Diagnostic Ophthalmic Devices Market

Diagnostic Ophthalmic Devices Market - An Overview

The global diagnostic ophthalmic devices market is expected to witness moderate growth during the forecast period between 2021 and 2031.

Ophthalmic devices are medical instruments, which help in diagnosis, surgery, and vision correction and have witnessed an increase in demand in the last few years owing to a rise in different eye disorders such as cataract, among different population sections.

Ophthalmic devices are convenient to use and as a result, have been deployed in the treatment of a wide range of eye disorders, globally.

Some of the commonly-used ophthalmic devices include topography systems, slit lamps, optical coherence tomography, fundus cameras, tonometers, and aberrometers.

Diagnostic Ophthalmic Devices Market - Trends and Opportunities

Rising incidence of ocular diseases globally is the key growth driver for the diagnostic ophthalmic devices market.

Also, increasing demand for advanced ocular diagnostic devices among the young population owing to greater awareness about different eye disorders is expected to propel the diagnostic ophthalmic devices market.

Government initiatives and measures, providing information to the public about various eye disorders and make them aware about different ophthalmic devices are also anticipated to positively impact the demand for diagnostic ophthalmic devices.

The ophthalmic coherence tomography product segment is expected to make the largest contribution to the overall market in the coming years owing to factors such as increased efficiency in the treatment of ocular diseases, owing to the deployment of advanced products.

Diagnostic Ophthalmic Devices Market - Competitive Landscape

The global diagnostic ophthalmic market comprises several well-established players, many of whom are anticipated to engage in different growth strategies such as novel product launches, in a bid to remain competitive in the overall market, in the coming years.

Prominent players in the market could collaborate with the lesser-known players in a bid to expand their market presence and increase their revenue shares.

The smaller players in the diagnostic ophthalmic devices market will seek investments from governments and private investors, which would help them in their long-term growth.

Some of the leading players in the diagnostic ophthalmic market include Zeiss International, AMETEK Inc., and Nidek Co. Ltd.

In February 2021, Reichert Technologies, which is a business unit of AMTEK launched the Tono-VeraVet Tonometer in North America, consisting of Actiview Positioning Systems. The systems provide a full-color view of the eye which guides the consumer to the apex of the cornea.

Diagnostic Ophthalmic Devices Market - Regional Assessment

The global diagnostic ophthalmic devices market is divided into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

North America is anticipated to be the dominant region in the global diagnostic ophthalmic devices market in the coming years owing to the increasing adoption of advanced ophthalmology devices in healthcare infrastructure facilities in countries such as the U. S and Canada.

Also, rising prevalence of ocular disorders such as myopia and cataract in these countries is expected to fuel the growth in the diagnostic ophthalmic devices market, in the coming years.

Asia Pacific is expected to provide lucrative growth opportunities for the diagnostic ophthalmic devices market owing to increasing prevalence of cataract surgeries in countries such as India and Japan and rising geriatric population in these countries.

With the ease of availability of key resources such as land and labor in developing economies such as India, leading players could also establish R&D centers in future, which could help grow the market in Asia Pacific.

Europe is expected to witness substantial growth in the diagnostic ophthalmic devices market due to the increasing adoption of advanced devices in countries such as UK and Germany.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall market, in the upcoming years, owing to developing healthcare infrastructure facilities in the countries, in both regions.