Direct Ophthalmoscope Market: Introduction
- An ophthalmoscope is a handheld device used to examine the interior structure of the eyes. Ophthalmoscopes combine a light source and lenses to allow a physician to examine the interior structure of the eyes. These devices are primarily used to examine the rear area of the eye and structure of the retina. Ophthalmoscopes are used in ophthalmoscopy, which is a part of the regular examination of eyes. Ophthalmoscopy is employed in conditions, in which patients suffer from headache or swollen optic disc.
Global Direct Ophthalmoscope Market: Key Trends
- Increase in incidence of ophthalmological diseases such as glaucoma and retinal vascular diseases is a major factor projected to boost the growth of the global direct ophthalmoscope market during the forecast period. According to the American Academy of Ophthalmology, glaucoma affects around 2.7 million people in the U.S. aged 40 and over. Increase in incidence of chronic disorders such as diabetes mellitus and hypertension, which can lead to retinopathy, is another factor fueling the growth of the global market. Technological advances such as laser ophthalmoscopy, increase in health care spending, rise in awareness among people about eye care, and surge in the elderly population are the other factors propelling the global market. However, lack of awareness about ocular diseases in emerging markets is projected to hamper the growth of the global market during the forecast period.
- Technological advances in the field of diagnostics have resulted in enhanced product development. Key manufacturers focus on the development of new ophthalmoscopes to meet the unmet needs of ophthalmic diagnostic practices. Increase in product releases by leading competitors is anticipated to boost market growth during the forecast period. In Japan, for example, Nidek Co. Ltd. released the Mirante Scanning Laser Ophthalmoscope in 2019. The gadget is a multimodal fundus imaging platform that combines a scanning laser ophthalmoscope with optical coherence tomography. Hence, introduction of new products is expected to drive the global direct ophthalmoscope market.
- The COVID-19 pandemic is likely to restrain the global direct ophthalmoscope market. Since December 2019, the coronavirus has spread throughout China and across the world, resulting in rapid increase in confirmed cases. The disease has spread to over 100 countries, prompting the World Health Organization to declare it a public health emergency. According to the World Health Organization Coronavirus Illness (COVID-19) Dashboard, the manifestation of the coronavirus disease has resulted in over 11 million infected individuals globally as of September 2020.
North America to Capture Major Share of Global Direct Ophthalmoscope Market
- The global direct ophthalmoscope market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2020. This is attributed to increase in incidence of chronic diseases and glaucoma leading to diabetic retinopathy. Moreover, technological advances, increase in public awareness about diagnosis, and high health care expenditure are the other factors driving the direct ophthalmoscope market in North America. Europe is expected to account for significant share of the global direct ophthalmoscope market during the forecast period owing to increase in the geriatric population. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period driven by rise in the geriatric population and availability of health care solutions for the elderly.
Key Players Operating in Global Direct Ophthalmoscope Market
Major players operating in the global direct ophthalmoscope market are:
- Medline Industries, Inc.
- Heine USA Ltd.
- US Ophthalmic
- Welch Allyn
- Dino-Lite Europe
- HONSUN Group
- Rudolf Riester GmbH
- IRIDEX Corporation
- Zumax Medical Co., Ltd.
- Oscar Boscarol S.r.l.
- Suzhou Kangjie Medical, Inc.
- NIDEK, Inc.
- Other players
Global Direct Ophthalmoscope Market: Research Scope
Global Direct Ophthalmoscope Market, by Indication
- Diabetic Retinopathy
- Lattice Degeneration
- Retinal Repair
- Segmental Photocoagulation
Global Direct Ophthalmoscope Market, by End-user
- Private Eye Clinics
- Eye Hospitals
- Outpatient Retinal Clinics
Global Direct Ophthalmoscope Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.