Ophthalmic Ultrasound Devices Generates over 1/4th of the Revenue through A-Scan, Reveals Fact.MR
Growing incidence of lifestyle- and age-related ophthalmic conditions and an increasing number of diabetic retinopathy in developed as well as developing regions are expected to enhance the product demand. Comments a Fact.MR analyst.
Fact.MR – A Market Research and Competitive Intelligence Provider: The Ophthalmic Ultrasound Devices Market revenues were estimated at US$ 432.2 Mn in 2021 and is anticipated to grow at a CAGR of 9.0% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 1.1 Bn.
In ophthalmology, ultrasound technology is being widely used to treat a range of disorders, including glaucoma, retinal issues, and cancer. The ophthalmic ultrasonography industry has incorporated new technologies to increase the diagnostic capabilities of their instruments. Improved electronics, such as improved transducers, and new technologies, such as linear array-based plane-wave ultrasound, have undoubtedly broadened the toolkits of ophthalmologists and eye surgeons.
The increased frequency of eye diseases such as diabetic retinopathy and cataracts, as well as new product developments, are projected to move the market forward. The availability of effective reimbursement mechanisms such as Medicare and Medicaid is projected to boost market expansion.
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Key Takeaways from the Market Study
- Global Ophthalmic Ultrasound Devices Market is expected to reach a market size of US$ 467.9 Mn by 2022.
- The A-Scan, is expected to have the highest CAGR rate of 9.1% during the forecast period.
- United States to remain the most dominant market with absolute dollar growth opportunity of US$ 200 Mn.
- The market in Japan to experience the highest CAGR of 12.8% during the 2022-2032 forecast period.
The leading players in ophthalmic ultrasound devices market are focusing on growth strategies, such as innovations in the existing product, frequent product launches, and mergers & acquisitions.
- In March 2019, Quantal medical received U.S. FDA approval for the launch of its product called ABSolu.
- In April 2019, Lantheus announced in April that it would combine its microbubble technology with Cerevast's ocular ultrasound device for the treatment of retinal vascular occlusion. This could be an entryway for newer RVO technologies in the years ahead, which may increase the effective use of recently developed ophthalmic ultrasound systems. Cerevast's investigational ocular ultrasound program is undergoing a Phase 2b clinical trial in the second quarter of 2019.
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Market Segments Covered in Ophthalmic Ultrasound Devices Market Analysis
- By Product Type
- Ultrasound Bio Microscope
- By Mobility
- By End Use
- Ambulatory Surgery Centers
- Ophthalmology Clinics
- By Region
- North America
- Latin America
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Fact.MR, in its new offering, presents an unbiased analysis of the Ophthalmic Ultrasound Devices Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032. The study reveals extensive growth in Ophthalmic Ultrasound Devices Market on the basis of Product (B-Scan, A-Scan, Combined, Pachymeter, Ultrasound Bio Microscope), Mobility (Portable, Standalone), End Use (Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, Others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About the Healthcare and Pharmaceutical Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned healthcare and pharma team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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