The global ophthalmic ultrasound devices market size is anticipated to register a significant CAGR of around 8% during the forecast period 2021 to 2027. The increasing incidence of eye-related disorders such as cataracts, diabetic retinopathy, and others is a primary factor driving the market growth. According to World Health Organization (WHO), 1 billion people are affected by some type of vision impairment or blindness due to various eye diseases, with refractive error, cataracts, and glaucoma being the major part. Furthermore, the changing lifestyle, growing aging population, and rising prevalence of diabetes are further anticipated to fuel the market growth over the forecast period.
Market Drivers:
Increasing Prevalence of Eye Disorders: The rising prevalence of eye disorders, such as cataracts, glaucoma, macular degeneration, and retinal detachment, is a significant driving factor for the ophthalmic ultrasound devices market. Ultrasound devices are used for diagnostic imaging and evaluation of these eye conditions, aiding in accurate diagnosis and treatment planning.
Growing Aging Population: The global population is aging rapidly, leading to an increased incidence of age-related eye diseases. As the elderly population continues to grow, the demand for ophthalmic ultrasound devices is expected to rise. Ultrasound technology helps in the early detection and management of age-related eye disorders, contributing to improved patient outcomes.
Advancements in Ultrasound Technology: Technological advancements in ophthalmic ultrasound devices have enhanced their imaging capabilities and diagnostic accuracy. The development of high-resolution ultrasound systems, along with features like real-time imaging and 3D/4D visualization, has improved the efficiency and reliability of ophthalmic diagnostics, driving the market growth.
Increasing Awareness and Screening Programs: The growing awareness about the importance of regular eye examinations and early detection of eye disorders has resulted in increased screening programs. Ophthalmic ultrasound devices play a vital role in these screening programs by providing non-invasive and comprehensive evaluation of ocular structures, leading to early diagnosis and appropriate management.
Surge in Ophthalmic Surgeries: Ophthalmic ultrasound devices are essential tools in various ophthalmic surgeries, including cataract surgery, vitrectomy, and corneal transplantation. The increasing number of ophthalmic surgical procedures worldwide is driving the demand for ultrasound devices in the ophthalmic field.
Technological Integration with Other Imaging Modalities: Ophthalmic ultrasound devices are often integrated with other imaging modalities, such as optical coherence tomography (OCT) and fundus photography, to provide comprehensive diagnostic capabilities. This integration allows for a more detailed evaluation of ocular structures and aids in precise diagnosis and treatment planning, contributing to market growth.
Favorable Reimbursement Policies: The availability of favorable reimbursement policies for ophthalmic ultrasound procedures and devices in certain regions stimulates the market growth. Reimbursement support encourages healthcare providers to adopt and utilize ophthalmic ultrasound devices, leading to increased market demand.
Emerging Markets and Healthcare Infrastructure Development: Emerging markets, particularly in Asia-Pacific and Latin America, are witnessing significant growth in healthcare infrastructure and access to advanced medical technologies. The increasing investment in healthcare facilities and the rising demand for ophthalmic services in these regions are driving the market for ophthalmic ultrasound devices.
Market Snapshot:
| Benchmark Year | 2022 | ||
| Market Size | lock | ||
| Market Growth (CAGR) | ~ 8% (2023-2030) | ||
| Largest Market Share | North America | ||
| Analysis Period | 2020-2030 | ||
| Market Players | Appasamy Associates, DGH Technology, Ellex, Quantel Medical, and Optos Plc |
Market Insights:
The global ophthalmic ultrasound devices market is bifurcated into product, modality, end-user, and geography. On the basis of product, the market is further segmented into A-scan, B-scan, Combined Scan, and others. The A-scan segment dominated the global market in 2020 and accounted to hold the largest market share of around one-third percent of the market by the end of the analysis period. The wide use of the product in various cases such as vitreous hemorrhage, peri-orbital trauma, or lens opacification is one of the major factor to drive the segment growth. Furthermore, the increasing demand for the product in cataract surgeries is further anticipated to fuel the segment growth.
On the basis of end-user, the market is segmented into hospitals, ophthalmology clinics, and others. The hospitals segment dominated the global ophthalmic ultrasound devices market in 2020 and estimated to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The availability of efficient reimbursement policies and favorable government initiatives are some of the major factors to drive the segment growth. Furthermore, the rising awareness among consumers, technological advancement, and increasing government programs is further anticipated to fuel the segment growth over the forecast period.
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The ophthalmic ultrasound devices comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The ophthalmic ultrasound devices market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2018-19 – Historical Year
- 2020 – Base Year
- 2021-2027 – Forecast Period
Market Segmentation:
By Product:
- A-Scan
- B-Scan
- Combined Scan
- Pachymeter
- Ultrasound Bio-microscopy (UBM)
By Modality:
- Portable
- Standalone
By End-User:
- Hospitals
- Ophthalmology Clinics
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Geographic Coverage
Geographically, North America dominated the global ophthalmic ultrasound devices market in 2020 and accounted to hold the largest revenue share of over one-third of the market by the end of the analysis period. Technological advancement, high awareness, and the growing geriatric population are some of the major factors to drive the market growth in the region. Furthermore, the rising prevalence of eye-related disorders and high disposable income per capita are expected to boost the market in North America. According to the information shared by CDC (Centers for Disease Control and Prevention), around 45 million people wear contact lenses in the United States.
Competitive Assessment
Some of the major market players operating in the global ophthalmic ultrasound devices market are Appasamy Associates, DGH Technology, Ellex, Quantel Medical, and Optos Plc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. In March 2019, Quantal Medical received FDA approval for the launch of its product called ABSolu. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- Appasamy Associates
- DGH Technology
- Ellex
- Quantel Medical
- Optos Plc
- Halma plc
- NIDEK CO. Ltd.
- Escalon Medical Corp
- MicroMedical Devices
- Carl Zeiss Meditech
Key Questions Answered by Ophthalmic Ultrasound Devices Market Report
- Global ophthalmic ultrasound devices market forecasts from 2021-2027
- Regional ophthalmic ultrasound devices market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
- Ophthalmic ultrasound devices submarket forecasts from 2021-2027 covering the market by product, by modality, by end-use, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about ophthalmic ultrasound devices market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level ophthalmic ultrasound devices markets from 2021-2027
- Competitive Landscape and market positioning of top 10 players operating in the ophthalmic ultrasound devices market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Ophthalmic Ultrasound Devices Market Portraiture
2.2. Global Ophthalmic Ultrasound Devices Market, by Product, 2020 (USD Mn)
2.3. Global Ophthalmic Ultrasound Devices Market, by Modality, 2020 (USD Mn)
2.4. Global Ophthalmic Ultrasound Devices Market, by End-User, 2020 (USD Mn)
2.5. Global Ophthalmic Ultrasound Devices Market, by Geography, 2020 (USD Mn)
3. Global Ophthalmic Ultrasound Devices Market Analysis
3.1. Ophthalmic Ultrasound Devices Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Ophthalmic Ultrasound Devices Market By Product, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. A-Scan
4.3. B-Scan
4.4. Combined Scan
4.5. Pachymeter
4.6. Ultrasound Bio-microscopy (UBM)
5. Global Ophthalmic Ultrasound Devices Market By Modality, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Portable
5.3. Standalone
6. Global Ophthalmic Ultrasound Devices Market By End-User, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. Hospitals
6.3. Ophthalmology Clinics
6.4. Others
7. North America Ophthalmic Ultrasound Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
7.1.1. Overview
7.1.2. North America Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
7.1.3. North America Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
7.1.4. North America Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
7.1.5. North America Ophthalmic Ultrasound Devices Market by Country (2018-2027 USD Mn)
7.1.5.1. U.S.
7.1.5.1.1. U.S. Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
7.1.5.1.2. U.S. Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
7.1.5.1.3. U.S. Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
7.1.5.2. Canada
7.1.5.2.1. Canada Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
7.1.5.2.2. Canada Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
7.1.5.2.3. Canada Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8. Europe Ophthalmic Ultrasound Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
8.1.1. Overview
8.1.2. Europe Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.3. Europe Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.4. Europe Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8.1.5. Europe Ophthalmic Ultrasound Devices Market by Country (2018-2027 USD Mn)
8.1.5.1. Germany
8.1.5.1.1. Germany Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.5.1.2. Germany Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.5.1.3. Germany Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8.1.5.2. U.K.
8.1.5.2.1. U.K. Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.5.2.2. U.K. Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.5.2.3. U.K. Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8.1.5.3. France
8.1.5.3.1. France Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.5.3.2. France Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.5.3.3. France Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8.1.5.4. Italy
8.1.5.4.1. Italy Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.5.4.2. Italy Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.5.4.3. Italy Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
8.1.5.5. Rest of Europe
8.1.5.5.1. Rest of Europe Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
8.1.5.5.2. Rest of Europe Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
8.1.5.5.3. Rest of Europe Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
9. Asia Pacific Ophthalmic Ultrasound Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
9.1.1. Overview
9.1.2. Asia Pacific Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
9.1.3. Asia Pacific Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
9.1.4. Asia Pacific Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
9.1.5. Asia Pacific Ophthalmic Ultrasound Devices Market by Country (2018-2027 USD Mn)
9.1.5.1. China
9.1.5.1.1. China Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
9.1.5.1.2. China Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
9.1.5.1.3. China Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
9.1.5.2. Japan
9.1.5.2.1. Japan Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
9.1.5.2.2. Japan Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
9.1.5.2.3. Japan Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
9.1.5.3. Rest of Asia Pacific
9.1.5.3.1. Rest of Asia Pacific Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
9.1.5.3.2. Rest of Asia Pacific Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
9.1.5.3.3. Rest of Asia Pacific Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
10. Latin America (LATAM) Ophthalmic Ultrasound Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
10.1.1. Overview
10.1.2. Latin America Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
10.1.3. Latin America Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
10.1.4. Latin America Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
10.1.5. Latin America Ophthalmic Ultrasound Devices Market by Country (2018-2027 USD Mn)
10.1.5.1. Brazil
10.1.5.1.1. Brazil Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
10.1.5.1.2. Brazil Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
10.1.5.1.3. Brazil Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
10.1.5.2. Mexico
10.1.5.2.1. Mexico Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
10.1.5.2.2. Mexico Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
10.1.5.2.3. Mexico Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
10.1.5.3. Rest of Latin America
10.1.5.3.1. Rest of Latin America Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
10.1.5.3.2. Rest of Latin America Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
10.1.5.3.3. Rest of Latin America Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
11. Middle East and Africa Ophthalmic Ultrasound Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
11.1.1. Overview
11.1.2. MEA Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
11.1.3. MEA Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
11.1.4. MEA Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
11.1.5. Middle East and Africa Ophthalmic Ultrasound Devices Market, by Country (2018-2027 USD Mn)
11.1.5.1. GCC
11.1.5.1.1. GCC Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
11.1.5.1.2. GCC Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
11.1.5.1.3. GCC Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
11.1.5.2. South Africa
11.1.5.2.1. South Africa Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
11.1.5.2.2. South Africa Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
11.1.5.2.3. South Africa Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
11.1.5.3. Rest of MEA
11.1.5.3.1. Rest of MEA Ophthalmic Ultrasound Devices Market by Product (2018-2027 USD Mn)
11.1.5.3.2. Rest of MEA Ophthalmic Ultrasound Devices Market by Modality (2018-2027 USD Mn)
11.1.5.3.3. Rest of MEA Ophthalmic Ultrasound Devices Market by End-User (2018-2027 USD Mn)
12. Company Profiles
12.1. Appasamy Associates
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. DGH Technology
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. Ellex
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Quantel Medical
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Optos Plc
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Halma plc
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. NIDEK CO. Ltd.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Escalon Medical Corp
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. MicroMedical Devices
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Carl Zeiss Meditech
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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