Global Advanced Ophthalmology Technologies Market by Type (Therapeutic, Diagnostic), by End Use (Hospitals, ASCs, Ophthalmic Clinics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global advanced ophthalmology technology market was valued at USD 5.8billion in 2018. It is expected to grow 6.5% by 2026. The market is expected to be driven by a large geriatric population and an increasing number of age-associated ophthalmic conditions such as presbyopia, myopia, hyperopia, and cataract.

There is a growing awareness about ophthalmology and early diagnosis of ophthalmic conditions, which has led to a rise in the demand for advanced ophthalmic equipment. Hospitals, clinics, and surgery centers are more likely to invest in advanced ophthalmology technology to reduce turnaround times and increase accuracy. High-resolution images from advanced ophthalmic devices simplify and speed up the diagnosis of ophthalmic diseases.

The most advanced ophthalmic devices can be integrated with other technologies to measure the corneal surface. IOLMaster 700 from ZIESS includes swept-source biometry as well as Total Keratometry technology. Total Keratometry and Swept-source biometry are used to measure the anterior corneal surface.

Market leaders are constantly innovating advanced technologies for ophthalmic care. Topcon Corporation has introduced SP-3000P, a specular microscopy technology that assists practitioners in meeting the need for advanced pachymetry and endothelial technology. This technology is also useful in pre- and post-surgical evaluation.

However, market growth will be impeded by factors like high costs for ophthalmic surgery and advanced ophthalmic equipment. The market growth is also being hampered by the low penetration of advanced ophthalmology technology and devices in rural areas and the lack of skilled ophthalmologists who can operate and monitor these advanced devices.

Type Insights

Advanced ophthalmology technology can be divided into two types based on their type: diagnostic and therapeutic. In 2018, the diagnostic segment held the largest market share and is expected to grow the fastest during the forecast period. This segment is expected to grow due to increasing awareness of ophthalmic conditions and rising demand for faster and more accurate diagnostic tools.

The diagnostic segment is growing because of an increasing number of education and awareness programs on ophthalmology care, which are essential for correct diagnosis and treatment. The most advanced technologies in ophthalmology for diagnosing are the optical coherence microscope scanner, ophthalmic ultrasonic imaging systems, wavefront aberrometers and optical biometry systems. This segment of optical coherence-tomography scanners is expected to grow the fastest. These scanners use low-coherence light for capturing micrometer-resolution detailed images. These scanners are used in the field of ophthalmology to capture high-resolution images from the anterior eye as well as the retina.

The therapeutic segment includes advanced ophthalmic devices like Excimer or Femtosecond lasers, as well as surgical devices like microkeratome or vitreoretinal. The ophthalmic segment accounted for the largest percentage of all product segments in 2018, and it is expected to grow at a rapid pace. These Ophthalmic Lasers have many advantages, including a lower risk of contact lens complications, greater precision, accuracy, safety, and increased safety.

End-use Insights

The market for advanced ophthalmology technology is divided by end-use into hospitals, ambulatory surgical centers (ASCs) and ophthalmic clinics. In 2018, hospitals held the largest market share. Segment growth is expected to be driven by the installation of advanced ophthalmic devices like optical coherence scanners, ophthalmic ultrasonic imaging systems and optical biometry systems.

The segment of ophthalmic clinics is expected to expand at a positive pace over the forecast period. Optometrists and ophthalmologists have the opportunity to offer individual services due to an increasing patient pool with ophthalmic diseases and growing demand. Segment growth will also be supported by the increasing availability of advanced ophthalmology technology in ophthalmic clinics located in untapped areas. The fastest expected growth rate for Ambulatory Surgery Centers is during the forecast period. This segment is expected to grow because of the increasing number of surgical centres that are equipped with advanced ophthalmology technology. ASCs made up around 10% of total surgery revenue in 2015. ASCs are preferred over hospitals due to their lower overhead costs and lower reimbursement rates.

Regional Insights

In 2018, North America accounted for 34.5% global revenue. This market is expected to be driven by the presence of large market players and patient pools in North America. The market will also be fueled by the regular launch of advanced ophthalmic technologies in the U.S. NIDEK's RS-3000 Advance 2 Optical Coherence Tomography was launched in June 2018. This includes a laser ophthalmoscope, (SLO), and allows for comprehensive imaging and analysis.

In 2018, Europe was second in the global market for advanced ophthalmology technology. Market growth is expected to be fueled by the increasing prevalence of age-related eye diseases. The market for advanced technologies in ophthalmology is also growing due to an increase in the number of ophthalmologists within the region.

The Asia Pacific market will grow at the fastest pace during the forecast period. The market's growth is due to factors such as improved healthcare facilities, favorable reimbursement and an increase in healthcare spending. Regional growth is also aided by the large patient base in countries such as China and India.

Advanced Ophthalmology Technologies Market Share insights

Johnson & Johnson Services is a leader in this market. Novartis AG and Alimera Sciences are also leading players. Teva Pharmaceuticals, Bausch & Lomb Incorporated is another major player. The market is fragmented because of the many players competing at both the regional and global levels. These players frequently introduce advanced ophthalmology technology and devices. The U.S. FDA approved VisuMax Femtosecond Laser for small incision lenticule removal (SMILE) procedures in September 2016.

Advanced Ophthalmology Technologies Market Report Scope

The Report Covers Certain Segments

This report forecasts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2015 to 2026. Grand View Research has divided the global advanced ophthalmology technology market report by type, region, and end-use.

• Type Outlook (Revenue USD Million, 2015-2026)

  • Diagnostic

    • Scanners for optical coherence tomography

    • Ophthalmic Ultrasound Imaging Systems

    • Wavefront Aberrometers

    • Optical Biometry Systems

    • Corneal Topography Systems

    • Specular Microscopes

    • Other

  • Therapeutic

    • Ophthalmic Lasers

    • Surgical Devices

• End-use Outlook (Revenue USD Million, 2015-2026)

  • Hospitals

  • Ophthalmic clinic

  • ASCs

  • Other

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

These are the most frequently asked questions about this report

b. Global advanced ophthalmology technology market was valued at USD 6.2 Billion in 2019, and is forecast to grow to USD 6.5 Billion by 2020.

b. Global advanced ophthalmology technology market is expected grow at 6.5% compound annual growth rate from 2019 to 2026, to reach USD 9.6 Billion by 2026.

b. With a 34.2% share in 2019, North America was the dominant market for advanced ophthalmology technology. This can be attributed to the large patient pool, market players and increasing number of product launches.

b. Johnson & Johnson Services is one of the key players in advanced ophthalmology. Novartis AG and Alimera Sciences are also active. Teva Pharmaceuticals, Bausch & Lomb Incorporated. CooperVision, Alcon Vision LLC. Carl Zeiss Meditec AG. Essilor International. S.A. Ziemer Ophthalmic Systems Ltd. Nidek Co. Ltd. and Topcon Corporation.

b. Market growth is driven by increasing incidence and severity of ophthalmic conditions and surgeries, and a growing number of product launches.

Up Market Research published a new report titled “Advanced Ophthalmology Technologies Market research report which is segmented by Type (Therapeutic, Diagnostic), by End Use (Hospitals, ASCs, Ophthalmic Clinics), By Players/Companies making it fragmented These players are frequently introducing advanced ophthalmology technologies and devices In September 2016, Teva Pharmaceuticals, Alcon Vision LLC, thus, Carl Zeiss Meditec AG, Topcon Corporation Numerous players at the global and regional levels are competing in the market, VisuMax Femtosecond Laser was approved by the US FDA for small incision lenticule extraction (SMILE) procedure, Bausch & Lomb Incorporated, Nidek Co Ltd, Alimera Sciences, CooperVision, Ziemer Ophthalmic Systems Ltd, Essilor International SA, Johnson & Johnson Services, Novartis AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Advanced Ophthalmology Technologies Market Report Segments:

The market is segmented by Type (Therapeutic, Diagnostic), by End Use (Hospitals, ASCs, Ophthalmic Clinics).

Advanced Ophthalmology Technologies Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Advanced Ophthalmology Technologies Market

Overview of the regional outlook of the Advanced Ophthalmology Technologies Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Advanced Ophthalmology Technologies Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Advanced Ophthalmology Technologies Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Therapeutic

                2. Diagnostic

                1. Hospitals

                2. ASCs

                3. Ophthalmic Clinics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Advanced Ophthalmology Technologies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Advanced Ophthalmology Technologies Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.