Future Market Insight, a leading market research firm, has unveiled its latest report on the global next generation optical biometry devices market. The report highlights a significant market valuation of USD 320.7 million in 2021 and projects a steady growth trajectory, with sales anticipated to reach USD 461.3 million by 2028. This represents a compound annual growth rate (CAGR) of 5.4%.
In 2021, next generation optical biometry devices comprised 16.1% of the global ophthalmic imaging devices market, with hospitals dominating the sector by capturing the largest revenue share at 41.8%.
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Despite the promising growth forecast, the report identifies several challenges that may impede market expansion. Key obstacles include a shortage of trained professionals and the high cost of optical biometry devices. Additionally, initial equipment setup costs and ongoing maintenance expenses pose significant barriers to product adoption and the integration of digital solutions in eye care.
Nevertheless, the market is witnessing a shift in business performance score (BPS) values, indicating gradual growth. The increasing prevalence of eye diseases such as cataracts and refractive errors, along with the global expansion of eye care facilities, are primary drivers fostering the adoption of next-generation optical biometry devices.
Technological advancements have spurred the development of automated versions of these devices, enabling precise measurements for refractive and cataract surgeries. These innovations are expected to propel market growth in the foreseeable future.
The Future Market Insight report offers 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.
Key Takeaways: Next Generation Optical Biometry Devices Market
- The market for next-generation optical biometry devices is expected to grow steadily, reaching USD461.3 million by 2028 (a CAGR of 5.4%).
- Increased healthcare spending in the US (through Medicare and Medicaid) for cataract surgeries is driving demand for these advanced devices.
- Focus on patient safety in the US is leading to a need for faster and more precise eye imaging, propelling the market for next-generation optical biometry instruments.
- Similar trends are happening in the UK, with a rising number of cataract surgeries and growing adoption in hospitals fueling market growth.
- The overall increase in cataract treatments and innovative surgical practices will further propel the market forward.
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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
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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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