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), by End User (Hospitals, Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of organic growth strategies such as technological advancements such as incorporation of Optical Coherence Tomography (OCT) with artificial intelligence (AI) by the key players in the market is expected to drive the market growth over the forecast period. For instance, in August 2021, Abbott's latest OCT imaging platform, driven by the Ultreon Software, has been approved by the U.S. Food and Drug Administration (FDA). This cutting-edge imaging software combines OCT with artificial intelligence (AI) to give physicians a more complete picture of coronary blood flow and blockages, assisting in decision-making and determining the optimum treatment approach.
Global Ophthalmic Diagnostics Equipment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Due to healthcare professionals' involvement with COVID-19-related patients and the significant drop in clinic visits as a result of the lockdowns and restrictions implemented to stop the disease from spreading, COVID-19 had a negative impact on the industry of ophthalmic diagnostic equipment.
As a result, fewer hospitals and clinics performed fewer elective eye surgeries each week.
Global Ophthalmic Diagnostics Equipment Market: Key Developments
In 2022, Alcon, an American Swiss medical company specializing in eye care products, announced that they have acquired Ivantis Inc., a company involved in expanding patient treatment and improving outcomes through innovative minimally invasive glaucoma surgical (MIGS) solutions, to help ensure continuity of the business and relationships with existing customers and allowing Alcon to begin its future growth plans to bring Hydrus Microstent, a surgical therapy for mild to moderate open-angle glaucoma, to more international markets.
Browse 42 Market Data Tables and 44 Figures spread through 203 Pages and in-depth TOC on “Global Ophthalmic Diagnostics Equipment Market”- Forecast to 2030, Global Ophthalmic Diagnostics Equipment Market, Product Type (Fundus Cameras, Retinal Ultrasound Imaging Systems, Refractors, Slit Lamps, Perimeters, Ophthalmoscopes, Tonometer, Optical Coherence Tomography (OCT), Corneal Topography Systems), by End User (Hospitals, Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ophthalmic-diagnostics-equipment-market-3207
Moreover, increase in the product launch by key market player is expected to drive the growth of the market. For instance, in May 2020, Icare USA, a company involved in providing eye doctors with the latest solutions for comprehensive screening, diagnostics and monitoring of glaucoma, diabetic retinopathy, and macular degeneration (AMD), launched a new confocal fundus system for retinal imaging and a hand-held tonometer to portably measure IOP (Intraocular pressure).
Key Takeaways of the Global Ophthalmic Diagnostics Equipment Market:
- The global ophthalmic diagnostics equipment market is expected to exhibit a CAGR of 6.2 % during the forecast period, owing to the increasing in the prevalence is eye related diseases like cataract. For instance, according to PubMed publication, a free full-text archive of biomedical and life sciences journal, the cases of cataract increase from 7.8 million in 2001 to 8.3 million in 2020.
- 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.
- Major 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.
