DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Synoptophore Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The synoptophore market is projected to register a CAGR of around 4% during the forecast period.
The studied market growth can be largely attributed to the increasing incidences of visual acuity disorders, growing awareness pertaining to the early diagnosis of visual acuity disorders, and rising demand for non-invasive processes. These factors are majorly contributing to the rising demand for synoptophore devices in healthcare facilities.
Increasing incidences of visual acuity disorders is contributing to the rising demand for synoptophore. Visual acuity is defined as the sharpness or clarity of vision. The loss of visual acuity occurs in patients suffering from amblyopia, strabismus, under corrected refractive disorders and other convergent disorders. Increase in multiple risk factors such as stroke and traumatic head injury is associated with visual acuity disorders.
Synoptophore devices are considered reliable for correction of such disorders. As per the 2019 statistics by the National Eye Institute (NEI), between 4% and 17% of people suffer from convergence insufficiency (CI) disorder. Moreover, young and adult population is more prone to visual acuity disorders. Thus, the increase in such numbers will fuel the demand for synoptophore device.
Also, growing awareness pertaining to the early diagnosis of acuity disorders is anticipated to fuel the market growth. Several orthoptic associations across the globe are engaged in encouraging the early diagnosis of acuity disorders that is fueling the demand for synoptophore device.
Moreover, several schools and colleges are engaged in organizing eye examination camps that may further contribute to the demand for synoptophore device. Thus, in view of the above-mentioned factors, the market will witness a significant growth over the forecast period.
However, high cost of the synoptophore device and access to alternatives for treatment of visual acuity disorders are some of factors impeding the market growth.
The synoptophore market is nearly fragmented due to the presence of several regional and global market players. These players focus on growth strategies such as new product launches, innovations in existing products, and mergers & acquisitions.
Key market players operating in the global market are HAAG-STREIT GROUP, APPASAMY ASSOCIATES, Prkamya Visions, Nanjing Redsun Optical Co., Ltd., and Gem Opticals Instruments Industries.
Additionally, the key players have been involved in various strategic alliances such as acquisitions, collaborations to secure the position in the global market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidences of Visual Acuity Disorders
4.2.2 Growing Awareness Pertaining to the Early Diagnosis of Visual Acuity Disorder
4.2.3 Rising Demand for Non-invasive Procedures
4.3 Market Restraints
4.3.1 High Cost of Synoptophore Device
4.3.2 Access to Alternative Treatments
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Application
5.2 By Instrument Type
5.3 By End-User
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 HAAG-STREIT GROUP
6.1.2 APPASAMY ASSOCIATES
6.1.3 Prkamya Visions
6.1.4 Nanjing Redsun Optical Co., Ltd
6.1.5 Gem Optical Instruments Industries
6.1.6 Dahlgren India
6.1.7 Rumax International
6.1.8 66 Vision Tech Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qziofj
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005596/en/
Laura Wood, Senior Press Manager
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