Rising Prevalence Of Eye Disease Is Expected To Augment The Optometry Equipment Market Growth

 

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Rising prevalence of most common eye disease such as age-related macular degeneration (AMD), cataract, glaucoma, and diabetic retinopathy are major driving factor for growth of the optometry equipment market. For instance, according to the data published in the Glaucoma Research Foundation (GRF) in October 2017, glaucoma accounts for around 10 million visits to physicians annually. Furthermore, in terms of health care expenditure, glaucoma cost around US$ 1.5 billion to the U.S. government, annually.

According to the Royal National Institute of Blind People (RNIB), more than 5.7 million people are suffering from sight-threatening eye conditions in the U.K. Moreover, 2 million individuals were suffering from sight loss in 2016, which is expected to rise by registering more than 2.7 million individuals by 2030. Moreover, according to the Royal National Institute of Blind People (RNIB) data findings, in 2014, around 350,000 people were registered as blind or partially sighted, which includes 291,100 individuals from England, 34,500 in Scotland, 16,939 in Wales and around 8000 in Northern Ireland.

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Increasing healthcare expenditures for treatment of sight loss, blindness, and sight-threating conditions are expected to propel demand for optometry equipment over the forecast period. According to the RNIB- Eye Health 2016 report, in the U.K., during 2016, sight loss, blindness and sight-threating conditions accounted for US$ 2.03 million, US$ 0.27 million, and US$ 5.7 million healthcare expenditures, respectively.

Moreover, growing number of diabetic population and patients suffering with diabetes owing to get affected with diabetes eye disease, will expected to exhibit strong growth in optometry equipment market. Eye disease is the common complications in diabetes, which include glaucoma, diabetic retinopathy, and cataract. People with diabetes are twice as likely to develop glaucoma as compared to non-diabetics people. Neovascular glaucoma, is the rare type of glaucoma, which is commonly associated with the diabetes.

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