Ophthalmoscopes are medical devices used for examining the interior of the eye including the retina, optic disc and posterior structures of the eye. They are essential for screening and diagnosis of ocular diseases and disorders. Increase in incidence of degenerative eye disorders such as age-related macular degeneration and diabetic retinopathy have fueled the demand for ophthalmoscopes for timely diagnosis and treatment initiation.
The global Ophthalmoscopes Market is estimated to be valued at US$ 246.4 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The global ophthalmoscopes market is primarily driven by increasing prevalence of degenerative eye disorders such as age-related macular degeneration and diabetic retinopathy. According to National Eye Institute, around 11 million Americans are affected by age-related macular degeneration. Furthermore, diabetic retinopathy is reported to affect around 35% of people with diabetes over the age of 40 years. Timely diagnosis is crucial for delaying progression and vision loss from such disorders. Ophthalmoscopes play a vital role in screening and detection ofeye disorders. Technological advancements in ophthalmoscopes allowing features such as LED illumination, magnified views, imaging capabilities, and portability are enhancing their adoption rate globally.
SWOT Analysis
Strength: Ophthalmoscopes allow eye examination with minimal equipment and provide portability which is ideal for point-of-care examinations. They are affordable, easy to use and help detect various eye diseases.
Weakness: Indirect ophthalmoscopes require some skill to use and experience to properly visualize anatomical structures. Image quality can be impacted in certain clinical settings.
Opportunity: Rising prevalence of eye diseases worldwide offers scope for wider adoption of ophthalmoscopes. There is also potential for incorporating newer features like digital cameras for documentation.
Threats: Alternative technologies like fundus cameras provide higher resolution imaging but require more space and budget. Growing tele-ophthalmology may reduce need for physical examinations in some settings.
Key Takeaways
The global ophthalmoscopes market is expected to witness high growth over the forecast period supported by increasing eye care needs.
Regional analysis
North America currently dominates the market owing to rising healthcare spending and availability of advanced products. Asia Pacific is expected to grow at the fastest pace due to large patient pool and improving access to eye care in developing countries.
Key players
Key players operating in the ophthalmoscopes market are Custom Ultrasonics, Inc., EndoMed Systems GmbH., Fujifilm Holdings Corporation, PENTAX Medical Company, Ambu A/S, Medline Industries, Inc., Heine USA Ltd., US Ophthalmic, Welch Allyn, Hill-Rom Holdings Inc (Hillrom), Dino-Lite Europe, HONSUN Group, Rudolf Riester GmbH, IRIDEX Corporation, Zumax Medical Co., Ltd., Oscar Boscarol S.r.l., Suzhou Kangjie Medical Inc., NIDEK Inc., and KIRCHNER & WILHELM GmbH Co. KG. These players are focusing on new product launches and geographic expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
