Rising Incidence of Eye Diseases and Advancements in Medical Science are Likely to Impel the Growth of Ophthalmic Diagnostic Equipment Market in Future

“Ophthalmic Diagnostic Equipment Market: Global Demand, Growth Analysis & Opportunity Outlook 2023”

The global ophthalmic diagnostic equipment market is segmented into product type such as fundus camera, ophthalmoscope, refractors, optical coherence tomography (OCT), corneal topography system, slit lamp, tonometer, perimeter and retinal ultrasound imaging system. Among these segments, optical coherence tomography (OCT) segment is anticipated to witness significant growth over the forecast period. The growth of the optical coherence tomography (OCT) segment can be attributed to rising prevalence of eye diseases such as glaucoma, cataract and more across the globe.   

Global ophthalmic diagnostic equipment market is expected to register a 5.2% CAGR over the forecast period i.e. 2016-2023. Moreover, the global ophthalmic diagnostic equipment market was valued at USD 2.2 Billion in 2015 and is expected to reach at notable revenue of around 3.5 Billion by the end of 2023. The market is expected to expand on the back of improving healthcare infrastructure and increasing geriatric population coupled with increasing incidence of eye diseases in aged population. 

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The Eye hospitals segment by end-user is likely to witness significant demand during the forecast period. Increasing adoption of advanced medical devices in hospitals and rising health care expenditure are key factors which are predicted to propel the growth of this segment by the end of 2024.

Growing prevalence of Eye Diseases

Incidence of eye diseases such as cataract, glaucoma and other are envisioned to fuel the demand for ophthalmic diagnostic services in near future. According to world health organization (WHO), cataract is responsible for more than 50% of world blindness. Further, rising incidence of eye conditions and diseases across the globe is likely to drive the growth of ophthalmic diagnostic equipment market over the forecast period.      

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Technological Advancements in Healthcare Industry

Growing adoption of advanced ophthalmic diagnostic equipment such as optical coherence tomography (OCT) in hospitals, clinics and laboratories is likely to fuel the demand for ophthalmic diagnostic equipment in near future. Moreover, improving healthcare infrastructure and increasing healthcare expenditure are expected to drive the growth of market in future.

Although, lack of awareness towards eye diseases amongst the population and need of periodic calibrations of equipment are some of the factors that are likely to inhibit the growth of the ophthalmic diagnostic equipment market in the near future.

The report titled “Ophthalmic Diagnostic Equipment Market : Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global ophthalmic diagnostic equipment market in terms of market segmentation by product type, by end-user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global ophthalmic diagnostic equipment market which includes company profiling of Carl Zeiss Vision International GmbH, Quantel Medical Inc., Coburn Technologies Inc., TOPCON Corporation, Halma PLC, Marco Ophthalmic, Abbott Laboratories, Haag-Streit AG, Heine Optotechnik GmbH & Co KG, Ziemer Ophthalmic Systems AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ophthalmic diagnostic equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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