Diagnostic Ophthalmic Devices Market Overview
Diagnostic Ophthalmic Devices Market size is forecasted to reach $3.9 billion in 2027 and is expected to grow at a CAGR of 5.8% during the forecast period 2022-2027. According to WHO the yearly global costs of productivity losses related to vision impairment from untreated myopia and presbyopia alone are estimated to be US$ 244 billion and US$ 25.4 billion, respectively, due to vision impairment. When imaging equipment including optical coherence tomography, aberrometer, topography system and ophthalmic ultrasound have been deployed to capture the picture or video of the eye in high detail, from the front to the back and from the external appearance to the internal appearance, increasing volumes of data can be used for ocular diagnostics. Many technologically advanced devices that were introduced in recent years have dramatically changed like how physicians diagnose and treat eye diseases such as glaucoma, macular degeneration and diabetic retinopathy. In the field of ophthalmology, technological advancements are coming at a breakneck pace, making it particularly challenging to determine when it is preferable to invest in a product or wait for a new version on the horizon. Near or far vision impairment affects at least 2.2 billion individuals worldwide. Vision impairment may have been avoided or managed in at least 1 billion or nearly half of these cases.
Diagnostic Ophthalmic Devices Market Report Coverage
The report: “Diagnostic Ophthalmic Devices Forecast
(2022-2027)”, by Industry ARC, covers an in-depth analysis of the following
segments of the Diagnostic Ophthalmic Devices Market.
- In terms of regional disparities, the prevalence of distant visual impairment is predicted to be four times higher in low- and middle-income countries than in high-income ones. In terms of near vision, it is believed that more than 80% of people in western, eastern and central Sub-Saharan Africa have uncorrected near vision impairment.
- The reasons for vision impairment in children differ greatly between countries. A congenital cataract is a leading cause in low-income countries, although retinopathy of prematurity is more common in middle-income countries. Uncorrected refractive error is still the largest cause of vision impairment in children in all countries, just as it is in adults.
- The ageing population is frequently linked to an increase in the prevalence of ocular ailments such as refractive errors, cataracts, glaucoma and macular degeneration, all of which will continue to have a significant impact on the global ophthalmic diagnostic equipment market. Furthermore, ocular problems linked to other widely prevalent diseases such as high blood pressure and diabetes are expected to boost the ophthalmic diagnostic equipment market.
Diagnostic Ophthalmic Devices Market Share, By Geography (%) in 2021
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Diagnostic Ophthalmic Devices Market by Product Type
The Global Diagnostic Ophthalmic
Devices Market based on product type can be segmented into Scan Biometers,
Corneal Topography, Fundus Cameras, Ophthalmoscopes, Pachymeters, Perimeters,
Refractors, Retinal imaging devices, Slit lamps, Optical coherence tomographs
(OCT), tonometer and specular microscopes. The OCT accounted for the largest
share of the market in 2021 and is poised to grow at a CAGR of 4.9% during the
forecast period 2022-2027. The invention of optical coherence tomography (OCT)
has greatly enhanced the diagnostic efficacy and workflow of retinal illnesses.
The availability of cross-sectional, high-resolution pictures is crucial for
assessing numerous elements of the retina's structure, ranging from early
subtle changes to late severe disruption. Age-related macular degeneration,
diabetic retinopathy, vascular occlusions, inflammatory disorders and genetic
diseases all benefit from the extensive clinical use of OCT. OCT imaging also
provides for precise tracking of disease progression and therapeutic efficacy,
such as with anti-vascular endothelial growth factor (VEGF) medication.
However, Ophthalmoscopes are forecasted to be the
fastest-growing segment and are forecasted to witness the highest CAGR during
the forecast period 2022-2027. This is owing to the multitude of applications for
the recognition and diagnosis of endocarditis, disseminated candidemia and HIV.
Ophthalmoscopes can also diagnose diabetes and hypertension and are further gaining
ground due to the high prevalence of diabetes.
Diagnostic Ophthalmic Devices Market by Application
The Global Diagnostic Ophthalmic
Devices Market based on Application can be segmented into Retinal Evaluation, Glaucoma
detection, Surgical Evaluation, Refraction Assessment and others. The Retinal
Evaluation accounted for the largest share of the market in 2021 and is poised
to grow at a CAGR of 5.2% during the forecast period 2022-2027. This is owing
to the rising instances of retinal problems globally, owing to lifestyle
changes which cause prolonged stress to the Retina.
detection is expected to be the fastest-growing segment during the forecast
period 2022-2027. This is owing to the rising worldwide prevalence of Glaucoma and
related vision loss. A study by the Glaucoma Research Foundation reveals that over
20 million patients will suffer from Glaucoma within 2040. This has further cemented
the necessity of Glaucoma tests.
Diagnostic Ophthalmic Devices Market by Geography
Diagnostic Ophthalmic Devices Market based on Geography can be segmented into
North America, South America, Europe, Asia-Pacific and Rest of the World. North American Diagnostic Ophthalmic Devices Market
held the maximum share of 28% in 2021. Demographic shifts, the impact of
the frequency of eye disease, technical breakthroughs in the field of
ophthalmology and the expanding elderly population are some of the reasons
driving the market's growth. Roughly 12 million persons aged 40 and up in the
United States suffer from vision impairment, with about a million of them
blind. Globally, the figures are comparable, with the World Health Organization
reporting that over 2.2 billion individuals suffer from eyesight impairments. The rising prevalence of eye diseases is expected to drive market growth during the
However, Asia Pacific is expected to be the fastest-growing segment during the forecast period 2022-2027. The aging population, rising frequency of ocular disorders like as cataracts and glaucoma, technical improvements in handheld devices for detecting glaucoma and macular degeneration and increased R&D efforts are all driving the Asia-Pacific ophthalmic diagnostic instruments market.
Diagnostic Ophthalmic Devices Market Drivers
Emerging Technologies are Driving Growth Opportunities in Ophthalmic Diagnostics
operational efficiency, technologies such as AI, IoT and telemedicine, as well
as portable devices, contribute to the handling of the predicted overwhelming
need for eye screening. A study by Startup Health reveals that Global funding
on Health based technology surpassed $9 billion in 2020, an increase of almost
20% from 2019. Moreover, the prevalence of eye disorders is expected to climb
in the next years as a result of an aging population, changing lifestyles and
an increase in the frequency of chronic diseases. These factors will drive the demand
for ophthalmic diagnosis and monitoring equipment. Launching new, dependable
handheld devices with improved image quality and digital solution features to
expand access to ophthalmology care in developing countries' remote regions.
The global ophthalmology diagnostics market is predicted to rise due to an increasing prevalence of ocular illnesses.
More than 800
million people worldwide have distance vision impairment (myopia and
hypermetropia) or near vision impairment (presbyopia) that could be corrected
with early diagnosis and with a suitable pair of spectacles. An estimated 100
million people have moderate-to-severe distance vision impairment or blindness
that could be corrected with early diagnosis and cataract surgery. Diabetes, particularly Type 2, is
becoming more common and if not detected and treated, it can have a negative
impact on vision. Routine eye exams and proper diabetes management can help
protect people's vision from this condition.
Diagnostic Ophthalmic Devices Market Challenges
Shortage of Experienced Ophthalmic Staff is Impeding Market Growth
lack of experienced ophthalmic staff appears to be the bane of practices across
the developing nations. The U.S. faces a projected shortage of between 37,800 and 124,000 physicians within 12 years, according to The Complexities of Physician Supply and Demand: Projections From 2019 to 2034, a report released by the Association of American Medical Colleges (AAMC). The pool of staff and experienced ophthalmic technicians
are quite small, owing to a combination of low unemployment rates and a lack of
awareness of the job. With the rapid spread of new types of ophthalmic
diseases, there is an increased demand for more knowledgeable healthcare
Diagnostic Ophthalmic Devices Industry Outlook
Product launches, mergers and
acquisitions, joint ventures and R&D activities are key strategies adopted
by players in the Diagnostic Ophthalmic Devices Market. In 2021, the Diagnostic Ophthalmic Devices share is fragmented by the top ten players present in the
market. The Diagnostic Ophthalmic Devices, top 10 companies are:
- Alcon Inc.
- Lumenis Ltd
- Ametek inc
- Zeiss International
- Nidek Co LTD
- Metall Zug Group
- Lumibird Group
- Marco Ophthalmic Inc.
- Topcon Corporation
- In February 2022, Reichert Technologies a business unit of AMETEK Inc. and a global leader in designing, engineering and manufacturing high-quality diagnostic instruments and equipment for ophthalmologists, optometrists and eye care professionals has announced the launch of the Tono-Vera Vet Tonometer with ActiView Positioning System
- In November 2020, NIDEK CO., LTD., a global leader in the design, manufacture and distribution of ophthalmic, optometric and lens edging equipment, has announced the launch of the Mirante SLO model, an addition to the Mirante portfolio of diagnostic multimodal imaging devices.
- In October 2020, Tomey launched a new product. The Tomey TOP-1000 Non-Contact Tonometer is their latest product release and combines soft air-puff tonometry with central corneal thickness (CCT) for correct intraocular pressure (IOP)
Report Code: HCR 31917
Report Code: HCR 56732
Report Code: HCR 0106
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