Optometry Software Market in Europe by End-user, and Type - Forecast and Analysis 2023-2027

Europe Optometry Software Market Forecast 2023-2027

The optometry software market in Europe is forecast to increase by USD 291.95 million at a CAGR of 6.68% between 2022 and 2027. The market is driven by the expanding ophthalmology sector and the rising incidence of eye-related conditions across the region. Optometry software offers numerous benefits, including enhanced patient management and streamlined practice workflows, driving its adoption among eye care professionals in Europe. This market growth reflects the increasing demand for advanced software solutions to meet the evolving needs of optometrists and improve patient care in the region. This market research and growth report 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 Europe During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is evolving rapidly, with optometrists increasingly relying on electronic health records and cloud-based software solutions to streamline administrative tasks and enhance patient care. Advanced technology such as AI-based software and mobile applications facilitates scheduling, billing, and treatment plans while ensuring secure data access via cloud-based storage. Optometry clinics and ophthalmologists benefit from user-friendly interfaces that enable efficient process management, inventory tracking, and patient progress monitoring. With remote patient monitoring capabilities and web browser accessibility, this market caters to the diverse needs of optometry clinics, nursing homes, and ophthalmologists across Europe. 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 Market Drivers

The growing ophthalmology market is a key factor driving the growth of the market. The ophthalmology market in Europe has witnessed rapid growth in the last ten years. The growing prevalence of eye diseases and technological advancements in the field of ophthalmology is driving the growth of the ophthalmology market in Europe. According to the European Society of Ophthalmology, myopia is expected to overtake cataracts as Europe's most common cause of permanent vision loss and blindness. The rising focus on research and development (R&D) by manufacturers on developing innovative treatments is further driving the growth of the ophthalmology market in Europe.

Additionally, rising medical costs and surging healthcare spending, along with the increase in demand for more precision therapies, will augment the growth of the ophthalmology market in Europe, which, in turn, will increase the demand for software to track patient treatments, prescriptions for medicines, glasses, and 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 can all be evaluated using software designed for managing optometry operations, including financial and client-related data. Thus, the growth of the ophthalmology market in Europe will boost the growth of the market in the region during the forecast period.

Significant Market Trends

The increasing adoption of advanced technologies in the eyecare industry is the primary trend in the market's growth. AI is emerging in the eyecare industry, and its acceptance is increasing across eyecare hospitals. With the help of AI, eye care professionals can get efficient diagnosis charts and insights quickly. With the help of new technologies, healthcare organizations can offer high-quality products and treatments. Therefore, various ophthalmology hospitals are adopting new technologies such as optometry software. As training data is understood by AI algorithms, the systems become more accurate. This allows people to get previously unattainable insights into treatment variability, care processes, diagnostics, and patient outcomes.

AI is mostly used in ophthalmology to treat conditions that have a high incidence, such as diabetic retinopathy, age-related macular degeneration, glaucoma, retinopathy of prematurity, age-related or congenital cataract, and a small number of cases related to retinal vein occlusion. On the basis of morphological datasets with millions of data points, a number of image-related diagnostic approaches have started to provide clinical ophthalmologists with unprecedented insights into eye diseases. Thus, such advancements in the eyecare industry will positively impact the growth of the market in Europe during the forecast period.

Major Market Challenges

The complexities associated with integration are a major challenge to the growth of the market. The implementation of optometry software can be an expensive process, and the time taken for enterprise-level implementation can range from a few months to a few years. For instance, the implementation of optometry EHR systems in the ophthalmology industry is expected to take three years to complete. The delay in implementation results in the optometry clinic spending twice the amount of the actual cost. Owing to moderate investments and the time that is taken, it is imperative for optometry clinics to ensure that they plan adequately before implementing new technologies and software.

The implementation of advanced technologies and the replacement of legacy infrastructure also pose a challenge. The integration of digital records with on-premises medical services and bookkeeping records takes a considerable amount of time. If optometry clinics and eye hospitals have monolithic application systems, the integration of new software programs into existing architecture is extremely difficult and time-consuming. Large-scale training programs are also required to educate users and the workforce in the healthcare industry to work on the updated systems efficiently. Thus, such factors will impede the growth of the market in Europe during the forecast period.

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.

Customer Landscape

Who are the Major Market Companies?

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.

Accra Solutions Inc - The company offers optometry software namely, Filopto. Also, under this segment, the company is engaged in the development and manufacture of Eye Care Practice Management Software.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Avebury Computing Ltd.
• DoctorConnect
• DrChrono Inc.
• Evolutio Care Innovations Ltd.
• First Insight Corp.
• Generation.NET Ltd.
• iTRUST
• LiquidEHR Inc.
• Ocuco Ltd.
• OD Link
• OD Online
• Optinet Ltd.
• Optisoft Ltd.
• Optix-Software Ltd.
• Smart Optometry Ltd.

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.

Market Segmentation

This report extensively covers market segmentation by end-user (hospitals, nursing homes, and others) and type (cloud-based and web-based). In the market, optometrists rely on advanced technology to streamline administrative tasks and manage chronic ophthalmological conditions effectively. Electronic health records and cloud-based software solutions enable remote patient monitoring and digitalization of patient data. Optometrists benefit from AI-based software and mobile applications that assist in creating treatment plans and accessing patient records securely through cloud-based storage. With features like web browser accessibility and user-friendly interfaces, scheduling appointments, tracking inventory, and monitoring revenue become seamless processes. Optometry software empowers optometrists with the technical expertise needed for efficient process management, ensuring optimal patient care and practice efficiency throughout Europe.

By End-User

The market share growth by the hospitals segment will be significant during the forecast period.  Hospitals use this software for EHRs and EMRs, and to help diagnose and treat eye and vision conditions ranging from astigmatism to glaucoma. The growing adoption of EHR systems in hospitals is one of the prominent drivers for the adoption of optometry software in hospitals. EHRs help administrators in managing patients' records electronically, whereas the adoption of optometry software also helps in billing and accounting and processing. Hence, the combination of both EHR and optometry software will aid ophthalmology service providers in managing the entire business process electronically. 

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The hospitals segment was valued at USD 395.33 million in 2017 and continue to grow by 2021. This is an important end-user segment that generates significant market revenue in the optometry software market in Europe. The demand for this software grew significantly in hospitals, primarily during the second half of 2020. Many companies in the market entered into long-term partnerships with hospitals to enhance the patient experience, streamline operations, and maintain other processes during the COVID-19 pandemic. This trend is expected to continue, which will foster the growth of the market in Europe through the hospital segment during the forecast period.

Market Analyst Overview

The market is experiencing a significant shift towards digitalization, driven by the need for efficient management of patient records and administrative tasks. With a rise in chronic ophthalmological conditions, there's a growing demand for electronic health records and cloud-based software solutions for remote patient monitoring. Technical expertise is crucial for implementing Advanced Technology and AI-based software, including mobile applications for treatment plans and cloud-based storage for secure data access. Optometry practices are increasingly relying on web browser platforms for scheduling appointments, tracking inventory, managing inventory, monitoring revenue, and tracking patient progress. The market emphasizes a user-friendly interface and efficient process management to enhance operational efficiency and patient care.

The Global Optometry Software Market is evolving rapidly to address the needs of an aging population and the rising prevalence of conditions like dry eye. However, challenges persist, including a lack of awareness, high costs, and the need for skilled personnel. Industry associations are working closely with software developers to overcome these hurdles and promote cloud-based solutions for diagnosing eye diseases and managing patient records. These solutions offer benefits such as automated backup, multiple user access, and user-friendly interfaces. While on-premise options are available for incrementally updated systems, many practices are opting for cloud-hosted solutions, which offer remote access, no upfront costs, and efficient management of patient records, referrals, and contact lenses.

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 
  • Hospitals
  • Nursing homes
  • Others

• Type Outlook
  • Cloud-based
  • Web-based

Market Scope
Report Coverage	Details
Page number	144
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.68%
Market growth 2023-2027	USD 291.95 million
Market structure	Fragmented
YoY growth 2022-2023(%)	5.91
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Accra Solutions Inc., Avebury Computing Ltd., DoctorConnect, DrChrono Inc., Evolutio Care Innovations Ltd., First Insight Corp., Generation.NET Ltd., iTRUST, LiquidEHR Inc., Ocuco Ltd., OD Link, OD Online, Optinet Ltd., Optisoft Ltd., Optix-Software Ltd., Smart Optometry Ltd., Thomson-Software Solutions, Vision Plus PMS Ltd., XEYEX Ltd., and Yocale Network Corp.
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.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size in Europe and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across Europe
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of the key companies

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