Market Size of Synoptophore Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Synoptophore Market Analysis
The synoptophore market is projected to register a CAGR of around 4% during the forecast period.
The COVID-19 pandemic caused healthcare services to reduce eye care activities, as examination procedures in ophthalmology involve close interactions with the patients, which increases the risk of infection. The American Academy of Ophthalmology (AAO recommended ophthalmologists halt non-emergency care. According to a 2021 membership survey of 416 members conducted by the AAPOS, devastating and potential impacts were observed on pediatric ophthalmology practices during the COVID-19 pandemic. Children could not get proper treatment at the right time due to restrictions on non-essential visits to eye clinics, which hampered the overall market.
The growth of the studied market can be largely attributed to the increasing incidences of visual acuity disorders, growing awareness about the early diagnosis of visual acuity disorders, and the rising demand for non-invasive processes.
Increasing incidences of visual acuity disorders contribute to the rising demand for synoptophore. Risk factors, such as stroke and traumatic head injury, associated with visual acuity disorders also increased over time. Synoptophore devices are considered reliable for the correction of such disorders. As per the 2021 statistics by the National Eye Institute (NEI), around 5% to 16% of people suffer from convergence insufficiency (CI) disorder. The young and adult population is more prone to visual acuity disorders, which augments the growth of the market studied.
Growing awareness about the early diagnosis of acuity disorders is anticipated to fuel market growth. Several orthoptic associations encourage the early diagnosis of acuity disorders, which fuels the demand for synoptophore devices. As per a 2021 article by the International Orthoptic Association (IOA), the Brazilian Orthoptic Association determines the first Monday in June as the 'World Orthoptic Day.' According to the International Agency for the Prevention of Blindness (IAPB), World Sight Day (WSD) is an annual day of awareness held to focus global attention on blindness and vision impairment. Such initiatives increase the early diagnosis of visual acuity disorders, thereby propelling the demand for synoptophore.
However, the high cost of synoptophore devices and access to alternatives for treating visual acuity disorders are some factors impeding the market growth.
