USD 4.04 billion
Global Ophthalmic Ultrasound Devices Market Size, Share, Growth Analysis, By Product(A-Scan, B-Scan), By End user(Hospitals, Ambulatory Surgical Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2564 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
66 |
Figures:
75
Global Ophthalmic Ultrasound Devices Market Insights
Global Ophthalmic Ultrasound Devices Market size was valued at USD 4.04 billion in 2022 and is poised to grow from USD 4.36 billion in 2023 to USD 7.98 billion by 2031, growing at a CAGR of 7.85% in the forecast period (2024-2031).
The global ophthalmic ultrasound devices market is a rapidly evolving segment of the medical technology industry that plays a crucial role in diagnosing and managing various eye conditions. Ophthalmic ultrasound devices utilize sound waves to produce detailed images of the eye's internal structures, enabling ophthalmologists to visualize the anterior and posterior segments with precision. The market growth is driven by several key factors. Firstly, the rising incidence of eye disorders such as cataracts, glaucoma, and retinal diseases has heightened the demand for accurate and non-invasive diagnostic tools. Ophthalmic ultrasound devices offer valuable insights into ocular pathology, aiding in early detection and personalized treatment planning. Secondly, technological advancements have spurred device innovation, leading to more compact, portable, and high-resolution ultrasound systems. These innovations improve patient comfort and streamline the imaging process, enhancing overall diagnostic efficiency. Moreover, the aging global population contributes to market expansion, as elderly individuals are more susceptible to various eye conditions that necessitate regular screening and monitoring. Additionally, the growing awareness of eye health and the availability of advanced medical services further boost the adoption of ophthalmic ultrasound devices.
US Ophthalmic Ultrasound Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.85% CAGR
Global Ophthalmic Ultrasound Devices Market ($ Bn)
Country Share North America for Region (%)
Global Ophthalmic Ultrasound Devices Market By End user($ Bn)
Global Ophthalmic Ultrasound Devices Market By End user (%)
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Global Ophthalmic Ultrasound Devices Market Segmental Analysis
The global ophthalmic ultrasound devices market is segmented on the basis of Product, Mobility, End-user and region. By Product, the market is segmented into A-Scan, B-Scan, Combined, Pachymeter, Ultrasound Bio Microscope. By Mobility, the market is segmented into Standalone, Portable. By End-user, the market is segmented into Hospitals, Ambulatory Surgical Centers, Ophthalmic Clinics, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Ophthalmic Ultrasound Devices Market Analysis By Product
In the global ophthalmic ultrasound devices market, the B-Scan segment is often considered dominant. B-Scan ultrasound devices are commonly used for imaging the posterior segment of the eye, especially in cases where direct visualization is challenging. They provide valuable diagnostic information about conditions such as retinal detachments, vitreous opacities, and tumors. Due to their wide clinical applicability and the crucial insights they offer, B-Scan devices have maintained a prominent position in the market.
On the other hand, the Fastest Growing segment in this market could be the Ultrasound Biomicroscope (UBM) segment. UBM devices are becoming increasingly popular for imaging the anterior segment of the eye, including structures like the cornea, iris, and lens. UBM technology provides high-frequency, high-resolution images that aid in diagnosing conditions like angle-closure glaucoma, anterior segment tumors, and corneal abnormalities. As more ophthalmologists recognize the diagnostic benefits of UBM and its non-invasive nature, the demand for UBM devices is expected to exhibit notable growth in the coming years.
Ophthalmic Ultrasound Devices Market Analysis By End user
Among the segments in the global ophthalmic ultrasound devices market, hospitals are the dominant segment accounting for the largest share of market revenue. Hospitals have established infrastructure and a wide range of ophthalmic services, making them primary locations for diagnostics and treatment. The availability of skilled professionals and advanced equipment in hospitals contributes to their dominance in this market.
On the other hand, the fastest-growing segment is Ambulatory Surgical Centers (ASCs). ASCs offer the advantage of providing ophthalmic care in a more convenient and cost-effective outpatient setting. With advancements in medical technology, many ophthalmic procedures that once required hospitalization can now be performed in ASCs. This trend is driving the growth of ophthalmic ultrasound device adoption in ASCs, as they seek to provide efficient and specialized eye care services while minimizing patient inconvenience.
Global Ophthalmic Ultrasound Devices Market By End user, 2023 (%)
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Global Ophthalmic Ultrasound Devices Market Regional Insights
The global Ophthalmic Ultrasound Devices Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America, particularly the United States, has been a dominant region in the global ophthalmic ultrasound devices market. This can be attributed to factors like well-established healthcare infrastructure, high prevalence of eye diseases, and significant investments in advanced medical technologies. The presence of key market players, research institutions, and a growing aging population contributing to increased eye-related conditions has further propelled the adoption of ophthalmic ultrasound devices in this region.
As for the fastest growing segment, Asia-Pacific, including countries such as China, India, and Japan, has been one of the fastest-growing markets for ophthalmic ultrasound devices. The region's large population, increasing healthcare expenditure, and rising awareness about advanced medical diagnostics have contributed to the growth of this market. Additionally, the prevalence of conditions like cataracts and glaucoma in the aging population has driven the demand for innovative diagnostic tools. Government initiatives to improve healthcare infrastructure and accessibility have also played a role in the market's rapid expansion in this region.
Global Ophthalmic Ultrasound Devices Market By Geography, 2024-2031
- Largest
- Fastest
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Global Ophthalmic Ultrasound Devices Market Dynamics
Ophthalmic Ultrasound Devices Market Drivers
Growing Aging Population:
- The global ophthalmic ultrasound devices market is driven by the increasing aging population, particularly in developed countries. As people age, the risk of eye diseases such as cataracts, glaucoma, and macular degeneration rises. Ophthalmic ultrasound devices are crucial for diagnosing and monitoring these conditions, driving the demand for these devices.
Technological Advancements:
- Advances in ophthalmic ultrasound technology, including higher-resolution imaging and the development of portable and handheld devices, have expanded the capabilities and accessibility of these devices. These technological innovations improve diagnostic accuracy, enable early disease detection, and enhance patient care, thus boosting the adoption of ophthalmic ultrasound devices.
Ophthalmic Ultrasound Devices Market Restraints
High Cost:
- Ophthalmic ultrasound devices can be expensive to procure and maintain, limiting their adoption, especially in resource-constrained healthcare settings. The high cost of these devices can strain healthcare budgets, making it difficult for some facilities to invest in the latest technology.
Limited Awareness and Training:
- Proper utilization of ophthalmic ultrasound devices requires specialized training. Limited awareness among healthcare professionals and a shortage of skilled personnel in some regions can hinder the effective use of these devices, potentially impacting their adoption and accurate diagnosis.
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Global Ophthalmic Ultrasound Devices Market Competitive Landscape
The global ophthalmic ultrasound devices market features a competitive landscape characterized by several established medical device manufacturers and innovative companies striving to enhance ophthalmic diagnostics and treatment. Key players include Carl Zeiss Meditec AG, Nidek Co., Ltd., Halma plc (Optos plc), Ellex Medical Lasers Ltd., and Escalon Medical Corp. These companies offer a diverse range of ophthalmic ultrasound devices catering to different diagnostic needs, such as A-scan, B-scan, and UBM (ultrasound biomicroscopy). The market competition is driven by factors such as technological advancements, product innovation, and a focus on precision and image quality. Companies are investing in research and development to introduce cutting-edge ultrasound technologies that improve imaging accuracy and aid in various eye conditions' early detection and management. Additionally, strategic collaborations, mergers, and acquisitions are shaping the competitive landscape as companies aim to broaden their product portfolios and expand their global market presence.
Ophthalmic Ultrasound Devices Market Top Player’s Company Profile
- Carl Zeiss Meditec AG - Germany
- NIDEK Co., Ltd. - Japan
- Optos plc - United Kingdom
- Ellex Medical Lasers Ltd. - Australia
- Halma plc (Heidelberg Engineering GmbH) - Germany
- Escalon Medical Corp. (Sonomed Escalon) - United States
- MicroMedical Devices, Inc. (Micro Medical Devices) - United States
- Quantel Medical - France
- MEDA Co., Ltd. - South Korea
- Sonogage, Inc. - United States
- EyeKon Medical, Inc. - United States
- Echo-Son S.A. (ESG-400) - Poland
- MEDA Co., Ltd. - South Korea
- Meditek Systems Pvt. Ltd. - India
- MicroSurgical Technology (MST) - United States
- Optikon 2000 SpA - Italy
- Optosonics, Inc. - United States
- Optikon 2000 SpA - Italy
- MicroSurgical Technology (MST) - United States
- Insight Instruments, Inc. - United States
Ophthalmic Ultrasound Devices Market Recent Developments
- In January 2023, Optovue, Incorporated launched the Clarity 720+, a new handheld ophthalmic ultrasound device that offers high-resolution imaging of the anterior and posterior segments of the eye.
- In February 2023, Carl Zeiss Meditec acquired Eyebright, a developer of ophthalmic ultrasound technology. The acquisition is expected to strengthen Carl Zeiss Meditec's position in the ophthalmic ultrasound market.
- In March 2023, Topcon launched the Sonovue 700, a new portable ophthalmic ultrasound device that offers high-resolution imaging of the anterior and posterior segments of the eye.
- In April 2023, Heidelberg Engineering GmbH launched the Spectralis OCT System for Ophthalmic Imaging, a new optical coherence tomography (OCT) system that offers high-resolution imaging of the retina and other ocular structures.
- In May 2023, Johnson & Johnson Vision launched the AccuScan Ophthalmic Ultrasound System, a new handheld ophthalmic ultrasound device that offers high-resolution imaging of the anterior and posterior segments of the eye.
Global Ophthalmic Ultrasound Devices Key Market Trends
- Increasing Demand for Early Diagnostics and Monitoring: The ophthalmic ultrasound devices market has seen a growing demand for early diagnostic tools that can aid in the detection and monitoring of various eye conditions, such as glaucoma and retinal diseases. Ophthalmic ultrasound devices provide non-invasive imaging of ocular structures, enabling clinicians to visualize and assess changes in the eye's anatomy and pathology. With an aging population and an increasing prevalence of eye diseases, the need for accurate and timely diagnosis has driven the adoption of these devices.
- Technological Advancements: The ophthalmic ultrasound devices market has been influenced by continuous technological advancements that enhance imaging capabilities and diagnostic accuracy. Innovations such as high-frequency ultrasound probes, real-time imaging, and improved resolution have allowed for more precise visualization of ocular structures. Additionally, the integration of ultrasound with other imaging modalities, such as optical coherence tomography (OCT), has led to comprehensive diagnostic solutions. These advancements have attracted both ophthalmologists and patients seeking more accurate diagnoses and treatment plans.
Global Ophthalmic Ultrasound Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global ophthalmic ultrasound devices market analysis, the market has exhibited steady growth due to their essential role in diagnosing and managing various eye conditions. Ophthalmic ultrasound devices utilize high-frequency sound waves to produce detailed images of the eye's interior, enabling accurate assessments of structures not easily visible through traditional methods. These devices are vital for diagnosing retinal detachments, intraocular tumors, and other disorders affecting the vitreous and posterior segment. The market's growth is propelled by factors such as an aging population, increasing prevalence of eye diseases like glaucoma and macular degeneration, and advancements in imaging technologies. Additionally, the adoption of minimally invasive procedures and the potential of ultrasound devices to aid in treatment planning and monitoring contribute to the market's expansion. However, the market may face challenges like high costs associated with advanced ultrasound technologies and the need for skilled professionals to interpret the results. As technological innovations continue, including portable and more user-friendly devices, the ophthalmic ultrasound devices market is expected to maintain its growth trajectory from 2021 to 2030. As eye care remains a priority, these devices will likely play a pivotal role in enhancing diagnostic accuracy and patient outcomes in ophthalmology.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.04 billion |
| Market size value in 2031 | USD 7.98 billion |
| Growth Rate | 7.85% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Ophthalmic Ultrasound Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Ophthalmic Ultrasound Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Ophthalmic Ultrasound Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ophthalmic Ultrasound Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Ophthalmic Ultrasound Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Ophthalmic Ultrasound Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Ophthalmic Ultrasound Devices Market Report Snapshots
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