Ophthalmic Ultrasound Systems Market
Ophthalmic Ultrasound Systems Market (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) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on the global ophthalmic ultrasound systems market for the historical period 2017–2018 and forecast period 2019–2027, high prevalence of ocular disorder and diseases, to escalate the growth of global ophthalmic ultrasound systems market. Moreover, surge in geriatric population with glaucoma to drive the global ophthalmic ultrasound systems market during the forecast period
- According to the report, the global ophthalmic ultrasound systems market was valued at US$ 2.87 Bn in 2018 and is anticipated to expand at a CAGR of 5.1% from 2019 to 2027
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Rise in Focus on Research & Development and Rise in Awareness about Cataract: Key Drivers of Global Ophthalmic Ultrasound Systems Market
- Adverse effects of rising pollution leading to cause eye dryness, redness and hampering vision. For instance, According to WHO, in 2017, 71% of air pollution caused in cities in China was tailpipe emission which adversely affects the eyes and leads to cause diseases such as conjunctiva. Thus, surge in number of people with various ophthalmic disease and disorders leading to increase in demand for the several ophthalmic devices and equipment thereby drive the growth of ophthalmic ultrasound system market. To address these demands, large number of key players are actively involved in research and development of the existing ophthalmic ultrasound devices and introduce new ophthalmic ultrasound systems thereby boosting the ophthalmic ultrasound system market
- Cataract is the clouding of the lens in the eye, which initially prevents clear vision and eventually progresses to blindness, if left untreated. The WHO estimates that more than 22 million people are bilaterally blind from cataract in the world in 2017. The WHO Action Plan for the prevention of blindness from 2014 to 2019 was approved by the World Health Assembly in May, 2013. VISION 2020 is based on the concept of a broad coalition of all international, nongovernmental, and private organizations that collaborated with WHO, in order to prevent blindness. Thus, government and private organizations initiatives to increase awareness about cataract is anticipated to drive the growth of ophthalmic ultrasound system market
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Increase in Prevalence of Ocular Disorders and Diseases Propel Global Ophthalmic Ultrasound Systems Market Growth
- The ophthalmology industry expanding at a consistent pace in prevalence of several eye disorders that directly influences the demand for various ophthalmology platforms. Cataract and glaucoma are few of the increasing disorders that significantly hamper the daily lives of patients. This increase in disorders results in escalating health care spending and declining productivity. According to the BrightFocus Foundation, estimated more than 3 million Americans are living with glaucoma and 2.7 million of whom-aged 40 and older-are affected by its most common form. Thus, rise in prevalence of ophthalmic diseases is anticipated to drive the growth of ophthalmic ultrasound system market
Adoption of Novel Ophthalmic Technologies Fuel Global Ophthalmic Ultrasound Systems Market Growth
- Novel technological platforms render enhanced imaging reliability, accuracy, safety, and minimal post operative pain with the adoption of minimally invasive surgeries
- Several manufacturers are investing heavily on the development of novel diagnostic and surgical platforms in order to cater to the need and demand from patients. This results in enhanced growth and acceptance of several ophthalmology devices and thereby drive the growth of ophthalmic ultrasound system market
High Pricing of Hi-tech Ophthalmology Systems Hamper the Growth of Ophthalmic Ultrasound System Market
- Price associated with hi-tech ophthalmology system is expected to restrain the growth of ophthalmic ultrasound system market. Prolonged approval timeline due to stringent regulations by regulatory authorities, such as the U.S. Food and Drug Administration (FDA), European CE Mark, and Japan FDA, has collectively led to high pricing of the medical devices. The prime customers of these devices, such as hospitals and specialty clinics are adversely affected by the high price of devices and thereby hamper the growth of global ophthalmic ultrasound system market
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Global Ophthalmic Ultrasound System Market: Competitive Landscape
- This report profiles major players in the global ophthalmic ultrasound system market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global ophthalmic ultrasound system market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global ophthalmic ultrasound system market are
- 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.
Global Ophthalmic Ultrasound System Market: Key Developments
Key players in the global ophthalmic ultrasound system market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global ophthalmic ultrasound system market. A few expansion strategies adopted by players operating in the global ophthalmic ultrasound system market are:
- 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
The report on the global ophthalmic ultrasound system market discussed individual strategies, followed by company profiles of manufacturers of ophthalmic ultrasound system. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global ophthalmic ultrasound system market.
TMR’s report on the global ophthalmic ultrasound systems market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global ophthalmic ultrasound systems market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global ophthalmic ultrasound systems market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global ophthalmic ultrasound systems market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global ophthalmic ultrasound systems market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global ophthalmic ultrasound systems market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global ophthalmic ultrasound systems market.
The report delves into the competitive landscape of the global ophthalmic ultrasound systems market. Key players operating in the global ophthalmic ultrasound systems market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global ophthalmic ultrasound systems market that have been profiled in this report.
Key Questions Answered in Global Ophthalmic Ultrasound Systems Market Report
- What is the scope of growth for product companies in the global ophthalmic ultrasound systems market?
- What will be the Y-o-Y growth of the global ophthalmic ultrasound systems market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global ophthalmic ultrasound systems market?
- Will North America continue to be the most profitable market for ophthalmic ultrasound systems providers?
- Which factors are anticipated to hamper the growth of the global ophthalmic ultrasound systems market during the forecast period?
- Which are the leading companies in the global ophthalmic ultrasound systems market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global ophthalmic ultrasound systems market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary research sources referred to by analysts during the production of the global ophthalmic ultrasound systems report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the ophthalmic ultrasound systems market as primary methods.
These primary research respondents have provided exclusive information during interviews, which serves as a validation from the ophthalmic ultrasound systems market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global ophthalmic ultrasound systems market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global ophthalmic ultrasound systems more reliably and accurately.
Regional Segmentation of Ophthalmic Ultrasound Systems Market
- 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
Global Ophthalmic Ultrasound Systems Market - Segmentation
Ultrasound Bio Microscope (UBM)
Eye Research Institutes
Ambulatory Surgical Centers
Middle East & Africa