Ophthalmology Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Ophthalmology Diagnostics Market is segmented by Product (Optical Coherence Tomography (OCT) Scanners, Ophthalmoscopes, Corneal Topographers, Refractors, Fundus Cameras, Retinoscopes, and others), Application, End-user, and Geography

Ophthalmology Diagnostics Market Snapshot

Ophthalmology Diagnostics Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >4.15 %

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Market Overview

The Ophthalmic Diagnostics Market studied was anticipated to grow with a CAGR of nearly 5.8% during the forecast period. The major factors driving the growth of the market are the global prevalence of various ophthalmic disorders such as glaucoma, eyestrain, cataract, colorblindness, diabetic retinopathy, etc., necessitating the early-stage diagnosis for efficient treatment. Also, a steep rise in geriatric population resulting in the global burden of avoidable blindness along with the growth of healthcare awareness leading to regular health checkups fuels the market. For instance, according to the study results published by the International Council of Ophthalmology, in 2019, the prevalence of eyes disorders increased in population age over 50 due to high rate of macular degeneration which directly resulted in higher demand for diagnosis such as retinal and surgical evaluations fueling the growth of the global ophthalmology diagnostics market throughout the forecasted period.

Scope of the Report

Ophthalmology Diagnostics are the equipment are used for the diagnosis and monitoring of various ophthalmic diseases such as cataract, glaucoma, colorblindness, refractive errors, among others. Ophthalmic Diagnostic and monitoring devices include a wide range of equipment such as fundus camera, ophthalmoscopes, refractors, corneal topography systems and others which help ophthalmologists to identify the power of an intraocular lens (IOLs) and examine the visual field which has huge the demand to prevent visual impairment and loss of vision.

By Product
Corneal Topographers
Fundus Cameras
Ophthalmoscopes
OCT Scanners
Retinoscopes
Refractors
Others
By Application
Retinal Evaluation
Glaucoma Detection
Surgical Evaluation
Refraction Assessment
Others
By End-user
Hospitals
Speciality Clinics
Others
Geography
North America
United states
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Surgical Evaluation Segment is Expected to Hold the Largest Market Share in the Ophthalmic Diagnostics Market

  • The Surgical evaluation segment is expected to witness the largest market revenue share over the forecast period. The dominance is owing to the higher prevalence of cataract and diabetic retinopathy which lead to cataract surgeries resulting in higher demand for surgical evaluation globally. On the other hand, the OCT Optical Coherence Tomography devices segment is anticipated to witness the highest growth over the forecast period owing to the rise in popularity of Point of Care (POC) testing as the standard ophthalmology diagnosis in ocular imaging fueling the market revenue.  
  • Based on the end-user segment, the hospital segment accounts for the major share of the global ophthalmic diagnostics market during the forecast period due to an increase in new cases and the number of geriatric admissions in eye hospitals owing to eye disorders and rise in the elderly population with avoidable blindness. Also, the presence of a huge patient pool with a preference of treatment at hospitals with high disposable income and a steep rise in the purchasing power of hospitals in the emerging economies likely to drive the growth in this segment during the forecast period.
Ophthalmology Diagnostics Market

North America Dominates the Market and Expected to do Same Over the Forecast Period.

North America is expected to dominate the overall ophthalmic diagnostics market throughout the forecast period due to a steep rise in the prevalence of ophthalmic disorders such as cataract and diabetic retinopathy along with the huge growth of geriatric population in the United States. For instance, according to the American Academy of Ophthalmology report published in 2014, about 24.5 million people were affected with the cataract which was identified as the leading cause of blindness in the United States demanding the advanced diagnostics for efficient retinal and surgical evaluation driving for growth of the market. Also, an increase of investments by ophthalmologists in novel technologies with established healthcare infrastructure contributes to the outstanding market share of the region propelling the global ophthalmic diagnostic market revenue.

Ophthalmology Diagnostics Market

Competitive Landscape

The ophthalmic diagnostics market is moderately competitive and consists of several major players. Few of the key players are developing novel technologies to compete with the existing blockbuster products trending in the market. Furthermore, critical players in the firm are implementing a combination of direct sales force along with distributors to gain market position globally. For instance, in June 2018, Carl Zeiss launched VISULAS green, the next generation of photocoagulation laser that allows ophthalmologists to focus on the treatment procedure without any interruption thereby enhanced procedural efficiency which driving the market. Also, the company announced that its revenue was increased by 14.5 percent in the fiscal year 2018/19 driven by the laser systems, devices and consumables for cataract surgery indicating lucrative growth of the global ophthalmic diagnostics market throughout the forecast period. Furthermore, few key players are entering into partnerships to develop their market position. Some of the companies which are currently dominating the market are Ziemer Ophthalmic Systems AG, Topcon Corporation, Carl Zeiss AG, Metall Zug Ag and Alcon Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Global Incidence of Ophthalmic Disorders Coupled with Rise in Diabetes

      2. 4.2.2 Rise in Government Support to Control Visual Impairment and Rapid Advancements in the Ophthalmic Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Higher Cost of the Ophthalmic Devices and Treatment

      2. 4.3.2 Lack of Awareness and Skilled Ophthalmologists in Emerging Nations

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Corneal Topographers

      2. 5.1.2 Fundus Cameras

      3. 5.1.3 Ophthalmoscopes

      4. 5.1.4 OCT Scanners

      5. 5.1.5 Retinoscopes

      6. 5.1.6 Refractors

      7. 5.1.7 Others

    2. 5.2 By Application

      1. 5.2.1 Retinal Evaluation

      2. 5.2.2 Glaucoma Detection

      3. 5.2.3 Surgical Evaluation

      4. 5.2.4 Refraction Assessment

      5. 5.2.5 Others

    3. 5.3 By End-user

      1. 5.3.1 Hospitals

      2. 5.3.2 Speciality Clinics

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United states

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Marco Ophthalmic Inc.

      2. 6.1.2 Topcon Corporation

      3. 6.1.3 Nidek Co. Ltd

      4. 6.1.4 Carl Zeiss Meditec AG

      5. 6.1.5 Alcon Inc.

      6. 6.1.6 Lumenis Ltd

      7. 6.1.7 Metall Zug Group

      8. 6.1.8 Lumibird Group

      9. 6.1.9 EssilorLuxottica

      10. 6.1.10 Ziemer Ophthalmic Systems AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Ophthalmology Diagnostics Market market is studied from 2018 - 2026.

The Ophthalmology Diagnostics Market is growing at a CAGR of >4.15% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Topcon Corporation, Ziemer Ophthalmic Systems AG, Alcon Inc., Metall Zug Group, Carl Zeiss Meditec AG are the major companies operating in Ophthalmology Diagnostics Market.

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