As per the new research report released by Transparency Market
Research, the global ophthalmic ultrasound systems market is largely
consolidated with the presence of many small scale and large
companies. However, the global ophthalmic ultrasound systems market
is dominated by top seven companies, accounting for more than 90
percent of the market share. Market players such as Nidek Co. Ltd.,
Ellex Medical Lasers Ltd., Quantel Medical, Optos Plc and Halma Plc
dominated the market. NIdek Co. Ltd. accounted for a significant
share of 18 percent of the global ophthalmic ultrasound systems
market in 2015. The company dominated the market due to its
diversified product portfolio, extensive geographical presence and
acquisition strategies. Quantel Medical, Optos Plc and Halma Plc are
among the leading top five companies in the market due to the
expansion of ophthalmic production units and also innovation in
designing ultrasound devices.
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As per the numbers available in the report, the global ophthalmic
ultrasound system market was valued at US$ 2,657.9 Mn in 2017 and is
anticipated to reach a valuation of US$ 4,031.2 Mn in 2024 end,
reflecting a CAGR of 6.1% during the period of assessment.
Novel technological platforms render enhanced imaging reliability,
accuracy, safety and minimal post-operative pain with the adoption of
minimally invasive surgeries. Most of the manufacturers are investing
heavily on the development of novel diagnostic and surgical platforms
in order to cater to the need and demand for patients. Hence, the
technological advancements and ongoing research studies ensure
regular technological breakthroughs. This results in enhanced growth
and acceptance of several ophthalmology devices. This in turn is
boosting the global ophthalmic ultrasound systems market.
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The demand for efficient diagnostic devices is increasing owing to
rapid technological advancements. Several device manufacturers are
investing heavily in research and development activities in order to
develop novel diagnostic and surgical platforms, due to which the
cost of such devices is high. There has been an increase in
requirements for the approval of regulatory authorities such as the
U.S. Food and Drug Administration (FDA), European CE Mark, and
Japanese authorities. This has collectively led to higher pricing of
the newly developed medical devices. The primary customers of such
devices such as hospitals and commercial diagnostic laboratories and
research are adversely affected due to the high price of such kind of
devices. This acts as a huge restraint in the growth of the global
ophthalmic ultrasound systems market.
According to the International Council of Ophthalmology (ICO), there
is a dearth of specialized ophthalmologists in developing countries
such as India, China and Malaysia as compared to developed countries.
The growing demand for eye care services may highlight the shortage
of ophthalmologists. According to the National Institute on Aging
(NIA), one out of every five Americans, which translates into
approximately 72 million people are estimated to be 65 years or
older, by the year 2030. Hence, the total number of patients
requiring ophthalmic services is projected to rise, which could lead
to a shortage of ophthalmology practitioners in the near future. This
also acts as a restraint to the growth of the global ophthalmic
ultrasound systems market.
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