NEW YORK, June 20, 2022 /PRNewswire/ -- As per Zion Market Research study, The global ophthalmic ultrasound imaging system market was nearly USD 3,953.2 million in 2021 and is anticipated to reach around USD 6,014.21 million by 2028, with a compound annual growth rate (CAGR) of around 8.4 percent over the forecast period.
Key Industry Insights & Finding of the Ophthalmic Ultrasound Imaging System Market Reports:
- As per the analysis shared by our research analyst, the Ophthalmic Ultrasound Imaging System Market is expected to grow annually at a CAGR of around 8.4 % (2022-2028).
- Through the primary research, it was established that the Ophthalmic Ultrasound Imaging System Market was valued approximately USD 3,953.2 Million in 2021 and is projected to reach to roughly USD 6,014.21 Million by 2028.
- The existence of a large senior population in Europe would make it a lucrative market for ophthalmic ultrasound imaging systems.
- The primary reasons driving market growth in this region is the presence of various ophthalmic associations, including the European Society of Ophthalmology (ESC) and the European Society of Cataract and Refracting Surgeons, which encourage the practice and research of contemporary ophthalmology.
- With the highest rates of glaucoma and uncorrected refractive errors in the world, Asia Pacific might be a lucrative market for ophthalmic ultrasound imaging systems in the forthcoming years.
Zion Market Research published the latest report titled as "Ophthalmic Ultrasound Imaging System Market By Mobility (Portable And Standalone), By Product (Combined Scan, A-Scan, B-Scan, Ultrasound Biomicroscopy (UBM), And Pachymeter), By End-Use (Ambulatory Surgical Centers, Hospitals, Ophthalmic Clinics, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 - 2028." into their research database.
Ophthalmic Ultrasound Imaging System Market: Overview
The ophthalmic ultrasound imaging system is a form of non-invasive viewing technology that is more convenient. Ophthalmic ultrasound imaging devices allow for the imaging of anatomy and disease in the eye's frontal and posterior segments. A transducer probe is put in a medium in ophthalmic ultrasound imaging systems, which creates waves of a certain frequency that impact internal structures in the eye. The waves collected by the transducer, as well as the voltages that arise, are intensified and analyzed to create pictures. Different sorts of modalities are employed according to the ocular disease or disorder.
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Industry Dynamics:
Ophthalmic Ultrasound Imaging System Market: Growth Drivers
- Growing prevalence of ocular disorders and diseases is anticipated to drive the market growth.
The rising prevalence of eye diseases such as angle trauma, neoplasms, ciliary body cysts, cataract, glaucoma, and uncorrected refractive errors is propelling the growth of the global ophthalmic ultrasound imaging system market. Eye diseases have risen as a real concern to populations in many developing and developed economies. Diabetic retinopathy has been added to the priority list since the prevalence of diabetes has increased in several nations. According to recent research done by the CDC, diabetic retinopathy affects about one-third of persons over the age of 40 who have diabetes. Diabetic retinopathy affected 4.2 million individuals, with 655,000 of them having vision-threatening diabetic retinopathy. Also, due to problems in early identification and the frequent need for life-long therapies, glaucoma, a long-known eye condition, remains on the public health agenda. Such a huge burden of disease has led to the increasing use of ophthalmic ultrasound imaging systems thereby boosting the growth of the market. Further, the use of portable imaging systems is also fostering the growth of the market.
Ophthalmic Ultrasound Imaging System Market: Restraints
- Increase in adoption of alternative diagnostic tools may hamper the market growth.
The market for ophthalmic ultrasound imaging systems is projected to be constrained by the development and use of other diagnostic technologies. Optical biometry devices that use partial coherence interferometry are preferred by ophthalmic surgeons and practitioners. Unlike ophthalmic ultrasound imaging systems, which need extensive training for examiners to minimize handling mistakes, optical biometry devices (such as IOL Master 700 and Carl Zeiss Meditech's IOL Master 500) are quick and simple to use and have been shown to be more accurate. In addition to this, the cost of a high-tech ophthalmology system is projected to stifle the market for ophthalmic ultrasound imaging systems. The high price of these devices has a negative impact on the primary clients of these devices, such as hospitals and specialist clinics, stifling the growth of the market.
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Global Ophthalmic Ultrasound Imaging System Market: Opportunities
- Increase in clinical applications and advancing technologies is expected to fuel the market growth during the forecast period.
With the development of minimally invasive operations, new technological platforms provide better imaging reliability, precision, safety, and reduced post-operative discomfort. To meet the needs and demands of patients, numerous manufacturers are substantially investing in the development of breakthrough diagnostic and surgical platforms. As a consequence, various ophthalmology gadgets expand in popularity and acceptability, propelling the global ophthalmic ultrasound imaging system market further.
Global Ophthalmic Ultrasound Imaging System Market: Challenges
- Low adoption of ophthalmic ultrasound imaging systems in underdeveloped countries may be a challenge for market growth.
The market for ophthalmic ultrasound imaging systems may face challenges due to a lack of knowledge and awareness in underdeveloped nations. This is mainly attributed to less-developed healthcare infrastructure, low disposable income, and less spending on healthcare. In addition to this, due to the strict rules of regulatory bodies such as the Japanese FDA, the European CE Mark, and the US Food and Drug Administration (FDA), the approval process takes a long time. This also acts as a challenge to market growth.
Global Ophthalmic Ultrasound Imaging System Market: Segmentation
- The global ophthalmic ultrasound imaging system market is divided based on mobility, product, end-use, and region.
Based on mobility, the global market is categorized into portable and standalone. The product segment is classified into combined scan, A-scan, B-scan, Ultrasound Biomicroscopy (UBM), and pachymeter. The end-use segment is characterized by ambulatory surgical centers, hospitals, ophthalmic clinics, and others.
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List of Key Players of Ophthalmic Ultrasound Imaging System Market :
- Escalon Medical Corp
- Optos
- Quantel Medical
- NIDEK CO. Ltd.
- Halma plc
- Carl Zeiss Meditech
- Ellex
- MicroMedical Devices
- Appasamy Associates
Key questions answered in this report:
- What are the growth rate forecast and market size for Ophthalmic Ultrasound Imaging System Market ?
- What are the key driving factors propelling the Ophthalmic Ultrasound Imaging System Market forward?
- What are the most important companies in the Ophthalmic Ultrasound Imaging System Market Industry?
- What segments does the Ophthalmic Ultrasound Imaging System Market cover?
- How can I receive a free copy of the Ophthalmic Ultrasound Imaging System Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 3953.2 Million |
Revenue forecast in 2028 | USD 6014.21 Million |
Growth Rate | CAGR of almost 8.4 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Escalon Medical Corp, Optos, Quantel Medical, NIDEK CO. Ltd., Halma plc, Carl Zeiss Meditech, Ellex, MicroMedical Devices, and Appasamy Associates |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/3359 |
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Regional Dominance:
- North America is likely to lead the market for ophthalmic ultrasound imaging systems.
Over the anticipated period, North America is likely to dominate the global ophthalmic ultrasound imaging system market. This is attributed to improved healthcare infrastructure and increased healthcare spending. Furthermore, the market is expected to be boosted by the existence of a significant number of key players and suppliers. The existence of a large senior population in Europe would make it a lucrative market for ophthalmic ultrasound imaging systems. One of the primary reasons driving market growth in this region is the presence of various ophthalmic associations, including the European Society of Ophthalmology (ESC) and the European Society of Cataract and Refracting Surgeons, which encourage the practice and research of contemporary ophthalmology. With the highest rates of glaucoma and uncorrected refractive errors in the world, Asia Pacific might be a lucrative market for ophthalmic ultrasound imaging systems in the forthcoming years.
Global Ophthalmic Ultrasound Imaging System Market is segmented as follows:
Ophthalmic Ultrasound Imaging System Market: By Mobility Outlook (2022-2028)
- Portable
- Standalone
Ophthalmic Ultrasound Imaging System Market: By Drug Class Outlook (2022-2028)
- Antiallergy
- Anti-VEGF Agents
- Anti-inflammatory
- Antiglaucoma
- Others
Ophthalmic Ultrasound Imaging System Market: By Product Outlook (2022-2028)
- Combined Scan
- A-Scan
- B-Scan
- Ultrasound Bio-microscopy (UBM)
- Pachymeter
Ophthalmic Ultrasound Imaging System Market: By End-Use Outlook (2022-2028)
- Ambulatory Surgical Centers
- Hospitals
- Ophthalmic Clinics
- Others
Ophthalmic Ultrasound Imaging System Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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