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Global Ophthalmoscope Market - Outlook and Forecast 2022-2027
The global ophthalmoscopes market is experiencing steady growth, with a valuation of USD 53.02 million in 2021 and an expected reach of USD 73.90 million by 2027, growing at a CAGR of 5.69%. Ophthalmoscopy, performed using ophthalmoscope devices, is a crucial part of eye examinations used to assess the vitreous humor, optic disc, and retina. It is instrumental in detecting retinal vascular diseases such as glaucoma, cataracts, diabetic retinopathy, and age-related macular degeneration. Ophthalmoscopy plays a vital role in routinely monitoring diabetic retinopathy in patients with diabetes mellitus.
The increasing prevalence of eye diseases is driving the demand for eye testing equipment. Globally, there are approximately 596 million people suffering from distance vision impairment, with 43 million being blind. Around 510 million individuals have uncorrected near vision impairment, predominantly in low-middle-income countries. By 2050, it is projected that 895 million people will have distance vision impairment, with 61 million being blind. This growing target population presents significant growth opportunities in the market.
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USD 53 billion in 2020
Type, Indication, End-User, and Geography
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Technological advancements and innovative products are optimizing the usage of ophthalmoscope devices. Scanning laser ophthalmoscopes, which have been available since the 1990s, are gaining popularity due to their advantages. These ophthalmoscopes can capture images of the ocular fundus with broader views, high resolution, and the ability to detect abnormal alterations in the choroid and retina. The medical laser industry, including ophthalmoscopes, is expected to grow at a CAGR of 13.9% from 2022 to 2027.
Indirect laser ophthalmoscopy, smartphone-based indirect ophthalmoscopes, and vision boost technology are revolutionizing the industry. The expanding application of ophthalmoscopes in other medical fields, such as neurology and headache treatment, will create new opportunities in the future.
Manufacturers are actively promoting awareness of ophthalmoscope technology advancements, driving market expansion. Additionally, increasing healthcare expenditures for the treatment of vision loss and sight-threatening disorders fuel the demand for primary eye care and examinations, thereby increasing the need for crucial equipment like ophthalmoscopes. The rising prevalence of eye diseases further drives the demand for eye examinations and ophthalmoscopy for conditions such as cataracts, glaucoma, diabetic retinopathy, and age-related macular degeneration.
The accessibility of eye care services in developed countries, coupled with the increasing prevalence of eye conditions, has contributed to the higher application rate of ophthalmoscopes. The global burden of vision impairment is substantial, with untreated myopia and presbyopia alone resulting in estimated annual productivity losses of USD 244 billion and USD 25.4 billion, respectively.
In conclusion, the global ophthalmoscopes market is poised for growth due to technological advancements, increasing awareness, and the rising incidence of eye diseases. With the expanding target population and demand for eye care services, the market is expected to reach USD 73.90 million by 2027.
The market is segmented based on various factors, including type, indication, end-user, and geography.
Segmentation by Type
Segmentation by Indication
Age-Related Macular Degeneration
Segmentation by End-User
Eye Clinics & Hospitals
Ophthalmologist & Optometrist
Ambulatory Surgical Centres
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain
APAC – China, Japan, India, South Korea, Australia
Latin America – Brazil, Mexico, Argentina
Middle East & Africa – South Africa, Saudi Arabia, Turkey
The Ophthalmoscopes market is divided into two segments: direct and indirect ophthalmoscopes. Some of the major manufacturers of direct ophthalmoscopes include Welch Allyn, Nidek Inc, Heine USA Ltd., US ophthalmic, Honsun Group, Iridex Corporation, Oscar Boscarlol S.r.l., Zumax Medical Co. Ltd, Rudolf Riester GmbH, Dino-Lite Europe, and Medline Industries Inc. In 2021, direct ophthalmoscopes held a prime position in the industry, accounting for 60.16% of the market share.
Leading manufacturers of indirect ophthalmoscopes include Nidek Co. Inc, Ellex Medical Laser Ltd, Carl Zeiss, Ziemer Ophthalmic System Ag, Keeler Ltd, Heine Optotechnik GmbH, Topcon Medical Laser System, Iridex Corporation, Lumenis Ltd, and others. The presence of these players with a wide range of product portfolios creates a dynamic nature within the industry. The high number of market players and their global distribution channels contribute to the growth of the market.
The indication market is segmented based on various eye diseases such as glaucoma, diabetic retinopathy, retinal detachment, age-related macular degeneration, cataracts, macular pucker, corneal opacities, trachoetc ma, presbyopia, myopia, astigmatism, peripheral neovascularization, lattice degeneration, etc. In 2021, the glaucoma segment dominated the market with a 31.81% market share. Other significant indications include diabetic retinopathy (23.37% market share), age-related macular degeneration (18.03% market share), and retinal detachment (5.27% market share).
The end-user segment comprises eye clinics and hospitals, ophthalmologists and optometrists, and ambulatory surgical centers. The presence of eye clinics and hospitals drives the high application rate of ophthalmoscopes for eye testing, accounting for 52.34% market share in 2021. Ophthalmologists, optometrists, and ambulatory surgical centers account for 32.80% and 14.86% industry share, respectively. Ambulatory surgical centers are widely accepted in eye care services, contributing to the overall growth of the industry.
North America has widespread availability of eye care services, leading to a high application rate of ophthalmoscope medical devices. Factors such as the high prevalence of eye conditions, better access to eye examinations, and increased awareness drive the market in this region, which accounted for a 38.82% share in 2021. Europe follows closely with a 32.89% market share, experiencing steady growth in ophthalmoscope use due to an increasing frequency of diabetic retinopathy, glaucoma, and cataracts.
The APAC region is notable for its high prevalence of diabetes, which drives the use of ophthalmoscopes for identifying diabetic retinopathy. Additionally, the dense and aging population in the region positively influences market growth, accounting for a 20.23% market share. Latin America is an emerging market with increasing eye care expenditure, a growing patient population, and rising demand for eye care services, representing a 5.04% market share in 2021. Middle East & Africa present significant growth opportunities, driven by a large population suffering from glaucoma, diabetic retinopathy, and blindness, as well as increasing government initiatives. In 2021, Middle East & Africa accounted for a 3.01% market share in the global ophthalmoscope market.
In 2021, Heine launched the Omega600, a new indirect ophthalmoscope that brought significant changes to the market. This product incorporates vision boost technology, which enhances illumination and improves the clinician’s ability to assess conditions such as cataracts and vitreous opacities in patients.
According to a 2021 report in the BMJ journal, smartphone ophthalmoscopy technology has potential applications beyond ophthalmology in the context of the COVID-19 era. Smartphone ophthalmoscopes have generally been preferred over traditional direct ophthalmoscopes due to their shorter handling time. These devices enable practitioners to conduct examinations and view the fundus remotely, providing the advantage of long-distance working compared to conventional ophthalmoscopes.
In 2021, the Hillrom company introduced the Welch Allyn PanOptic Plus Ophthalmoscope devices, which offer a viewing area that is 20 times larger than standard ophthalmoscopes. This advancement provides clinicians with an expanded field of view for enhanced examination and diagnosis.
Key companies profiled in this report include Heine USA Ltd, Dino Lite Europe, Iridex Corporation, Halma, Nidek Co. Ltd., Oscar Boscarol S.r.l, Rudolf Riester GmbH, US Ophthalmic, Albert Waeschle, American Diagnostic Corporation, Shanghai Bolan Optical Electric Co Ltd, Carl Zeiss, Ellex, Essilor International (Essilor Instruments USA), Heidelberg Engineering, Invotech Excel, Medline Industries LP, Neitz Instruments Co Ltd, Suzhou Kangjie Medical Inc, Spengler, Topcon Co. Ltd, Lumenis, Zumax Medical, 66 Vision Tech, Zhejiang Honsun Medical Technologies Co. Ltd.
Key Questions Answered
HOW LARGE IS THE OPHTHALMOSCOPES MARKET?
The global ophthalmoscopes market had a valuation of USD 53.02 million in 2021 and is anticipated to reach USD 73.90 million by 2027, exhibiting a CAGR of 5.69%.
WHAT ARE THE RECENT TRENDS IN THE OPHTHALMOSCOPES MARKET?
The latest market trends in the ophthalmoscopes market involve technological advancements and new applications of ophthalmoscopy.
WHO ARE THE MAIN PLAYERS IN THE OPHTHALMOSCOPES MARKET?
The key players in the ophthalmoscopes market include Heine USA Ltd, Dino-Lite Europe, Iridex Corporation, Nidek Co. Ltd., Oscar Boscarol S.r.l, Rudolf Riester GmbH, and US Ophthalmic.
WHAT ARE THE FACTORS CONTRIBUTING TO THE GROWTH OF THE OPHTHALMOSCOPES MARKET?
Factors such as increased awareness among the patient population, expanding eye care services in developed countries, and the prevalence of eye disorders along with surgical procedures are driving the growth of the ophthalmoscopes market.
WHICH END-USER SEGMENT WILL HOLD THE LARGEST SHARE IN THE OPHTHALMOSCOPE MARKET BY 2027?
By 2027, eye clinics and hospitals are expected to hold the largest share in the ophthalmoscope end-user segment.