Global Ophthalmoscopes Market to Surpass US$ 305.5 Mn by end of 2028, Says Coherent Market Insights

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Feb 10, 2022, 13:00 ET

SEATTLE, Feb. 10, 2022 /PRNewswire/ -- According to Coherent Market Insights, The global ophthalmoscopes market is estimated to account for US$ 305.5 Mn in terms of value by the end of 2028 at a CAGR of 4.3% between 2021 and 2028.

An ophthalmoscope is a medical device used to perform an ophthalmoscopy. As a medical professional who works to diagnose, treat, and prevent glaucoma and its complications, you probably know how important an accurate visual examination is in order to make the right treatment decisions. A refractive eye exam, or ophthalmoscope, is an indispensable tool that has been developed for helping doctors evaluate eye disease. If performed correctly, an ophthalmoscope can provide the clinician with information about the patient's eyes. The more specific and complete the examination, the greater the chance the doctor will be able to make a correct diagnosis.

In the past, ophthalmoscopes were large, cumbersome instruments that were used almost exclusively by physicians and optometrists. In addition, these instruments were not nearly as user-friendly as they are today. Modern ophthalmoscope are small, lightweight, and most importantly, versatile. The tiny prisms in the front of the unit allow the doctor to focus light that enters through the eye to gauge the amount of eye movement. In addition, a bright, comfortable light is provided to make examining the eye very comfortable for the doctor and patient.

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Market Drivers

Development and launch of new products is expected to propel growth of the global ophthalmoscopes market over the forecast period. For instance, in April 2021, Hillrom launched digital physical assessment innovations with new Welch Allyn PanOptic Plus Ophthalmoscope and Welch Allyn MacroView Plus Otoscope.

Moreover, use of smartphone ophthalmoscopy is also expected to propel growth of the global ophthalmoscopes market over the forecast period. For instance, in April 2021, Samsung Electronics partnered with the International Agency for the Prevention of Blindness and Yonsei University Health System in Korea to develop medical devices that screen for eye disease by upcycling Galaxy smartphones.

Market Opportunities

R&D of smartphone ophthalmoscopy is expected to offer lucrative growth opportunities for players in the global ophthalmoscopes market. For instance, in February 2021, oDocs, founded by Dr. Hong Sheng Chiong, along with Dr. Ben O'Keeffe, reported a functional prototype for a smartphone-based retinal camera.

Moreover, integration of various products is also expected to offer lucrative growth opportunities for players in the global ophthalmoscopes market. For instance, in June 2021, Epipole, a video retinal imaging company, begun working on a €1.1 million collaborative project to develop a technology solution for the diagnosis of intracranial pressure. The Eurostars project will combine Epipole's patented, handheld video ophthalmoscope epiCam technology with StatuManu's AI software.

Market Trends

Major players operating in the global ophthalmoscopes market are focused on adopting merger and acquisition strategies to expand their product portfolio. For instance, in December 2021, Baxter International Inc. acquired Hillrom, a medical equipment maker.

The global ophthalmoscopes market is witnessing recall of various products due to adverse events during procedures. For instance, in February 2018, IRIDEX Corporation recalled TruFocus LIO Premiere, a headmounted indirect ophthalmoscope that connects to an IRIDEX laser console and is used to view and perform laser treatments on a patient's eye.

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Competitive Landscape:

Major players operating in the global ophthalmoscopes market include, Dino-Lite Europe, HONSUN Group, Heine USA Ltd., IRIDEX Corporation, KIRCHNER & WILHELM GmbH + Co. KG, Medline Industries, Inc., NIDEK Inc., Oscar Boscarol S.r.l., Rudolf Riester GmbH, Suzhou Kangjie Medical Inc., US Ophthalmic, Welch Allyn, and Zumax Medical Co., Ltd.

Market Segmentation:

On the basis of product type, the global ophthalmoscopes market is segmented into:

Direct Inspection
Indirect Inspection

On the basis of end user, the global ophthalmoscopes market is segmented into:

Hospitals
Eye Clinics
Ambulatory Surgical Centers

On the basis of region, the global ophthalmoscopes market is segmented into:

North America

U.S.
Canada

Latin America

Argentina
Brazil
Mexico
Rest of Latin America

Europe

Germany
U.K.
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific

Middle East

GCC Countries
Rest of Middle East

Africa

North Africa
Central Africa
South Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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