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HEALTHCARE & PHARMACEUTICAL

Direct Ophthalmoscope Market Segmentation by Application (Glaucoma, Retinal Tear, Diabetes, and Others); and by End User (Hospitals, Eye Clinics, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • July, 2021: Bausch & Lomb Incorporated, announced the launch of hydration boost lubricant eye drops and micellar eyelid cleansing wipes, under the brand name BioTrue.

  • October, 2020: Novartis AG to acquire Vedere Bio, in order to expand its portfolio to ophthalmology and opto-genetic gene therapy technology for treating blindness.

Global Direct Ophthalmoscope Market Highlights over 2022 – 2031

The global direct ophthalmoscope market is estimated to grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Ophthalmoscopes are used to examine the interior of the eye, including the rear area of the eye and structure of the retina. The growth of the market can be attributed to the increasing prevalence of eye-related diseases, including glaucoma, Retinitis Pigmentosa, Age-Related Macular Degeneration, Diabetic Retinopathy, and others. . According to the data by the World Health Organization (WHO), more than 4.2 million people lose vision due to corneal opacities every year, while glaucoma is the second leading cause of blindness worldwide. Meanwhile, 2.2 billion people suffer from partial or complete blindness globally. The growing awareness regarding optical diseases, and penetration of healthcare services in remote areas worldwide are some of the major factors anticipated to drive the market growth. Furthermore, the growing healthcare spending, and adoption of advanced medical equipment are estimated to boost the market growth.

Direct Ophthalmoscope Market

The market is segmented by application into glaucoma, retinal tear, diabetes, and others, out of which, the diabetes segment is anticipated to hold a substantial share in the global direct ophthalmoscope market over the forecast period on account of high prevalence of diabetes globally, and high risk of diabetes-induced blindness. According to the WHO data, diabetic retinopathy caused partial blindness in 3.9 million people, as of 2020, worldwide. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita, (USD), 2015-2018

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Direct Ophthalmoscope Market Regional Synopsis

On the basis of geographical analysis, the global direct ophthalmoscope market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of large geriatric population in countries, such as India and China. According to the data by the World Bank, the population above 65 years of age in India crossed 90,719,952 in 2020, while, it crossed 167,808,567 in China.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing prevalence of ophthalmological disorders across the region. As per the data by the Center for Disease Control and Prevention (CDC), 3 million individuals in the U.S. have glaucoma.

Direct Ophthalmoscope Market Share

The global direct ophthalmoscope market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • iddle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

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

By Application

  • Glaucoma
  • Retinal Tear
  • Diabetes
  • Others

By End-User

  • Hospitals
  • Eye Clinics
  • Others

Growth Drivers

  • Increasing Prevalence of Ocular Diseases
  • Growing Adoption of Advanced Medical Equipment

Challenges

  • Lack of Awareness about Ocular Diseases
  • High Cost of Direct Ophthalmoscope

Top Featured Companies Dominating the Market

  • 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.

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