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Ophthalmic Diagnostic Equipment Market

Segmentation by Product Type (Ultrasound, Fundus Camera, Topography & Aberrometer System, Optical Coherence & Corneal Tomography, Automated Perimeter, Tonometer, Refractors, Ophthalmoscope, and Others); and by End-User (Clinics, Hospitals, Diagnostic Laboratories, and Research Centers) – Global Demand Analysis & Opportunity Outlook 2031

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Report ID: 187 | Published On: Jun 16, 2022
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Global Ophthalmic Diagnostic Equipment Market Regional Synopsis

Regionally, the global ophthalmic diagnostic equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness remarkable growth over the forecast period on the back of the higher prevalence of eye diseases and advancements in the utilization of the PC and laptops. According to a report published by the Centers for Diseases Control and Prevention, it was stated that about 12 million people aged 40 or above suffer from vision impairment solely in the USA. Additionally, the rising inclination toward e-learning is also projected to boost the growth of the market in the region over the forecast period. Moreover, the growing geriatric population with multiple eye disorders in the region is also anticipated to hike the growth of the market over the forecast period. A report by the World Bank showed that, in 2020, the geriatric population of the United States was 55,131,698. Such factors are estimated to hike the growth of the market in the region during the forecast period.

Ophthalmic Diagnostic Equipment Market Share

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The global ophthalmic diagnostic equipment 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

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


Ophthalmic Diagnostic Equipment Market
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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.


Market Segmentation

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

By Product Type

  • Ultrasound
  • Fundus Camera
  • Topography & Aberrometer System
  • Optical Coherence & Corneal Tomography
  • Automated Perimeter
  • Tonometer
  • Refractors
  • Ophthalmoscope
  • Others

By End-User

  • Clinics
  • Hospitals
  • Diagnostic Laboratories
  • Research Centers


Growth Drivers
  • Higher Prevalence of Eye Disease Among the Global Population
  • Growing Inclination Toward E-Learning

Challenges

  • Requirement for the Higher Initial Investment


Healthcare Expenditure per Capita, (USD), 2015-2018
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Top Featured Companies Dominating the Market

    • Canon Inc.

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Haag-Streit Group
    • Bausch + Lomb Corporation
    • Carl Zeiss AG
    • Alcon Vision LLC
    • Johnson & Johnson Vision Care, Inc.
    • AMETEK, Inc.
    • Essilor International
    • NIDEK CO., LTD.
    • VISIONIX USA INC.

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the ophthalmic diagnostic equipment market?

Ans: Higher prevalence of eye disease among the global population and growing inclination toward e-learning are the major factors driving the growth of the ophthalmic diagnostic equipment market.

2) What would be the CAGR of ophthalmic diagnostic equipment market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 - 2031.

5) Who are the major players dominating the ophthalmic diagnostic equipment market?

Ans: The major players in the market are Canon Inc., Haag-Streit Group, Bausch + Lomb Corporation, Carl Zeiss AG, Alcon Vision LLC, Johnson & Johnson Vision Care, Inc., AMETEK, Inc., Essilor International, NIDEK CO., LTD., and VISIONIX USA INC.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the ophthalmic diagnostic equipment market?

Ans: The market is segmented by product type, end-user, and by region.

8) Which sub-segment captures the largest market size in the end-user segment in the ophthalmic diagnostic equipment market?

Ans: The hospital segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.

8) What are the challenges affecting the market growth?

Ans: The requirement for higher initial investment is estimated to hamper the market growth.

8) Which region will provide more business opportunities for the growth of the ophthalmic diagnostic equipment market in the future?

Ans: North America region will provide more business opportunities for the growth of the ophthalmic diagnostic equipment market in the future on the back of growing geriatric population with multiple eye disorders in the region.

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