Global Spot Vision Screener Market, by Indication Type (Myopia, Hyperopia, Astigmatism, Anisometropia, Strabismus, and Anisocoria), By End User (Hospitals, Speciality Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 193.9 million in 2020 and is expected to exhibit a CAGR of 5.2% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global Spot Vision Screener Market - Impact of Coronavirus (COVID-19) Pandemic
Following the COVID-19 outbreak in December 2019, the virus has spread to more than 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 29.6 million infected individuals worldwide as of September 2020. The COVID-19 pandemic has affected the global economy in three main ways; by directly affecting production and demand, by negatively impacting the supply chain and market disruption, and through its financial impact on firms and financial markets. Nationwide lockdowns in various countries such as Italy, Spain, U.K., U.S., Australia, India, and others have hampered growth of the medical health industry.
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Moreover, severe economic crisis and broken supply chain of the medical industry is a major issue faced by global spot vision screener product producing companies across the globe. The pandemic has negatively impacted the medical healthcare industry in terms of supply and demand of devices. As a result, the global spot vision screener market growth is also expected to witness a slowdown.
The slowdown of pharma, biopharma, and biotech companies’ manufacturing processes have also impacted production of global spot vision screener market.
Browse 25 Market Data Tables and 21 Figures spread through 146 Pages and in-depth TOC on Global Spot Vision Screener Market, by Indication Type (Myopia, Hyperopia, Astigmatism, Anisometropia, Strabismus, and Anisocoria), By End user (Hospitals, Speciality Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), - Forecast to 2027"
Moreover, increasing prevalence of eye disorders and rising awareness among the populace regarding eye health and safety are expected to propel growth of the global spot vision screener market. According to the World Health Organization (WHO): October 2018, around 1.3 billion people worldwide suffer from some form of vision impairment, annually. According to the same source, uncorrected refractive errors and cataracts are the leading cause of vision impairment, worldwide. Increasing number of eye related disorders propel demand for vision care devices, which in turn propels growth of the global spot vision screener market.
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Key Takeaways of the Global Spot Vision Screener Market:
The global spot vision screener market is expected to exhibit a CAGR of 5.2% during the forecast period (2020-2027), owing to high prevalence of eye diseases. For instance, Directorate General of Health Services: Government of India launched a National Program for Control of Blindness and Visual Impairment (NPCB&VI) in 1976 with the goal of reducing the prevalence of blindness to 0.3% by 2020. A survey conducted in year between (2015-18) shows projected rate of prevalence of blindness is 0.45%. The Government of India is focused on lowering this rate to 0.3% by 2020.
Among indication type, the myopia segment is expected to hold a major revenue share in 2027, owing to high prevalence of myopia across the globe
Major players operating in the global spot vision screener market include Hillrom, Essilor International S.A., OCULUS Surgical, Inc., FIM Medical, Adaptica S.r.l., Honeywell International Inc., and Plusoptix Inc.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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