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Optometry Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023

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Optometry Market: Overview

Optometry is concerned with ocular health and correction of eye problems such as vision and visual systems that can hinder the vision capacity in humans. Optometrists carry out general eye exams and prescribe lenses or glasses to improve vision or any other visual complications. Optometrists treat individuals who have acquired eye diseases due to various medical conditions such as oral medications (antibiotics, steroids etc.), injectable medications and topical medications (eye drops to treat red eye or glaucoma). They are licensed to diagnose and treat various eye diseases through topical diagnostics and therapeutic drugs. Optometrists are also trained in surgical procedures such as removal of foreign particle from the eye, corneal injury, and eyelid and lacrimal disease.

In a few countries, patients requiring eye surgery are sometimes referred to other medical practitioners such as ophthalmologists and neurologists for further treatment. The scope of practice in optometry is regulated differently in each country and state. For instance, in Oklahoma, the optometrists are allowed to perform surgery limited only to the anterior segment of the eyes. On the other hand, in Kentucky, optometrists are allowed to perform a large number of laser procedures.

Optometry Market: Drivers and Trends

In the optometry industry, the demand is totally governed by changing healthcare practices, eye wear fashion trends and demographics. The wide usage of contact lenses and glasses due to various eye disorders is on the rise which is driving the growth of the optometry market. Contact lenses have few unique features such as accuracy and efficiency which is attracting the end users, thereby fueling the growth of the market. Furthermore, the increasing risk of developing various eye disorders such as cataract, glaucoma and refractive errors is also affecting the growth of the global optometry market. On the other hand, low patient compliance would most likely hinder the growth of the optometry market.

Optometry Market: Region-wise Outlook

Geographically, the optometry market can be segmented into four major segments: North America, Europe, Asia Pacific and Rest of the World (Row). Of all of these segments, North America currently boasts the largest share in the optometry market trailed by Europe. The prime factors which are driving the growth of the market in these regions are increase in the prevalence of eye disorders, rapidly increasing awareness programs by the government on technologically advanced therapies available for the treatment of eye problems, and increase in the adoption of ophthalmic drugs and devices.

According to Prevent Blindness America, vision problems due to diabetic retinopathy are on the rise presently. Asia Pacific is the most promising market for the growth of optometry market due to various developing and emerging economies. The factors that will help bring about the growth of the market in Asia Pacific are an increase in the geriatric population with a number of eye disorders, various recent developments and advancements in the field of optometry and constantly changing lifestyle of the population in developing regions. Furthermore, easy market penetration in countries such as China, Malaysia, Brazil and India; and increasing disposable incomes of the people would boost the growth of optometry market in the near future.

Optometry Market: Key Players

Currently, the market for optometry is fragmented with many players developing technologically advanced treatment and therapies. Some of the top companies operating in optometry market are Johnson and Johnson Vision Care, Inc., Allergan, Inc., Bausch and Lomb, Inc., F. Hoffmann-La Roche Ltd., Carl Zeiss, Inc., Hoya Corp and others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Value Chain

Regional analysis includes:

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern  Europe
  • Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Report highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


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