Ophthalmologists now have new opportunities for the eye examination market expansion due to the growing demand for machine learning in ophthalmology for handling fundus photography, slit lamp imaging, and optical coherence tomography (OCT)
Due to the lack of knowledge and access to eye healthcare services, 90% of people with visual impairments reside in low- and middle-income nations. 90% of cases of vision impairment can be avoided or treated. Vision is only one aspect of eye health and eye conditions. It has an impact on all life stages, from childhood to adulthood. To maintain general eye health among people, promotional, preventive, and rehabilitative intervention is necessary.
Cataract, glaucoma, uncorrected refractive error, macular degeneration, and diabetic retinopathy are some of the most common eye conditions. These disorders are becoming more prevalent globally, influencing peoples' physical and financial conditions. The prevalence of blindness has decreased by 28.5% worldwide over the past three decades.
Digital medical imaging allows for high-resolution eye problem screening. Digitalization and 3D medical imaging technologies can easily provide high-resolution information about eye function and problems. A greater understanding of technological capabilities to analyze and use AI beneficially has been made possible in recent years, thanks to the high demand for AI in ophthalmology. Ophthalmologists now have new opportunities for market expansion due to the growing demand for machine learning in ophthalmology for handling fundus photography, slit lamp imaging, and optical coherence tomography (OCT).
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The most important aspect of eye care services is eye diagnosis. There are frequently new developments in eye examination technology available on the market. Market players develop new devices that offer chances for eye examination and market expansion each year. Due to governmental mandated restrictions, the rate of eye examinations significantly decreased during the COVID-19 pandemic. A smartphone-based slit lamp was introduced to the market to solve this problem. An essential piece of ophthalmology equipment for an eye examination is the slit lamp. The eye examination market underwent a significant change thanks to assisted slit lamp models powered by smartphones.
The global eye testing equipment market is highly competitive. Therefore, manufacturers are recommended to focus on promotional and awareness activities. These factors push the revenue growth of the company in the targeted markets. Key vendors can focus on ophthalmology centers and government eye care programs where the sale of their products can easily increase. Also, key players can implement new strategies, such as collaboration with government activities and vision programs, in developing countries with major targeted populations.
Read our latest report: Eye Testing Equipment Market - Global Outlook & Forecast 2022-2027
COMPANIES INVOLVED IN THE EYE EXAMINATION MARKET
Carl Zeiss Meditec: The company has a broad and diversified product portfolio with a growing share of recurring revenue-generating advanced products. Carl has higher market revenue from the ophthalmic devices business segment in which the company offers eye test equipment. Around 74% of total market revenue is generated from this segment. The company delivers the most advanced and comprehensive eye diagnostic products across the globe in eye care. These are the gold standard systems and solutions that give rapid and excellent results.
Takagi Seiko: The company offers advanced & innovative products that make a difference in ophthalmic practices. It has a significant brand image in ophthalmology equipment manufacturing with world-class technology.
Metall Zug: The company's sales of medical devices increased by 4% from 2019 to 2020 despite the pandemic. The company has around 65 independent distributors increasing its revenue year-on-year. New products launched by the company, Lenstar 900 and Eyestar 900, will offer great leverage in the market. The acquisition of VR magic for training will give significant market opportunities for market growth.
Topcon: Topcon is one of the leading market players in the eye testing equipment market. The company is engaged in the manufacturing of eye testing equipment such as optical coherence tomography, perimeters, biometer, slit lamps, and fundus cameras. The company delivers the best quality products by designing them as per the needs of eye specialists and ophthalmologists.
Nidek: In March 2021, the company launched RT-6100 CB software for RT 6100 intelligent refractor and TS 610 Tabltop systems. Nidek is a leading market player in Japan and the global market. The company delivers its products in more than 100 countries.
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