Ophthalmoscopes are medical devices used to examine the interior parts of the eye, such as the retina, optic disc, blood vessels, and lens. Portable ophthalmoscopes provide non-contact examinations in both primary and specialty clinical settings. They enable quick diagnosis of common eye conditions like glaucoma, retinal detachment, and diabetic retinopathy. The growing geriatric population and increasing prevalence of eye diseases are key factors driving the demand for ophthalmoscopes. 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:
One of the key trends fueling the ophthalmoscopes market growth is the rising prevalence of eye diseases. The increasing incidence of age-related macular degeneration, cataract, glaucoma, and diabetic retinopathy is boosting the demand for ophthalmoscopes to examine the interior structures of the eye. For instance, according to the Glaucoma Research Foundation data, over 3 million Americans aged 40 and older are affected by glaucoma currently and this number is expected to reach around 4.3 million by 2030. Similarly, the World Health Organization (WHO) estimates the global diabetic population to grow from 425 million in 2017 to 629 million by 2045. Early diagnosis of these conditions requires regular eye screening using ophthalmoscopes. Technological advancements are also leading to product innovations such as wireless ophthalmoscopes and smartphone-based attachments, expanding the potential patient pool.
Segment Analysis
The Ophthalmoscope market is segmented based on product type, end use, and geography. Based on product type, the market is categorized into direct ophthalmoscopes, indirect ophthalmoscopes, and other ophthalmoscopes. Indirect ophthalmoscopes is expected to be the largest and fastest growing market segment. Its ability to provide a larger field of view of the retina compared to direct ophthalmoscopes has made it the most commonly used type. Based on end use, the market is segmented into hospitals, eye clinics, and other end uses. Hospitals are expected to be the dominant and fastest growing end use segment during the forecast period due to large patient pool and advanced eye care facilities available in hospitals.
Key Takeaways
The global Ophthalmoscopes market is expected to witness high growth over the forecast period of 2023 to 2030 due to the increasing prevalence of eye diseases, rapidly growing geriatric population, and technological advancements.
Regional analysis shows that North America is expected to dominate the market during the forecast period. This is due to the highly developed healthcare infrastructure, rising prevalence of eye diseases, and growth in geriatric population in the region.
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.
