The miniature retinal scanner devices are witnessing significant market growth with increasing application in treating a wide range of eye disorders such as diabetic retinopathy, retinal detachment, epiretinal membrane, and macular hole. Growth of retinal scanner devices is mainly attributed to continuous equipment modifications, commercial availability of technologically-advanced platforms, and changing lifestyles. Rise in adoption of minimally-invasive surgeries along with a constant rise in the geriatric population that is highly susceptible to retinal disorders, is further driving the global miniature retinal scanners market.
Global Miniature Retinal Scanners Market: Dynamics
Increase in Incidence Rate of Eye-related Disorders Boosting Market
Incidence of eye-related diseases, especially in the developed countries, has increased significantly, which in turn is anticipated to boost the miniature retinal scanners market during the forecast period. According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from 24.4 million in 2010 to 30.5 million by 2020; and the number of people suffering from diabetic retinopathy in the U.S. is projected to increase from 7.7 million in 2010 to 9.2 million by 2020. The number of recorded patients for open angle glaucoma and Age-Related Macular Degeneration (AMD) in the U.S. was 2.7 million and 2.1 million, respectively. These numbers are projected to increase to 3.3 million and 2.5 million, respectively, by 2020.
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Increasing patient pool in developing countries as well as developed countries is estimated to propel the expenditure on eye treatments in each region and thus, drive the miniature retinal scanners market during the forecast period. Hence, rise in incidence rate of ophthalmic disorders across the globe and increase in awareness about the same are projected to drive the miniature retinal scanners market during the forecast period.
Significant Rise in Awareness about Diagnosis and Treatment of Eye Disorders to Boost Market
There is a lack of comprehensive knowledge and awareness among patients suffering from eye diseases around the world. Significant awareness and knowledge about eye diseases is witnessed in case of patients with a family history of eye diseases. They were significantly more aware and more knowledgeable about eye diseases. Rising health education initiatives in emerging regions to seek early treatment for eye diseases and prevent visual impairment are anticipated to boost the global miniature retinal scanners market.
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Global Miniature Retinal Scanners Market: Competitive Landscape
Major players operating in the global miniature retinal scanners market include AOptix, BioEnable Technologies Pvt. Ltd., Crystal HR & Security Solutions (P) Ltd., EyeVerify, Inc., Fraunhofer IPMS, and HEINE Optotechnik.
AOptix Technologies Inc.
AOptix Technologies, Inc. provides communication products as well as services. The company offers adaptive optics technology services for the commercial as well as defense wireless communications sector, and advanced iris recognition biometrics. AOptix Technologies operates through the U.S.
BioEnable Technologies Pvt. Ltd
BioEnable Technologies Pvt. Ltd is ranked among the STQC certified suppliers of biometric products for Aadhaar project in India. They provide enterprise grade access controllers with integrated card, fingerprint & face recognition technologies across the globe.
Global Miniature Retinal Scanners Market: Segmentation
The global miniature retinal scanners market can be segmented based on:
In terms of application, the miniature retinal scanners market can be classified into:
- Medical Diagnosis
- Banking & Finance
- Defense & Security
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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