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

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

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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

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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.

Strategic Insights

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