Market Size of Phoropters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.10 % |
| 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?
Phoropters Market Analysis
The phoropters market studied is anticipated to witness a CAGR of nearly 4.1% during the forecast period.
The COVID-19 pandemic had a significant impact on the market. Ophthalmic procedures were postponed at the beginning of the pandemic as the hospitals and surgeons were advised to postpone or cancel elective procedures. For instance, according to a study published by the National Library of Medicine, in March 2021, outpatient clinic appointments were reduced by 87.2%, ophthalmic surgery by 90.9%, outpatient referrals to ophthalmology by 50.2%, and ward reviews by 50% during the first peak of the pandemic. There were 1,377 canceled appointments, with 6.8% of them deemed appropriate for teleophthalmology. Another study published by BMC Ophthalmology in May 2021 found that during the COVID-19 health emergency, retina clinic volume fell by 62%. The average time from check-in to technician has decreased by 79%, total visit length has decreased by 46%, and time spent in the provider phase of care has decreased by 53%. Thus, the COVID-19 pandemic severely curtailed ophthalmology services, thereby impacting the market growth rate in its initial phase. However, the market is witnessing stabilized growth currently owing to the resumption of ophthalmology procedures worldwide and is expected to project a similar trend over the coming years, as per the analysis.
Factors such as the growing prevalence and recurrence of eye disorders and technological advancements are expected to drive the growth of the market over the forecast period. For instance, according to WHO statistics from 2021, at least 2.2 billion individuals worldwide have near or farsighted vision impairment. Vision impairment may have been avoided or managed in at least 1 billion, or nearly half of these cases. The majority of those who have vision impairment or blindness are over 50 years old. Thus, such statistics suggest the increasing need for vision correction devices and thus are expected to drive the growth of the market.
Furthermore, technological advancement is expected to drive the growth of the market over the forecast period. For instance, according to an article published by Healthtech zone in December 2022, the Advanced Phoropter is an improvement on this traditional device. It uses laser technology to project text onto a screen in front of the patient's face, allowing him or her to read it without having it printed on paper beforehand. This allows the doctor to make adjustments more quickly than with traditional phoropters, improving patient experience and saving valuable time overall. Thus, such advancement is expected to drive the growth of the market.
Therefore, the factors mentioned above are attributed collectively to the studied market growth over the forecast period. However, high installation costs and a lack of skilled optometrists are expected to hinder market growth over the forecast period.
