How Is The Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Segmented?
The diagnostic and monitoring ophthalmic devices and equipment market covered in this report is segmented –
1) By Product Type: Optical Coherence Tomographers, Ophthalmic Ultrasound Imaging Systems, Fundus Cameras, Ophthalmoscopes, Keratometers, Specular Microscopes., Tonometers, Slit Lamps, Retinoscopes, Other Products
2) By Application: Retinal Evaluation, Glaucoma Detection And Monitoring, Surgical Evaluation, General Examine, Intraoperative Devices, Refraction Equipment
3) By End User: Hospitals, Clinics, Diagnostic Laboratories, Research Centers
Subsegments:
1) By Optical Coherence Tomographers: Time-Domain OCT (TD-OCT), Spectral-Domain OCT (SD-OCT), Swept-Source OCT (SS-OCT)
2) By Ophthalmic Ultrasound Imaging Systems: B-Scan Ultrasound, A-Scan Ultrasound, Pachymetry Ultrasound
3) By Fundus Cameras: Digital Fundus Cameras, Non-Mydriatic Fundus Cameras, Mydriatic Fundus Cameras, Wide-Field Fundus Cameras
4) By Ophthalmoscopes: Direct Ophthalmoscopes, Indirect Ophthalmoscopes
5) By Keratometers: Manual Keratometers, Automated Keratometers
6) By Specular Microscopes: Contact Specular Microscopes, Non-Contact Specular Microscopes
7) By Tonometers: Applanation Tonometers, Non-Contact Tonometers, Indentation Tonometers, Rebound Tonometers
8) By Slit Lamps: Manual Slit Lamps, Digital Slit Lamps, Portable Slit Lamps
9) By Retinoscopes: Handheld Retinoscopes, Tabletop Retinoscopes
10) By Other Products: Dioptometers, Optotype Projector, Perimeters (Static Perimeters, Kinetic Perimeters), Biometers (Optical Biometers, Ultrasound Biometers), Pachymeters, Autorefractors Or Phoropters, Corneal Topographers, Wavefront Aberrometers
What Is Driving The Diagnostic And Monitoring Ophthalmic Devices And Equipment Market? Diagnostic And Monitoring Equipment Revolutionizing The Ophthalmic Devices Market
The increasing incidence of diabetes is expected to propel the growth of diagnostic and monitoring equipment in the ophthalmic devices market going forward. Diabetes is a chronic disease that occurs when the body cannot effectively use or produce enough insulin, a hormone that regulates blood sugar levels. Diagnostic and monitoring equipment in ophthalmic devices such as smart contact lenses can be used for both continuous glucose monitoring and the treatment of diabetic retinopathy. They can wirelessly monitor glucose levels and provide real-time data to the user. For instance, in March 2024, according to the Office for Health Improvement & Disparities, a UK-based government department, between March 2022 and March 2023, the percentage of individuals with type 1 diabetes receiving all eight recommended care processes increased by 22%, and for type 2 diabetes, it increased by 21%, while the percentage achieving target HbA1c levels rose to 37.9%, the highest value ever reported by the National Diabetes Audit (NDA). Thus, the increasing incidence of diabetes is driving the growth of the diagnostic and monitoring equipment in the ophthalmic devices market.
What Is Driving The Diagnostic And Monitoring Ophthalmic Devices And Equipment Market? Rising Prevalence Of Eye Diseases Fuels Demand For Diagnostic And Monitoring Ophthalmic Devices
The increasing prevalence of eye diseases is expected to drive the demand for diagnostic and monitoring equipment in the ophthalmic devices industry. The rise in surgeries associated with eye disorders like cataracts, diabetic retinopathy, and glaucoma has increased the demand for diagnostic and monitoring ophthalmic devices. For Instance, in October 2022, the World Health Organization, a Switzerland-based specialized agency of the United Nations, globally, over 2.2 billion people have near or distance vision problems, and out of these, at least 1 billion cases, almost half, involve preventable or untreated vision loss, including 826 million cases of near vision impairment caused by untreated presbyopia, 88.4 million cases of moderate to severe distance vision impairment or untreated refractive error, and 94 million cases of cataracts, which are the primary cause of blindness. Therefore, increasing prevalence of eye diseases is driving the growth of the diagnostic and monitoring ophthalmic devices and equipment market.
Who Are The Major Players In The Global Diagnostic And Monitoring Ophthalmic Devices And Equipment Market?
Major companies operating in the diagnostic and monitoring ophthalmic devices and equipment market include Carl Zeiss Meditec, Alcon Inc., Bausch + Lomb, Haag-Streit, Topcon Corporation, Nidek Co. Ltd., Abbott Medical Optics, Johnson and Johnson Vision Care, Essilor International S.A, Ziemer Ophthalmic Systems AG, STAAR Surgical Company, Ellex, Quantel Medical Inc, Optovue, Canon Inc., Halma plc, Coburn Technologies Inc., Kowa Company Ltd., AMETEK Inc., AbbVie Inc., Hoya Corporation, Ridex Corporation, CIBA Vision Corporation, CooperVision, Gulden Ophthalmics, Glaukos Corporation, FCI Ophthalmics, Matronix India Corporation, HEINE Optotechnik, Visionix Ltd., Neo Vision, Clear Lab, Appasamy Associates, Ophtec BV, Lumenis, Intuvision Labs, Ocular Instruments, Ophthalmic Instruments Company, Keeler Ltd., Oculus, Reichert Technologies, Tomey Corporation, US Ophthalmic
What Are The Key Trends Of The Global Diagnostic And Monitoring Ophthalmic Devices And Equipment Market? Innovative Advances In Ophthalmic Diagnostic And Monitoring Equipment
Major companies operating in the diagnostic and monitoring equipment in the ophthalmic devices market are developing innovative products such as Smart contact lenses by using smart soft contact lens technology to better serve patients. Smart soft contact lens technology is a recent development that enables the continuous 24-hour monitoring of intraocular pressure (IOP) in glaucoma care. For instance, in January 2023, BVS Sight Inc., a US-based company launched Smart contact lenses by using smart soft contact lens technology. Smart soft contact lenses are built upon various commercial brands of soft contact lenses without altering their intrinsic properties such as lens power, biocompatibility, softness, transparency, wettability, oxygen transmissibility, and overnight wearability.
What Are The Key Trends Of The Global Diagnostic And Monitoring Ophthalmic Devices And Equipment Market? The Emergence Of Ai And Ml-Enhanced Ophthalmic Diagnostic And Monitoring Devices
Advanced eye care medical devices equipped with artificial intelligence (AI) and machine learning (ML) are the new trends in the ophthalmic diagnostic and monitoring equipment market. AI and ML-equipped medical devices can not only quickly interpret the eyes of the patient with better accuracy but also recommend a suitable treatment for the patient. Deepmind, a subsidiary of Alphabet Inc. has developed an AI-based system that is capable of analyzing 3D retinal OCT scans for detecting severe diseases like glaucoma, retinopathy, macular degeneration, and 50 different types of eye diseases at their early stage.
Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Merger And Acquisition: Alcon Expands Portfolio With Acquisition Of Aerie Pharmaceuticals
In November 2022, Alcon, a Switzerland-based ophthalmology company completed the acquisition of Aerie Pharmaceuticals for an undisclosed amount. Through the acquisition, Alcon has added commercial products such as Rocklatan and Rhopressa, as well as a pipeline of ophthalmic pharmaceutical product candidates. Aerie Pharmaceuticals is a US-based company that specializes in ophthalmic pharmaceuticals.
Regional Outlook For The Global Diagnostic And Monitoring Ophthalmic Devices And Equipment Market
North America was the largest region in the global diagnostic and monitoring ophthalmic devices and equipment market in 2024. Asia-Pacific was the second-largest region in diagnostic and monitoring ophthalmic devices and equipment market. The regions covered in the diagnostic and monitoring ophthalmic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the diagnostic and monitoring ophthalmic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Defines the Diagnostic And Monitoring Ophthalmic Devices And Equipment Market?
The Diagnostic and monitoring ophthalmic devices and equipment market consist of sales of ultrasound imaging systems ophthalmoscopes, corneal topographers, specular microscopes, slit lamps, fundus cameras, anomaloscope, haploscope, ophthalmic lens gauge, stereopsis measuring Instrument, retinoscopes, stereoscope, and others that are used for diagnosis and monitoring of ophthalmic diseases. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Diagnostic And Monitoring Ophthalmic Devices And Equipment Industry?
The diagnostic and monitoring ophthalmic devices and equipment market research report is one of a series of new reports from The Business Research Company that provides diagnostic and monitoring ophthalmic devices and equipment market statistics, including diagnostic and monitoring ophthalmic devices and equipment industry global market size, regional shares, competitors with a diagnostic and monitoring ophthalmic devices and equipment market share, detailed diagnostic and monitoring ophthalmic devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic and monitoring ophthalmic devices and equipment industry. This diagnostic and monitoring ophthalmic devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
