Ophthalmic Ultrasound Imaging Systems Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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Increasing prevalence of eye disease such as uncorrected refractive errors, glaucoma, cataract, ciliary body cysts, neoplasms, and angle trauma are major driving factors for growth of the ophthalmic ultrasound imaging systems market. According to 2017 factsheet by World Health Organization (WHO), around 253 million people across the globe suffered from vision impairment and 36 million are blind and 217 million have moderate to severe vision impairment. Chronic eye diseases, which includes uncorrected refractive errors, un-operated cataract, age related macular degeneration, and glaucoma are main causes of vision loss. This is observed in low- and middle-income countries. According to a study published in the Journal Ophthalmology (2014), around 64.3 million people (aged 40-80 years) in 2013 were affected with glaucoma, which would increase to 76.0 million in 2020 and 111.8 million in 2040. This is expected to aid in growth of the ophthalmic ultrasound imaging systems market. According to population Prospect Report in 2017, the geriatric population (aged 60 years and above) is expected to increase from 900 million in 2017 to 2.1 billion by 2050. Therefore, demand for such imaging products is expected to increase significantly.
Manufacturers are focusing on developing new advanced imaging systems for application in intraocular measurement and anterior segment examination and this is expected to propel growth of the ophthalmic ultrasound imaging systems market. For instance, Quantel Medical, in October 2017, launched next-generation compact touch ophthalmic ultrasound system, which is a 3-in-1 system that combines A scan, B scan, and pachymeter thereby, allows multiple functions. Furthermore, factors such as overall socioeconomic development (better disposable income) in middle income countries China and India, for instance according OECD report China has increased its healthcare spending from 1.3% in 2010 to more than 3.5% in 2016. Moreover, public health awareness programs by governments, increased availability of eye care services, and increased awareness of the general population related to eye health is expected to further aid in growth of the ophthalmic ultrasound imaging systems market.
However, increasing advancement and adoption of other diagnostic tools is expected to be a factor restraining growth of the ophthalmic ultrasound imaging systems market. Ophthalmic surgeons and practitioner prefer optical biometry devices that utilize partial coherence interferometry. Unlike ophthalmic ultrasound imaging systems, which requires significant training for the examiner, in order to avoid errors in handling, optical biometry devices (IOL Master 500 and IOL Master 700 from Carl Zeiss Meditech) are convenient and easy to handle, due to automation and it is proved to be more accurate.
On the basis of regions, ophthalmic ultrasound imaging systems market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be dominant in the ophthalmic ultrasound imaging systems market over forecasted period. This is due to better healthcare infrastructure and high spending on healthcare. According to study published by American Academy of Ophthalmology in 2014, each year 2 million people undergoes cataract surgery in the U.S., 50 million in projected to suffer from cataract in 2050. Mean age to undergo cataract surgeries also falling from 70 to 50 and above. Ocular trauma is also largely observed due to firearms and related injuries. According to data given by Glaucoma Research Foundation, around 3 million people in the U.S. have glaucoma, however, only half of those know they have it. Europe would be another lucrative ophthalmic ultrasound imaging systems market, due to high presence geriatric population (25 million) in the region. Region such as Asia Pacific with highest cases of uncorrected refractive errors and glaucoma, worldwide would be potentially attractive ophthalmic ultrasound imaging systems market in the near future.
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Key players operating in the ophthalmic ultrasound imaging systems market are Sonomed Escalon, Quantel Medical, Carl Zeiss Meditech AG, Ellex Medical Lasers Ltd., DGH Technology, Inc NIDEK CO., LTD., MEDA Co., Ltd, Halma plc, Micro Medical Devices, Inc., Optos plc, and Sonogage, Inc.
Companies are launching innovative devices, which could cater different needs in single devices utilizing A scan, B scan and pachymeter. For instance, Quantel Medical, in October 2017, launched next-generation compact touch ophthalmic ultrasound systems, which has probe for A scan, B scan, and pachymeter thereby allows multiple functions. Ellex Medical Lasers Limited, in 2016, launched its portable ultrasound platform Eye One, which is more convenient due to less size and has 40% low weight than conventional platform.
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