Visiongain Publishes Ophthalmic Ultrasound Systems Market Report 2020-2030
09 September 2020
Visiongain has published a new report on Ophthalmic Ultrasound Systems Market Report : Forecasts by Product (A-Scan, B-Scan, Combined Scan, Pachymeter, and Ultrasound Bio Microscope (UBM)), by Modality (Portable/Handheld and On-Platform), and by End-user (Hospitals, Eye Research Institutes, Ambulatory Surgical Centers and Ophthalmic Clinics). PLUS Profiles of Leading Ophthalmic Ultrasound System Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global ophthalmic ultrasound systems market was valued at US$ xx million in 2019 and is projected to reach at a market value of US$xx million by 2030. The global ophthalmic ultrasound systems market is driven by factors such as the increasing prevalence of ocular disorders and diseases, adoption of novel ophthalmic technologies, rising focus on research & development, and growing health awareness amongst the population.
COVID-19 Impact on Ophthalmic Ultrasound Systems Market
Novel Coronavirus (COVID-19) Pandemic initiated at Wuhan, Hubei Province, China, at the end of December 2019. The pandemic had a major effect on various industries, including ophthalmology. Small practices have shut down completely; the larger ones cater to emergencies as of now. This, in turn, would have a huge impact on ophthalmology. After COVID 19 epidemic, ophthalmologists will return to work again to cope with on-going and current cases, resulting in a very poor turnover for elective surgery patients.
Overall eye care market is experiencing decline during this pandemic situation as most part of the world is under complete lockdown; only the essential things are being available for the people’s reach. Hospitals especially eye care; are not taking any daily routine check-up, they are attending only critical eye related cases which have lower demand for new ophthalmic ultrasound systems.
Due to the COVID-19 pandemic, ophthalmology clinics/hospitals across the globe have been tremendously impacted, with most suspending routine care and surgery and offering only emergency services. Since ophthalmology is a stand-alone speciality with relatively fewer eye- and life-threatening emergencies, most of the practices have temporarily shut down. This has impacted the market growth.
Increasing Prevalence of Ocular Disorders and Diseases
The persistent rise in the geriatric population directly impacts the growth and advancement of ophthalmology systems, as this demographic is particularly vulnerable to various health disorders compared to younger people, including eye disorders. It generates a major global market for effective disorder and disease control. Thus drives the growth of the market for ophthalmic ultrasound systems.
Globally, the growing prevalence of eye-related diseases contributes to the increased demand for ultrasound in ophthalmology. The eye disorders have arisen in many developed and developing countries as possible threats to the populations. The rise in diabetes incidence in different countries has contributed to the inclusion of diabetic retinopathy on the priority list. Despite of challenges with early diagnosis and the on-going need for life-long therapies, glaucoma, an eye condition known for decades, still persists on the public health agenda.
WHO reports that about 1.3 billion people lived with a form of visual disability in 2018, while 188.5 million people had mild vision loss, 217 million had moderate to extreme vision impairment and 36 million were blind.
Globally, uncorrected refractive errors and cataracts are the leading causes of vision impairment, and most people with vision impairment are older than 50 years. Chronic eye disorders are the number one cause of vision loss, with non-operated cataracts and uncorrected refractive errors being the only two causes according to WHO. The former is the leading cause in low- or middle-income nations.
According to the National Eye Center, the number of cataract sufferers in the U.S. is projected to hit about 40 million in 2030. Surgery, the most successful cure for cataract, is done to assess the strength of the replacement lens only after eye ultrasound imaging. Post-surgery testing is often performed to guarantee that the lens is properly aligned, which indicates the promise of ophthalmic ultrasonic systems.
Accordingly, the above statements suggest that there is an increasing prevalence of eye diseases around the globe that is a driving factor for the market growth studied.
Growing Health Awareness amongst the Population
Rising health awareness amongst the population is likely to drive the growth of the ophthalmic ultrasound systems market in the coming years.
Worldwide, it is estimated that at least 38 million people are blind and that an additional 110 million have severely impaired vision. In all, about 150 million people are visually disabled in the world today, and the number is steadily increasing because of population growth and aging. Overall, the data show that more than 90% of all blind people live in developing countries and that more than two-thirds of all blindness is avoidable (either preventable or curable). Unfortunately, little information is available on the incidence of blindness around the world; it seems probable, however, that there are some 7 million new cases of blindness each year and that despite every intervention, blindness in the world is still increasing by 1 to 2 million cases a year. Thus, trend assessment points to a doubling of world blindness by the year 2020 unless more aggressive intervention is undertaken.
As technology advances; people understand the value of eye care in their routine life. Further, the availability of hospitals and the clinics nearby; patients are being more ready to visit the hospitals for the check-up which increases the number of patients in hospitals; further, it influences to deploy more systems in the hospitals. All these factors are expected to enhance the overall growth of the market.
Government Initiatives Promoting Eye Health Awareness
Public health officials can use an array of legal and public health interventions to promote the population's health, such as issuing and then enforcing regulations. This will help to increase eye health awareness among the people due to which the number of routine eye check-up patients will increase which resulted in the growing demand for ultrasound systems.
Some of the companies profiled in the report include Appasamy Associates, DGH Technology Inc., Ellex Medical Lasers Ltd., Escalon Medical Corp., Halma plc (Keeler Ltd.), MEDA Co., Ltd., Micro Medical Devices, NIDEK CO., LTD., Quantel Medical, and US Ophthalmic. The top players hold significant share of the market and the remaining of the market is shared among the medium to small sized players, which is a major factor contributing towards rivalry.
Strategic Initiatives taken by Major Companies
• In June 2020, Quantel Medical has completed its acquisition of Ellex, including the company’s laser and ultrasound technology solutions (with the exception of 2RT® and iTrack®), via the financial holding company Lumibird Medical.
• In August 2019, Quantel Medical has purchased the Slovenian firm Optotek Medical d.o.o., which specialises in designing optical technologies for medical devices and lasers.
Notes for Editors
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