Ophthalmoscopes Market is Expected to Grow at a CAGR of 4.6% and Projected to Reach US$ 322.13 Million by 2027
The Ophthalmoscopes Market report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies.
NEW YORK, UNITED STATES, January 24, 2023 /EINPresswire.com/ -- The ophthalmoscopes market was valued at US$ 216.79 million in 2018 and it is projected to reach US$ 322.13 million in 2027; it is expected to grow at a CAGR of 4.6% from 2019 to 2027.
The global ophthalmoscopes market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth.
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The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Global ophthalmoscopes market, based on type, application, and end user. The market based on the type segment is classified as direct ophthalmoscopes and indirect ophthalmoscopes. Based on the application, the market is classified as glaucoma, diabetes eye diseases, retinal diseases and others. Similarly, on the basis of the end user the market is classified is hospitals, eye clinics and ambulatory surgical clinics. Based on the application, glaucoma is the largest contributor for the growth of the ophthalmoscopes market. Likewise, the direct ophthalmoscopes is the largest contributor by type for the market.
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Top Companies Synopsis
Carl Zeiss Meditec AG
Heine Optotechnik GmBH & Co.KG
American Diagnostic Corporation
Guangzhou Bisen Medical Co., Limited
Type -Based Insights
In terms of type, the global ophthalmoscopes market is segmented into indirect ophthalmoscopes and direct ophthalmoscopes. In 2018, the direct ophthalmoscopes segment held largest share of the market. However, the indirect ophthalmoscopes segment is estimated to register the highest CAGR during the forecast period.
Based on application, the global ophthalmoscopes market is segmented into glaucoma, diabetes eye diseases, retinal diseases and others. The glaucoma segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
End User-Based Insights
In terms of end user, the global ophthalmoscopes market is segmented into hospitals, eye clinics and ambulatory clinics. The hospitals segment held the largest share of the market in 2018. However, the eye clinics segment is estimated to grow at the highest CAGR during the forecast period.
The market for ophthalmoscopes is expected to grow significantly due to factor as rising prevalence of eye diseases in developing and developed nations, significantly growing elderly population and increasing prevalence of glaucoma in individuals are likely to drive the growth of the market in the forecasted period. However, the challenges associated with retinal examination may show some impact to the growth of the market.
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