With age humans become susceptible to acute and chronic diseases, vision-related disorders are among the most common. Rising prevalence of vision problems such as myopia, age-related macular degeneration (AMD), glaucoma, low vision, and other eye disorders are promoting the growth of the global phoropters market, predicts Fortune Business Insights in his new report. Phoropters are ophthalmic devices used to detect cumulative posture or shifts, vertical and horizontal vergences, and other refractive issues in the lens of the human eye.
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The report offers both qualitative and quantitative review of the Refractors market, covering the most significant trends prevailing around the world. It presents information on the main growth drivers and restraints, the main trends influencing the growth trajectory of the market.
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The Phoropters Market report highlights some of the major market shareholders having significant impact on the market. These companies are mentioned below:
- TOPCON CORPORATION
- NIDEK CO., LTD
- Carl Zeiss SA
- Reichert, Inc.
- Luneau Technology USA, Inc.
- Rocket Medical plc.
- US Ophthalmic
Long term exposure to electronic gadgets causes eye strain and further propels market growth
The increase in the geriatric population and its vulnerability to various eye disorders and diseases is a major factor promoting the growth of phoropters in the market. This together with the increasing number of refractive error cases is also expected to boost the global refractor market in the anticipated duration. Moreover, increasing the number of incidences of strabismus or crossed eyes will also bring better revenue in the refractor market in the near future.
With advancements in technology and the adoption of electronic devices on a larger scale, humans have become addicted to electronic gadgets. Long term exposure to such gadgets also causes eye strain which is also a major factor contributing to the growth of the refractor market.
On the other hand, the lack of qualified optometrists, especially in developing countries, could hamper the growth of the market in the near future. In addition, the high cost of installing phoropters in eye care centers and hospitals may also hamper the growth of the market during the forecast period.
An overview of the impact of COVID-19 on this market:
The emergence of COVID-19 has crippled the world. We understand that this health crisis has had an unprecedented impact on businesses in all sectors. However, that too will pass. Growing support from governments and several companies can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, almost all sectors are expected to be affected by the pandemic.
We are making ongoing 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 the coronavirus epidemic in all sectors to help you prepare for the future.
North America to Generate High Income with Increase in Myopia Cases
The American Optometric Association estimates that approximately 30.0% of people in the United States suffer from nearsightedness due to continued exposure to electronic devices that cause eye strain. Such factors directly indicate that the number of cases of eye disorders in North America is higher than in other regions.
Geographically, the refractors market is expected to generate high revenue in North America, owing to the increasing prevalence of refractive errors, aging population, and incidences of myopia. Besides, the presence of better healthcare facilities and eye care centers with up-to-date diagnostic technology and metrics is also expected to help this region to continue to dominate the global market in the future.
Suppliers focus on different marketing strategies to gain competitive advantage and stand out. These strategies include mergers and acquisitions, product launches, company collaborations and others. Some of the recent innovations in the refractor industry include:
2017 – The introduction of the TS-310 tabletop refraction system by NIDEK CO., Ltd in August 2017. This unit consists of a triple performance combination of a reliable graphics unit, a sophisticated refractor and a housing of operation oriented control.
2019 – An integrated solution for eyecare professionals called Advanced Vision Accuracy (AVA) was launched by Essilor in March 2019.
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