Optical Biometry Devices Market Research Report: Information by Product [Swept-Source Optical Coherence Tomography (SSOCT)-Based Biometers, Partial Coherence Interferometry (PCI)-Based Biometers, Optical Low Coherence Reflectometry (OLCR)-Based Biometers], End User (Hospitals, Ophthalmic Clinics, Others) and Region – Forecast till 2025
Optical Biometry Devices Market – Geographical Analysis
North America is expected to retain its leading position in the Global Optical Biometry Devices Market throughout the forecast period. The region witnessed the growing adoption of optical biometry devices led by the rising investments in the field developed healthcare infrastructure and high expenditures for eye-care. Increasing prevalence of eye-vision problems and other diseases & disorders related to eyesight that can lead to visual impairments are driving the market growth in the region.
Additionally, a large pool of diabetic patient population and augmenting demand for diabetic retinopathy substantiate the regional market growth. Moreover, factors such as the rising vision problems in increasing middle-age populaces and youngsters led by the malnutrition and lifestyle support the regional market growth. Furthermore, the presence of the leading players, alongside their expansion strategies and increasing product launches, acts as a dominant driving force for the growth of the optical biometry devices market in North America
The European optical biometry devices market stands second, globally. Factors boosting the regional market growth include rising rates of eyesight disorders & other eye diseases and the growing number of the middle-aged population. Also, factors such as the increase in R&D activities, and new product approvals are fuelling market growth. Moreover, the increased focus of key players for business expansion in the region and the well-spread awareness about the eye-care is driving the market growth in Europe.
Additionally, the presence of well-established healthcare sectors alongside the increasing per-capita eye-care expenses propelling the growth of the optical biometry devices market in the European region. Furthermore, increasing demand for better eye-care infrastructure, led by the rising prevalence of diabetes and tremendous government support, foster the regional market growth.
The optical biometry devices market in the Asia Pacific region has emerged as a lucrative market, witnessing growing funding support from the private and public sectors. Factors like growing incidences of ocular diseases and eyesight issues in populated and rapidly developing India and China drive the market growth in the region.
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According to Market Research Future (MRFR), the optical biometry devices market is continually witnessing exponential growth on a global platform. In its recent study report, MRFR asserts that the valuation of the global optical biometry devices market had reached to USD 275.0 MN in 2018, which would further appreciate at 5.6% CAGR over the forecast period (2019 – 2025). Increased efficiency of optical biometry over ultrasound A-scans (A-scan ultrasound biometry) is a key growth driver for the market.
Additional factors such as the ongoing product development & commercialization led by the favorable reimbursement policies and increasing numbers of approvals from regulatory bodies are boosting the market growth. Moreover, increasing the adoption of optical biometry devices, growing awareness about eye care, and rising cataract and refractive surgeries are fostering the growth of the market.
On the flip side, prohibitively high cost of these optical biometry devices is a major factor projected to inhibit the market growth over the review period. However, efforts & investments of key market players to drive R&D activities would support the growth of the market, bringing about cost-effective solutions.
Optical Biometry Devices Market – Segments
MRFR has segmented the report into three main dynamics to widen the scope of understanding,
By Product : Swept-Source Optical Coherence Tomography-based Biometers (SSOCT-based), Partial Coherence Interferometry-based Biometers(PCI-based), and Optical Low Coherence Reflectometry-based Biometers(OLCR-based).
By End-user : Hospitals, Ophthalmic Clinics, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Optical Biometry Devices Market – Competitive Analysis
The optical biometry devices market appears to be fiercely competitive and fragmented with several well-established players forming a competitive landscape. To gain a larger market share, players adopt strategic approaches such as mergers & acquisitions, collaborations, expansion, and new technologies/product launches. High growth opportunities demonstrated by the market attract several new entrants, which further intensifies the market competition. Players also make substantial investments in R&D to develop advanced technologies and devices with unique features.
Players leading the global optical biometry devices market are Haag-Streit AG, Carl Zeiss AG, Topcon Corporation, Welch Allyn, Inc., NIDEK Co., Ltd., Heine Optotechnik GmbH & Co. KG, AMETEK, Inc., Tomey Corporation, Optovue, Bausch & Lomb Incorporated, Incorporated, Leica Microsystems GmbH, and CENTERVUE SpA, among others.
November 25, 2019 — Birmingham Optical Group Ltd. (the UK, a leading supplier of optical instruments, machines, and consumables, announced that it would launch its new optical biometry device – Oculus Myopia Master at the UK’s largest Optical trade show – 100% Optical 2020, to be held between January 25-27th 2020. The new device incorporates autorefraction, keratometry, optical biometry for axial length, and in-built myopia questionnaires.
The company also mentioned that it would showcase Nidek’s newly launched Mirante OCT device, which combines ultra-widefield color imaging with ultra-widefield OCT.
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