Ophthalmoscopes market led by exposure suits segment growing at 4.6 % CAGR to 2027
The ophthalmoscopes market was valued at US$ 216.79 million in 2018 and it is projected to reach US$ 322.13 million in 2027; it is expected to grow at a CAGR of 4.6% from 2019 to 2027.
Ophthalmoscopes market is expected to reach US$ 322.13 Mn in 2027 from US$ 216.79 in 2018. The ophthalmoscopes market is estimated to grow with a CAGR of 4.6% from 2019-2027.
The market is driven by the factors such as, rising prevalence of eye diseases in developing and developed nations, significantly growing elderly population and increasing prevalence of glaucoma in individuals are likely to drive the growth of the market in the forecasted period. However, the challenges associated with retinal examination may show some impact to the growth of the market.
Increasing prevalence of glaucoma is likely to grow the ophthalmoscopes market significantly in the forecast period. Glaucoma is a very misunderstood diseases and people often neglect its severity. Glaucoma is a disorder or a disease that damages the eye’s optic nerve. The condition occurs when a layer of fluid fills up on the outer side of the eye, creating a pressure and hence leading to damage to optic nerves. Glaucoma often leads to vision loss, eventually causing blindness. As per the WHO it is stated that glaucoma is the second cause of the blindness in the world it estimates that 4.5 million people worldwide are blind due to glaucoma. In the United States, around 120,000 are blind from glaucoma, accounting for 9% to 12% of all cases of blindness. The geriatric population is the most susceptible to vision loss due to glaucoma However, if it is detected and treated at an early stage, one can avoid vision loss. The worldwide age-standardized prevalence of glaucoma in the population aged 40 years and above is estimated to be around 3.5%. Therefore, owing to the factor the market is likely to boost in the forecast period.
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The players in the market are adopting various inorganic and organic developments for the individual growth and thus the growth of the market is highly dependent on them. The vital players in the ophthalmoscopes treatment devices market focus on various growth strategies to enroot their presence and garner major market share across the globe. Some of the notable players in the global ophthalmoscopes treatment devices market includes Welch Allyn, Heine USA Ltd., Iridex., Carl Zeiss Meditec AG, American Diagnostic Corporation, Honsun, Halma plc, Lumenis and Guangzhou Bisen Medical Co., Limited among others. The major market players within the recent years, have been observed to invest a substantial amount towards the development of new products. This implies a bright picture on the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the ophthalmoscopes market. The global leaders in the market have been majorly adopting product launches and product up-gradation as one of the key strategy to improve its product lines in order to build up a customer centric benefits to its end users and enhance its geographic diversification.
The global leaders are expanding their activities across the world and are developing various innovative techniques to diagnose the eye conditions. For instance, Carl Zeiss Meditec AG has launched total keratometry for the IOLMaster 700 that offers opportunities to cataract surgeons for the replacement of assumptions about the posterior corneal surface with precise measurements, which will enhance the their results. Additionally, the company has also announced receiving approval from FDA for its Advanced Nerve and Glaucoma Imaging (A N G I) Network. The major goal of the company is to enhance the global collaborations so as to elevate the latest research in Glaucoma and optic nerve diseases. Thus, the considering these developments the for the ophthalmology industry the players operating for the ophthalmoscopes are likely to improve their performance and provide enormous benefits to their customers and end users.
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