Ophthalmology Diagnostics Market - By Product (Optical Coherence Tomography Scanner, Specular Microscopes, Wavefront Aberrometers, Optical Biometry Systems, Corneal Topography Systems), Application, End-use & Forecast, 2023 – 2032

Ophthalmology Diagnostics Market Size

Ophthalmology Diagnostics Market size was valued at around USD 8.7 billion in 2022 and is projected to grow at 4.4% CAGR from 2023 to 2032 driven by increasing prevalence of ophthalmic diseases.
 

The benefits associated with eye diagnosis such as reliability in disease screening and reduced severity of disease with a better diagnosis & management are also forecasted to positively impact the industry progress. The ophthalmology diagnostic products are proved to be an ideal instrument to perform eye diagnosis. These diagnostic tests can be employed in diagnostic and treatment decisions for patients in hospital settings comprising prescribing medications in related treatment therapy. Ongoing advancements have favored the evolution of these diagnostic tests that are associated with offering optimum specificity & sensitivity.
 

This availability of unique and non-invasive diagnostic procedures are allowing ease and accuracy in early diagnosis and control of vision impairment. Reduced time minimized the risk of other infections during testing, and less pain & discomfort will further stimulate the adoption of the product. As World Health Organization (WHO) recognizes eye disease conditions to be of primary importance, various government and non-government bodies are coming forth with awareness programs.

COVID-19 Impact

The recent outbreak of COVID-19 had a negative impact on the ophthalmology diagnostics industry revenue in 2020. The increased demand for COVID-19 treatment had impacted the adoption of ophthalmology diagnostic products and the demand for ophthalmic procedures. 2020 saw the highest incidence and death rates from coronavirus, with people preferring to avoid other treatments in health facilities. The U.S. declared a national emergency and a ban on all elective surgical procedures in outpatient and inpatient settings. The ophthalmologists were at high risk of infection as close contact, droplets, and aerosols during face-to-face clinical examination might facilitate the spread of the SARS-CoV-2 virus.
 

As a result, the American Academy of Ophthalmology (AAO), the Centers for Disease Control and Prevention (CDC), and the American Society of Retina Specialists among others published clinical recommendations and guidelines for ophthalmology practices. The adoption of these guidelines and fear among patients along with other factors limited the ophthalmology practice during the COVID-19 pandemic. A similar trend was observed in different nations ophthalmology practices, with the majority of ophthalmologists reporting low patient inflow during the lockdown.
 

Ophthalmology Diagnostics Market Trends

Significant increase in number of patients suffering from ophthalmic diseases such as cataracts, glucoma, vitreoretinal diseases, and refractive errors among others will primarily drive the market growth over the forecast period. According to the World Health Organization latest data, around 1 billion people are suffering from moderate or severe distance vision impairment or blindness attributable to cataract (94 million), refractive error (88.4 million), age-related macular degeneration (8 million), glaucoma (7.7 million), and diabetic retinopathy (3.9 million) among others.
 

Increasing prevalence of such ailments fuel the demand for ophthalmic devices including ophthalmology diagnostic products. Raising geriatric population suffering from various eye diseases will also significantly drive the market trends. The use of advanced ophthalmology diagnostic product helps to offer efficient diagnosis & treatment, thereby reducing the risk of vision impairment. This rising diseased population is resulting in high adoption of advanced ophthalmology diagnostic devices including fundus cameras, Keratometers, and lensometers among others to enable a doctor to examine the patient eye more effectively with highest precision.
 

Ophthalmology Diagnostics Market Analysis

The optical coherence tomography scanner segment held the majority of the ophthalmology diagnostics market share in 2022 and was valued at over USD 1.4 billion. This is attributable to the increasing adoption of optical coherence tomography scanner that delivers noninvasive imaging method and uses reflected light to diagnose & manage disorders including glaucoma, diabetes-related retinopathy, etc. These diagnostic products are observed as highly-efficient devices for performing high-resolution cross-sectional imaging. Optical coherence tomography (OCT) scanners are attaining popularity in evaluating optic nerve disorders and different retinal conditions accurately.
 

The availability of novel OCT devices is providing ease and accuracy in early diagnosis and management of eye ailments that have stimulated the industry revenue. These precise diagnostic procedures are assisting physicians in the decision-making of disease treatment. The recent technological advancements in OCT technology have improved its ability to examine for ophthalmic disorders, contributing to earlier interventions and preservation of vision. Optical coherence tomography imaging along with artificial intelligence is providing multiple benefits in expanding patient screening and facilitating clinical decision-making.
 

Based on application, the ophthalmology diagnostics market is segmented as cataracts, glucoma, vitreoretinal diseases, refractive errors, surgical assessment, and others. The cataract segment is projected to reach more than USD 6.3 billion by the end of 2032. This owing to the growing prevalence of cataract in an older population and associated blindness & vision impairment. According to the World Health Organizations latest report, cataracts are the major global causes of vision loss and blindness, impacting 94 million people worldwide.
 

Additionally, the proportion of vision impairment due to cataract is higher in low- & middle-income countries and is expected to affect more individuals in the coming years. Thus, efforts to reduce these ailments social and economic burden have become a major global public health priority. This rising prevalence of cataract is anticipated to play anchoring role in surging the demand for ophthalmology diagnostic services for precise disease management.
 

Based on end-use, the ophthalmology diagnostics market is segmented as hospitals, ophthalmic clinics, ambulatory surgical centers, and others.  The hospitals is likely to cross more than USD 6.2 billion by 2032. The soaring use of novel ophthalmology diagnostic devices in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of diagnostic tests for the eye with proven accuracy is set to drive product preference in hospitals. Growing admissions with eye ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment expansion positively.
 

North America ophthalmology diagnostics market is anticipated to reach USD 5.6 billion by 2032. This is driven by several factors such as the presence of major industry players, an upsurge in the demand for eye disease diagnostic services, rise in the prevalence of vision problems, and growing number of hospital admissions across the country among others. As per the Centers for Disease Control and Prevention(CDC) latest data, around 20 million individuals in the U.S. over 40 years have a cataract in at least one eye and it is expected to reach over 30 million by 2028.
 

Additionally, glaucoma, a second leading cause of blindness is affecting around 3 million individuals in the U.S. These adverse events are anticipated to upsurge the adoption rate of eye diagnostic testing for better disease management. This is further driving the entry of new players in the market that are projected to increase over the forecast timeframe.
 

Ophthalmology Diagnostics Market Share

Some of the market players operating in the ophthalmology diagnostics market are 

• Alcon Vision LLC
• Bausch & Lomb Incorporated
• Canon
• Carl Zeiss Meditec AG
• Essilor International S.A

Several strategic initiatives such as novel product launches, strategic collaborations, and geographic expansion to gain competitive advantages are being undertaken. These prominent market players are adopting various organic as well as inorganic growth strategies to obtain competitive advantage and strengthen their market position.
 

Ophthalmology Diagnostics Industry News:

• In July 2021, Topcon Healthcare acquired VISIA Imaging S.r.l, a company engaged in the manufacturing of ophthalmic devices. This strategic move improvised Topcon’s manufacturing and development capabilities associated with anterior segment devices that include optical coherence tomography scanners. This acquisition is further expected to bolster Topcon’s position in the ophthalmic device industry.
   
• In April 2021, Nidek announced the U.S. FDA 510(k) approval for its NM-1000 Digital Non-Mydriatic Fundus Camera used in imaging the retina and the anterior eye segment. The camera offers high-resolution images by integrating a digital progressive-scan CCD camera and the color LCD display panel enables ease of operability. This strategic move assisted the company in bolstering its product portfolio and will offer competitive edge.
   

Ophthalmology diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) from 2018 to 2032 for the following segments:

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By Product, 2018 - 2032 (USD Million)

• Autorefractor
• Biometer
• Corneal Topography Systems
• Fundus Cameras
• Keratometers
• Lensometers
• Ophthalmic Ultrasound Imaging Systems
• Ophthalmoscopes
• Optical Biometry Systems
• Optical coherence tomography scanner
• Pachymeter
• Perimeters/Visual Field Analyzers
• Phoropters
• Retinoscopes
• Slit Lamps
• Specular Microscopes
• Tonometer 
• Wavefront Aberrometers
• Others

By Application, 2018 - 2032 (USD Million)

• Cataracts
• Glucoma
• Vitreoretinal Diseases 
• Refractive Errors
• Surgical Assessment
• Others

By End-use, 2018 - 2032 (USD Million)

• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Indonesia
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Turkey
  • Iran