APAC Ophthalmic Diagnostics Market 2023 : Projected to Deliver Greater Revenues during the Forecast Period 2028

The APAC Ophthalmic Diagnostics Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global APAC Ophthalmic Diagnostics market. This report explores all the key factors affecting the growth of the global APAC Ophthalmic Diagnostics market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the APAC Ophthalmic Diagnostics Market Analysis

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
Inflation has not been accounted for in order to estimate and forecast the market
Numbers may not add up due to rounding off

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Facilitate decision-making based on strong current and forecast data for APAC Ophthalmic Diagnostics Market Analysis
Develop strategies based on the latest regulatory framework
Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the APAC Ophthalmic Diagnostics Market Analysis
Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
To strategically profile key players and comprehensively analyze their market shares and core competencies
We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

APAC Ophthalmic Diagnostics Market Analysis Executive Summary

Ophthalmology is a branch of medicine related to the structure, functions, and diseases of the eye. Ophthalmic devices can be defined as medical devices utilized in the identification as well as treatment of eye defects or deficiencies and eye-related disorders.

Market Size and Key Findings

The APAC Ophthalmic Diagnostics Market Analysis size stood at around USD 1.55 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 4.3% during the forecast period.

The Asia-Pacific ophthalmic diagnostic devices market size was valued at $1,553.80 million in 2020 and is projected to reach xx million by 2028, registering a CAGR of 4.3% from 2020 to 2028.

Market Dynamics

Market Growth Drivers Analysis

The growth of the Asia-Pacific ophthalmic diagnostic devices market is majorly driven by aging population, increase in prevalence of ophthalmic diseases such as cataract and glaucoma, technological advancements in handheld devices for detecting glaucoma and macular degeneration, and increase in R&D activities. Imaging technologies in all fields of ophthalmology boosts the diagnostic capabilities. Recent advancements in these technologies help enhance the effect on retinal imaging during diagnosis.

Market Restraints

Low awareness regarding eye-related diseases and dearth of skilled professionals are expected to hamper the growth of the market. On the contrary, the countries such as China, India, and other Asia-Pacific countries possess high growth potential, owing to improving healthcare infrastructures in these countries.

COVID-19 impact on APAC Ophthalmic Diagnostics Market

The emergence of the novel coronavirus SARS-CoV-2, and the resulting disease COVID-19, has created a major international public health challenge. This has impacted all the sectors, disrupting the supply chain, and creating a shortage of supplies. As the government has imposed lockdown, the ophthalmology diagnostics clinics and the surgeries are postponed. This is due to the ophthalmologists are at high risk, considering the proximity to patients when inspecting patients and transmission may happen, including the eyes.

Competitive Landscape

Key Players

Some of the key players operating in the Asia-Pacific ophthalmic diagnostic devices market include 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.

Products in Pipeline

Cataract is the clouding of the lens in the eye, which initially prevents clear vision and eventually progresses to blindness, if left untreated.

Notable Recent Deals

In China, our latest research shows a USD3.6 billion market for ophthalmology treatment, performed in almost 6,500 hospitals including 500 specialised ophthalmology hospitals. This market is projected to grow at 13% a year to USD6.7 billion by 2020, led by vision correction surgery where we forecast over 8 million procedures will be performed in 2020. The number of specialised ophthalmology hospitals in China is forecast to increase by a massive 70% to 850 in the next five years, accounting for 70% of all procedures by 2020.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

The government has imposed guidelines for practice such as the use of teleophthalmology services for the patients who require urgent follow-up. The WHO estimates that more than 22 million people across the world were bilaterally blind from cataract in 2017. The WHO Action Plan for the prevention of blindness from 2014 to 2019 was approved by the World Health Assembly in May, 2013. VISION 2020 is based on the concept of a broad coalition of all international, nongovernmental, and private organizations that collaborated with the WHO in order to prevent blindness. Hence, increase in the number of cataract awareness programs is likely to boost market growth.

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APAC Ophthalmic Diagnostics Market Analysis Segmentation

By Product:

By product, the market is bifurcated into refractors, corneal topography systems, retinal ultrasound systems, fundus camera, ophthalmoscopes, optical coherence tomography systems, perimeters, slit lamps, and tonometer. The fundus camera segment is further classified into mydriatic fundus cameras, non-mydriatic fundus cameras, hybrid fundus cameras, and ROP fundus cameras. The mydriatic fundus cameras further divided into tabletop and handheld. the non-mydriatic fundus cameras further divided into tabletop and handheld. the perimeters segment is further classified into static, kinetic, and combination. The static segment is further divided into handheld perimeter and desktop perimeter. The kinetic segment is further divided into handheld perimeter and desktop perimeter. The combination segment is further divided into handheld perimeter and desktop perimeter.

By product, the optical coherence tomography (OCT) systems segment accounted for the largest market share in 2019, and is expected to maintain its dominance during the forecast period, owing to the fact that the OCT device enables ophthalmologists to accurately map and measure the distinctive layers of the retina. Moreover, the major applications of the device include macula imaging, optic nerve & retinal nerve fiber layer (RNFL) imaging, and support in analyzing the morphology & quantifying changes in various disease states further boosts the growth of the Asia-Pacific ophthalmic diagnostic devices market.

By Country:

Japan accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2020 to 2028, due to high expenditure on R&D, presence of large number of elder population, and rise in eye disorder. However, India is expected to register highest CAGR during the forecast period, as the Governments of the country is investing more in the development of healthcare infrastructure, rising ageing population, and rise in adoption of ophthalmic diagnostic devices for diagnose eye diseases efficiently. In addition, the rise in medical tourism in the country further boosts the growth of the Asia-Pacific ophthalmic diagnostic devices market.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global APAC Ophthalmic Diagnostics Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global APAC Ophthalmic Diagnostics Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the APAC Ophthalmic Diagnostics market
Chapter 2: Exclusive Summary - the basic information of the APAC Ophthalmic Diagnostics Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the APAC Ophthalmic Diagnostics
Chapter 4: Presenting the APAC Ophthalmic Diagnostics Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the APAC Ophthalmic Diagnostics market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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In conclusion, the APAC Ophthalmic Diagnostics Market report is a genuine source for accessing the research data which is projected to exponentially grow your business. The report provides information such as economic scenarios, benefits, limits, trends, market growth rates, and figures. SWOT analysis and PESTLE analysis is also incorporated in the report.

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