Albany, NY -- (SBWIRE) -- 09/23/2020 -- At present, the global optometry market is fragmented in nature on account of the presence of numerous players. To retain and grow their market shares in such a fragmented landscape, most players are seen competing with one another on the basis of better therapies and treatments. Some of the dominant players in the market have established a solid stronghold with their extensive geographical outreach and a diverse product portfolio.
Serving to stoke growth in the global optometry market is the ever-increasing elderly population who are highly susceptible to visual problems and rising instances of eye ailments on account of chronic health conditions such as diabetes. As a result, eye diseases, namely diabetic retinopathy, age-related macular degeneration, cataracts, and glaucoma are increasing by the day. Besides, the surging popularity of eye wear fashion and rising disposable incomes of people have also proved beneficial to the global optometry market.

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Global Optometry market Witness Most Promising Rise in Demand

Over the last couple of years in the industry of optometry or eye diagnosis, the surge in demand of the geriatric populace for routine eye check-up has led to a wide expansion of optometry services. With the increase in revenues, aided by the Affordable Care Act (ACA), the arena of pediatric eye care is witnessing a robust growth. Rise in medical insurance coverage will offer better access to cohesive eye exams for the elderly population.
Stoking the growth of the global optometry market is the ever-increasing geriatric populace, who are highly susceptible eye ailments and visual problems due to of chronic health conditions such as diabetes. As a result a number of eye diseases such as diabetic retinopathy, age-related macular degeneration, cataracts, and glaucoma are increasing each passing day. In the US alone, around 20.5 million patients are suffering from cataract and 7.6 million are suffering from diabetic retinopathy as per the American Association of Ophthalmology. Thus, the increasing prevalence of eye diseases and refractive errors has fueled the need for examination of the eye as well as eye care. Besides, the surging popularity of eye wear fashion and rising disposable incomes of people have also proved beneficial to the rise of the global optometry market.
A report by Transparency Market Research projects the global optometry market to rise at a lackluster CAGR of 4.1% from 2017 to 2025 to become worth US$79.871 bn by 2025 from US$55.974 bn in 2016.

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The global optometry market is a fragmented one, with most players striving to offer superior treatment and therapies which involve advanced technology. Players are showing keen interest in the attractive emerging markets of Asia Pacific. The increasing disposable incomes of the people in this region, as well as the burgeoning population growth is anticipated to make Asia Pacific a promising market and will see an increasing number of players expanding their bases to this region.

Key Players of Optometry Market Report:

This report on Optometry market profiles major players in the global Optometry market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
Some of the prominent participants in the global optometry market are Johnson & Johnson Vision Care, Inc., Pfizer, Inc., CooperVision, Allergan, Essilor, Valeant Pharmaceuticals International, Inc., and Novartis AG.