Global Vision Screening and Diagnostics Market Size to Reach USD 760.5 Million in 2032 | Emergen Research
Increase in prevalence of eye related disorders is a key factor driving market revenue growth
Vancouver, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global vision screening and diagnostics market size was USD 541.8 Million in 2022 and is expected to register a revenue CAGR of 3.4% during the forecast period, according to latest analysis by Emergen Research. Increase in prevalence of eye related disorders is a key factor driving market revenue growth. According to the Center of Disease Control and Prevention (CDC), in the United States, around 12 million individuals aged 40 and above experience vision impairment. This includes 1 million with blindness, 3 million with visual impairment even after correction, and 8 million with vision impairment due to untreated refractive errors. In addition, according to the National Institute for Occupational Safety and Health (NIOSH), approximately 2,000 American workers sustain work-related eye injuries requiring medical attention each day.
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However, poor accessibility to eye care services in developing countries could limit market revenue growth. Limited availability and accessibility to eye care services in developing countries contribute to challenges in implementing effective vision screening programs. Poor accessibility means that many individuals in developing countries do not have access to routine eye exams or vision screenings. This results in a significant number of undiagnosed vision problems, including refractive errors and eye diseases.
*Scope of Research**Report Details* *Outcome*
Market Size in 2022 USD 541.8 Million
CAGR (2023–2032) 3.4%
Revenue Forecast To 2032 USD 760.5 Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product, technology, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Hill-Rom Holdings, Inc., FIM Medical, Oculus, Inc., Plusoptix GmbH, Stereo Optical Company Inc., Adaptica, Titmus, LLC, Amplivox ltd, Takagi Ophthalmic Instruments Europe Ltd, Keystone View, Essilor Instruments USA, and Depisteo
Customization Scope 10 hours of free customization and expert consultation
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*Major Companies and Competitive Landscape *
The global vision screening and diagnostics market is fragmented, with several medium and large-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new vision screening devices. Some major players included in the global vision screening and diagnostics market report are:
· Hill-Rom Holdings, Inc.
· FIM Medical
· Oculus, Inc.
· Plusoptix GmbH
· Stereo Optical Company Inc.
· Adaptica
· Titmus, LLC
· Amplivox Ltd.
· Takagi Ophthalmic Instruments Europe Ltd
· Keystone View
· Essilor Instruments USA
· Depisteo
*Strategic Development*
· On March 2023, Visionix introduced an enhanced version of its second-generation VX 650, featuring a new multimodal device upgrade. The VX 650, set to launch in 2021, is an advanced anterior segment analyzer that includes retinal imaging capabilities. The upgraded wavefront-based aberrometer now offers a ’quick mode‘ and additional capture options, which can reduce screening time by 50%, ultimately enhancing the product's efficiency.
· On December 2020, ZEISS unveiled a fresh vision screening system that relies on smartphones. The recently launched ZEISS vision screening is designed to cater to individuals who wear glasses as well as those who don't, and it can be carried out with the assistance of a smartphone. This online service offers rapid and complimentary initial assessments of visual acuity, whether conducted from the comfort of one's home or while on the move. For more comprehensive eye examinations, in-depth consultations, and evaluations to diagnose any health concerns, the expertise of an eye care specialist is required.
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*Some Key Highlights From the Report*
· Portable/handheld vision screeners segment accounted for significant revenue share in the global vision screening and diagnostics market in 2022. Portable and handheld vision screeners are user-friendly vision screening devices suitable for easy use within a facility. Compact and handheld vision screening tools are user-friendly devices designed for convenient usage within a facility. Popularity of these products is expected to increase in the future owing to user-friendliness feature of these screeners and minimal training needed for users.
· Vision screening tests segment is expected to account for largest revenue share during the forecast period. Vision screening tests are designed to identify potential vision problems such as refractive errors, amblyopia, strabismus, and early signs of eye conditions. Vision screening tests are often the first step in identifying visual conditions, and individuals failing these screenings may be referred for comprehensive eye examinations by eye care professionals.
· Vision screening and diagnostics market in North America is expected to account for largest revenue share over the forecast period. Increase in prevalence of eye related disorders such as diabetic retinopathy and vision impairment in the region is driving revenue growth of the market in this region. In addition, awareness towards eyecare and government regulations pertaining to vision screening also contributes to region's rapid market growth.
· In November 2020, Optomed introduced the Aurora IQ, a handheld fundus camera with Artificial Intelligence (AI) for speedier eye inspection. The camera has improved image quality and usability, and it smoothly integrates artificial intelligence for speedier image analysis, with the AI result shown on the camera screen in seconds. This is a crucial product for customers and partners as it speeds up the eye screening process and saves costs, improving global access to eye exams.
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*Emergen Research has segmented **the global vision screening and diagnostics market on the basis of product, technology, application, end-use, and region:*
· *Product Outlook (Revenue, USD Million; 2019-2032)*
· · Table-top Vision Screeners
· Portable/Handheld Vision Screeners
· Vision Screening Software
· *Technology Outlook (Revenue, USD Million; 2019-2032)*
· · Digital Vision Screeners
· Computer Based Vision Screeners
· *Application Outlook (Revenue, USD Million; 2019-2032)*
· · Vision Screening Tests
· Color Vision Test
· Binocular Testing
· Others
· *End-Use Outlook (Revenue, USD Million; 2019-2032)*
· · Hospitals
· Homecare Settings
· Specialized Clinics
· Rehabilitation Centers
· Ambulatory Surgical Centers
· *Regional Outlook (Revenue, USD Million; 2019–2032)*
· North America
· · U.S.
· Canada
· Mexico
· Europe
· · Germany
· France
· U.K.
· Italy
· Spain
· Benelux
· Rest of Europe
· Asia Pacific
· · China
· India
· Japan
· South Korea
· Rest of APAC
· Latin America
· · Brazil
· Rest of LATAM
· Middle East & Africa
· · Saudi Arabia
· UAE
· South Africa
· Turkey
· Rest of MEA
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