Ophthalmic Ultrasound Devices Market Share to Increase at a CAGR of Around 9.0% by 2032: Fact.MR Analysis

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Rockville, May 09, 2023 (GLOBE NEWSWIRE) — The market for ophthalmic ultrasound devices had global sales of US$ 432.2 million in 2021. According to Fact.MR – a market research and competitive intelligence provider, historically, from 2017 to 2021, the global ophthalmic ultrasound devices market demand increased at around 7.5% CAGR.

The estimated market growth between 2022 and 2032 is anticipated to be 9.0%, which is much larger than the increase in the past. A-Scan is anticipated to generate the most income, with a CAGR of 9.1% predicted between 2022 and 2032.

Ophthalmic ultrasonography equipment is used by ophthalmology specialists to identify diseases of the eye, such as glaucoma, problems with the retina, and cancer. To increase the appeal of their products to medical professionals, makers of ultrasound technology in this industry use new developments.

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Market Drivers:

• The rising incidence of eye diseases such as cataracts, glaucoma, retinal detachment, and macular degeneration is driving the demand for ophthalmic ultrasound devices. These devices help in the diagnosis, monitoring, and treatment planning of various eye conditions.
• The aging population is more susceptible to eye-related disorders, including age-related macular degeneration (AMD) and cataracts. As the global population continues to age, the demand for ophthalmic ultrasound devices is expected to increase.
• Ophthalmic ultrasound devices have witnessed significant technological advancements, leading to improved imaging capabilities, higher resolution, and better diagnosis accuracy. The development of portable and handheld devices has also expanded the accessibility of ultrasound technology in ophthalmology, driving market growth.
• Ophthalmic ultrasound devices provide non-invasive imaging techniques that help in the diagnosis of various eye conditions without the need for surgical procedures. This aspect is particularly appealing to patients and healthcare providers, contributing to the market’s growth.
• Increasing awareness about the importance of early detection and screening for eye disorders has led to the implementation of various screening programs by governments and healthcare organizations. Ophthalmic ultrasound devices play a vital role in such screening programs, further driving market growth.
• Many developing countries are investing heavily in healthcare infrastructure, including ophthalmic care facilities. This increased focus on improving healthcare facilities and access to advanced diagnostic tools, including ophthalmic ultrasound devices, is expected to boost market growth.
• Favorable reimbursement policies provided by government and private insurance companies for ophthalmic ultrasound procedures encourage healthcare providers to adopt these devices. This factor positively impacts the market growth by ensuring wider availability and accessibility of ophthalmic ultrasound devices.

Market Restraints:

• Ophthalmic ultrasound devices can be expensive, particularly those with advanced features and capabilities. The high cost can limit their adoption, especially in developing countries and healthcare facilities with limited budgets.
• Operating and interpreting ophthalmic ultrasound devices require specialized skills and training. The shortage of skilled ophthalmic ultrasound technicians and healthcare professionals proficient in interpreting ultrasound images can be a restraint for market growth, as it limits the widespread adoption of these devices.
• In some regions, particularly in low-income or rural areas, there may be limited awareness about ophthalmic ultrasound devices and their benefits. Additionally, the lack of healthcare infrastructure and accessibility to advanced diagnostic tools can hinder market growth in these areas.

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Trends

• There is a growing trend towards miniaturization and portability of ophthalmic ultrasound devices. Manufacturers are developing smaller, handheld devices that offer convenience, ease of use, and point-of-care capabilities. These portable devices allow for greater accessibility and flexibility in ophthalmic ultrasound imaging.
• Ophthalmic ultrasound devices are increasingly being integrated with other imaging modalities such as optical coherence tomography (OCT) and fundus photography. This integration allows for more comprehensive and multimodal imaging of the eye, providing clinicians with a more comprehensive diagnostic toolkit.
• Ophthalmic ultrasound devices are benefiting from advancements in imaging technology, such as higher resolution, improved image quality, and enhanced visualization capabilities. These advancements help in better visualization of ocular structures and improve diagnostic accuracy.
• The integration of artificial intelligence (AI) and machine learning algorithms in ophthalmic ultrasound devices is gaining traction. AI-based image analysis algorithms can assist in automated segmentation, detection of abnormalities, and quantitative analysis of ultrasound images, aiding clinicians in diagnosis and treatment planning.
• The adoption of telemedicine and remote diagnostics has increased significantly, driven by advancements in communication technology. Ophthalmic ultrasound devices are being utilized in telemedicine applications, enabling remote consultations and diagnostics, particularly in underserved areas and for patients who have difficulty accessing healthcare facilities.
• There is a growing focus on pediatric ophthalmology, leading to the development of specialized ophthalmic ultrasound devices for pediatric patients. These devices are designed to meet the unique needs and challenges associated with imaging and diagnosing eye conditions in children.
• Ophthalmic ultrasound devices are being increasingly used as surgical guidance tools during ophthalmic procedures. Real-time ultrasound imaging helps surgeons visualize anatomical structures and guide surgical interventions, such as cataract surgery and vitrectomy, leading to improved surgical outcomes.

Competitive Landscape

• Carl Zeiss Meditec is a leading player in the ophthalmic medical technology industry. They offer a range of ophthalmic devices, including ophthalmic ultrasound systems. Their ultrasound devices provide high-resolution imaging and advanced diagnostic capabilities. Carl Zeiss Meditec focuses on product innovation and has a strong global presence.
• Nidek is a Japanese company that develops and manufactures ophthalmic equipment. They offer a comprehensive portfolio of ophthalmic devices, including ophthalmic ultrasound systems. Nidek’s ultrasound devices are known for their advanced imaging technology and ergonomic design. The company has a global presence and is known for its commitment to innovation.
• Halma is a global group of companies operating in various sectors, including healthcare. Optos, a subsidiary of Halma, specializes in advanced retinal imaging devices. While not exclusively focused on ultrasound devices, Optos offers widefield retinal imaging technology that provides a panoramic view of the retina, including the peripheral areas.
• Sonomed Escalon, a subsidiary of Escalon Medical, specializes in diagnostic devices for ophthalmology. They offer a range of ophthalmic ultrasound systems, including both A-scan and B-scan devices. Sonomed Escalon’s ultrasound devices are known for their accuracy and user-friendly interfaces.
• Iridex Corporation, through its subsidiary Micro Medical Devices, develops and manufactures ophthalmic lasers and diagnostic devices. Their portfolio includes ophthalmic ultrasound systems for various applications, including diagnostic imaging and surgical guidance. Iridex focuses on delivering innovative solutions for ophthalmic care.

Key Companies Profiled

• Halma plc
• Carl Zeiss Meditech
• Nidek Co. Ltd
• Quantel Medical
• Escalon Medical Corporation
• Optos
• Ellex
• MicroMedical Devices

New Developments (2021)

• The Ophthalmic Ultrasound Devices Market has seen ongoing advancements in technology, such as improvements in imaging resolution, image processing algorithms, and user interface designs. These advancements aim to enhance the accuracy, efficiency, and ease of use of ophthalmic ultrasound devices.
• The integration of ophthalmic ultrasound devices with other imaging modalities, such as optical coherence tomography (OCT) and fundus photography, has been a significant development. This integration allows for multimodal imaging, providing clinicians with a more comprehensive understanding of ocular conditions.
• There has been a growing trend towards the development of portable and handheld ophthalmic ultrasound devices. These devices offer convenience, mobility, and point-of-care capabilities, allowing for increased accessibility and flexibility in various clinical settings.
• The application of artificial intelligence (AI) and machine learning algorithms in ophthalmic ultrasound devices has gained traction. AI-based image analysis algorithms can assist in automated segmentation, detection of abnormalities, and quantitative analysis of ultrasound images, aiding in more accurate and efficient diagnosis.
• The Ophthalmic Ultrasound Devices Market has witnessed ongoing research and clinical studies to explore new applications, refine imaging techniques, and evaluate the efficacy of ultrasound-guided interventions. These studies contribute to the expanding knowledge base and clinical utility of ophthalmic ultrasound devices.

Market Segments Covered in Ophthalmic Ultrasound Devices Market Analysis

• By Product Type
  • B-Scan
  • A-Scan
  • Combined
  • Pachymeter
  • Ultrasound Bio Microscope
• By Mobility
  • Portable
  • Standalone
  • By End Use
  • Hospitals
  • Ambulatory Surgery Centers
  • Ophthalmology Clinics
  • Others
• By Region
  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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New Launches (2021)

• Quantel Medical launched the Aviso S ultrasound system for ophthalmology. It offers high-resolution imaging and advanced diagnostic capabilities for applications such as anterior segment imaging, posterior segment imaging, and biometry.
• Heidelberg Engineering introduced OCTANET, a software platform that integrates various diagnostic imaging modalities, including ophthalmic ultrasound, OCT, and fundus photography. The platform allows for comprehensive analysis and management of ophthalmic data.
• Ellex Medical Lasers launched the Axis Nano, a compact and portable ophthalmic ultrasound system. The device offers B-scan and biometry capabilities in a handheld format, making it suitable for point-of-care and remote imaging.
• Nidek introduced the CLEARPATH DS-120, an ophthalmic ultrasound system designed for posterior segment imaging. The device offers high-resolution imaging with features like swept-source technology and widefield scanning.
• Sonomed Escalon launched REVENANT, an ophthalmic ultrasound system that provides high-resolution imaging and real-time measurements. The system is designed for both A-scan and B-scan applications in ophthalmology.

Key Questions Covered in the Ophthalmic Ultrasound Devices Market Report

• What will be the estimated size of the Market in 2023?
• At what rate will the global Ophthalmic Ultrasound Devices sales grow until 2032?
• Which are the factors hampering the Ophthalmic Ultrasound Devices demand?
• Which region will spearhead the growth in the global industry by 2032?
• Which are the factors driving sales in the Ophthalmic Ultrasound Devices Market during the forecast period?

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