Global Ophthalmic Diagnostic Devices Market 2019-2023 | Increasing Popularity of POC Testing to Augment Growth | Technavio
LONDON--(BUSINESS WIRE)-- The global ophthalmic diagnostic devices market is expected to post a CAGR of nearly 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global ophthalmic diagnostic devices market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing prevalence of ophthalmic diseases and ocular defects. Ophthalmic diagnostic devices help in detecting ophthalmic diseases such as cataracts, diabetic retinopathy, conjunctivitis, AMD, keratoconus, retinitis pigmentosa, and uveitis. Cataract is the leading cause of blindness, worldwide. Out of every 10 people, 4 are likely to develop cataract at some stage in life. In 2017, the number of cataract surgeries performed amounted to approximately 20 million; this number is estimated to increase to 35 million by 2025.
As per Technavio, the increasing popularity of POC testing for ophthalmology diagnosis will have a positive impact on the market and will contribute significantly to its growth over the forecast period. This global ophthalmic diagnostic devices market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global ophthalmic diagnostic devices market: Increasing popularity of POC testing for ophthalmology diagnosis
In the case of several ophthalmic diseases, early detection and accurate diagnosis are crucial for recovery and effective treatment. The use of POC testing devices for ophthalmology care can deliver diagnostic examination results on a real-time basis, thereby ensuring better outcomes.
“When compared to traditional methods for ophthalmic diagnosis, POC testing takes less time. Additionally, it eradicates the cost of travelling, is reliable, and helps ophthalmologists to take instant clinical decisions. Thus, the availability of POC testing ophthalmic diagnostic devices not only reduces cost but also helps to provide rapid and reliable ophthalmology care in remote and resource-limited settings,” says a senior analyst at Technavio for research on health care equipment.
Global ophthalmic diagnostic devices market: Segmentation analysis
This market research report segments the global ophthalmic diagnostic devices market by product (OCT, fundus camera, perimeters, biometers, and others) and geographical regions (APAC, EMEA, and the Americas).
The OCT segment held the largest market share in 2018, accounting for over 25% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 43%. This region is expected to dominate the market through 2023, however there will be a decrease in its market share.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Source: Technavio Research