Ophthalmic Tonometers Market Trends

Growth Drivers

• Rising Geriatric Population Around the World- According to the World Bank report, 747,238,580 people were over 60 years of age in the world at the end of 2021. Eye disorders such as vision impairment and glaucoma have become increasingly prevalent as a result of aging populations around the world. In addition to medical care, eye care should be a priority in older populations' health care. Additionally, the aging population and diabetics are more prone to suffer from eye-related disorders, which in turn is expected to enlarge the global ophthalmic tonometers market size during the forecast period.
• Rising Exports of Ophthalmic Instruments Worldwide - According to the statistics by the International Trade Center (Trademap), the value of exports of Ophthalmic instruments in the United States in the year 2021 was recorded to be USD 1,070,493 which was an increase from USD 935,900 preceding year.
• Worldwide Rising Prevalence of Eye Disorders- For instance, approximately 290 million people globally are blind or visually impaired, and nearly 2.8 million Americans aged 40 years and above are suffering from low vision. 
• Increasing Spending on Healthcare Services - As per the recent data from the Centers for Medicare & Medicaid Services, approximately 19.7% of GDP was spent on healthcare services in 2020 in the United States, representing a total of USD 4.1 trillion.
• Rising Incidence of Diabetic Eye Disease Among Population- Diabetes can cause damage to blood vessels in the eyes, leading to vision problems for long-term diabetics. For instance, diabetic retinopathy affects around 7.8 million American adults and by 2030 this number is expected to rise to nearly 11 million.

Challenges

• Lack of Specialized Ophthalmologists - There is a global lack of specialized ophthalmologists, particularly in underdeveloped countries. For instance, by the end of 2019, India had only about 14,000 ophthalmologists. As a result, this factor is estimated to slow down the market growth throughout the projected period.
• High Cost Associated with Tonometry
• Insufficient Use of Contact Tonometers