Future Market Insight, a leading market research firm, has released its latest report on the global next generation optical biometry devices market, revealing a value of US$ 320.7 Million in 2021. The report forecasts a steady growth trajectory, with sales expected to reach US$ 461.3 Million by 2028, reflecting a compound annual growth rate (CAGR) of 5.4%.
In 2021, shipments of next-generation optical biometry devices accounted for 16.1% of the global ophthalmic imaging devices market, with hospitals capturing the largest revenue share at 41.8%.
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Challenges such as a shortage of trained professionals and the high cost of optical biometry devices are anticipated to impede market growth in the coming years. Additionally, factors such as initial equipment setup costs and ongoing maintenance expenses may affect product adoption and integration of digital solutions.
Despite these challenges, the market is witnessing a shift in business performance score (BPS) values and is poised for gradual growth. Increasing prevalence of eye diseases like cataract and refractive errors, coupled with the expansion of eye care facilities globally, are key drivers fostering the adoption of next-generation optical biometry devices.
Technological advancements have led to the development of automated versions of these devices, facilitating precise measurements for refractive and cataract surgeries. Such innovations are expected to fuel market growth in the foreseeable future.
The Future Market Insight report provides valuable insights for stakeholders, including manufacturers, healthcare providers, and investors, to make informed decisions and capitalize on emerging opportunities in the Next Generation Optical Biometry Devices Market.
Driving Factors: Next Generation Optical Biometry Devices Market By 2022 to 2028:
The next generation optical biometry devices market is anticipated for significant growth by 2028. Several factors are fueling this expansion:
- Rising Demand in Hospitals: Hospitals are the primary revenue source for this market due to their high demand for the latest optical biometry devices. The increasing number of private and public hospitals globally is expected to further propel market growth. Widespread adoption of these devices in hospitals, particularly for cataract procedures, will drive the need for next-generation models boasting improved functionalities.
- Technological Advancements: Advancements in optical biometry technology are creating devices with superior accuracy, faster measurement times, and wider applications. These features enhance patient care and streamline workflows in ophthalmic practices, leading to greater adoption.
- Growing Geriatric Population: The global population is aging, with a significant rise in the geriatric demographic. This age group is more susceptible to age-related eye diseases like cataracts, which require procedures using optical biometry devices. This growing patient pool will contribute to market expansion.
- Focus on Improved Patient Outcomes: The healthcare industry prioritizes improved patient outcomes. Next-generation optical biometry devices offer enhanced precision during ophthalmic surgeries, leading to better patient outcomes and faster recovery times. This focus on improved care will drive market demand.
- Increasing Government Support: Governments in various countries are implementing initiatives to improve healthcare infrastructure and access to advanced medical technologies. This includes support for ophthalmic care, which can positively influence the adoption of next-generation optical biometry devices.
These factors, combined with rising healthcare expenditure and growing awareness about eye health, are expected to propel the next-generation optical biometry devices market towards significant growth in the coming years.
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Next Generation Optical Biometry Devices Market – Competitive Landscape
The competition section of the next generation optical biometry devices industry report features the profiles of key players based on their market shares, differentiating strategies, product offerings, and marketing approach.
- Carl Zeiss AG offers diversified next generation optical biometry devices, which include IOL master 500 with Partial coherence interferometry (PCI) and IOL master 700 with swept-source optical coherent technology. Next generation optical biometry devices provide accuracy and efficiency, which are the foundation for calculating the IOL power.
Key Companies Profiled:
- Nidek Co Ltd.
- Ziemer Ophthalmic Systems
- TOMEY GmbH
- Movu Inc.
- OCULUS Optikgeräte GmbH.
- Bausch & Lomb Incorporated
- Topcon Corporation
- Heine Optotechnik GmbH & Co. KG
- AMETEK, Inc.
- Optovue, Incorporated
- Leica Microsystems GmbH
Key Segments of Next Generation Optical Biometry Devices Industry Survey:
Next Generation Optical Biometry Devices Market by Product Type
- Swept-Source Optical Coherence Tomography (OCT) Based Biometers
- Partial Coherence Interferometry (PCI) Based Biometers
- Optical Low Coherence Reflectometry (OLCR) Based Biometers
Next Generation Optical Biometry Devices Market by End User
- Hospitals
- Ophthalmology Clinics and Specialized Eye Care Centers
- Ambulatory Surgical Centers
Next Generation Optical Biometry Devices Market by Region
- North America Next Generation Optical Biometry Devices Market
- Latin America Next Generation Optical Biometry Devices Market
- Europe Next Generation Optical Biometry Devices Market
- East Asia Next Generation Optical Biometry Devices Market
- South Asia & Pacific Next Generation Optical Biometry Devices Market
- Middle East & Africa (MEA) Next Generation Optical Biometry Devices Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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