Ophthalmic Ultrasound Systems Market is Booming and Expected to Reach USD 4.49 Billion to 2027| TMR Study

Posted on 2024-03-27 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-27 — /EPR Network/ — Transparency Market Research Inc. –

Based on Transparency Market Research’s most recent analysis covering the global ophthalmic ultrasound systems market, spanning from 2017 to 2018 for historical data and projecting into 2019–2027, the prevalence of ocular disorders and diseases is identified as a significant driver for market growth. Additionally, the increasing population of elderly individuals affected by glaucoma is expected to further fuel the expansion of the global ophthalmic ultrasound systems market in the forecast period.

The report highlights that in 2018, the global ophthalmic ultrasound systems market reached a valuation of US$ 2.87 billion. Projections indicate a compound annual growth rate (CAGR) of 5.1% to reach US$ 4.49 Bn from 2019 to 2027, indicating sustained growth momentum in the industry.

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Key Drivers of Global Ophthalmic Ultrasound Systems Market

Rising pollution leads to adverse effects on eye health, including dryness, redness, and vision impairment, with WHO reporting that 71% of air pollution in Chinese cities in 2017 was from tailpipe emissions, contributing to ocular diseases like conjunctivitis.
Increased prevalence of ophthalmic diseases and disorders due to environmental factors drives demand for ophthalmic devices, including ultrasound systems.
Key players in the industry are actively engaged in research and development to meet the growing demand for advanced ophthalmic ultrasound systems, thereby fueling market growth.
Cataract, a leading cause of blindness globally, affects over 22 million people worldwide according to WHO estimates in 2017.
WHO’s Action Plan for the prevention of blindness and initiatives like VISION 2020 aim to increase awareness about cataract, thereby stimulating demand for ophthalmic ultrasound systems.

Leading players:

Ametek, Inc.,Carl Zeiss Meditec AG,Halma plc,NIDEK CO., LTD.,Ellex Medical Lasers Ltd,Quantel Medical (Lumibird),Optos plc (Nikon Corporation),Escalon Medical Corp.,Appasamy Associates,Micro Medical Devices, Inc.

Segmentation-

Product

A-Scan
B-Scan
Combined Scan
Pachymeter
Ultrasound Bio Microscope (UBM)

Modality

Portable
Standalone

End user

Hospitals
Eye Research Institutes
Ambulatory Surgical Centers
Ophthalmic Clinics

Key Developments:

Ellex Medical Lasers Ltd. launched company’s Eye Prime diagnostic ultrasound technology for evaluating pathology of the eye. U.S. Food and Drug Administration clearance was received in April 2019.
In March 2018, Quantel Medical received approval from the U.S. Food and Drug Administration (FDA) or the Next-Generation Compact Touch Ophthalmic Ultrasound Platform
In February 2017, Ametek, Inc. acquired Rauland-Borg Corporation to increase its strength in intelligent workflow technology solutions to hospitals and health care facilities

Market Drivers and Challenges:

Market drivers:

Increasing prevalence of eye diseases
Technological advancements in ultrasound systems
Growing adoption of minimally invasive diagnostic techniques

Market challenges:

High initial setup costs
Stringent regulatory requirements
Limited awareness about ophthalmic ultrasound systems in developing regions

Increase in Prevalence of Ocular Disorders and Diseases Propel Market Growth

The ophthalmology industry is steadily expanding due to the rising prevalence of various eye disorders, particularly cataract and glaucoma, which significantly impact patients’ daily lives. This surge in disorders leads to increased healthcare expenditure and decreased productivity. According to the BrightFocus Foundation, over 3 million Americans are living with glaucoma, with 2.7 million of them aged 40 and older affected by its most common form. Consequently, the increasing prevalence of ophthalmic diseases is expected to propel the growth of the ophthalmic ultrasound system market.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Market Trends:

Integration of artificial intelligence (AI) in ultrasound systems for enhanced diagnostics
Shift towards portable and handheld ultrasound devices
Growing preference for refurbished ultrasound systems due to cost-effectiveness

Future Outlook:

The ophthalmic ultrasound systems market is poised for robust growth in the coming years, fueled by advancements in technology, expanding healthcare infrastructure, and a rising geriatric population. The market is expected to witness increased competition, leading to further innovation and development of advanced ultrasound systems catering to the specific needs of ophthalmic diagnosis and treatment.

Key Market Study Points:

Market size and growth projections
Regional analysis highlighting growth opportunities and market trends
Segmentation analysis based on service type, sourcing type, application, industry vertical, and region
Assessment of market drivers, challenges, and trends
Future outlook and growth prospects

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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