Ophthalmic Imaging Equipment Market to reach US$ 3.2 Bn in 2031|Essilor Instruments, Haag-Streit AG

The Ophthalmic Imaging Equipment Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like "Online Bachelor's Degree in General Studies with a Concentration in Healthcare" is being floated, which could aid professionals to lead in the value-based care strategies. In other words, the future belongs to professionals bringing conventional skills in communication, care, and leadership with new-fangled skills in analytics and technology. So, "being value-based" would hold value in the healthcare vertical in the future.

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New scanning and imaging technologies tremendously impact ophthalmology, and provide multidisciplinary information, enabling new diagnostic methods. Manufacturers in the ophthalmic imaging equipment market emphasize on software enhancements and better connectivity, and are focusing on the introduction of high speed and high throughput devices. For instance, in September 2019, Carl Zeiss Meditec AG launched the CIRRUS 6000, a 100kHz ultra-fast OCT system for advanced care in ophthalmic practice. This system can scan and access patient information more quickly as compared to traditional OCT systems.

The global ophthalmic imaging equipment market was valued at US$ 1.8 Bn in 2019, and is expected to witness a CAGR of around 5% over the forecast period (2020 - 2031).

Company Profiles:

Essilor Instruments
Haag-Streit AG
Carl Zeiss AG
Johnson & Johnson Vision Care
Alcon
Canon Inc.
Quantel Medical Inc.
Halma plc.
Nidek Co., Ltd.
Topcon Corporation

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Key Takeaways from Ophthalmic Imaging Equipment Market Study

General eye examination products occupied nearly 45% of the market value share in in 2019, owing to increasing prevalence of refractive error and age-related macular degeneration.
Retinal ultrasound imaging systems, phoropters, and acuity systems accounted for around half of the market value share of general eye examination products.
Hospitals hold a major share in the global ophthalmic imaging equipment market, with increasing installation of ophthalmic imaging equipment such as optical coherence tomography (OCT), retinal ultrasound imaging systems, and corneal topography systems.
North America holds a prominent revenue share in the ophthalmic imaging equipment market, due to growing prevalence of glaucoma and diabetic retinopathy in the region. The market in East Asia is expected to expand at the highest growth rate, owing to rising healthcare expenditure in the region.

"Growing demand for advanced optical imaging tools, increasing number of image-guided surgeries, and introduction of new products are some of the factors expected to favor the growth of the ophthalmic imaging equipment market over the coming years," says a PMR analyst.

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Acquisitions & Partnerships - Key Strategies of Leading Ophthalmic Imaging Equipment Manufacturers

Ophthalmic imaging equipment manufacturers are focusing on product portfolio expansion through acquisition and merger activities. For instance, in April 2020, Haag-Streit announced the merger of VRmagic with the Haag-Streit Group. In 2018, Haag-Streit Diagnostics and VRmagic co-developed a digital microscope head for the Slit Lamp Simulator and Eyesi, an eye surgical simulator.

Moreover, key ophthalmic imaging equipment market players are focusing on geographical expansion through partnerships with distributor and regional players. For example, in September 2019, Essilor Instruments and OptiMed announced a new strategic partnership to provide diagnostic, refraction, and finishing solutions across Australia and New Zealand.

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More Valuable Insights on Ophthalmic Imaging Equipment Market

Persistence Market Research offers a unique perspective and actionable insights on the ophthalmic imaging equipment market in its latest study, presenting historical demand assessment of 2015-2019 and projections for 2020-2030, on the basis of product type (retina and glaucoma examination products {optical coherence tomography (OCT), ophthalmoscopes, perimeters, fundus cameras}, general eye examination products {retinal ultrasound imaging systems, auto refractors & keratometers, slit lamps, tonometers, lensometers, phoropters, projectors, acuity systems}, cornea and cataract examination products {corneal topography systems, optical biometry devices, wavefront aberrometers, specular microscopy}, ophthalmic examination chairs, and ophthalmic examination stands), and end user (hospitals, ophthalmology clinics, optometry clinics, ambulatory surgical centers, and optical shops), across seven major regions.

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