Global Ophthalmic Imaging Equipment Market 2023: Increasing Number of Optometry Clinics & Eye Care Centers Boding Well for Market Expansion
The ophthalmic imaging equipment market is an ever-evolving field as it provides doctors with the latest and most advanced technology to diagnose and treat eye conditions. These devices can be used to measure vision, detect pathologies, and provide detailed images of the eyes. With such a wide range of applications, this market is expected to grow significantly in the near future.
Ophthalmic imaging equipment includes both traditional optical devices such as ophthalmoscopes and retinoscopes, as well as newer digital equipment such as fundus cameras and OCT scanners. The former are still widely used by practitioners while the latter are becoming more popular due to their accuracy and convenience.
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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 – 2030).
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.
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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Key Segments of Ophthalmic Imaging Equipment Market
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