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Vision Screeners Market is expected to grow at a CAGR of 5.9% during the forecast period 2022-2029 to reach US$ 815.2 Mn: FMI

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Vision Screeners Market – Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates:  Global vision screener sales are likely to near US$ 500 Mn by the end of 2022. According to a new research intelligence study presented by Future Market Insights (FMI), the Vision Screeners Market will continue to witness an average 5.5% Y-o-Y growth in the revenues in 2022 and ahead. As reported by the study, more than a third of overall sales of vision screeners is targeted to a variety of vision screening tests, followed by color vision tests.

While portable or handheld vision screening devices have been sought after over the years, it is more likely that the vision screening software will experience rapid gains in coming years, as a result of brisk technological penetration. Moreover, as key manufacturers are investing considerable efforts in technological innovations of vision screeners, table-top variants are also likely to see healthy sales growth in the near future. Currently, more than 50% of the total sales are accounted by portable or handheld devices that are used during vision screening procedures, as per the report.

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Attribute Details
Market Size Value in 2022 US$ 579.2 Mn
Market Size Value in 2029 US$ 815.2 Mn
Historical CAGR (2016-2021) 4.8%
CAGR (2022-2029) 5.9%

The rising prevalence of vision problems, advancements in technology, increasing healthcare spending, and the growing prevalence of diabetes constitute some of the key factors responsible for driving the global vision screeners market revenues.

In addition to some of the most commonplace vision disorders, newly establishing problems such as digital eye strain (more popularly, computer vision syndrome) are strongly necessitating the demand for efficient vision screening tests, particularly among the younger population. This, according to FMI’s analysis, will drive sales of vision screeners in the forthcoming years.

Inadequate Effectiveness of Vision Screening Tests Prevails in Developing Asian Markets

Accounting for a collective value share of over 60%, North America and Europe will continue to lead the pack in global vision screeners market. In addition to early adoption of advanced technologies and high awareness about vision problems and the significance of vision screening, the growth of market in these regions has been prominently attributed to the rapid consolidation of healthcare facilities within these regions.

On the other hand, dearth of skilled and trained professionals in the field of vision screening will remain the prime factor restraining vision screeners adoption across developing Asian countries. Relatively lesser competency to professionally and accurately assess vision screening results continues to pose significant barriers in the growth path of market within Asia Pacific (APAC).

According to the report, a sizeable number of vision screening tests cannot be performed on children who have reading problems such as hyperopia or astigmatism. As a result, the ineffectiveness of vision screeners continues to negatively influence the number of parents opting for pediatric vision screening tests, which is further a significant factor deterring the revenues of vision screeners market in APAC.

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Scope of Report

Attribute Details
Forecast Period 2022-2029
Historical Data Available for 2016-2021
Market Analysis US$ Mn for Value
Key Regions Covered North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA
Key Countries Covered United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Market Segments Covered Product, Technology, Application, End User, and Region
Key Companies Profiled
  • Hill-Rom Holdings, Inc. (Welch Allyn).,
  • Essilor International S.A. (Stereo Optical Company Inc
  • Adaptica S.r.l.
  • OCULUS Surgical, Inc.
  • Plusoptix Inc.
  • Honeywell International Inc.
  • FIM Medical SAS
  • SHANGHAI TOP VIEW INDUSTRIAL CO., LTD.
  • Thomson Screening Solutions Ltd.
  • Keystone View.

Pediatric Vision Screening Emerging as a Prime Focus Area for Innovations

Some of the key players competing in the global vision screeners market landscape include Hill-Rom Holdings, Inc. (Welch Allyn), Essilor International S.A. (Stereo Optical Company Inc.), Adaptica S.r.l., OCULUS Surgical, Inc., Plusoptix Inc., Honeywell International Inc., FIM Medical SAS, SHANGHAI TOP VIEW INDUSTRIAL CO., LTD., Thomson Screening Solutions Ltd., and Keystone View. While a majority of these companies are concentrating in technological upgrades of the current offerings, augmented investments targeting FDA approvals will be an important strategy.

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Moreover, multiple longstanding challenges prevailing in children’s vision screening are highly likely to push the scope for innovations, which would help overcome the challenges and extend the efficiency of vision screening – specifically for children. The FMI study reveals how the companies that are manufacturing, supplying, and distributing vision screeners are strategizing on the growing traction in the pediatric patients segment.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Report: https://www.futuremarketinsights.com/reports/vision-screeners-market

Press Release Source: https://www.futuremarketinsights.com/press-release/vision-screeners-market

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