Ophthalmic Ultrasound Devices Market
Ophthalmic Ultrasound Devices Market by Product (B-Scan, A-Scan, Combined, Pachymeter, Ultrasound Bio Microscope), By Mobility (Portable, Standalone), By End Use and by Region - Global Analysis 2022 to 2032
Market Outlook of Ophthalmic Ultrasound Devices
The that global sales of Ophthalmic Ultrasound Devices Market in 2021 was held at US$ 432.2 Mn. With 9.0%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. A-Scan is expected to be the highest revenue generating segment, accounting for an expected CAGR rate of 9.1% during 2022 – 2032.
Key Points Covered in Ophthalmic Ultrasound Devices Market Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Ophthalmic Ultrasound Devices Market and How to Navigate
- Recommendation on Key Winning Strategies
Revenue of Ophthalmic Ultrasound Devices Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Ophthalmic Ultrasound Devices Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Ophthalmic Ultrasound Devices Markets increased at around 7.5% CAGR.
Ophthalmology specialists use ophthalmic ultrasound devices to detect conditions of the eye, including glaucoma, retinal disorders, and malignancies. The manufacturers of ultrasound technology in this medical field utilize new innovations to make these devices more attractive to medical practitioners.
With the use of ocular ultrasounds in cataract applications and for imaging the posterior eye segment in vitreous haemorrhage, the ophthalmic ultrasound devices industry has made significant progress. The use of point-of-care ocular ultrasound for the diagnosis of retinal detachment is a recent example, providing new opportunities for companies in the ophthalmic ultrasound equipment market.
The rising prevalence of ocular ailments such as diabetic retinopathy, cataracts, as well as regular product introductions, are expected to propel the market forward. Market growth is expected to be aided by the availability of effective reimbursement systems such as Medicare and Medicaid. With Covid-19 outbreak, routine healthcare activities were avoided to prevent patients from getting the virus; also, ophthalmology services were disproportionately affected, resulting in a decline in routine clinical treatment, which in turn reduced product demand. This resulted in a significant drop in revenue and the permanent or temporary closure of single ophthalmology practices.
- Ophthalmic Ultrasound Devices Market was valued at US$ 432.2 Mn in 2021. According to Fact.MR, Ophthalmic Ultrasound Devices Market revenue would increase 1.7X times between 2022 and 2032, reaching roughly US$ 1.1Bn in 2032.
- The sub-segment A-Scan for the highest projected growth rate of 9.1% as compared to other segments.
- In terms of segment Mobility, sub segment Standalone accounts for the highest CAGR of 7.3% during 2017-2021.
- US is the dominant market in Ophthalmic Ultrasound Devices Markets with absolute dollar growth opportunity of US$ 200Mn during 2022 – 2032.
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How the Growing Number of Ophthalmic Clinics is estimated to Boost Ophthalmic Ultrasound Devices Market?
The growing number of private and charitable ophthalmic clinics and ambulatory imaging centres in developing countries is expected to boost the global market for ophthalmic ultrasound systems. The rising prevalence of diabetes (which is a leading cause of ophthalmic disorders such as cataract and proliferative diabetic retinopathy), increased awareness of cataract surgery, (which is the leading cause of blindness in the United States), and other ailments such as diabetic retinopathy, diabetic eye disease, glaucoma, and introduction to technologically advanced devices are some of the key factors expected to propel the ophthalmic ultrasound technology market.
The growing number of private and charitable ophthalmic clinics and ambulatory imaging centres in developing countries is expected to boost the global market for ophthalmic ultrasound systems.
How Increase in Cataract Treatment and Diabetic Retinopathy Will Boost the Ophthalmic Ultrasound Devices Market Growth?
Cataract operations are growing in number. According to the forecasts from the National Eye Institute, by 2030, the number of people afflicted with cataracts in the United States could reach about 40 million. Cataract treatments are the sole effective treatment for the condition; only cannula after the optical imaging to understand the eye tweezers and after the procedure so that the lens is correct positioned demonstrate the optical ultrasound technology's importance.
Alternative treatments for a condition called retinal edema are anticipated to allow people to feel more comfortable with their regular eye dose during the anticipated time. Growing occurrence of age-related eye conditions, like age-related macular degeneration, along with an increasing number of various levels of diabetic retinopathy in developing regions are anticipated to increase the demand for vision solutions.
Diabetic retinopathy is the most common retinal eye disorder and the leading cause of blindness. As the number of individuals living with diabetes rises, so does the number of people who experience impaired vision. According to the CDC, diabetic retinopathy affects 1 in 3 people with diabetes. As the number of people with diabetes continues to increase, so do the amount of people with diabetic retinopathy.
The dearth of ophthalmologists incurs longer waiting time in the ophthalmic system, which drives higher binding of patients to alternative treatment procedures than the ones available with ocular surgeries. Since 2019, about 10,000 ophthalmologists were performing about 4 Mn cataract surgeries in the U.S. Cataract patients are expected to double in terms of numbers during the course of the forecast, which will expand the array of operations. As a result, ophthalmologists’ shortage limits the advancement in the eyewear market in the coming years.
Which Region is projected to Offer the Largest Opportunity for Ophthalmic Ultrasound Devices Market?
In 2021, North America held the largest market share because of the significant demand for technologically advanced medical devices, including ultrasounds, CT scans, and MRI scanners. This is mostly due to the high incidence of diabetes in North America, and the presence of numerous foreign supplier and production organizations. Concurrent improvements in imaging agents and products, such as the use of ocular ultrasound equipment, are supporting new therapy paths in eye care.
Ophthalmic ultrasound devices market is further backed up by a recent flurry of clinical trials at various stages, which were conducted in collaboration with clinical-stage medical device businesses and ocular ultrasound equipment makers.
Due to high unmet needs and increasing healthcare infrastructure, particularly in Japan and India, the market in Asia Pacific is expected to grow at the fastest CAGR throughout the projection period. Furthermore, the regional market is likely to be driven by the existence of domestic manufacturers and suppliers, as well as the incidence of ocular ailments. This region offers lower recruitment costs, a diverse and vast patient pool, and favourable policies that encourage expansion.
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Which Country Lies at the CenterStage for Ophthalmic Ultrasound Devices Market Revenue?
Prevalence of eye diseases in the region has been fuelling the growth of the ophthalmic ultrasound devices market in North America. According to the Centers for Disease Control & Prevention, there were roughly 40.9 million contact lens wearers aged 18 and older, accounting for about 16.7 percent of the U.S. adult population, in 2015. The National Eye Institute estimated that approximately 2.9 million American citizens were found to have low vision in 2014. This number is expected to increase to 5 million by the year 2030.
What are the insights about segment A-Scan?
The A-Scan segment is expected to register highest CAGR of 9.1%. One of the primary elements which is expected to encourage sector growth is the high use of A-scan equipment for pre-operative viewing of a detached retina in circumstances such as vitreous haemorrhage, peri-orbital trauma, or lens opacification. A-scan offers significant advantages in cataract procedures, resulting in considerable demand. Furthermore, A-scan employs the most up-to-date transducer and electronic technology in ophthalmic practises, ensuring high reliability and accuracy. As a result, the segment is likely to increase at a considerable rate in the coming years.
Which Sub Segment Acquired the Highest Growth Rate under Mobility?
Standalone Ophthalmic Ultrasound Devices dominated the market during the historical period due to the factors, such as affordability and ease of handling and availability of the solution and exchange offers on standalone devices. Since users are increasingly looking for mobility, portable devices are being replaced by standalone devices that function well. Space constraints in ophthalmologist clinics is another factor which is expected to aid the growth of portable ophthalmic devices demand.
The leading players are focusing on growth strategies, such as innovations in the existing product, frequent product launches, and mergers& acquisitions. Some of the recent developments of key Ophthalmic Ultrasound Devices providers are as follows:
- In March 2019, Quantal medical received U.S. FDA approval for the launch of its product called ABSolu.
- In April 2019, Lantheus announced in April that it would combine its microbubble technology with Cerevast's ocular ultrasound device for the treatment of retinal vascular occlusion. This could be an entryway for newer RVO technologies in the years ahead, which may increase the effective use of recently developed ophthalmic ultrasound systems. Cerevast's investigational ocular ultrasound program is undergoing a Phase 2b clinical trial in the second quarter of 2019.
Similarly, recent developments related to companies offering Ophthalmic Ultrasound Devices have been tracked by the team at Fact.MR, which are available in the full report.
Ophthalmic Ultrasound Devices Market Report Scope
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Market Segments Covered in Ophthalmic Ultrasound Devices Market Analysis
By Product Type
- Ultrasound Bio Microscope
By End Use
- Ambulatory Surgery Centers
- Ophthalmology Clinics
- North America
- Latin America
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