The global Ophthalmic Diagnostic Devices Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 6.1% during the review period (2022 to 2027)
Ophthalmic Diagnostic Devices Market Overview
Ophthalmology is a branch of medical science that deals with the structure, function, and several eye diseases. Ophthalmic devices are medical kit designed for diagnosis, surgery, and vision correction. These devices gain improved importance and adoption due to high prevalence of several ophthalmic diseases such as glaucoma, cataract, and other vision-related issues. Growth in prevalence of ophthalmic diseases such as cataract and glaucoma is a key factor that significantly drives the progress of the global ophthalmic devices market. In addition, surge in penetration of digital devices, contains laptops, smartphones, and computers, e-readers; fast technological advancements such as introduction of intraocular lenses (IOLs); and growth in focus on customer training and education among eye care professionals regarding eye diseases and associated complications notably contribute toward the progress of the global market. Also, increase in R&D activities for novel devices development related to vision error and rise in awareness related to devices used in the field of ophthalmology are probable to propel the market growth. Still, low awareness about eye-related diseases and dearth of skilled professionals are expected to hamper the progress of the market. On the contrary, the emerging countries such as China and India possess high progress potential, owing to the improving healthcare infrastructure in these countries. Technological advancements have enabled accurate diagnosis and improved treatment of ophthalmic disorders. Progressions in medications, diagnostic devices, laser technology, and surgical techniques, have enabled enhanced handling of cataract & macular degeneration, glaucoma, and dry eye disease. Minimally invasive surgeries, such as LASIK surgery, multi-wavelength diabetic retinopathy treatment, ultrasound phacoemulsification, and femtosecond laser surgery are probable to increase the usage of ophthalmic devices. These surgeries are accompanied by improved patient outcomes and faster recovery rates.
Industry News
February 2021 - Reichert Technologies, a business unit of AMETEK Inc., declared the launch of the Tono-Vera Vet Tonometer with ActiView Positioning System in North America. It features the advanced, patent-pending ActiView Positioning System that displays a full-color view of the eye that guides the user to the apex of the cornea.
November 2020 - NIDEK CO., LTD., an international leader in the design and distribution of ophthalmic and lens edging equipment, declared the launch of the Mirante SLO (Scanning Laser Ophthalmoscope) model, which is an add on to the Mirante portfolio of diagnostic multimodal imaging devices.
What are the major Applications, Types and Regions for Ophthalmic Diagnostic Devices Market?
By Type, it is segmented int
- Ophthalmic OCT
- Automatic Optometry Unit
- Ophthalmic UBM
- Others
By Applications it is segmented into
- Hospital
- Eye Clinic
- Private Physical Examination Center
- Others
Ophthalmic Diagnostic Devices Market Regional Analysis
North America produced a revenue of USD 907.2 million in 2021 and is anticipated to hold the main share in this market. High adoption of advanced ophthalmology diagnostic instruments, growing awareness regarding ocular disorders, and growing prevalence of refractive error disorders are estimated to drive the ophthalmic diagnostic devices market in the region. An article published in the Journal of Present Ophthalmology estimated that around 35.1% of individuals in the U.S. below 50 years have myopia. Also, the increasing prevalence of cataract and myopia is estimated to augment the market in this region in the forthcoming years.
On the other hand, as of 2021, Asia-Pacific is probable to raise at the highest rate in terms of ophthalmic diagnostic devices market sales. This is attributed to the growing geriatric population and a high prevalence of cataract surgeries in countries such as Japan, China, and India. Growing awareness regarding ocular disorders and rising accessibility of ophthalmic devices are some of the predominant factors augmenting the ophthalmology diagnostic devices market growth in the region. Alternatively, in the European countries such as the U.K., France, and Germany, growing adoption of technologically advanced ophthalmic devices is projected to surge the market revenue. Latin America and the Middle East and Africa held a comparatively smaller share in the market. Equally, Latin America is anticipated to exhibit steady growth in the ophthalmic diagnostic equipment market during the forecast period.
North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Ophthalmic Diagnostic Devices Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Ophthalmic Diagnostic Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Ophthalmic Diagnostic Devices Market Report Scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 6.1% during the review period (2022 to 2027).
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By Type
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- Ophthalmic OCT
- Automatic Optometry Unit
- Ophthalmic UBM
- Others
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By Application
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- Hospital
- Eye Clinic
- Private Physical Examination Center
- Others
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By Companies
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Zeiss, Haag Streit, Topcon, Nidek, Essilor, Ziemer, Canon, Gulden Ophthalmics, Optovue, Quest Medical, Phoenix DeVentures, EyeKon Medical, FCI Ophthalmics, Atrion, Sterimedix, OPIA, IRIDEX, Jardon Eye Prosthetics
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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103
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Ophthalmic Diagnostic Devices Report
- Evaluate Ophthalmic Diagnostic Devices market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Ophthalmic Diagnostic Devices market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
FAQ -
What is the study period of this market?
The Ophthalmic Diagnostic Devices Market is studied from 2017 - 2027.
What is the growth rate of Ophthalmic Diagnostic Devices Market?
The Ophthalmic Diagnostic Devices Market is growing at a CAGR of 6.1% over the next 5 years.
What regions does this Ophthalmic Diagnostic Devices Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
