Ophthalmic Diagnostic Equipment Market Size

Ophthalmic Diagnostic Equipment Market size was over USD 3.38 billion in 2023 and is anticipated to reach USD 5.22 billion by 2036, growing at around 3.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ophthalmic diagnostic equipment is estimated at USD 3.47 billion.

The growth of the market can be attributed to the rising prevalence of eye diseases among the global population. The loss of vision is becoming one of the major public health problems. People of all age groups suffer from vision loss. Based on a report published by World Health Organization (WHO) in 2022, it was stated that about 2.2 billion people have near or distance vision impairment while approximately 1 billion vision impairments are projected to be addressed over the forecast period. Furthermore, a significant number of the global population is completely blind. A report by the International Agency for the Prevention of Blindness in 2020 showed that 43 million people of the global population are blind. Additionally, elderly people are more likely to get eye diseases owing to increasing age. As per the data demonstrated by the World Bank, in 2020, 723,484,054 people were stated to be aged 65 or above. All these factors are projected to influence the growth of the ophthalmic diagnostic equipment market positively over the forecast period.