A handheld device employed to examine the interior structure of eyes is known as ophthalmoscope. Ophthalmoscopes are combined with a source of light and lenses, which enables a physician to examine the interior structure of 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.
The global ophthalmoscopes market is expected to expand at a high CAGR during the forecast period. The rising prevalence of ophthalmological diseases such as glaucoma and retinal vascular diseases is one of the important factors projected to drive the global ophthalmoscopes market from 2017 to 2025. According to the American Academy of Ophthalmology, around 2.7 million people aged 40 years or above in the U.S. are affected by glaucoma. Surge in the prevalence of chronic diseases such as diabetes mellitus and hypertension, which can lead to retinopathy, is another key factor likely to drive the global ophthalmoscopes market during the forecast period. Technological advancements such as laser ophthalmoscopy, increase in health care expenditure, rise in awareness among people about eye care, and growth of the geriatric population are some of the factors estimated to augment the market during the forecast period. Lack of awareness about ophthalmic disorders in developing countries is one of the major factors projected to restrain the global ophthalmoscopes market during the forecast period.
The global ophthalmoscopes market can be segmented on the basis of type, indication, end-user, and region. Based on type, the market can be divided into direct ophthalmoscopes and indirect ophthalmoscopes. Based on indication, the market can be classified into diabetic retinopathy, lattice degeneration, retinal repair, segmental photocoagulation, glaucoma, and others. The diabetic retinopathy segment is expected to hold a significant share of the global ophthalmoscopes market during the forecast period, due to factors such as increase in the incidence of chronic diseases such as diabetes. Many a times, glaucoma leads to diabetic retinopathy. Based on end-user, the global ophthalmoscopes market has been segmented into private eye clinics, eye hospitals, and outpatient retinal clinics.
Geographically, the global ophthalmoscopes market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global ophthalmoscopes market. Increase in the prevalence of chronic disorders and glaucoma cases leading to diabetic retinopathy in the region is one of the major factor driving the market in the region. Furthermore, advancements in technology, rise in awareness among people about disease diagnosis, and high health care expenditure are some of the factors promoting growth of the ophthalmoscopes market in North America. Europe is also anticipated to hold a significant share of the global ophthalmoscopes market during the forecast period, due to increase in elderly population in the region. The market in Asia Pacific is anticipated to register a rapid growth rate during the forecast period. Asia Pacific is a highly lucrative market, due to growing geriatric population, adoption of health care solutions for better standards of life, rise in awareness about health care, and prevalence of lifestyle-related diseases in the region. Furthermore, high prevalence of childhood blindness as well as glaucoma is likely to propel the market in Asia Pacific during the forecast period.
In order to maintain a significant position in the market, key players operating in the global ophthalmoscopes market are adopting strategies such as mergers, acquisitions, and cost-effective and collaborative partnerships. Some of the prominent players operating in the global ophthalmoscopes market are Welch Allyn, HEINE USA LTD, HONSUN, and IRIDEX Corporation.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.