Ophthalmic Ultrasound Systems Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Ophthalmic Ultrasound Systems Market Analysis
The ophthalmic Ultrasound Systems Market is poised to grow at a CAGR of 7% during the forecast period.
The pandemic had an effect on the market and various research studies provide insight into that. For instance, according to a research study published by Parul C Gupta et. al., in the December 2021 edition of the Indian Journal of Ophthalmology, the studied clinic was expected to perform 7,500 cataract procedures, but due to the pandemic, they were able to perform only 2,500 procedures. This data suggests a significant decrease in cataract procedures during the COVID-19 pandemic. However, with the increase in screen time owing to long working hours, ocular problems are one of the most reported problems worldwide and this may lead to an increase in the prevalence of optical disorders and boost the growth of the studied market during the studied period. For instance, as per a research study published in November 2021 by Jason M. Nagata et al., the average screen time of adolescents in the United States increased to 7.7 hours per day from 3.8 hours per day in pre-pandemic time and as per the same source, increase in screen time has a negative effect on the physical and mental state of the adolescent. Hence, the long-term impact of COVID-19 is expected to have a positive impact on the studied market.
The increasing burden of optical disorders such as myopia (nearsightedness), hyperopia (far-sightedness), astigmatism (distorted vision), and presbyopia, among others around the world are expected to be the major driving factor for the growth of the ophthalmic ultrasound systems market during the forecast period of the study. For instance, according to the October 2021 update of the World Health Organization (WHO), approximately 2.2 billion people around the world have near or distance vision impairment and about 1 billion of these cases of vision impairment could be prevented or are yet to be addressed. Further, as per WHO, unaddressed presbyopia is estimated to affect about 826 million people around the world. Also, as per the above-mentioned source, uncorrected refractive errors, cataracts, age-related macular degeneration, and glaucoma among others, are the major cause of vision impairment and blindness globally, and vision loss can affect people of any age but the majority is over the age of 50 years. Hence, the statements mentioned above indicate that there is a growing burden of eye diseases across the globe which is a fuelling factor for the growth of the market studied as ophthalmic ultrasound devices are used in the diagnosis of such eye diseases.
However, the increasing advancement and adoption of other diagnostic tools and rigorous government regulations are expected to hinder market growth.
Ophthalmic Ultrasound Systems Market Trends
This section covers the major market trends shaping the Ophthalmic Ultrasound Systems Market according to our research experts:
B-Scan to Hold a Significant Share of the Market
B-Scan or Brightness Scan provides a two-dimensional cross-sectional view of the eye. It is applied on the exterior of the shut eyelid. B-scan is utilized when examining the eye ordinarily is challenging. With such advantages of a B-Scan, it is widely used globally, and companies are coming up with novel and technologically advanced B-scans, which are fuelling demand for the same. Factors such as increasing diseases coupled with the initiative by market players are expected to increase the market growth. For instance, a study published in the National Library of Medicine in February 2022 stated that the hospital admission rate for diseases of the eye and adnexa increased by 73.8% in the last two decades. Thus, high hospital admission rates increase the demand for diagnostic and surgical eye care devices, boosting the market. The above-mentioned study also reported that most people with visual impairment are elderly and fall into the age group of 50 years and above. More than 80% of people in this age group suffer from eye diseases. Therefore, the growing burden of the geriatric population is expected to increase the prevalence of eye diseases in the country and drive segmental growth. The prevalence of diabetic retinopathy is one of the key factors in market growth. The American Academy of Ophthalmology recently revealed epidemiological statistics showing that 387 million people worldwide currently suffer from diabetes mellitus, with that number expected to rise to 592 million by 2035. Worldwide, diabetic retinopathy affects 93 million individuals. Type 1 diabetes patients have a 77.3% prevalence of diabetic retinopathy, whereas type 2 diabetes patients have a 25.1% prevalence, with 25% to 30% of those patients predicted to develop vision-threatening diabetic macular edema. 5% to 8% of diabetic retinopathy patients require laser therapy. Up to 5% of individuals might need a vitrectomy operation. Ophthalmic B-mode ultrasound is used for the detection and evaluation of diabetic retinopathy complications that predict the visual outcome.
Various initiatives, such as expansion are key factors in segmental growth. In June 2022, Lumibird Medical expanded its presence in India by creating a new subsidiary in the country. The company offered various ophthalmic ultrasound products such as ABSOLU, COMPACT TOUCH, AXIALIS, etc. With such initiatives, the market is expected to grow in the country thus boosting the overall segmental growth globally.
This growing incidence rate of various eye diseases is anticipated to boost demand for B-Scan ocular ultrasound devices in the coming years.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
Factors such as high disposable incomes, high awareness, the rising geriatric population, and the prevalence of eye diseases are fueling the growth of the market studied in the North American region. Various research articles published provide insight into the prevalence of blindness and other eye disorders. For instance, the article sourced in Cleveland clinic articles published in January 2022, mentioned that more than 3.4 million people in the United State aged 40 and above meet the definition of legal blindness or have corrected vision. Such increasing target disorders, which are yet to be diagnosed are also expected to drive the growth of the market. Similarly, the article published in the Ontario Association of optometrists in July 2021 mentioned that as Canada's population ages, the number of individuals living with corrected vision is growing and will impact Canada's healthcare system and economy. The report shows that 1.2 million Canadians live with the loss of vision, 466,000 in Ontario alone. The above-mentioned source also mentioned that over 8 million Canadians, nearly 3.1 million in Ontario, are living with one of the four major eye diseases (age-related macular degeneration, glaucoma, diabetic retinopathy, and cataracts) and have or are at risk of vision loss. Such increasing prevalence of eye diseases is expected to rise the demand for ophthalmic ultrasound systems for early diagnosis and drive the growth of the market.
Ophthalmic Ultrasound Systems Industry Overview
The Ophthalmic Ultrasound Systems Market is moderately fragmented. The global key players are manufacturing the majority of ophthalmic ultrasounds. Market leaders with more funds for research and a better distribution system have established their position in the market. The major players operating in the market are Appasamy Associates, DGH Technology Inc., Micro Medical Devices, NIDEK CO., LTD., Optos PLC (Nikon Corporation), Quantel Medical (Ellex Medical Lasers Ltd), Lumibird Medical (Quantel Medical), AMETEK (Reichert Inc.), and Sonomed Escalon.
Ophthalmic Ultrasound Systems Market Leaders
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Appasamy Associates
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DGH Technology Inc.
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Nikon Corporation (Optos Plc)
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Lumibird Medical (Quantel Medical)
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Carl Zeiss Meditec AG
*Disclaimer: Major Players sorted in no particular order
Ophthalmic Ultrasound Systems Market News
- In October 2022, Halma acquired IZI Medical Product for EUR 138 million (USD 145 million) to increase its presence across a range of diagnostic and therapeutic procedures.
- In September 2022, Alcon acquired Ivantis, developer of the novel Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower eye pressure for open-angle glaucoma patients in connection with cataract surgery. With this acquisition, the immediate integration of Ivantis associates helps ensure the continuity of the business and relationships with existing customers. It also allows Alcon to begin its future growth plans to bring Hydrus Microstent to more international markets and prioritize its ongoing evidence-based research.
Ophthalmic Ultrasound Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Eye Diseases
- 4.2.2 Advent of Novel Ophthalmic Technologies
- 4.2.3 Rise in Public Health Awareness Programs by Government
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4.3 Market Restraints
- 4.3.1 Increasing Advancement and Adoption of Other Diagnostic Tools
- 4.3.2 Rigorous Government Regulations
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 A- Scan
- 5.1.2 B- Scan
- 5.1.3 Combined Scan
- 5.1.4 Pachymeter
- 5.1.5 Ultrasound Bio-microscopy (UBM)
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5.2 By Modality
- 5.2.1 Portable
- 5.2.2 Standalone
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5.3 By End-User
- 5.3.1 Hospitals
- 5.3.2 Ophthalmology Clinics
- 5.3.3 Other End-Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 COMPANY PROFILES
- 6.1.1 AMETEK (Reichert Inc.)
- 6.1.2 Appasamy Associates
- 6.1.3 Carl Zeiss Meditec AG
- 6.1.4 Clarion Medical Technologies
- 6.1.5 DGH Technology Inc.
- 6.1.6 Halma plc
- 6.1.7 Lumibird Medical (Quantel Medical)
- 6.1.8 MEDA Co., Ltd (Tianjin Pharmaceutical Holdings Ltd)
- 6.1.9 Micro Medical Devices
- 6.1.10 NIDEK CO., LTD.
- 6.1.11 Optos PLC (Nikon Corporation)
- 6.1.12 Sonomed Escalon
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityOphthalmic Ultrasound Systems Industry Segmentation
Per the report's scope, ocular ultrasound, also known as ocular echography, "echo," or a B-scan, is a quick, non-invasive test routinely used in clinical practice to assess the structural integrity and pathology of the eye. The Ophthalmic Ultrasound Systems Market is segmented by product (A- Scan, B- Scan, Combined Scan, Pachymeter, and Ultrasound Bio-microscopy (UBM)), modality (Portable and Standalone), end user (Hospitals, Ophthalmology, Clinics, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (USD million) for the above segments.
| By Product | A- Scan | |
| B- Scan | ||
| Combined Scan | ||
| Pachymeter | ||
| Ultrasound Bio-microscopy (UBM) | ||
| By Modality | Portable | |
| Standalone | ||
| By End-User | Hospitals | |
| Ophthalmology Clinics | ||
| Other End-Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Ophthalmic Ultrasound Systems Market Research FAQs
What is the current Ophthalmic Ultrasound Systems Market size?
The Ophthalmic Ultrasound Systems Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Ophthalmic Ultrasound Systems Market?
Appasamy Associates, DGH Technology Inc., Nikon Corporation (Optos Plc), Lumibird Medical (Quantel Medical) and Carl Zeiss Meditec AG are the major companies operating in the Ophthalmic Ultrasound Systems Market.
Which is the fastest growing region in Ophthalmic Ultrasound Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ophthalmic Ultrasound Systems Market?
In 2024, the North America accounts for the largest market share in Ophthalmic Ultrasound Systems Market.
What years does this Ophthalmic Ultrasound Systems Market cover?
The report covers the Ophthalmic Ultrasound Systems Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Ophthalmic Ultrasound Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ophthalmic Ultrasound Systems Industry Report
Statistics for the 2024 Ophthalmic Ultrasound Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ophthalmic Ultrasound Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
