The global ophthalmic ultrasound devices market size is estimated to exceed US$ 1.1 Bn by the end of 2032. Sales are expected to rise at a CAGR of 9% during the forecast period, in comparison to the 7.5% CAGR registered between 2017 and 2021.
High prevalence of ocular ailments such as cataracts, diabetic retinopathy, glaucoma, macular degeneration, and refractive errors is underpinning the need for ocular diagnosis and treatment equipment.
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Key manufacturers are focusing on launching novel ophthalmic devices with advanced ultrasound technologies and innovative features to make these devices more effective and accurate. This is anticipated to bolster the sales of ophthalmic ultrasound devices in the forthcoming years.
A-scan devices employ the most up-to-date electronic technology and transducer in ophthalmic practices, providing higher accuracy and reliability. On account of this, A-scan devices are estimated to remain the most sought-after in the market, with sales increasing at a considerable pace.
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Report Attributes |
Details |
|
Base Year Value (2021A) |
US$ 432.2 Million |
|
Projected Year Value (2032F) |
US$ 1.1 Billion |
|
Global Growth Rate (2022-2032) |
CAGR 9% |
Key Takeaways:
- The U.S. is projected to emerge as the most remunerative market in North America, creating an absolute $ opportunity of around US$ 200 Mn through 2032.
- China is estimated to exhibit growth at a rapid pace on the back of growing ocular conditions and diseases in the country.
- The U.K. is expected to account for a significant share in the Europe market, driven by the growing number of eye-related surgeries.
- Among product type verticals, sales in the A-scan segment are forecast to grow at a 9.1% CAGR through 2032.
- Based on mobility, the standalone segment is anticipated to account for the maximum revenue share, with demand increasing at a 7.3% CAGR over the forecast period.
Growth Drivers:
- Increasing adoption of ophthalmic ultrasound devices in cataract applications and posterior eye imaging for vitreous hemorrhage will spur demand in the market.
- Growing usage in pre-operative viewing of retinal detachment in circumstances such as lens opacification and peri-orbital trauma will boost sales of A-scan ophthalmic ultrasound devices.
- Restraints:
- High initial cost of ophthalmic ultrasound devices and need for qualified professionals to operate these devices might hamper the demand.
- Stringent regulatory standards and lengthy product approval policies for launch of novel ophthalmic devices will limit sales to an extent.
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Competitive Landscape:
Prominent players operating in the market are emphasizing on introducing new products to improve their existing product portfolios. Also, some companies are aiming at collaborations, partnerships, mergers & acquisitions for expanding their global footprint.
For instance,
- In April 2019, Lantheus, a U.S.-based manufacturer of diagnostic imaging equipment announced a partnership with a medical device technology company, Cerevast for combining its microbubble technology with Cerevast’s ocular ultrasound device for the diagnosis and treatment of retinal vascular occlusion.
- In March 2019, Quantel Medical, a leading manufacturer of medical equipment announced that it has received the approval for its new ophthalmic ultrasound device, ABSolu, by the U.S. Food & Drug Administration (FDA).
Key Companies Profiled by Fact.MR
- Halma plc
- Carl Zeiss Meditech
- Nidek Co. Ltd
- Quantel Medical
- Escalon Medical Corporation
- Optos
- Ellex
- MicroMedical Devices
- Others
More Valuable Insights on Ophthalmic Ultrasound Devices Market
Fact.MR in its latest study offers a comprehensive analysis on the global ophthalmic ultrasound devices market. It also provides key information such as latest trends, drivers, and challenges factors that are expected to influence sales of ophthalmic ultrasound devices during the forecast period of 2022 to 2032. It also uncovers critical forecast data for the ophthalmic ultrasound devices market through detailed segmentation as follows:
By Product Type:
- B-Scan
- A-Scan
- Combined
- Pachymeter
- Ultrasound Bio Microscope
By Mobility:
- Portable
- Standalone
By End Use:
- Hospitals
- Ambulatory Surgery Centers
- Ophthalmology Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Key Questions Covered in the Ophthalmic Ultrasound Devices Market Report
- What is the estimated revenue of the ophthalmic ultrasound devices market during the forecast period?
- Which are the challenges faced in the ophthalmic ultrasound devices market?
- Which region is estimated to exhibit fastest growth in the global ophthalmic ultrasound devices market during 2022-2032?
- What is the projected market valuation of the ophthalmic ultrasound devices market in 2022?
- Which factors are driving the ophthalmic ultrasound devices market during 2022-2032?
- What is the expected growth rate of the ophthalmic ultrasound devices market until 2032?
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