According to The Insight Partners market research study titled 'Ophthalmoscopes Market to 2027 - Global Analysis and Forecasts by Type, Application, End User and Geography. The global ophthalmoscopes market is expected to reach US$ 322.13 Mn in 2027 from US$ 216.79 in 2018. The market is estimated to grow with a CAGR of 4.6% from 2019-2027. The report highlights the trends prevalent in the global ophthalmoscopes market and the factors driving the market along with those that act as challenges to its growth.
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Global ophthalmoscopes market, based on type, application, and end user. The market based on the type segment is classified as direct ophthalmoscopes and indirect ophthalmoscopes. Based on the application, the market is classified as glaucoma, diabetes eye diseases, retinal diseases and others. Similarly, on the basis of the end user the market is classified is hospitals, eye clinics and ambulatory surgical clinics. Based on the application, glaucoma is the largest contributor for the growth of the ophthalmoscopes market. Likewise, the direct ophthalmoscopes is the largest contributor by type for the market.
The market for ophthalmoscopes is expected to grow significantly due to factor as rising prevalence of eye diseases in developing and developed nations, significantly growing elderly population and increasing prevalence of glaucoma in individuals are likely to drive the growth of the market in the forecasted period. However, the challenges associated with retinal examination may show some impact to the growth of the market.
The major players operating in the ophthalmoscopes market include, Welch Allyn, Heine USA Ltd., Iridex., Carl Zeiss Meditec AG, American Diagnostic Corporation, Honsun, Halma plc, Lumenis and Guangzhou Bisen Medical Co., Limited among others. The market is has provided inorganic growth strategies to these companies by various market consolidations. For instance, in December 2017 Heine Optotechnik GmbH & Co. KG announced a new partnership with Midmark Corp. to provide customers in the United States with three types of high quality diagnostic instruments: otoscopes, ophthalmoscopes and sphygmomanometers.
Market Insights
Rising Prevalence of Eye Diseases in Developing and Developed Nations
The prevalence of diabetes retinopathy, cataract, conjunctivitis, retinal disorders and age-relate macular degeneration are said to increase with the rising ageing population. In addition, findings also reveals that children are also more prone to develop eye disorders such as glaucoma, conjunctivitis and night blindness among others. Vision loss due to eye diseases is a major health problem, which immensely affects the quality of life. In 2015, across the globe approximately 34.3 million people were registered as blind, an additional around 24.3 million had severe vision impairment, 214 million had moderate vision impairment, and 663 million had near vision impairment. Vision loss is the third largest cause of impairment after anaemia and hearing loss. Cataract is the other most commonly observed eye disorder that is found in the developing nations were the access to the qualified professionals are less. Therefore, the cataract is responsible for more than 50% of the cases of blindness in some of the areas which is likely to increase the demand for the ophthalmologists to grow. Thus, owing to the above mentioned factors the market for the ophthalmoscopes is likely to grow in the coming future.
Healthcare Market Across the Globes Owes Growth Opportunities
The rise in the prevalence of the vision impairment and other eye diseases are leading to the increasing number of patients for diagnosis and treatments. The rise in the diagnosis and treatments are rowing due to the rising awareness and change in the healthcare facilities and services. The technological advancements are driving more research and developments across the medical device industries. Owing to the advancement in the medical device industry, the healthcare industry has witnessed significant growth due to transformations during the last few years. Various technological advancements have been witnessed in the industry such as, scalp cooling technology, wearable contacts and use of 3D visualization for surgeries. Countries across the globe have been preferring advanced technologies in healthcare. With a need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being preferred to in the healthcare systems in the emerging economies. The increase in ageing population, incidences of chronic illnesses and pediatric care are the primary factors driving the growth of healthcare sector.
The report segments the global ophthalmoscopes market as follows:
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
- Europe
- France
- Germany
- U.K
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- South & Central America
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