Ophthalmic Ultrasound Systems Market Size

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.