The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s diagnostic and monitoring ophthalmic devices and equipment market report forecasts the diagnostic and monitoring ophthalmic devices and equipment market size to grow to $3.6 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Size Forecast

The global diagnostic and monitoring ophthalmic devices and equipment market is expected to grow from $2.5 billion in 2022 to $2.72 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diagnostic and monitoring ophthalmic devices and equipment market size is expected to grow from $3.6 billion in 2027 at a CAGR of 7.3%.

North America held the largest diagnostic and monitoring ophthalmic devices and equipment market share.

Key Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Driver ­– Increase In The Prevalence Of Eye Diseases

According to a study, 4 out of 10 people have been found to have cataract disease in their early stages of life. The absolute number of cataract blind in 2020 would be 8.25 million, due to a substantial increase in the population above 50 years in India.

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Key Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Trend – Advancing Eye Care Medical Devices Equipped With AI And ML

Advanced eye care medical devices equipped with artificial intelligence (AI) and machine learning (ML) are the new trends in the ophthalmic diagnostic and monitoring equipment market. AI and ML-equipped medical devices can not only quickly interpret the eyes of the patient with better accuracy but also recommend a suitable treatment for the patient. Deepmind, a subsidiary of Alphabet Inc. has developed an AI-based system that is capable of analyzing 3D retinal OCT scans for detecting severe diseases like glaucoma, retinopathy, macular degeneration, and 50 different types of eye diseases at their early stage.

Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Segment

1) By Product Type: Optical coherence tomographers, Ophthalmic ultrasound imaging systems, Fundus cameras, Ophthalmoscopes, Keratometers, Specular microscopes., Tonometers, Slit Lamps, Retinoscopes, Others(Dioptometers, Optotype projector, Perimeters, and Biometers, Pachymeters, Autorefractors/phoropters, Corneal topographers, Wavefront aberrometer, Wavefront aberrometer)

2) By End Users: Hospitals, Clinics, Diagnostic Laboratories, Research Centers

3) By Application: Retinal evaluation, Glaucoma detection and monitoring, Surgical evaluation, General examine, Intraoperative devices, Refraction equipment

Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Major Players and Strategies

Major players in the diagnostic and monitoring ophthalmic devices and equipment market are Carl Zeiss Meditec, Alcon, Bausch + Lomb, Haag-Streit, Topcon Corporation, Nidek Co. Ltd., Abbott Medical Optics, Johnson and Johnson Vision Care, Essilor International S.A, and Ziemer Ophthalmic Systems AG.

In July 2020, Topcon, a company manufacturing optical equipment based in Japan acquired Elektron Eye Technology for an undisclosed amount. This acquisition includes the products of the Henson line of perimetry such as Henson 9000 and 7000 that perform suprathreshold glaucoma screening and the product manufacturing will remain in the UK. Elektron Eye Technology is a company operating in the diagnostic and monitoring of ophthalmic devices based in the UK.

The Diagnostic And Monitoring Ophthalmic Devices And Equipment Global Market Report 2023 covers regional data on diagnostic and monitoring ophthalmic devices and equipment market size, diagnostic and monitoring ophthalmic devices and equipment market trends and drivers, opportunities, strategies, and diagnostic and monitoring ophthalmic devices and equipment market competitor analysis. The countries covered in the diagnostic and monitoring ophthalmic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Diagnostic and monitoring ophthalmic devices and equipment are used for the diagnosis and monitoring of diseases related to the retina and cornea by measuring affix lenses and refractive errors. These devices also help identify the intraocular lenses (IOLs) and analyze the visual field.

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