The Global Ophthalmoscopes Market size is expected to reach $332.9 Million by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
Ophthalmoscopes are small instruments allowing ophthalmologists to examine the patient's eye and diagnose defects. The equipment has a narrow beam of light that falls directly on the patient's pupil, allowing the physician to detect abnormalities in the lens of the optic disc, eye, vitreous fluid, and retina. The rise of the ophthalmoscopes market can be ascribed to the rising prevalence of eye illnesses, the expanding elderly population, and the growing incidence of diabetes.
The prevalence of eye diseases such as cataracts, age-related macular degeneration, glaucoma, and diabetic retinopathy are the leading causes of vision impairment and blindness worldwide. Visual impairment is a worldwide health concern with detrimental effects on the physical & mental health of the population and the economic health of a nation. The growing number of individuals who have impaired vision and blindness is an outcome of an aging population. In addition, alterations in lifestyle have led to a rise in the occurrence of diseases that cause visual impairment, like diabetes and hypertension.
Sales of ophthalmoscopes are expanding due to the increased introduction of technologically improved goods that are more effective for the eye than conventional devices, driving the market's expansion. Furthermore, the rising ageing population and increasing prevalence of ocular illnesses are anticipated to stimulate market expansion. In addition, the prevalence of ophthalmic treatments has increased the need for these products.
The invention of portable or digital ophthalmoscopes has enhanced the precision and accessibility of eye examinations. In addition, technological advancements have made ophthalmoscopes even more user-friendly and simpler to use, which is estimated to contribute to the market expansion. Moreover, expanding populations and rising healthcare expenditures in emerging regions contribute to expanding the ophthalmoscope market.
During the pandemic, elective procedures were temporarily halted, reducing the demand for the product and the number of times it was used. On the other hand, the market for ophthalmoscopes has started to pick up again due to the widespread vaccination of large populations and an increase in the availability of raw materials and resources. Thus, the market has witnessed a negative impact of the COVID-19 outbreak during the initial months but has recovered soon after the uplifting of the restrictions imposed by several affected nations.
Innovators have experimented with and produced various clip attachments using smartphones for direct ophthalmoscopes. When attached to a smartphone, these clips enable the necessary visualization of the optic disc and retinal diseases; hence, the smartphone can be used effectively as an ophthalmoscope. Moreover, with smartphones, the light source is close to the camera, but it cannot be precisely recreated as a co-axial illumination system, which is important for fundus photography. Smartphone ophthalmoscopy's increasing popularity is driving market expansion.
Vision impairment can be brought on by various disorders, including age-related macular degeneration, glaucoma, long-term systemic diseases like diabetes that produce diabetic retinopathy, infectious eye diseases, and eye trauma. The significance of diabetic retinopathy screening has been emphasized as a strategy for preventing blindness and vision impairment in WHO's Global Report on Diabetes (WHO, 2016) and the World Report on Vision (WHO, 2019a). This increases the demand for ophthalmoscopes, hence contributing to market expansion.
Many eye illnesses are treatable if diagnosed early. Early detection screenings do not occur as consistently as they should because of the difficulties in utilizing the direct ophthalmoscope. In addition to this, the direct ophthalmoscope's requirement that patients dilate their pupils to provide the best images is the main challenge for general practitioners. Dilating drops can take as long as thirty minutes to work before physicians can perform the screening, which can disrupt the usual flow of patients on a normal day. These restrictions will likely hinder the market expansion for ophthalmoscopes during the forecast period.
Based on type, the ophthalmoscopes market is segmented into direct and indirect. The indirect segment covered a considerable revenue share in the ophthalmoscopes market in 2021. The growing geriatric population and the prevalence of age-related eye disorders are the principal factors that will raise the demand for indirect ophthalmoscopes. In addition, technological innovations will improve the functionality and design of indirect ophthalmoscopes, making them more effective for eye examinations. The indirect form provides a more comprehensive and expansive picture of the retina.
On the basis of application, the ophthalmoscopes market is categorized into diabetic retinopathy, macular degeneration, retinal repair, glaucoma and others. In 2021, the glaucoma segment witnessed the largest revenue share in the ophthalmoscopes market. Open angle has become the most prevalent form of glaucoma, affecting a large proportion of individuals. Ophthalmoscopes serve a vital role in the diagnosis & management of glaucoma for the accurate and efficient monitoring of the condition and preservation of vision.
By end-use, the ophthalmoscopes market is bifurcated into hospitals, ophthalmic clinics and others. The hospitals segment dominated the ophthalmoscopes market with the maximum revenue share in 2021. The major components influencing the segment's growth are the increasing patient volume and variety of conditions, including anything from routine check-ups to emergency circumstances. In order to instruct medical residents & students in ophthalmology, they also use ophthalmoscopes as a component of their training programmes.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 219.6 Million |
| Market size forecast in 2028 | USD 332.9 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6.3% from 2022 to 2028 |
| Number of Pages | 189 |
| Number of Table | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, End-use, Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Region wise, the ophthalmoscopes market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the ophthalmoscopes market by generating the highest revenue share. The rising prevalence of eye diseases and disorders necessitating regular eye exams and monitoring are the key reasons contributing to the expansion of the ophthalmoscopes market.
Free Valuable Insights: Global Ophthalmoscopes Market size to reach USD 332.9 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hill-Rom Holdings, Inc. (Welch Allyn) (Baxter International, Inc.), Keeler Ltd. (Halma Plc), Zumax Medical co. ltd, Albert Waeschle Limited, Neitz Instruments Co., Ltd., Iridex Corporation, HEINE Optotechnik GmbH & Co. KG, HONSUN Group, Nidek Co., Ltd., and Suzhou KangJie Medical, Inc.
By End-Use
By Type
By Application
By Geography
The global Ophthalmoscopes Market size is expected to reach $332.9 Million by 2028.
Use of smartphone ophthalmoscopy are driving the market in coming years, however, Inefficiency of direct ophthalmoscopes restraints the growth of the market.
Hill-Rom Holdings, Inc. (Welch Allyn) (Baxter International, Inc.), Keeler Ltd. (Halma Plc), Zumax Medical co. ltd, Albert Waeschle Limited, Neitz Instruments Co., Ltd., Iridex Corporation, HEINE Optotechnik GmbH & Co. KG, HONSUN Group, Nidek Co., Ltd., and Suzhou KangJie Medical, Inc.
The expected CAGR of the Ophthalmoscopes Market is 6.3% from 2022 to 2028.
The Direct segment is leading the Global Ophthalmoscopes Market by Type in 2021 thereby, achieving a market value of $206.9 Million by 2028.
The North America market dominated the Global Ophthalmoscopes Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $117.5 Million by 2028.
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
