Ophthalmoscope Market Size & Share, by Application (Glaucoma, Retinal Tear, Diabetes); End-user (Hospitals, Eye Clinics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3999
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

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Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Ophthalmoscope Market size is expected to cross USD 363 Million by the end of 2035, witnessing around 4% CAGR during the forecast period i.e. 2023-2035. In the year 2022, the industry size of ophthalmoscopes was USD 244 Million.  The rising cases of ocular diseases such as glaucoma, corneal opacification, and others necessitate the use of instruments such as ophthalmoscopes for medical personnel to monitor and examine. In 2020, there were more than 590 million people reported distance vision impairment worldwide. By 2050, it's predicted that number will rise to over 890 million, with about 60 million of those individuals going blind owing to aging, population growth, and urbanization.

The growing prevalence of the aged population with higher chances of blindness, and visual impairment is predicted to boost the ophthalmoscope market. The mental and physical health of people degrade with the passage of time. By the end of 2050, the global population aged 60 years and above will get doubled accounting to 2.1 Billion.


Ophthalmoscope Market
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Ophthalmoscope Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Awareness Regarding Ophthalmological Health– People are more likely to get routine eye exams as they become more aware of the need of maintaining good eye health, which can help them see the early signs of various eye problems. The need for ophthalmoscope tools would rise as a result.
  • Rising Cases of Blindness- As the number of blindness cases is increasing all across the globe, mainly in low- and middle-income countries. Thus, increasing the demand for ophthalmoscopes in the near future. As per the World Health Organization, more than 80 % of people with vision loss are founded in low and middle-income countries.
  • Development of Digital Technologies- The development of digital ophthalmoscopes increases the accuracy of eye examinations. These new technologies are user-friendly, and easy to use, as compared to the traditional technologies.

Challenges

  • Exorbitant Cost of Ophthalmoscope - The high cost is one of the major factors predicted to slow down the market growth. For instance, high-quality materials are used in the production of ophthalmoscopes which are expensive. This as a result can increase the overall cost of production.
  • Insufficient Knowledge of Ocular Diseases
  • Lack of Skilled Professionals

Ophthalmoscope Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~4%

Base Year Market Size (2022)

~ USD 244 Million

Forecast Year Market Size (2035)

~ USD 363 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ophthalmoscope Segmentation

Application (Glaucoma, Retinal Tear, Diabetes)

The diabetes segment is estimated to hold 45% share of the global ophthalmoscope market in the coming years owing to the increasing cases of diabetes-induced blindness around the world. Patients suffering from diabetes have affected retina which can lead to blindness. This as a result rises the demand for ophthalmoscopes as it helps in the on-time detection and diagnosis of the disease. As per recent reports, diabetic retinopathy is accountable for nearly 4.5 % of blindness cases across the globe. By 2030, there will be around 640 million diabetics worldwide, and by 2045, the figure is expected to rise to over 78o million.

End- Users (Hospitals, Eye Clinics)

Ophthalmoscope market from the hospital segment is set to garner a notable gain in the near future. The growth of the segment is driven by the rising usage of ophthalmoscopes. Owing to the growing awareness of eye-related diseases more and more people are visiting hospitals that offer ophthalmic services to seek timely diagnosis and help in the management of eye-related conditions. This, as a result, has increased the demand for ophthalmoscopes on the hospital premises.

Our in-depth analysis of the global market includes the following segments:

     By End-User

  • Hospitals
  • Eye Clinics

     By Application

  • Glaucoma
  • Retinal Tear
  • Diabetes

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Ophthalmoscope Industry- Regional Synopsis

North America Market Statistics

The ophthalmoscope market in North America is predicted to account for the largest share of 37 % by the end of 2035. The market growth in the region is impelled by growing health awareness. For instance, as people are becoming more aware of their health, they are also realizing the importance of eye cases and regular eye checkups in the region. This leads to an increased demand for ophthalmoscope as it helps in examining eye health.

Asian Pacific Market Forecast

The Asian Pacific ophthalmoscope market is estimated to grow at a significant market rate, during the forecast timeframe. The growth of the market can be led by the growing spending on healthcare. Owing to rising investment in healthcare advanced medical technologies are being developed in the region including ophthalmic diagnostic equipments. For instance, with health expenditures accounting for sizeable portions of the GDPs of the three nations, Japan, Australia, and New Zealand all rank among the top Asia-Pacific nations in terms of healthcare. According to estimates, Australia spent around USD 220 billion, on health in 2021.

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Ophthalmoscope Market  Size
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Companies Dominating the Ophthalmoscope Landscape

top-features-companies
    • Medline Industries, LP
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Eli Lilly and Company
    • Bausch & Lomb Incorporated
    • Sun Pharmaceutical Industries Ltd.
    • Novartis AG
    • Sanofi-aventis Groupe
    • Abbott Laboratories
    • Merck & Co., Inc.
    • Siemens Healthcare GmbH
    • Pfizer Inc.

In-the-news

In The News

  • Bausch & Lomb Incorporated introduced TotalVisc Viscoelastic System and the StableVisc cohesive ophthalmic viscosurgical device (OVD) with special benefits intended to guarantee the best surgical results for patients.  StableVisc aids in maintaining room in the anterior chamber of the eye, whereas TotalVisc Viscoelastic System, guards the ocular tissue during surgery.
  • Novartis AG acquired Kedalion Therapeutics and its AcuStream technology that might help with accurate dosage and administration of several topical ophthalmic drugs to the eye, and to meet unmet patient needs in front-of-eye disorders.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3999
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising cases of ocular diseases such as glaucoma, corneal opacification, and others are the major factors driving the market growth.

The market size of ophthalmoscope is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Eli Lilly and Company, Bausch & Lomb Incorporated, Sun Pharmaceutical Industries Ltd., Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Pfizer Inc, and others.

The diabetes segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ophthalmoscope Market Report Scope
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