SEATTLE, Sept. 21, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global ophthalmic diagnostics equipment market is estimated to be valued at US$ 2,502.6 million in 2022 and is expected to exhibit a CAGR of 6.2 % during the forecast period (2022-2030).
Key Trends and Analysis of the Global Ophthalmic Diagnostics Equipment Market:
Increase in the prevalence of diabetic retinopathy worldwide is expected to drive the growth of global ophthalmic diagnostics equipment market. For instance, according to the American academy of ophthalmology, published on April 23, 2021, the number of adults worldwide with DR (Diabetic Retinopathy) was estimated to be 103.12 million, in 2020.
Market Dynamics
Increasing R&D (research and developments) activities for novel device development related to vision error and rise in awareness related to devices used in the field of ophthalmology is expected to propel the growth of the market. Moreover, increase in prevalence of eye disorders, such as diabetic retinopathy, cataracts, and age-related macular degeneration (AMD), increase in elderly population is also expected to provide lucrative growth to the global ophthalmic diagnostics equipment market. For instance, according to the World Health Organization (WHO) as on 4 October 2021, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2050, the world's population of people aged 60 years and older will be 2.1 billion.
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Key Market Takeaways:
The global ophthalmic diagnostics equipment market is expected to exhibit a CAGR of 6.2 % during the forecast period, owing to organic growth strategy such as new product launch and approval by key market player. For instance, on 30 July 2020, LKC Technologies, a medical device company, announced that their RETeval device has received approval from the Brazilian Health Regulatory Agency (Anvisa), to diagnose patients with diabetic retinopathy, glaucoma, CRVO, pediatric nystagmus and inherited diseases.
Among product type, the optical coherence tomography (OCT) segment dominated the market and accounted for the largest revenue share in 2021.
Among regions, North America is estimated to account for the largest market share in the global Ophthalmic Diagnostics Equipment market over the forecast period.
Key players operating in the global ophthalmic diagnostics equipment market include Notal Vision, Inc., Topcon Corporation, Bausch + Lomb, ZEISS International, Ellex, Quantel Medical, Nidek Co., Ltd., Haag-Streit Group, Halma plc., Coburn Technologies Inc., and Kowa Company Ltd.
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Detailed Segmentation:
Global Ophthalmic Diagnostics Equipment Market, By Product Type:
- Fundus Cameras
- Retinal Ultrasound Imaging Systems
- Refractors
- Slit Lamps
- Perimeters
- Ophthalmoscopes
- Tonometer
- Optical Coherence Tomography (OCT)
- Corneal Topography Systems
Global Ophthalmic Diagnostics Equipment Market, By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Global Ophthalmic Diagnostics Equipment Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- By Country:
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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SOURCE Coherent Market Insights