OPHTHALMIC ULTRASOUND IMAGING SYSTEMS MARKET ANALYSIS

Ophthalmic Ultrasound Imaging Systems MarketSize and Trends

Market Dynamics

Increasing prevalence of eye disease such as uncorrected refractive errors, glaucoma, cataract, ciliary body cysts, neoplasms, and angle trauma are major driving factors for growth of the ophthalmic ultrasound imaging systems market. According to 2017 factsheet by World Health Organization (WHO), around 253 million people across the globe suffered from vision impairment and 36 million are blind and 217 million have moderate to severe vision impairment. Chronic eye diseases, which includes uncorrected refractive errors, un-operated cataract, age related macular degeneration, and glaucoma are main causes of vision loss. This is observed in low- and middle-income countries. According to a study published in the Journal Ophthalmology (2014), around 64.3 million people (aged 40-80 years) in 2013 were affected with glaucoma, which would increase to 76.0 million in 2020 and 111.8 million in 2040. This is expected to aid in growth of the ophthalmic ultrasound imaging systems market. According to population Prospect Report in 2017, the geriatric population (aged 60 years and above) is expected to increase from 900 million in 2017 to 2.1 billion by 2050. Therefore, demand for such imaging products is expected to increase significantly.

Manufacturers are focusing on developing new advanced imaging systems for application in intraocular measurement and anterior segment examination and this is expected to propel growth of the ophthalmic ultrasound imaging systems market. For instance, Quantel Medical, in October 2017, launched next-generation compact touch ophthalmic ultrasound system, which is a 3-in-1 system that combines A scan, B scan, and pachymeter thereby, allows multiple functions. Furthermore, factors such as overall socioeconomic development (better disposable income) in middle income countries China and India, for instance according OECD report China has increased its healthcare spending from 1.3% in 2010 to more than 3.5% in 2016. Moreover, public health awareness programs by governments, increased availability of eye care services, and increased awareness of the general population related to eye health is expected to further aid in growth of the ophthalmic ultrasound imaging systems market.