Optometry Software Market in North America by End-user, and Type - Forecast and Analysis 2023-2027
- Published: Jan 2023
- Pages: 138
- SKU: IRTNTR74903
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The optometry software market in North America is estimated to grow/decline at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecast to increase by USD 526.96. The growth of the market depends on serval factors, including the increasing prevalence of ophthalmic diseases, the benefits associated with optometry software, and the rising number of initiatives to increase awareness and customer training
This report extensively covers market segmentation by end-user (hospitals, nursing homes, and others) and type (cloud-based and web-based). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
What will be the size of the Optometry Software Market In North America During the Forecast Period?
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Parent Market Analysis
Technavio categorizes the optometry software market in North America as a part of the healthcare technology segment, which, in turn, is a part of the global healthcare market. The market includes the revenue generated from the sales of healthcare applications and IT systems, Internet-based healthcare tools (such as monitoring devices), and IT consulting services to clinics, hospitals, or businesses operating primarily in the healthcare sector. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Optometry Software Market In North America: Key Drivers, Trends, Challenges, and Customer Landscape
The increasing prevalence of ophthalmic diseases is notably driving the market growth, although factors such as the rising medical data privacy concerns may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Optometry Software Market Driver In North America
The increasing prevalence of ophthalmic diseases is a key factor driving the growth of the North America optometry software market. The high prevalence of eye diseases such as cataracts, glaucoma, diabetic retinopathy, and refractive diseases; the rising older population; and the high number of ophthalmology surgeries performed are driving the growth of the market in the region. In addition, about 6.1 million people in the region have undergone minimal surgical procedures to replace lenses for the correction of cataracts.
Moreover, the increasing geriatric population and chronic diseases such as diabetes contribute to the increasing prevalence of ophthalmic diseases. As the risk of diabetic retinopathy is expected to increase with age, the growing geriatric population is expected to contribute to high growth in the demand for optometry software in the region during the forecast period. Such factors are expected to increase the prevalence of ophthalmic diseases, which, in turn, will drive the growth of the optometry software market in North America during the forecast period.
Significant Optometry Software Market Trend In North America
The growing ophthalmology market is the primary trend in the North America optometry software market growth. The ophthalmology market in North America has witnessed rapid growth in the last 10 years. The growing prevalence of eye diseases and technological advancements in the field of ophthalmology is driving the growth of the ophthalmology market in North America. The rise in focus on research and development (R and D) to develop innovative treatments among manufacturers is further driving the growth of the ophthalmology market in North America. Additionally, rising medical costs, increasing healthcare spending, and growing demand for more precision therapies will augment the growth of the ophthalmology market in North America during the forecast period.
Thus, the growing ophthalmology market will increase the demand for software to track patient treatments, prescriptions for medicines, glasses, contact lenses, and other information. Also, using optometry software, ophthalmologists can arrange their daily tasks as well as their operational and monitoring needs. Planning, scheduling, monitoring, and billing chores may all be evaluated using software designed for managing optometry operations, including financial and client data. Thus, the growing ophthalmology market in North America will boost the growth of the optometry software market in North America during the forecast period.
Major Optometry Software Market Challenge In North America
The rising medical data privacy concerns is a major challenge to the growth of the North America optometry software market. The increasing adoption of advancing technologies for medical document storing, processing, analyzing, and interpreting is giving rise to data privacy concerns. Personal data, medical records, and medication information of any person should not be disclosed without authorization and permission as per the different privacy acts in various countries. The medical data of a patient also comes under this category of privacy. For instance, in the US, Health Insurance Portability and Accountability Act (HIPAA) is a specific Act associated with health-related data privacy.
Despite this privacy act, increased use of advanced technologies and optometry software solutions in ophthalmology, data privacy concerns will lurk. This drawback may be due to improper data authentication, system authentication, unsecured resources, and other money-related data breach possibilities. Such data security concerns will hamper the growth of the optometry software market in North America during the forecast period.
Key Optometry Software Market In North America Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Optometry Software Market in North America Customer Landscape
Who are the Major Optometry Software Market Vendors in North America?
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
compulinkadvantage.com - The company offers optometry software such as OneTab EHR, Telehealth, and Unique Visual Documentation Engine. Also, through this segment, the company offers EHR and practice management solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
- Crystal Practice Management
- Doctorsoft Corp.
- DrChrono Inc.
- Eye Care Leaders
- EyeMD EMR Healthcare Systems Inc.
- First Insight Corp.
- Health Innovation Technologies Inc.
- LiquidEHR Inc.
- Medflow Holding LLC
- Meditab Software Inc.
- Milner Inc.
- Nextech Systems LLC
- Ocuco Ltd.
- Optical POS Software LLC
- Optometric Services Inc.
- Solutionreach Inc.
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
What is the Fastest-Growing Segment in the Optometry Software Market In North America?
The market share growth by the hospitals segment will be significant during the forecast period. The hospitals segment accounts for a significant share of the optometry software market in North America, led by the high number of ophthalmology diagnostic and surgical procedures performed in hospitals and the growing adoption of technologically advanced optometry software in hospitals. Hospitals are also well equipped to provide patient care for ophthalmology disorders, as they employ a large number of skilled ophthalmologists that can operate technologically advanced optometry software. Hence, hospitals are preferred by a significant proportion of patients undergoing complex ophthalmological surgeries.
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The hospitals segment was valued at USD 739.75 million in 2017 and continue to grow by 2021. Hospitals focusing on ophthalmology care often have strong partnerships with vendors operating in the optometry software market in North America. The partnership helps hospitals to purchase optometry software at discounted prices directly from the manufacturer. This helps them to bring down the overall costs for the patients as well. Moreover, a few key market players are investing in the development of effective distribution networks with hospitals to increase their market penetration. These factors are expected to increase the demand for optometry software in hospitals, which, in turn, will drive the growth of the market during the forecast period.
Segment Overview
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
- End-User Outlook (USD Million, 2017 - 2027)
- Hospitals
- Nursing homes
- Others
- Type Outlook (USD Million, 2017 - 2027)
- Cloud-based
- Web-based
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Optometry Software Market In North America Scope |
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|
Report Coverage |
Details |
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Page number |
138 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.5% |
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Market growth 2023-2027 |
USD 526.96 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.16 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Compulink Healthcare Solutions, Crystal Practice Management, Doctorsoft Corp., DrChrono Inc., Eye Care Leaders, EyeMD EMR Healthcare Systems Inc., First Insight Corp., Health Innovation Technologies Inc., LiquidEHR Inc., Medflow Holding LLC, Meditab Software Inc., Milner Inc., Nextech Systems LLC, Ocuco Ltd., Optical POS Software LLC, Optometric Services Inc., Solutionreach Inc., Vision Service Plan, Weave Communications Inc., WRS Health, and Yocale Network Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Optometry Software Market Report In North America?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the optometry software market in North America between 2023 and 2027
- Precise estimation of the optometry software market in North America size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of optometry software market vendors in North America
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on North America: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ million)
4 Historic Market Size
- 4.1 Optometry software market in North America 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Optometry software market in North America 2017 - 2021 ($ million)
- 4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 29: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 30: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 31: Chart on Comparison by End-user
- Exhibit 32: Data Table on Comparison by End-user
- 6.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 33: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 34: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 6.4 Nursing homes - Market size and forecast 2022-2027
- Exhibit 37: Chart on Nursing homes - Market size and forecast 2022-2027 ($ million)
- Exhibit 38: Data Table on Nursing homes - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Chart on Nursing homes - Year-over-year growth 2022-2027 (%)
- Exhibit 40: Data Table on Nursing homes - Year-over-year growth 2022-2027 (%)
- 6.5 Others - Market size and forecast 2022-2027
- Exhibit 41: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 42: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 44: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by End-user
- Exhibit 45: Market opportunity by End-user ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 46: Chart on Type - Market share 2022-2027 (%)
- Exhibit 47: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 48: Chart on Comparison by Type
- Exhibit 49: Data Table on Comparison by Type
- 7.3 Cloud-based - Market size and forecast 2022-2027
- Exhibit 50: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)
- 7.4 Web-based - Market size and forecast 2022-2027
- Exhibit 54: Chart on Web-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 55: Data Table on Web-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Chart on Web-based - Year-over-year growth 2022-2027 (%)
- Exhibit 57: Data Table on Web-based - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 58: Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 60: Chart on Market share by geography - 2022-2027 (%)
- Exhibit 61: Data Table on Market share by geography - 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 62: Chart on Geographic comparison
- Exhibit 63: Data Table on Geographic comparison
- 9.3 US - Market size and forecast 2022-2027
- Exhibit 64: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 67: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.4 Canada - Market size and forecast 2022-2027
- Exhibit 68: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 71: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.5 Mexico - Market size and forecast 2022-2027
- Exhibit 72: Chart on Mexico - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Data Table on Mexico - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Chart on Mexico - Year-over-year growth 2022-2027 (%)
- Exhibit 75: Data Table on Mexico - Year-over-year growth 2022-2027 (%)
- 9.6 Market opportunity by geography
- Exhibit 76: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 77: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 78: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 79: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 80: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 81: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 82: Matrix on vendor position and classification
- 12.3 Compulink Healthcare Solutions
- Exhibit 83: Compulink Healthcare Solutions - Overview
- Exhibit 84: Compulink Healthcare Solutions - Product / Service
- Exhibit 85: Compulink Healthcare Solutions - Key offerings
- 12.4 Crystal Practice Management
- Exhibit 86: Crystal Practice Management - Overview
- Exhibit 87: Crystal Practice Management - Product / Service
- Exhibit 88: Crystal Practice Management - Key offerings
- 12.5 Doctorsoft Corp.
- Exhibit 89: Doctorsoft Corp. - Overview
- Exhibit 90: Doctorsoft Corp. - Product / Service
- Exhibit 91: Doctorsoft Corp. - Key offerings
- 12.6 DrChrono Inc.
- Exhibit 92: DrChrono Inc. - Overview
- Exhibit 93: DrChrono Inc. - Product / Service
- Exhibit 94: DrChrono Inc. - Key offerings
- 12.7 Eye Care Leaders
- Exhibit 95: Eye Care Leaders - Overview
- Exhibit 96: Eye Care Leaders - Product / Service
- Exhibit 97: Eye Care Leaders - Key offerings
- 12.8 EyeMD EMR Healthcare Systems Inc.
- Exhibit 98: EyeMD EMR Healthcare Systems Inc. - Overview
- Exhibit 99: EyeMD EMR Healthcare Systems Inc. - Product / Service
- Exhibit 100: EyeMD EMR Healthcare Systems Inc. - Key offerings
- 12.9 First Insight Corp.
- Exhibit 101: First Insight Corp. - Overview
- Exhibit 102: First Insight Corp. - Product / Service
- Exhibit 103: First Insight Corp. - Key offerings
- 12.10 Health Innovation Technologies Inc.
- Exhibit 104: Health Innovation Technologies Inc. - Overview
- Exhibit 105: Health Innovation Technologies Inc. - Product / Service
- Exhibit 106: Health Innovation Technologies Inc. - Key offerings
- 12.11 LiquidEHR Inc.
- Exhibit 107: LiquidEHR Inc. - Overview
- Exhibit 108: LiquidEHR Inc. - Product / Service
- Exhibit 109: LiquidEHR Inc. - Key offerings
- 12.12 Milner Inc.
- Exhibit 110: Milner Inc. - Overview
- Exhibit 111: Milner Inc. - Product / Service
- Exhibit 112: Milner Inc. - Key offerings
- 12.13 Nextech Systems LLC
- Exhibit 113: Nextech Systems LLC - Overview
- Exhibit 114: Nextech Systems LLC - Product / Service
- Exhibit 115: Nextech Systems LLC - Key offerings
- 12.14 Ocuco Ltd.
- Exhibit 116: Ocuco Ltd. - Overview
- Exhibit 117: Ocuco Ltd. - Product / Service
- Exhibit 118: Ocuco Ltd. - Key offerings
- 12.15 Optometric Services Inc.
- Exhibit 119: Optometric Services Inc. - Overview
- Exhibit 120: Optometric Services Inc. - Product / Service
- Exhibit 121: Optometric Services Inc. - Key offerings
- 12.16 Vision Service Plan
- Exhibit 122: Vision Service Plan - Overview
- Exhibit 123: Vision Service Plan - Product / Service
- Exhibit 124: Vision Service Plan - Key offerings
- 12.17 WRS Health
- Exhibit 125: WRS Health - Overview
- Exhibit 126: WRS Health - Product / Service
- Exhibit 127: WRS Health - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources
- 13.5 List of abbreviations
- Exhibit 134: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- Canada
- Mexico
- Increasing prevalence of ophthalmic diseases
- Growing ophthalmology market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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