Ophthalmic Diagnostic Equipment Market Key Opportunity, Analysis to 2030

Posted by Akshay Solanki on November 3rd, 2021

As per NCBI, the number of people suffering from diabetic retinopathy will increase from 126.6 Mn in 2010 to 191 Mn by 2030. It also states that VTDR (Vision-threatening Diabetic Retinopathy) will witness an increase from 37.3 Mn to 56.3 Mn in the same period.

The above-mentioned figures, coupled with an influx of ophthalmic diagnostic centres in the countries like India and China (homes to the 2 top-seeded diabetic patients) are expected to drive the ophthalmic diagnostic equipment market in the forecast period.

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Plus, the reimbursement scenario regarding eye care treatment is improving in developed and developing countries alike. Initially, reimbursement was possible only if there was a hospital stay for at least 24 hours.

However, the present scenario is such that LASER technology enables single-day treatment and insurance coverage is applicable therein. So, people in low-income countries will also not shy away from availing eye care treatments.

Key Takeaways of Ophthalmic Diagnostic Equipment Market Study

The optical coherence tomography (OCT) held the largest share in the global ophthalmic diagnostic equipment market in 2019
North America and Europe are expected to hold close to 30% of the global ophthalmic diagnostic equipment market in 2020 and the trend is expected to continue In the forecast period
Asia Pacific expected to witness an exponential growth in the forecast period

Expansion and Visibility: Indigenous Strategies for Market Players

The ophthalmic diagnostic equipment market players are focusing on qualitative expansion and visibility to sustain their foothold in the ophthalmic diagnostic equipment market. Some of the steps taken on this count include:

In June 2020, IBM Watson partnered with Japan-based Topcon Corporation in order to fast-track the development of products and services that improve the diagnosis, and treatment of eye disease, ultimately improving access for better patient care.
In June 2020, Essilor collaborated with Michelin for jointly launching an UN-certified awareness campaign named “Together for safe mobility: Check your vision, check your tires”. The basic objective is to throw light on good vision apart from good tires. This campaign is likely to increase the demand for ophthalmic diagnostic equipment worldwide as UN has officially recommended road safety goals at a global level.
Ellex is working in close collaboration with the ophthalmic physicians across the globe regarding minimally invasive options for treatment of glaucoma.

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Akshay Solanki
Joined: December 29th, 2020
Articles Posted: 475

Ophthalmic Diagnostic Equipment Market Key Opportunity, Analysis to 2030

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