Ophthalmic Diagnostic Equipment Market Players Investing in Cutting-Edge Tech to Consolidate their Position

Jun 30,2020 | Healthcare

As per NCBI, the number of people suffering from diabetic retinopathy will increase from 126.6 Mn in 2010 to 191 Mn by 2030. It also states that VTDR (Vision-threatening Diabetic Retinopathy) will witness an increase from 37.3 Mn to 56.3 Mn in the same period.

Ophthalmic Diagnostic Equipment Market

A recent market study published by Future Market Insights (FMI) on the ophthalmic diagnost...

Ophthalmic Diagnostic Equipment Market

The above-mentioned figures, coupled with an influx of ophthalmic diagnostic centres in the countries like India and China (homes to the 2 top-seeded diabetic patients) are expected to drive the ophthalmic diagnostic equipment market in the forecast period.

Plus, the reimbursement scenario regarding eye care treatment is improving in developed and developing countries alike. Initially, reimbursement was possible only if there was a hospital stay for at least 24 hours.

However, the present scenario is such that LASER technology enables single-day treatment and insurance coverage is applicable therein. So, people in low-income countries will also not shy away from availing eye care treatments.

Key Takeaways of Ophthalmic Diagnostic Equipment Market Study

  • The optical coherence tomography (OCT) held the largest share in the global ophthalmic diagnostic equipment market in 2019
  • North America and Europe are expected to hold close to 30% of the global ophthalmic diagnostic equipment market in 2020 and the trend is expected to continue In the forecast period
  • Asia Pacific expected to witness an exponential growth in the forecast period

“Increasing eye-related disorders coupled with market players focusing on technologically advanced ophthalmic diagnostic equipment are expected to substantiate the global ophthalmic diagnostic equipment market”, says FMI analyst.

Expansion and Visibility: Indigenous Strategies for Market Players

The ophthalmic diagnostic equipment market players are focusing on qualitative expansion and visibility to sustain their foothold in the ophthalmic diagnostic equipment market. Some of the steps taken on this count include:

  • In June 2020, IBM Watson partnered with Japan-based Topcon Corporation in order to fast-track the development of products and services that improve the diagnosis, and treatment of eye disease, ultimately improving access for better patient care.
  • In June 2020, Essilor collaborated with Michelin for jointly launching an UN-certified awareness campaign named “Together for safe mobility: Check your vision, check your tires”. The basic objective is to throw light on good vision apart from good tires. This campaign is likely to increase the demand for ophthalmic diagnostic equipment worldwide as UN has officially recommended road safety goals at a global level.
  • Ellex is working in close collaboration with the ophthalmic physicians across the globe regarding minimally invasive options for treatment of glaucoma.

What else is in the report?

Future market insights offer a unique perspective and actionable insights on ophthalmic diagnostic equipment market in its latest study, presenting historical demand assessment from 2015 – 2019 and projections from 2020–2030 based on product type (Fundus Cameras, Retinal Ultrasound Imaging Systems, Refractors, Slit Lamps, Perimeters, Ophthalmoscopes, Tonometer, Optical Coherence Tomography (OCT), Corneal Topography Systems), by end user (Hospitals, Clinics, Ambulatory Surgical Centers) in seven key regions.

About the Healthcare Division at Future Market Insights

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.