Ophthalmic Ultrasound Devices Market Analysis Share Size and Demand by 2028
Ultrasound technologies have been used prolifically in ophthalmology for treating wide range of pathologies, particularly glaucoma, retinal disorders, and tumors. Imaging device manufacturers in the ophthalmic ultrasound devices market have leveraged new technologies to increase the diagnostic capabilities of the devices. Incorporation of better electronics, such as improved transducers, and new technologies, notably linear array-based plane-wave ultrasound, have undoubtedly expanded the armamentarium for ophthalmologists and eye surgeons.
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The ophthalmic ultrasound devices market has made a great headway with the use of ocular ultrasounds in cataract application and for visualizing posterior eye segment in vitreous hemorrhage. A recent case in point is deployment of point-of-care ocular ultrasound for the diagnosis of retinal detachment, adding fresh prospects for players in the ophthalmic ultrasound devices market.
Key end users in the ophthalmic ultrasound devices market are ambulatory surgical centers, hospitals, and ophthalmic clinics. Of these, presence of large patient pool make hospitals a prominent segment for revenue generation during the assessment period of 2018–2028. Major product types could comprise A-scan, B-scan, combined, pachymeter, and ultrasound biomicroscope.
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Global Ophthalmic Ultrasound Devices Market: Notable Developments
New treatment avenues in eye care are underpinned by concomitant advances in imaging agents and products, including the use of ophthalmic ultrasound devices. This has helped in the commercialization of novel ocular technologies in the ophthalmic ultrasound devices market. This in large part supported by recent spate of clinical trials in different phases, under the collaboration of clinical-stage medical device companies and manufacturers of ophthalmic ultrasound devices. Recently, the trend gathered momentum in the developed market of North America. The following strategic collaboration underscores the trend.
A Massachusetts-headquartered company Lantheus announced in April 2019 that it has entered into an agreement with Cerevast, a Washington-based company, wherein the former’s microbubble technology will be used with the latter’s ocular ultrasound device for the treatment of retinal vein occlusion (RVO). This might in the coming years pave way for new RVO technologies, thereby boosting the prospective application of newly developed ophthalmic ultrasound devices. Of note, Cerevast’s investigational ocular ultrasound device is expected to enter a Phase 2B clinical trial in Q2 of 2019.
Such developments indicate an interesting and encouraging trend for players in the ophthalmic ultrasound devices market: therapeutics and diagnostics must go hand-in-hand for better eye care in communities.
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Global Ophthalmic Ultrasound Devices Market: Key Dynamics
Rising worldwide diabetic populations, especially in developing regions of the world, has also led to an upsurge in the patient populations with diabetic retinopathy. The ophthalmic ultrasound devices market has remained in good stead from the growing application of ultrasound technology for patients with glaucoma and retinopathy of prematurity.
Over the last decade, there has been substantial rise in numbers of patients undergoing cataract surgeries. This has helped accentuate the uptake of improved imaging tools in eye care, particularly in emerging markets. Technological advances pertaining to image resolution capability, data storage, and compounding have helped retain the rapid pace of growth in the ophthalmic ultrasound devices market. Integration of new imaging features, such as related to transducer design, in portable ocular ultrasounds is a prominent case in point. Further, combination devices in contrast to standalone ones are gradually gathering steam in the ophthalmic ultrasound devices market.
Global Ophthalmic Ultrasound Devices Market: Regional Assessment
Key regional markets for ophthalmic ultrasound devices are North America, Asia Pacific, and Europe. North America has witnessed a rise in revenue on the back of copious demand for ophthalmic ultrasound devices for cataract treatment. Medical device manufacturers in the region have made relentless efforts to unveil new A-scan and combination devices with integrated features. This has kept the prospects highly lucrative.
The Europe ophthalmic ultrasound devices market has flourished mainly on the back of incessant efforts by ophthalmology societies to focus on adoption of new ultrasound devices in modern ophthalmology.
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