering the most significant trends prevalent worldwide. It presents insights into the key growth drivers and restraints, with key trends influencing the market growth trajectory.
The report on phoropters market highlights some of the major market shareholders having a significant impact on the market. These companies are mentioned below:
- TOPCON CORPORATION
- NIDEK CO., LTD
- Carl Zeiss NV
- Reichert, Inc.
- Luneau Technology USA, Inc.
- Rocket Medical plc.
- US Ophthalmic
Long-Term Exposure to Electronic Gadgets Causes Strain in Eyes, Further Propels Market Growth
The rise in geriatric population and their vulnerability towards various eye disorders and diseases is a major factor promoting the growth of phoropters in the market. This, coupled with, the increasing number of refractive error cases are also anticipated to boost the global phoropters market in the forecast duration. Additionally, the surge in the number of incidence of strabismus or cross-eyes will also bring better phoropters market revenues in the near future.
With technological advancement and adoption of electronic devices on a wider scale, humans have become addicted to electronic gadgets. Long term exposure to such gadgets also causes strain to the eyes, and this also acts as an important factor contributing to the phoropters market growth.
On the flipside, the lack of skilled optometrists, especially in developing nations may hamper the market growth in near future. Additionally, high cost of installation of phoropters in eye care Centres and hospitals may also cause hindrance to the growth of the market in the forecast period.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
North America to Generate High Revenue with Increasing Cases of Near Sightedness
The American Optometric Association estimates about 30.0% of people in the U.S. are suffering from near-sightedness due to continuous exposure to electronic devices causing strain to the eyes. Such factors directly indicate the number of eye disorder cases in North America to be higher as compared to other regions.
Geographically, the phoropters market is anticipated to generate high revenue from North America, attributable to the increasing prevalence of refractive errors, aging population, and incidences of near-sightedness. In addition, the presence of better healthcare set-ups and eye care centers with updated technology and diagnostic measures is also anticipated to help this region continue dominating the global market in future.
Vendors are focusing on different marketing strategies to gain a competitive edge and stand out in the crowd. Such strategies include mergers and acquisitions, product launches, company collaborations, and others., Some of the recent innovations in the phoropters business include:
2017 – The launch of TS-310 Tabletop Refraction System by NIDEK CO., Ltd in August 2017. This unit consists of a triple-performance combination of reliable chart unit, sophisticated refractor, and operation-oriented control box.
2019 – An integrated solution for eye care professionals called Advanced Vision Accuracy (AVA) was launched by Essilor in March 2019.