Global Ophthalmic Imaging Equipment Market Value to Cross US$ 3.5 billion by 2034: Fact.MR Report
An all-encompassing shift from film-based to digital retinal imaging solutions has also accelerated the emerging trends in ophthalmic imaging equipment market, which are expected to fuel the market growth.
Rockville , March 27, 2024 (GLOBE NEWSWIRE) -- The global ophthalmic imaging equipment market is estimated to be worth US$ 2,305.7 million in 2024. The demand for ophthalmic imaging equipment to develop at a CAGR of 4.4% between 2024 and 2034. By 2034, the global ophthalmic imaging equipment industry valuation is likely to reach up to US$ 3,538.7 million.
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An increase in the incidence of eye disorders with a growing aging population is anticipated to remain the key factor fuelling the demand for ophthalmic imaging equipment in the coming days. Global manufacturers are also taking advantage of the emerging technologies in ophthalmic imaging and are providing cutting-edge equipment to the growing patient population.
Report Attribute | Details |
Value Projection (2034) | US$ 3,538.7 Million |
Growth Rate (2024-2034) | 4.4 % CAGR |
No. of pages | 170 Pages |
No. of Tables | 48 Tables |
No. of Figures | 144 Figures |
Key Takeaways from the Global Ophthalmic Imaging Equipment Market Study Report
North America's ophthalmological imaging equipment industry accounts for around 36.1% of the global market in 2024.
The United States ophthalmological imaging solutions market is likely to advance with a CAGR of 4.6% between 2024 and 2034.
The regional markets of Canada and Mexico are expected to progress at 4.8% and 1.9% CAGRs, respectively, through the projected years.
The overall market for optical imaging equipment in East Asia is estimated to be worth around US$ 341 million, 14.8% of the global revenue share, in 2024.
China is the leading manufacturer in East Asia and is estimated to advance with an impressive 5.4% CAGR through the projected years.
Competitive Landscape for Ophthalmic Imaging Equipment Market Players
The incidence of age-related eye disorders is rising due to the aging population in developed and emerging economies like China. So, the emergence of several new market players in Asia and other developing regions is anticipated to fragment the market shortly.
“Leading ophthalmological imaging equipment manufacturers collaborating with well-known eye care facilities and hospitals have become more recognizable and trustworthy. Likewise, Manufacturers or Brands prioritizing a patient-centric imaging experience have also witnessed a satisfying rise in client base as they enhance user comfort and diagnostic outcome, “– says a Fact.MR analyst.
Key Companies Profiled in This Report
Essilor Instruments
Haag-Streit AG
Carl Zeiss AG
Johnson & Johnson Vision Care
Alcon
Canon Inc.
Quantel Medical Inc.
Halma plc
Nidek Co., Ltd.
Topcon Corporation
Recent Developments by the Ophthalmic Imaging Equipment Industry Participants
In June 2020, Quantel Medical finalized the acquisition of Ellex and its laser and ultrasound technology solutions. Shortly, Lumibird Group, the subsidiary of Lumibird Group, Lumibird Medical, was formed by merging three entities, Quantel Medical, Ellex, and Optotek. These subsidiary supplies medical equipment, including fiber lasers, solid lasers, and laser diodes. Lumibard is also known for its dedication to innovation and is a global leader in ophthalmic equipment manufacturing.
In August 2022, the US Food and Drug Administration (FDA) granted Glaukos Corporation 510(k) approval for its new product iStent limitless. This trabecular micro-bypass device is designed to lower patients' excessive intraocular pressure (IOP) and can be used as a stand-alone surgery. This innovative product benefits patients whose primary open-angle glaucoma has not responded to previous medication or surgical therapy.
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Country-wise Insights
Country | Regional Market CAGR (2024 to 2034) |
United States | 4.6% CAGR |
China | 5.4% CAGR |
In 2024, North America will account for 36.1% of the worldwide ophthalmological imaging equipment sector, with a sales of approximately $833 million. Compact and effective retinal imaging technologies are in high demand in North America, helping to fuel the expanding trend of point-of-care imaging in clinics and primary care settings. According to Fact.MR's market analysis, the adoption of ophthalmological imaging equipment in the region is expected to grow at a 4.5% annual rate until 2034, resulting in a net market worth of US$ 1,298 million.
China is the major manufacturer of ophthalmological imaging equipment in East Asia, accounting for more than 50% of total production. So, during the following 10 years, the output of all optometry equipment in this country is expected to increase at a CAGR of 5.4%. Following this lucrative growth rate, China's ophthalmological imaging equipment sector is expected to reach a valuation of US$ 298 million by 2034, up from US$ 175 million in 2024.
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Retinal Imaging Devices Market: The global retinal imaging devices market is currently valued at US$ 2.36 billion and is anticipated to progress at a high-value CAGR of 7% to reach US$ 4.64 billion by the end of 2033.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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