Retinoscopes Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.5 Billion |
| Market Size (2029) | USD 5.70 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Retinoscopes Market Analysis
The Retinoscopes Market size is estimated at USD 4.5 billion in 2024, and is expected to reach USD 5.70 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
A retinoscope is a medical device used to test refractive abnormalities in a patient's eye. The demand for retinoscopes is rising as refractive errors are becoming more common. The increasing incidence of hyperopia, myopia, astigmatism, and other visual impairments is one of the significant factors influencing the market's growth.
- According to WHO's August 2023 update, around 2.2 billion people are suffering from near or distant vision impairment globally. In addition, as per the article published by the National Library of Medicine in December 2021, the prevalence of myopia accounted for 27.0% of the world's population in 2010, and it is projected to grow to 52.0% by 2050. An increase in the aging population and the high prevalence of visual impairments increases the demand for retinoscopy devices, thereby driving the market's growth.
- Increasing government initiatives to improve eye health and technological advancements in the field of ophthalmology are boosting the market.
- For instance, in August 2022, The International Agency for the Prevention of Blindness (IAPB) launched a global campaign to raise awareness regarding eye health. Around 1.0 billion people worldwide have poor vision and no access to treatment. Thus, the campaign highlights the positive impact of eye care on education, safety, and economic productivity.
- In April 2023, NEITZ INSTRUMENTS Co. Ltd launched a new RX LED retinoscope with valuable and unique screening features, even in a bright room.
Such government initiatives and technological advancements in the devices are projected to drive the market over the next five years.
- The senior population is more susceptible to eye-related conditions like myopia and hyperopia due to age-related structural changes in the ocular media. The prevalence of refractive errors is more than 80.0% in the elderly population, according to the study "High prevalence of refractive errors in an elderly population; a public health issue," released in January 2023. Thus, the factors mentioned above are expected to drive the retinoscopes market.
- However, the high cost of retinoscope devices, lack of skilled professionals, and low accessibility in low-income countries restrain the market's growth.
Retinoscopes Market Trends
Streak Retinoscopes Segment is Expected to Witness Significant Growth Over the Forecast Period
A streak retinoscope is a device used to measure the refractive error of an eye. The device has a light source that produces a streak or line of light. The increasing cases of refractive errors like myopia, astigmatism, hypermetropia, and presbyopia are projected to grow in the coming years, owing to the rising geriatric population, increased screen timing, and other chronic conditions leading to visual impairments.
- According to the World Health Organization, vision loss can affect people of all ages. However, vision impairment and blindness are most seen in people aged over 50 years. According to the data published by The International Agency for the Prevention of Blindness (IAPB), there were around 1.10 billion people with vision loss in 2020, and the number is projected to grow to 1.80 billion by 2050. Such instances suggest the increasing need for vision correction devices.
- During the COVID-19 pandemic, treatment delays caused the progression of visual impairment in patients. An article published by the National Library of Medicine in May 2023 stated that the pandemic had an adverse psychosocial impact on people with visual impairment due to delayed treatment. Such studies highlighted the influence of the outbreak on ophthalmology visits, which impacted the adoption of vision correction devices among the patient population.
- The onset of retail and online stores offering vision correction devices for patients suffering from refractive errors contributes to segmental growth. For instance, in December 2023, Haag-Streit UK launched a brand-new e-shop with a comprehensive product portfolio, including retinoscopes. The e-shop includes an integrated, powerful shopping cart technology that allows customers to order online seamlessly.
- Due to the abovementioned factors, the streak retinoscope segment is expected to witness significant growth in the coming years.
North America is Expected to Dominate the Retinoscopes Market
North America is expected to dominate the market owing to factors such as increasing cases of eye disease and a rapidly aging population, developed healthcare infrastructure, new product launches, and the presence of established players in the region. According to the data published by the American Optometric Association, in July 2023, around 12.0 million adults aged 40 years and older suffer from uncorrectable vision loss in the United States, out of which more than 1 million Americans are blind. The number of blind individuals is estimated to reach 8.96 million by 2050.
- As per the data published by the Canadian Council of the Blind, in February 2022, 1.2 million Canadians were living with vision loss in 2020, and the number is projected to reach 1.58 million by 2030. Such instances of vision loss are anticipated to boost the adoption of visual impairment devices, thus influencing the market's growth in the region.
- The market is also driven by increased government initiatives and consumer awareness of eye health in the region. For instance, in March 2023, the Government of Canada showed leadership toward healthcare in the country. The national vision health stakeholders came together to address vision care in Canada. In January 2024, HOYA, a vision care company, launched a new Canadian public awareness campaign highlighting the benefits of MiYOSMART spectacle lenses for myopia children. The campaign aims to spread awareness concerning the impacts of myopia on children. Such initiatives are boosting the adoption of ophthalmology devices.
- Several prominent players in the market are focused on expanding their geographical presence, which is projected to create numerous growth opportunities for the market. For instance, in January 2023, Espansione Group and Essilor Instruments, a division of EssilorLuxottica, announced a long-term exclusive partnership for North America. Essilor Instruments became an official distributor for the North American market. Espansione Group is a medical technology company focused on ophthalmic and dermatological solutions to treat several conditions. Essilor Instruments aims to create immense value for the North American ophthalmology and optometry communities. Such strategic initiatives by key players are contributing to the growth of the market.
Therefore, owing to the factors mentioned above, the growth of the market is anticipated in the North American region.
Retinoscopes Industry Overview
The retinoscopes market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold significant market share and are well known. These players include HEINE Optotechnik GmbH & Co. KG, Baxter, Keeler, US Ophthalmic, NEITZ INSTRUMENTS Co. Ltd, Naugra Medical, Advin Health Care, Rudolf Riester GmbH, Opticlar, Suzhou Kangjie Medical Inc., Unitech Vision, and Rumax International Private Limited, among others.
Retinoscopes Market Leaders
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HEINE Optotechnik GmbH & Co. KG
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Baxter
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Keeler
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US Ophthalmic
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NEITZ INSTRUMENTS Co.,Ltd
*Disclaimer: Major Players sorted in no particular order
Retinoscopes Market News
- December 2023: Carl Zeiss Meditec AG announced the acquisition of the Dutch Ophthalmic Research Center to expand its ophthalmic device portfolio for addressing a wide range of eye conditions, such as retinal disorders and refractive errors.
- September 2023: Essilor, an international ophthalmic optics company, launched a national campaign to spread awareness of myopia in Canada. The campaign highlights the treatment options for children to slow down the progression of myopia.
Retinoscopes Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence of Myopia, Hyperopia, Astigmatism, and Other Visual Impairments
4.2.2 Technological Adavacements in Retinoscope Models
4.2.3 Increasing Government Initiatives to Improve Eye Health
4.3 Market Restraints
4.3.1 High Cost of Retinoscope Devices
4.3.2 Lack of Skilled Professionals and Low Accessibility in Low-income Countries
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Device Type
5.1.1 Streak Retinoscopes
5.1.2 Spot Retinoscopes
5.2 By End User
5.2.1 Ophthalmic Centers
5.2.2 Hospitals
5.2.3 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 HEINE Optotechnik GmbH & Co. KG
6.1.2 Baxter
6.1.3 Keeler
6.1.4 US Ophthalmic
6.1.5 NEITZ INSTRUMENTS Co. Ltd
6.1.6 Naugra Medical
6.1.7 Advin Health Care
6.1.8 Rudolf Riester GmbH
6.1.9 Opticlar
6.1.10 Suzhou Kangjie Medical Inc.
6.1.11 Unitech Vision
6.1.12 Rumax International Private Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Retinoscopes Industry Segmentation
A retinoscope is a handheld medical device used by an examiner to measure an eye's refractive error. The examiner utilizes a retinoscope to shine light through the cornea and measure the rays emitted by the inner eyes. Different lenses are used in retinoscopes to obtain an accurate result.
The retinoscopes market is segmented into device type, end-user, and geography. By device type, the market is segmented into streak retinoscopes and spot retinoscopes. By end-user, the market is segmented into ophthalmic centers, hospitals, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report also offers the market size and forecasts for 17 countries across the region. For each segment, the market sizing and forecasts are provided on the basis of value (USD).
| By Device Type | |
| Streak Retinoscopes | |
| Spot Retinoscopes |
| By End User | |
| Ophthalmic Centers | |
| Hospitals | |
| Other End Users |
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Retinoscopes Market Research FAQs
How big is the Retinoscopes Market?
The Retinoscopes Market size is expected to reach USD 4.5 billion in 2024 and grow at a CAGR of 4.5% to reach USD 5.70 billion by 2029.
What is the current Retinoscopes Market size?
In 2024, the Retinoscopes Market size is expected to reach USD 4.5 billion.
Who are the key players in Retinoscopes Market?
HEINE Optotechnik GmbH & Co. KG, Baxter, Keeler, US Ophthalmic and NEITZ INSTRUMENTS Co.,Ltd are the major companies operating in the Retinoscopes Market.
Which is the fastest growing region in Retinoscopes Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Retinoscopes Market?
In 2024, the North America accounts for the largest market share in Retinoscopes Market.
What years does this Retinoscopes Market cover, and what was the market size in 2023?
In 2023, the Retinoscopes Market size was estimated at USD 4.30 billion. The report covers the Retinoscopes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Retinoscopes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Retinoscopes Industry Report
Statistics for the 2024 Retinoscopes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Retinoscopes analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
