Global Laser Indirect Ophthalmoscope Market to Surpass US$ 130.2 Million by 2026
SEATTLE--(BUSINESS WIRE)--Jan 24, 2019--According to Coherent Market Insights, the global laser indirect ophthalmoscope market was valued at US$ 89.5 million in 2017 and is projected to exhibit a CAGR of 4.2% during the forecast period (2018–2026).
Key Trends and Analysis of the Laser Indirect Ophthalmoscope Market:
Leading manufacturers such as Heine Optotechnik GmbH, Keeler Ltd., Iridex Corporation, Lumenis Ltd, and others offer technologically advanced laser indirect ophthalmoscope in the market, in order to facilitate better ophthalmic care at the basic healthcare management level. For instance, Iridex Corporation offers TruFocus optical system for great working distance and diagnostic capabilities with dual wavelength capabilities. Moreover, Lumenis Ltd offers Smart LIO multiwavelength system in the market, which is compatible with multiple Lumenis photo coagulators and other ophthalmic instruments.
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Indirect ophthalmoscopes offered by Keeler Ltd. are available with video capture facilities such as Vantage Plus LED Digital indirect ophthalmoscope. Many other indirect ophthalmoscopes available in the market have technological advantages and features such as compact design, lightweight, wireless connectivity, and others. Presence of variety of options for ophthalmic practitioners, frequent technological advancements, and increasing need of such instruments in basic ophthalmic care are expected to drive growth of the global laser indirect ophthalmoscope market.
Product launches and regulatory approvals of new laser indirect ophthalmoscope is expected to boost the global laser indirect ophthalmoscope market growth over the forecast period. For instance, Iridex Corporation announced introduction of its updated TruFocus laser indirect ophthalmoscope (LIO) premier laser accessory following the U.S. Food & Drug Administration (FDA) 510(k) clearance in 2018. The TruFocus LIO Premiere is a light combination and reflection viewing system designed to be used with the Iridex retina laser system. Furthermore, regulatory support from regional regulatory bodies such as the U.S. FDA oversee the laser indirect ophthalmoscope and other medical devices marketing approvals, and post marketing surveillance on such medical devices. These factors are expected to boost the global laser indirect ophthalmoscope market growth over the forecast period.
Rising prevalence of certain ophthalmic diseases such as peripheral neovascularization, lattice degeneration, and diabetic retinopathy is expected to boost growth of global laser indirect ophthalmoscope market over the forecast period. For instance, according to the Royal National Institute of Blind People (RNIB), over 5.7 million people are suffering from sight-threatening eye conditions in the U.K. in 2014. Moreover, 2 million individuals were suffering from sight loss in 2016, which is expected to increase to over 2.7 million individuals by 2030. Moreover, according to the Royal National Institute of Blind People (RNIB) data findings, in 2014, around 350,000 people were registered as blind or partially sighted. Increasing healthcare expenditures for treatment of sight loss, blindness, and sight-threatening conditions are expected to propel demand for basic eye care and examination, thereby propelling demand for necessary equipment such as laser indirect ophthalmoscopes over the forecast period.
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Key Market Takeaways:The global laser indirect ophthalmoscope market is expected to exhibit a CAGR of 4.2% over the forecast period. This is owing to increasing demand for basic ophthalmic care in developed as well as emerging economies along with various product offerings by leading players Manufacturers are focused on providing technologically advanced products by taking cost sensitivity in developing regions such as Asia Pacific and Latin America into consideration North America is expected to hold dominant position in the global laser indirect ophthalmoscope market over the forecast period, owing to product launches and potential customer base Major players operating in the global laser indirect ophthalmoscope market include Ellex Medical Lasers Ltd, Iridex Corporation, Alcon, Carl Zeiss Meditec AG, Lumenis Ltd., Topcon Medical Laser System, Nidek Co. Inc., Ziemer Ophthalmic Systems AG, Heine Optotechnik GmbH, and Keeler Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES OPTICAL
SOURCE: Coherent Market Insights
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PUB: 01/24/2019 10:12 AM/DISC: 01/24/2019 10:12 AM