New York, United States , July 01, 2024 (GLOBE NEWSWIRE) -- The Global Ophthalmoscopes Market Size is to Grow from USD 251.2 Million in 2023 to USD 482.31 Million by 2033, at a CAGR of 6.74% during the projected period.
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The retina, optic disc, choroid, and blood vessels are all found in the fundus, the back portion of the eye that may be examined with an ophthalmoscope. A combination of light sources and lenses called an ophthalmoscope is used by doctors to perform the eye test. The ophthalmoscope is the treatment of choice for patients with headaches or bulging optic discs. Direct and indirect ophthalmoscopies are the two primary types of ophthalmoscopies. The intensity of magnification is the primary distinction between these two varieties. Over the projected period, the growing prevalence of glaucoma is expected to fuel the ophthalmoscope market's expansion. Additionally, the accuracy and accessibility of eye exams have been enhanced by the advent of computerized and portable ophthalmoscopes, among other advances in sophisticated technology. Additionally, media awareness campaigns, educational initiatives, and community health campaigns help shed light on the importance of time-consuming eye exams as well as eye health and safety. However, the high cost of ophthalmoscopes can be a significant obstacle to their acquisition, particularly for smaller healthcare providers, individual doctors, and underfunded healthcare systems. In addition, the demand for ophthalmoscopes is hampered by limited access to eye care facilities in densely populated areas or vulnerable groups.
Browse key industry insights spread across 289 pages with 110 Market data tables and figures & charts from the report on the "Global Ophthalmoscopes Market Size, Share, and COVID-19 Impact Analysis, By Type (Direct and Indirect), By Application (Diabetic Retinopathy, Macular Degeneration, Retinal Repair, Glaucoma, and Others), By End-Use Industry (Hospitals, Ophthalmic Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The direct segment dominates the market with the largest revenue share through the predicted timeframe.
Based on type, the global ophthalmoscopes market is segmented into direct and indirect. Among these, the direct segment dominates the market with the largest revenue share through the predicted timeframe. Regular eye exams typically involve the use of direct ophthalmoscopes to look for indications of disease or injury. They are particularly useful for inspecting the retina, optic disc, and other posterior eye components. These devices provide a reasonably clear picture and are simple to operate.
The glaucoma segment dominates the global ophthalmoscopes market over the predicted timeframe.
Based on the application, the global ophthalmoscopes market is segmented into diabetic retinopathy, macular degeneration, retinal repair, glaucoma, and others. Among these, the glaucoma segment dominates the global ophthalmoscopes market over the predicted timeframe. Globally, glaucoma is the leading cause of blindness. Ophthalmoscopes are an important tool in glaucoma supervision because early detection and specialized care of glaucoma are essential to preventing vision loss.
The hospitals segment dominates the global ophthalmoscopes market during the predicted timeframe.
Based on the end-use industry, the global ophthalmoscopes market is segmented into hospitals, ophthalmic clinics, and others. Among these, the hospitals segment dominates the global ophthalmoscopes market during the predicted timeframe. Ophthalmologists, optometrists, and other medical professionals utilize ophthalmoscopes as powerful diagnostic instruments in hospitals to examine patients with a wide range of eye diseases and disorders.
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North America dominates the market with the highest market share during the forecast period.
North America dominates the market with the highest market share during the forecast period. The primary drivers of the ophthalmoscope market's growth are the increasing prevalence of eye conditions and illnesses like glaucoma, age-related macular degeneration, and diabetic retinopathy, which require regular eye exams and specialized care. In the North America ophthalmoscope market, advanced technology is being acquired through the use of digital ophthalmoscopes with telemedicine capabilities. The industry is expanding due in part to strong support from government healthcare programs and research initiatives in the realm of eye care. These elements support the ophthalmoscope market's growth in this area.
Asia-Pacific region is expected to grow rapidly during the forecast period. Due to the large number of elderly people living in the Asia Pacific region, which includes countries like China, Japan, India, and others, it was anticipated that the need for ophthalmic devices would rise as the frequency of eye diseases increased. In addition, increased government spending on healthcare and growing public awareness of eye health are driving market growth. The Asia Pacific area has promising opportunities for manufacturers of ophthalmoscopes and providers of eye care services. These aspects support the Asia Pacific region's ophthalmoscope market's growth during the anticipated period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global ophthalmoscopes market are Keeler Ltd. Co., Albert Waeschle, US Ophthalmic, HONSUN Group, Dino-Lite Europe, Welch Allyn, Zumax Medical Co. Ltd, Neitz Instruments Co., Ltd., Heine USA Ltd, Rudolf Riester GmbH, Iridex Corporation, Oscar Boscarol S.r.l., NIDEK Inc., Suzhou Kangjie Medical Inc., and Other Key Players.
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Recent Developments
- In January 2023, Researchers at Stanford University's Department of Ophthalmology established hybrid FPGA-CPU computing to build low-latency monocular pupil trackers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global ophthalmoscopes market based on the below-mentioned segments:
Global Ophthalmoscopes Market, By Type
- Direct
- Indirect
Global Ophthalmoscopes Market, By Application
- Diabetic Retinopathy
- Macular Degeneration
- Retinal Repair
- Glaucoma
- Others
Global Ophthalmoscopes Market, By End-Use Industry
- Hospitals
- Ophthalmic Clinics
- Others
Global Ophthalmoscopes Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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