Global Ophthalmoscopes Market, by Product Type (Direct Inspection and Indirect Inspection), by End User (Hospitals, Eye Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 246.4 Mn in 2023 and is expected to exhibit a CAGR of 4.7% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as partnerships, and this is expected to drive the global ophthalmoscopes market growth. For instance, in March 2021, Skytron, a healthcare safety & efficiency company that specializes in capital equipment, and arthrex inc, a manufacturing invasive surgical technology, announced the partnership to offer a comprehensive array of ophthalmoscopes solutions designed to address the future needs and challenges of operative care facilities.
Global Ophthalmoscopes Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of things from one place to another.
COVID-19 had a positive impact on the global ophthalmoscopes market.For instance, a study titled "Modeling the Impact of COVID-19 on Retina Clinic Performance," released in May 2021, found that during the COVID-19 health emergency, retina clinic volume fell by 62%. The average time from check-in to technician has decreased by 79%, total visit length has decreased by 46%, and time spent in the provider phase of care has decreased by 53%. Thus, the COVID-19 pandemic severely curtailed ophthalmology service clinical activities, thereby impacting the market growth rate in its initial phase.
Global Ophthalmoscopes Market: Key Developments
In March 2022, Alcon, which provides innovative vision products that enhance the quality of life by helping people see better, launched the Clareon family of intraocular lenses (IOLs) in the U.S. Utilizing Alcon’s most advanced IOL material, Clareon can deliver consistent visual outcomes and exceptional clarity that lasts. The Clareon clarity is born out of a glistening-free IOL material that has among the lowest levels of haze and subsurface nanoglistenings (SSNGs) compared to competitor IOLs.
In February 2022, Fujifilm India Pvt Ltd, a medical imaging and diagnostic technologies company, announced its life sciences strategic investment fund managed by the Life Sciences Corporate Venture Capital (LS-CVC), a newly established group within the Fujifilm’s Life Sciences Strategy Headquarters in Tokyo, Japan. Fujifilm is initially investing US$ 60 million to start the fund, targeting cutting-edge biotechnology primarily through partnerships with early-stage companies around the world.
In August 2022, Hoya Corporation, an ophthalmoscopes technology innovation company, announced that it had entered into a strategic joint venture (JV) with Jiangsu Sigo, a China-based plastic manufacturer. The partnership provides Hoya Corporation with access to a wider range of high-quality plastic and polycarbonate finishes, enhancing the company’s existing ophthalmoscopes portfolio, and providing a more sustainable supply chain for customers.
For instance, in July 2022, Bausch + Lomb Corporation, a supplier of contact lenses, lens care products, prescription pharmaceuticals, and intraocular lenses launched Revive custom soft contact lenses, a new family of customizable soft contact lenses in the United States. Revive custom soft lenses are designed to meet the vision needs of patients, especially those having high or unique prescriptions. Such launches are propelling the growth of the market segment.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Ophthalmoscopes Market”- Forecast to 2030, Global Ophthalmoscopes Market, by Product Type (Direct Inspection and Indirect Inspection), by End User (Hospitals, Eye Clinics, and 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/ophthalmoscopes-market-4157
Key Takeaways of the Global Ophthalmoscopes Market:
- The global ophthalmoscopes market is expected to exhibit a CAGR of 4.7% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global ophthalmoscopes market.
- Among End User, Hospitals is expected to hold a dominant position in the global ophthalmoscopes market during the forecast period, owing to hospitals are Partnership with diagnostic labrotary in the field of ophthalmoscopes. For instance, in November 2021, Neuberg Diagnostics Private Limited, a diagnostic laboratory in India, expanded its presence in India with the inauguration of a new lab in Kerala in partnership with Kochi government hospital. It also set up a Clinical Laboratory Improvement Amendments (CLIA)-approved molecular and genomic lab in the USA.
- Among region, North America is expected to be the dominant region in the global ophthalmoscopes market, owing to the key players focusing on inorganic strategies such as definitive agreements. For instance, In July 2021, Beckman Coulter, a clinical diagnostics company, announced that it has entered into definitive agreements with Quidel Corporation, a manufacturer of diagnostic healthcare products in the U.S., to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers. Under the terms of the agreements, Quidel will continue to manufacture and supply certain components to Beckman Coulter related to the assay, and Beckman Coulter will exclusively manufacture and sell to customers the BNP assay currently sold as TRIAGE BNP by Quidel, under the brand name Access BNP.
