The size of the Europe Eye Exam Equipment market is estimated to be worth USD 0.92 billion by 2027 from USD 0.69 billion in 2022, growing at a CAGR of 5.97% during the forecast period.
Y-O-Y growth in the prevalence of eye diseases, initiatives taken by the government to control visual impairment, and technological advancements in eye exam equipment are majorly fuelling the market growth in Europe. Also, the growing geriatric population is more prone to various eye-related diseases; therefore, the growing geriatric population in Europe is projected to propel market growth.
The other factors, such as increasing awareness about eye healthcare and increasing healthcare expenditure, boost market growth during the forecast period. In addition, the major countries in Europe, such as the UK, Germany, France, Spain, and Italy, have witnessed significant healthcare infrastructure and availability of advanced healthcare services, which is significantly influencing the market growth.
Moreover, the competitive companies in the region deal with Mergers, Acquisitions, Partnerships, and so on, along with the expansion areas focusing on the additional geographies. The proliferation of ophthalmic disorders, diabetic retinopathy, glaucoma, and AMD are the other factors that largely contribute to regional market growth.
Furthermore, leading market players are adopting strategies to enhance better market growth, such as developing novel product lines and a focus on partnerships and acquisitions to improve their market share in the market.
However, the rising popularity of reconditioned eye test equipment and the high cost of eye exam equipment may limit the market's growth. In addition, lack of knowledge in rural areas and limited access to eye care in low-income nations can hinder the optometry/eye equipment market's growth in Europe.
This research report on the European Eye Exam Equipment Market has been segmented and sub-segmented into the following categories:
By Type:
By End User:
By Country:
Geographically, the European market was the second-largest regional market in the global eye exam equipment market in 2020 and forecasted to account for a substantial share in the global market during the forecast period. The market held the largest share during the previous year. Greater adoption of ophthalmology practices and convenience and accessibility of technologically advanced eye exam equipment contribute to market growth. Also, the incidence of glaucoma is expected to increase further across Europe. Glaucoma symptoms are more evident than cataracts; however, the rise in awareness regarding the effective diagnosis and treatment of cataracts has contributed to the highest CAGR recorded in the European regional market throughout the forecast period. Countries such as Germany, UK, France, and Italy are significantly contributing to this regional market to retain the reputation of the second-largest regional market in the global market.
The German Eye Exam Equipment market dominated the European Eye Exam Equipment Market in the recent past and is most likely to continue its dominance during the forecast period. Growing investments by governments and other private organizations to address significant unmet requirements in the healthcare sector in the region is likely to spur the growth of the market.
The United Kingdom is one of the promising countries in Europe, having a significant market share in eye exam equipment. Evolving the healthcare sector, increasing healthcare spending, and government initiatives are uplifting the market growth.
KEY MARKET PLAYERS:
A few notable companies operating in the European Eye Exam Equipment market profiled in this report are Carl Zeiss, Haag-Streit, Topcon, NIDEK, Heidelberg Engineering, Escalon, Novartis, Valent, Canon, and Luneau Technology.
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