Next Generation Optical Biometry Devices Market by Product Type (Swept-Source Optical Coherence Tomography (OCT) Based Biometers, Partial Coherence Interferometry (PCI) Based Biometers, Optical Low Coherence Reflectometry (OLCR) Based Biometers), End User & Region – Forecast 2022 – 2028

Next Generation Optical Biometry Devices Market Snapshot

[248 Pages Report] As per Future Market Insights’ latest published report, the global Next Generation Optical Biometry Devices Market was valued at US$ 320.7 Mn in 2021. 

Sales of next generation optical biometry devices are slated to rise at a CAGR of 5.4% to reach US$ 461.3 Mn by 2028.

In 2021, next generation optical biometry device shipments represented 16.1% share of the global ophthalmic imaging devices market. Hospitals account for 41.8% revenue share of the next generation optical biometry devices

Sales Analysis of Next Generation Optical Biometry Devices (2013 to 2021) Vs Market Estimates (2022 to 2028)

As per FMI, the global next generation optical biometry devices market was valued at US$ 320.7 Mn in 2021.

Increasing incidence of eye diseases such as cataract and refractive errors coupled with rising number of eye care clinics and hospitals across the world are factors driving adoption of next generation optical biometry devices.

With advancements in technology, next generation optical biometry devices have been developed aiding measurement of eyes before refractive and cataract surgeries.

Next generation optical biometry devices are automated and measure various parameters such as axial length, anterior chamber depth, thickness of lens, retinal thickness, pupil size, and much more.

Next generation optical biometry devices are an accurate alternative for precise measurements and provide efficient results. Also, next generation optical biometry equipment avoid operator variations in measurements.

Rapid increase in the number of probe infections due to usage of ultrasound devices lead to post-operative errors, fueling demand for next generation optical biometry devices instead of ultrasound devices.

Manufacturers of next generation optical biometry devices are introducing automated instruments that are more efficient in measuring the segments of the eyes. Next generation optical biometry device suppliers are working on strengthening the related software to provide detailed information about the eye segments.

Companies manufacturing optical biometry devices are collaborating with local distributors/retailers to increase the product penetration of next generation optical biometry equipment.

Considering this, it is expected that the global next generation optical biometry devices market will rise at a CAGR of 5.4% over the forecast period.

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Which Regional Market is Set to Showcase Exceptional Growth in Next Generation Optical Biometry Devices?

The North American next generation optical biometry devices market is projected to account for 26.8% of the global market share in 2022.

According to the Prevent Blindness organization, 25 Mn Americans having cataract require medical care every year in the U.S., thereby boosting demand for next generation optical biometry equipment in the region.

Rising acceptance of advanced optical biometry equipment, quick development of eye care infrastructure, and changing lifestyles are some of the factors that are predicted to contribute to next generation optical biometry devices market expansion in the region.

Next Generation Optical Biometry Devices Market - Country-wise Analysis

How is the U.S. Emerging as an Attractive Investment Destination for Next Generation Optical Biometry Device Suppliers?

The U.S. government has increased its healthcare expenditure to approximately 7% by providing Medicare and Medicaid services - fueling availability of reimbursement for cataract surgeries. This is driving demand for advanced next generation optical biometry devices.

Patient safety is of topmost priority in the U.S., which signals demand for faster and better ocular imaging. Emergence of optical devices, high potency and fastness of these devices, and growing number of hospitals are factors driving market growth of next generation optical biometry instruments and devices in the U.S.

What is the Driving Force Behind Demand Growth of Next Generation Optical Biometry Devices in the U.K.?

Growing demand for next generation optical biometry devices is being noted in the U.K due to rising number of cataract surgeries.

Growing use of next generation optical biometry devices for cataract surgeries in hospitals as well as progressive increase in the number of government and private hospitals in the U.K are expected to boost demand growth of next generation optical biometry devices.

Increase in the number of cataract treatments performed and rising adoption of innovative practices for such procedures will also propel the market forward.

Next Generation Optical Biometry Devices Market - Category-wise Analysis

Which Type of Next Generation Optical Biometry Devices are Most Popular?

In terms of revenue, swept-source optical coherent based biometry devices will account for significant revenue share in the next generation optical biometry devices industry over the forecast period. Swept-source optical coherent based biometry devices are set to exhibit highest revenue share in the next generation optical biometry devices market

Swept-source optical coherent based optical biometry devices are gaining popularity in the U.S. market. This category of next generation optical biometry devices is used especially at hospitals and ophthalmology clinics and specialized eye centers.

Some of the qualities driving demand for swept-source optical coherent based biometry devices include fast data capture, several measurements in a single process, enhanced wavelength, and the capacity to overcome ocular opacities.

The superiority of swept-source optical coherent based biometry devices over partial coherent interferometry is demonstrated by their ability to measure the axial length along six separate axes.

Which End User Generates High Revenue from Next Generation Optical Biometry Device Sales?

Hospitals account for 41.8% revenue share in next generation optical biometry device demand.

The market is predicted to grow as the number of private and government hospitals gradually increases. Growing use of next generation optical biometry devices in medical settings, such as hospitals, is expected to boost overall market expansion.

Medical services and vision benefits offered under Medicare include cataract surgeries, which will increase demand for next generation optical biometry devices over the coming years. Patients' increased trust in hospitals that are committed to providing all types of medical solutions will further fuel market growth.

COVID-19 Impact on Demand for Next Generation Optical Biometry Devices

COVID-19 posed significant challenges to the optical biometry devices market in recent months, pushing market participants to the limit. Companies are finding it harder to make informed judgments regarding their products, supply networks, and regulatory duties while the COVID-19 pandemic continues to unfold.

COVID-19 forced a lot of people to postpone medical treatment, which has the potential to have a significant influence on the healthcare industry. Manufacturers are figuring out how to recover from the current situation by reorganizing their sales channels and introducing new products. The global market for next generation optical biometry devices is likely to stabilize over the coming years.

Next Generation Optical Biometry Devices Market - Competitive Landscape

The competition section of the next generation optical biometry devices industry report features the profiles of key players based on their market shares, differentiating strategies, product offerings, and marketing approach.

• Carl Zeiss AG offers diversified next generation optical biometry devices, which include IOL master 500 with Partial coherence interferometry (PCI) and IOL master 700 with swept-source optical coherent technology. Next generation optical biometry devices provide accuracy and efficiency, which are the foundation for calculating the IOL power.

Key manufacturers of next generation optical biometry devices are focusing on novel marketing strategies to increase product penetration. Companies supplying next generation optical biometry products are concentrating on price floor strategies and offering lucrative discounts.

Next Generation Optical Biometry Devices Market Report Scope

Key Segments of Next Generation Optical Biometry Devices Industry Survey

Next Generation Optical Biometry Devices Market by Product Type

• Swept-Source Optical Coherence Tomography (OCT) Based Biometers
• Partial Coherence Interferometry (PCI) Based Biometers
• Optical Low Coherence Reflectometry (OLCR) Based Biometers

Next Generation Optical Biometry Devices Market by End User

• Hospitals
• Ophthalmology Clinics and Specialized Eye Care Centers
• Ambulatory Surgical Centers

Next Generation Optical Biometry Devices Market by Region

• North America Next Generation Optical Biometry Devices Market
• Latin America Next Generation Optical Biometry Devices Market
• Europe Next Generation Optical Biometry Devices Market
• East Asia Next Generation Optical Biometry Devices Market
• South Asia & Pacific Next Generation Optical Biometry Devices Market
• Middle East & Africa (MEA) Next Generation Optical Biometry Devices Market