Ophthalmoscopes Market to Grow at a CAGR of 4.6% to reach US$ 322.13 Mn from 2018 to 2027

Ophthalmoscopes Market to 2027- Global Analysis and Forecasts By Type (Indirect Ophthalmoscopes and Direct Ophthalmoscopes), Application (Glaucoma, Retinal Diseases, Diabetes Eye Diseases and Others), End User (Hospitals, Eye Clinics and Others), and Geography

Publication Month : Mar 2019

  • Report Code : TIPRE00002861
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 143
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The ophthalmoscopes market was valued at US$ 216.79 million in 2018 and it is projected to reach US$ 322.13 million in 2027; it is expected to grow at a CAGR of 4.6% from 2019 to 2027.

Ophthalmoscopes are small equipment that allow ophthalmologists to diagnose the defect inside the patient's eye. The device contains a small beam of light that falls directly on the patient's pupil and helps doctor to detect abnormalities on the lens of the eye, optic disc, vitreous humor, and the retina. The growth of the global ophthalmoscopes market is attributed to the rising prevalence of the eye diseases, growing geriatric population and increasing prevalence of the diabetes. However, challenges associated with retinal examination is the major factor hindering the market growth.

The global ophthalmoscopes market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Lucrative Regions for Global Ophthalmoscopes Market

Lucrative Regions for Global Ophthalmoscopes Market
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Market Insights

Increasing Prevalence of Glaucoma in Individuals to Drive Global Ophthalmoscopes Market Growth

Glaucoma is a very misunderstood diseases and people often neglect its severity. Glaucoma is a disorder or a disease that damages the eye’s optic nerve. The condition occurs when a layer of fluid fills up on the outer side of the eye, creating a pressure and hence leading to damage to optic nerves. Glaucoma often leads to vision loss, eventually causing blindness. As per the WHO it is stated that glaucoma is the second cause of the blindness in the world it estimates that 4.5 million people worldwide are blind due to glaucoma. In the United States, around 120,000 are blind from glaucoma, accounting for 9% to 12% of all cases of blindness. The geriatric population is the most susceptible to vision loss due to glaucoma However, if it is detected and treated at an early stage, one can avoid vision loss. The worldwide age- standardized prevalence of glaucoma in the population aged 40 years and above is estimated to be around 3·5%.

There are two major types of glaucoma that are open-angle glaucoma and closed-angle glaucoma. Open-angle glaucoma is the most common form and is denoted by various risk factors such as, sub-Saharan African ethnic origin, elevated intraocular pressure, older age, positive family history, and high myopia. Whereas, the risk factors for closed-angle glaucoma include, East Asian ethnic origin, hyperopia and older age.

According to the Glaucoma Research Foundation, currently there are around 3 million people with glaucoma in the United States. The number is expected to reach up to 4.2 million by 2030, with an increase of almost 58 percent, as per the forecasts given by, The National Eye Institute. Moreover, among African American and Latino populations, glaucoma is more prevalent, being 6 to 8 times more common in African Americans than in the Caucasian population. Hence, the rise in the cases of blindness owing to glaucoma is expected to drive the growth of the ophthalmoscopes market significantly during the forecast years.

Type -Based Insights

In terms of type, the global ophthalmoscopes market is segmented into indirect ophthalmoscopes and direct ophthalmoscopes. In 2018, the direct ophthalmoscopes segment held largest share of the market. However, the indirect ophthalmoscopes segment is estimated to register the highest CAGR during the forecast period.

Global Ophthalmoscopes Market, by Type – 2018 and 2027

Global Ophthalmoscopes Market, by Type – 2018 and 2027
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Application-Based Insights

Based on application, the global ophthalmoscopes market is segmented into glaucoma, diabetes eye diseases, retinal diseases and others. The glaucoma segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.

End User-Based Insights

In terms of end user, the global ophthalmoscopes market is segmented into hospitals, eye clinics and ambulatory clinics. The hospitals segment held the largest share of the market in 2018. However, the eye clinics segment is estimated to grow at the highest CAGR during the forecast period.

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Ophthalmoscopes Market: Strategic Insights

Market Size Value inUS$ 216.79 Million in 2018
Market Size Value byUS$ 322.13 Million by 2027
Growth rateCAGR of 4.6% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The global ophthalmoscopes market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Global Ophthalmoscopes Market – by Type

  • Indirect Ophthalmoscopes
  • Direct Ophthalmoscopes

Global Ophthalmoscopes Market – by Application

  • Glaucoma
  • Retinal Diseases
  • Diabetes Eye Diseases
  • Others

Global Ophthalmoscopes Market – by End- User

  • Hospitals
  • Eye Clinics
  • Others

Global Ophthalmoscopes Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Carl Zeiss Meditec AG
  • Welch Allyn
  • Heine Optotechnik GmBH & Co.KG
  • Iridex Corporation
  • American Diagnostic Corporation
  • Halma Plc
  • Honsun
  • Guangzhou Bisen Medical Co., Limited
  • Lumenis
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Application , End User , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Ophthalmoscopes Market

  1. Carl Zeiss Meditec AG
  2. Welch Allyn
  3. Heine Optotechnik GmBH & Co.KG
  4. Iridex Corporation
  5. American Diagnostic Corporation
  6. Halma Plc
  7. Honsun
  8. Guangzhou Bisen Medical Co., Limited
  9. Lumenis

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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