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The North America optometry software market size is estimated to grow by USD 576.62 million at a CAGR of 6.67% between 2023 and 2028. The market's growth is influenced by various factors, including the rising incidence of ophthalmic diseases, the advantages offered by optometry software, and the increasing number of initiatives aimed at raising awareness and providing customer training. As ophthalmic diseases become more prevalent, the demand for efficient and accurate optometry solutions rises, driving the market forward. Optometry software plays a crucial role in enhancing patient care and practice management, further fueling market growth. Additionally, initiatives focused on educating both professionals and patients about eye health and the benefits of optometry software contribute to market expansion. These factors combined create a favorable environment for the market to grow and innovate, meeting the evolving needs of the healthcare industry.
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The cloud-based segment is estimated to witness significant growth during the forecast period. Features such as quick deployment, improved flexibility and scalability, real-time data visibility, and customization capabilities is fuelling the demand for cloud-based deployments. In addition, the use of cloud-based deployment enables automation to integrate with other eyecare software solutions, such as online booking software and Internet-based payment and billing software.
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The cloud-based segment was the largest segment and was valued at USD 913.24 million in 2018. Moreover, all such functionalities are offered by service providers with flexible payment options, such as monthly subscriptions and pay-as-you-go models. Therefore, the deployment of cloud-based optometry software solutions is cost-effective and economical compared with the on-premise deployment model. Due to such advantages, it is expected to fuel the growth of this segment which in turn drives the market growth during the forecast period.
The market is driven by the increasing prevalence of Chronic ophthalmological conditions like Dry eye among an Aging population. The adoption of Electronic health and Remote patient monitoring technologies, including AI-based software and Cloud-based solutions, is on the rise. Mobile applications are enhancing access to eye care services, connecting patients with Optometrists and facilitating the management of Patient data and Patient records. Optometry clinics are leveraging Telemedicine services to provide care for Refractive errors and other conditions, integrating solutions like Eyefinity, Crystal PM, and Maxim Eyes. Specialist centers are also utilizing Cloudbased EMR systems such as Revolution EHR and Liquid EHR to streamline Health records data management and improve patient care. Our researchers analyzed the data with 2023 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.
The increasing prevalence of ophthalmic diseases is a key factor driving the growth of the 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 market during the forecast period.
The growing ophthalmology market is the primary trend in the market. 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 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 market 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 market during the forecast period.
Significant Market Challenge
The rising medical data privacy concerns is a major challenge to the 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 market during the forecast period.
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.
Market Customer Landscape
Companies 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.
Compulink Healthcare Solutions - 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 research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Optometry Software Market in Europe: Optometry Software Market in Europe by End-user, and Type - Forecast and Analysis
Contact Lenses Market: Contact Lenses Market by Product, Distribution Channel and Geography - Forecast and Analysis
Soft Contact Lens Market: Soft Contact Lens Market by Product, Application and Geography - Forecast and Analysis
The market is witnessing growth driven by key players such as Practice Mate, MaximEyes, and EyeMD. These companies are expanding their reach through Expansions and Joint ventures, implementing effective Expansion strategies. The market is characterized by the adoption of advanced EHR software to manage various eye conditions, including Retinal detachment, Uveitis, and Astigmatism. These systems help practitioners access Prescription history and track IOP measurement for better patient care. EMRs play a vital role, with both Inpatient EHR and Ambulatory EHR systems being widely used. Doctor soft is also gaining prominence, reflecting the market's focus on efficient and comprehensive software solutions.
Market Scope | |
Report Coverage | Details |
Page number | 140 |
Base year | 2023 |
Historic period | 2018-2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 6.67% |
Market Growth 2024-2028 | USD 576.62 million |
Market structure | Fragmented |
YoY growth 2023-2024(%) | 6.32 |
Competitive landscape | Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Barti, Compulink Healthcare Solutions, Doctorsoft Corp., EssilorLuxottica, EverCommerce Inc., Eye Care Leaders, First Insight Corp., Health Innovation Technologies Inc., iTRUST.IO LLC , LiquidEHR Inc., MacPractice, Nextech Systems LLC, Optical POS Software LLC, Optometric Services Inc., Solutionreach Inc., SOTH Inc., Vision Service Plan, Weave Communications Inc., WINK Technologies Inc., and WRS Health |
Market dynamics |
Parent market analysis, Market Forecasting, 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 the market forecast period |
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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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