Press release
Ophthalmic Diagnostic Devices Market in Asia-Pacific To See Record Break Revenue $2.182 Billion By 2027
Asia-Pacific Ophthalmic Diagnostic Devices Market
Asia-Pacific ophthalmic diagnostic devices market size was valued at $1,553.80 million in 2019 and is projected to reach $2,182.83 million by 2027, registering a CAGR of 4.3% from 2019 to 2027.
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The virus that causes COVID-19 is from the family of viruses called Coronaviridae. This is caused by a contagious RNA virus termed as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The pandemic has impacted the ophthalmology screenings due to lockdown. The ophthalmology surgeries and diagnostic screenings are postponed due to COVID-19 and are done through teleophthalmology services such as an app, phone calls, emails, and messages.
The growth of the Asia-Pacific ophthalmic diagnostic devices market is majorly driven by rise in adoption of digital devices, including laptops, smartphones, and computers, e-readers, rapid technological advancements in ophthalmic diagnostic devices, and surge in awareness related to devices used in ophthalmology. In addition, rise in elderly population in China, Japan, and India as well medical tourism in the countries further drives the growth of the market. However, low awareness regarding eye-related diseases and dearth of skilled professionals are expected to hamper the growth of the market. Also, emerging countries such as China, India and other Asia-Pacific countries possess high growth potential, owing to the improving healthcare infrastructures in these countries.
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The Asia-Pacific ophthalmic diagnostic devices market segment is sub segmented into refractors, corneal topography systems, retinal ultrasound systems, fundus camera, ophthalmoscopes, optical coherence tomography systems, perimeters, slit lamps, and tonometer. The perimeters segment is expected to register a CAGR of 5.1% from 2019 to 2027.
Japan accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2019 to 2027, due to high expenditure on R&D, presence of local and global players & their product availability, and rise in elderly population in the country. However, India is expected to register highest CAGR during the forecast period, owing to the increase in prevalence of eye diseases and surge in medical tourism. In addition, cost-effective diagnosis of ophthalmic disorder in the country further fuels the growth of the Asia-Pacific ophthalmic diagnostic devices market.
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The Major Key Players Are:
Carl Zeiss Meditec AG, Halma, plc., Topcon Corporation, Essilor International S.A., Alcon Vision, Nidek Co., Ltd., Haag-Streit Holding AG, Ametek, Inc., Optovue Corporation, and Coburn Technologies, Inc.
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