Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Ophthalmic Perimeters market.
Trusted Business Insights presents an updated and Latest Study on Ophthalmic Perimeters Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Ophthalmic Perimeters market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Ophthalmic Perimeters Market
The global ophthalmic perimeters market size was valued at USD 260.0 million in 2018 and is projected to grow at a CAGR of 4.1%. Growing prevalence of ophthalmic conditions such as glaucoma and cataract is expected to drive overall growth. Moreover, increasing number of product launches in the market is also expected to boost growth.
End users such as hospitals and ophthalmic clinics including nonprofit organizations are expanding their presence in rural areas, especially in Asia & Africa. Such strategic initiatives are expected to expand the reach of modern ophthalmic care, which in turn is expected to propel the overall growth.
Increase in nonprofit organizations and introduction of ambulatory care centers are major factors boosting demand for ophthalmic perimeters. Growing competition in ophthalmic care service industry is expected to fuel demand for technologically advanced perimetry systems during the forecast period.
Technological advancements in perimetry systems include high-quality displays, development of image processing & analysis software, and simplification of operations. Moreover, introduction of advanced perimeters at competitive prices is expected to increase rate of replacement of old perimeters.
Manufacturers of ophthalmic perimeters are conducting perimetry courses to enable users learn swift usage of the device. These courses also incorporate workshops to provide hands-on experience to users. Apart from conducting courses for perimetry, manufacturers are also participating in medical trade shows, conferences, and medical exhibitions to showcase products such as ophthalmic perimeters. Such initiatives are expected to improve customer loyalty and boost adoption of advanced devices.
Product Insights of Ophthalmic Perimeters Market
Combination ophthalmic perimeters segment is expected to witness fastest growth during the forecast period. These combined devices help examine peripheral defects due to its high resolution, which can capture large affected area. Moreover, these devices provide accurate result in less time, which is expected to boost its adoption rate.
Static perimeter held largest share in 2018 and is expected to show a moderate growth during the forecast period. Effective use of static perimeter for visual field testing in children with glaucoma is expected to drive segment growth. Moreover, these devices are easily available in the market to perform vision tests in people with glaucoma and macular diseases.
Kinetic perimeter is expected to experience a significant growth during the forecast period. One of the key factors driving growth is the devices capability to capture moving stimulus, providing accurate results. Moreover, the devices high spatial resolution makes it better & faster to capture advanced scotoma.
Hospitals held largest market share in 2018. Increasing number of hospitals in developing countries and growing competition in healthcare service providers are expected to boost demand for advanced ophthalmic perimeters during the forecast period. Moreover, rising mergers & acquisition between ophthalmology nonprofit organization & hospitals and growing trends of ambulatory care centers are some of the factors expected to fuel demand for new installation in the coming years. Growing prevalence of age & lifestyle-associated eye conditions and increasing number of ophthalmologists in developing countries are expected to fuel demand for ophthalmic clinics, which is further anticipated to drive clinics segment growth. Moreover, many hospitals are also developing integrated ophthalmic centers for various procedures such as visual field analysis.
Charitable & nonprofit organizations, research institutes, laboratories, and ophthalmic associations/societies have been focusing on expanding their services to remote areas. Some of these nonprofit organizations are:
– Optometry Cares – The AOA Foundation
– American Academy of Optometry Foundation
– The Low Vision Center
– SEE International
– World Blind Union
– Rotarian Action Group for Blindness Prevention
– Vision Aware
Regional Insights of Ophthalmic Perimeters Market
North America held the largest market share in 2018 owing to high adoption of technologically advanced medical devices and increasing demand for accurate devices. Moreover, presence of global & local manufacturers and suppliers in the region is also expected to propel the overall growth.
Asia Pacific is also anticipated to witness fastest growth during the forecast period. Rapidly developing economies and improving healthcare services in Southeast Asian countries, China, and India are expected to propel growth. Moreover, due to local presence of players, such as Optitech Eyecare & Medmont International, advanced devices are available at competitive prices, which is expected to drive the market during the forecast period. A significant number of players export ophthalmic perimeter devices to countries in MEA, which further boosts growth. In addition, conferences, trade shows and seminars conducted in Asia Pacific for ophthalmic care devices are also helping local players get international exposure.
Market Share Insights of Ophthalmic Perimeters Market
Some leading players in ophthalmic perimeters market are Haag-Streit AG; Carl Zeiss AG; Topcon Corporation; Nidek Co., Ltd.; Heidelberg Engineering GmbH; Optopol Technology Sp. z o.o.; Takagi Seiko Co., Ltd.; Kowa Company, Ltd.; Metrovision; Konan Medical USA, Inc.; and Centervue S.P.A. These players focus on growth strategies such as new product launches, innovations in existing products, and mergers & acquisitions. For instance, in October 2018, Konan Medical acquired objectiveFIELD from Australian National University., which is designed for testing both eyes simultaneously. This procedure saves significant amount of time. The device can be used effectively in diagnosis of ophthalmic and other conditions such as macular degeneration, diabetic retinopathy, glaucoma, epilepsy, multiple sclerosis, migraine, concussion, & various neuro-vision conditions.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Ophthalmic Perimeters Market Research Report
This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global ophthalmic perimeters market report on the basis of product, end use, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
End-use Outlook (Revenue in USD Millions, 2019 – 2030)
Quick Read Table of Contents of this Report @ Ophthalmic Perimeters Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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