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Optometry Equipment Market is Expected to Reach $5.4 billion | MarketsandMarkets.

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Chicago, May 26, 2023 (GLOBE NEWSWIRE) — The optometry equipment industry is expected to witness significant growth in the near future due to several factors. Technological advancements, such as the development of advanced imaging techniques, digital refractors, and diagnostic devices, are driving the demand for innovative optometry equipment. With an increasing prevalence of vision-related disorders and eye diseases, there is a growing need for precise and accurate diagnostic tools to aid optometrists in providing effective treatment and care. Additionally, the expanding aging population and rising awareness about eye health are further propelling the demand for optometry equipment. The integration of artificial intelligence and machine learning in optometric devices is expected to enhance diagnostic accuracy and efficiency. Moreover, the adoption of telemedicine and remote patient monitoring solutions in the field of optometry is opening new avenues for the industry. As the optometry equipment industry continues to evolve, it is likely to play a crucial role in supporting eye care professionals in delivering improved patient outcomes and advancing the field of vision care.

Optometry Equipment market in terms of revenue was estimated to be worth $4.0 billion in 2022 and is poised to reach $5.4 billion by 2027, growing at a CAGR of 6.4% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The rising geriatric population, increasing prevalence of eye diseases, and the growing healthcare expenditure in developing countries are the major factors driving the optometry equipment market’s growth.

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Optometry Equipment Market Scope:

Report Coverage Details
Market Revenue in 2022 $4.0 billion
Estimated Value by 2027 $5.4 billion
Growth Rate Poised to grow at a CAGR of 6.4%
Market Size Available for 2020–2027
Forecast Period 2022–2027
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, application, end user, and region
Geographies Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Growth opportunities in emerging countries
Key Market Drivers Increasing incidence of eye disorders

Notable Optometry Equipment mergers and acquisitions for 2022 – 2022 include:

  • In April 2022, Carl Zeiss acquired Kogent Surgical, LLC and Katalyst Surgical, LLC. This acquisition was made to scale the businesses and contribute to the current surgical solution offering of Carl Zeiss.
  • In July 2020, Topcon Corporation acquired the Henson line of perimetry products, including the Henson 9000 and 7000, from Electrons Eye Technology (EET) to strategically develop the area of the company’s product portfolio.
  • In September 2021, the company announced the launch of ZEISS CIRRUS 6000, an OCT system with efficient fundus imaging solutions which combine true color with an ultrawide view.

Growth Drivers of Optometry Equipment Market from macro to micro:

Macro-Level Factors:

  • Increasing Prevalence of Vision Disorders: The growing prevalence of vision disorders, such as myopia, hyperopia, and age-related eye conditions, is a significant macro-level driver for the optometry equipment market. As the population ages and digital device usage increases, the demand for comprehensive eye examinations and diagnostic tools rises, fueling the need for optometry equipment.
  • Technological Advancements: Rapid advancements in technology, including digital imaging, diagnostic devices, and automated systems, drive the growth of the optometry equipment market. Technological innovations enable optometrists to provide accurate and efficient diagnostics, resulting in improved patient care. Furthermore, the integration of telemedicine and remote monitoring solutions is revolutionizing the way eye care is delivered.
  • Increasing Awareness of Eye Health: Growing awareness about the importance of eye health and regular eye examinations is boosting the demand for optometry equipment. Public health campaigns, educational initiatives, and increased access to information contribute to the rising awareness among individuals about the need for preventive eye care, thus driving the market growth.

Micro-Level Factors:

  • Expansion of Optometric Practices and Eye Care Facilities: The increasing number of optometric practices and eye care facilities, both independent and within larger healthcare organizations, creates a favorable environment for the optometry equipment market. The establishment of new clinics and the expansion of existing practices create opportunities for the adoption of advanced optometry equipment to meet the growing demand for eye care services.
  • Emphasis on Precision and Efficiency: Optometry equipment that provides accurate and efficient diagnostics, enhances patient experience, and enables personalized treatment plans is in high demand. Optometrists and eye care professionals seek equipment that offers precise measurements, reliable results, and streamlined workflows, contributing to the growth of the market.
  • Integration of Artificial Intelligence and Big Data Analytics: The integration of artificial intelligence (AI) and big data analytics in optometry equipment enhances diagnostic capabilities, enables data-driven decision-making, and improves patient outcomes. AI-powered algorithms, image recognition technologies, and predictive analytics aid in early detection, disease management, and personalized treatment plans, driving the adoption of advanced optometry equipment.
  • Favorable Reimbursement Policies: Adequate reimbursement policies for optometry services and equipment play a crucial role in market growth. Favorable reimbursement schemes and insurance coverage for optometry procedures encourage healthcare providers to invest in advanced equipment, ensuring the availability and affordability of quality eye care services.

These macro-level and micro-level growth drivers collectively contribute to the expansion of the optometry equipment market. Advancements in technology, increasing awareness of eye health, and the integration of AI and big data analytics are expected to shape the future of the industry, enhancing patient care and driving market growth.

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Hypothetic challenges of Optometry Equipment market in near future:

  • Technological Obsolescence: Rapid advancements in technology can lead to the risk of equipment becoming obsolete or outdated within a short period. Optometry equipment manufacturers and providers need to stay at the forefront of technological developments to ensure that their products remain relevant and competitive in the market.
  • Regulatory Changes and Compliance: Regulatory changes related to healthcare standards, safety requirements, and data privacy regulations may pose challenges for optometry equipment manufacturers and providers. Compliance with evolving regulations and standards may require significant investments in research, development, and product modifications.
  • Cost and Affordability: Optometry equipment can be expensive, which may present challenges in terms of affordability for smaller optometric practices and clinics. High costs of equipment acquisition and maintenance can limit access to advanced technologies, especially for practitioners in resource-constrained settings or regions with inadequate reimbursement policies.
  • Training and Education: Keeping up with technological advancements and effectively utilizing optometry equipment require ongoing training and education for eye care professionals. Ensuring that practitioners have the necessary skills and knowledge to operate and interpret results from advanced equipment can be a challenge, especially in regions with limited access to training programs.
  • Integration and Interoperability: As optometry equipment becomes more advanced and connected, ensuring seamless integration and interoperability between different devices and software systems can be a challenge. Standardization and compatibility issues may arise, hindering the efficient exchange and utilization of patient data across different platforms and healthcare settings.
  • Data Security and Privacy: With the increasing digitalization of patient records and the use of connected devices, data security and privacy become critical concerns. Protecting patient information from unauthorized access, data breaches, and cyber threats requires robust cybersecurity measures and compliance with data protection regulations.
  • Market Competition and Consolidation: The optometry equipment market is becoming increasingly competitive, with the entry of new players and the consolidation of existing companies. Market competition may result in pricing pressures and the need for continuous innovation to differentiate products and maintain market share.

Addressing these hypothetical challenges will require collaboration among industry stakeholders, ongoing investments in research and development, regulatory compliance, training and education programs, and a focus on ensuring affordability and accessibility of optometry equipment. Overcoming these challenges will be crucial for the sustainable growth and development of the optometry equipment market in the near future.

Top 3 use cases of Optometry Equipment market:

  • Refraction and Vision Testing: Optometry equipment is extensively used for refraction and vision testing, which are fundamental components of eye examinations. Devices such as autorefractors, phoropters, and visual acuity charts enable optometrists to assess the visual acuity, refractive errors (such as myopia, hyperopia, and astigmatism), and binocular vision of patients. These tools help determine the appropriate prescription for corrective eyewear and guide treatment decisions.
  • Ophthalmic Imaging and Diagnostics: Optometry equipment plays a crucial role in ophthalmic imaging and diagnostics, allowing optometrists to examine various structures of the eye. Devices such as ophthalmoscopes, slit lamps, optical coherence tomography (OCT) scanners, and fundus cameras enable detailed imaging of the retina, cornea, lens, and other ocular structures. These tools aid in the diagnosis and monitoring of conditions such as glaucoma, macular degeneration, diabetic retinopathy, and cataracts.
  • Contact Lens Fitting and Evaluation: Optometry equipment is utilized in the fitting and evaluation of contact lenses. Devices such as corneal topographers, keratometers, and tear film analyzers help in assessing the shape and curvature of the cornea, measuring tear film stability, and evaluating ocular surface health. These tools assist optometrists in selecting appropriate contact lenses, ensuring proper fit, and monitoring lens performance for optimal vision and comfort.

These use cases highlight the critical role of optometry equipment in facilitating accurate diagnoses, personalized treatment plans, and ongoing monitoring of eye health. By providing precise measurements, advanced imaging capabilities, and objective data, optometry equipment aids optometrists in delivering comprehensive and effective eye care services to patients.

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Related Reports:

Ophthalmic Equipment Market

Surgical Robots Market

Minimally Invasive Surgical Instruments Market

Contact Lenses Market

Ambulatory Surgical Centers Market


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XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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