Global Ophthalmic Telemedicine Market to grow at a CAGR of 10.5% during 2022 - 2030

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PUNE, India, March 8, 2022 /PRNewswire/ -- According to the newly published report by Absolute Markets Insights, the global ophthalmic telemedicine market is anticipated to register a CAGR of 10.5% over the period of next eight years (2022 – 2030). Increasing investments towards the adoption of advanced technological solutions along with simultaneous advancement of healthcare infrastructure in developing economies exhibits prospective growth opportunities for global ophthalmic telemedicine market to accelerate over the forecast period.

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Global Ophthalmic Telemedicine Market Overview

Telemedicine is the delivery of healthcare-related services over the internet, and it has the potential to shift healthcare away from the doctor's office and back into the patient's house. Ophthalmology is typically at the forefront of medical technological breakthroughs, such as telemedicine and the use of artificial intelligence. Several studies have shown the reliability of tele-ophthalmology for screening and diagnoses, as well as the benefits to patients, clinicians, and payers. Telemedicine has emerged as a potential method for the assessment of specialised evidence-based approach, which can be offered in a cost-effective manner, especially in underprivileged and remote populations, as a result of the growing demand for more accessible, financially affordable, and effective health-care services.

Covid-19 has changed the working systems for healthcare sectors. Telemedicine and tele-ophthalmology have been around for a long time, but they have recently garnered more prominence in the current pandemic situation. Physicians are striving to preserve their own and their patients' health by delivering safe, timely and effective health care. Patients with COVID-19, for example, who required lengthy isolation until they recovered, telemedicine proved to be a useful solution. In this tough clinical situation, incorporation of telemedicine into daily workflow as valuable tool for the diagnosis and treatment of acute and chronic ocular disorders has proven to be advantageous. Huge population adopted telemedicine to curb the spread of virus, which has boosted the ophthalmic telemedicine market globally.

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Extensive information on the following pointers will be covered in the 420+ Pages Research study:

• Global Market size and forecast values (2015 – 2030), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2020 has been considered as historic years, 2021 as the base year, while 2022 to 2030 has been considered as the forecast period.
• Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
• Market determinants and Influencing Factors
• Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
• Business and Technological Trends
• Regulatory Landscape
• Exclusive Insights on Covid-19 on Global Ophthalmic Telemedicine Market
• Macro-Economic and Micro-Economic Indicators
• Porter's Five Forces Analysis
• Competitive Analysis
  • Global Presence and Growth Strategies
  • Market Share Analysis, 2020
• Detailed profiles of major market participants operating in the market, encompassing information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
• Region specific reports focusing on North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available
• We have reports available in different languages including Russian, Arabic, Japanese, Spanish, Chinese, French, German, Korean and other languages.

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Market Segmentation

By Component

In the last few years, due to the advancements in technologies such as artificial intelligence, Internet of Things and machine learning there has been an increased demand for ophthalmic diagnosis and monitoring devices for greater efficiency, accuracy and monitoring. Moreover the growth of geriatric patient population, which is affected by a variety of eye-related disorders and hence requires surgery, will accelerate the adoption of ophthalmic equipment. Blindness, vision impairments, and other ocular illnesses such as cataracts, diabetic retinopathy, glaucoma, and macular degeneration are all common in older people. The deployment of some of the most cutting-edge technologies as well as outpatient facilities, is fostering to increase ophthalmic devices availability globally. Moreover major players in the market are launching various devices and products for ophthalmic telemedicine. For instance, in June 2020, Healio introduced a portable e-device which enables the patients with at-home eye monitoring. Such advancements are thus boosting the growth of global ophthalmic telemedicine market.

By Therapeutic Indication

Diabetic retinopathy (DR) is an eye disease that can result in vision loss and blindness in patients with diabetics. It affects the retina's blood vessels. DR is a prominent cause of blindness worldwide, particularly among the working-age population of affluent countries. In the assessment of diabetic retinopathy (DR), telemedicine is becoming increasingly important, especially for patients who live in remote locations. Telemedicine is helping people who don't have convenient access to an ophthalmologist get a diabetic retinopathy evaluation. In general, telemedicine employing digital imaging has a high diagnosis accuracy in DR. It can be used to screen for DR in a variety of situations.

By Application

Ophthalmic telemedicine for vision testing is gaining popularity as it offers all the procedures which can be carried out through standard web based browser. Telemedicine is a very efficient and cost-effective approach to test eyesight, renew corrective lens prescriptions and obtain contacts rapidly in the field of eyecare in particular. During the pandemic the ophthalmic telemedicine has gained huge importance as there was a need to maintain the distance between the patient and the doctor, which led to remote monitoring arrangements and treatments. For instance, many healthcare services in the United States have transitioned to telemedicine models in recent decades, not just to make care more accessible and easy for patients, but also to save money for everyone involved.

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By End User

Ophthalmology clinics are investing heavily in telemedicine as there has been a huge shift in ophthalmology treatments. The attitude of large number of patients and doctors towards adopting telemedicine in ophthalmology has changed drastically due to incorporation of innovative technologies and processes for easier consultation and treatments. Moreover patients with age-related macular degeneration, glaucoma, and diabetic retinopathy are preferring for home care monitoring and treatments, which has led to a growth in the global ophthalmic telemedicine market.

By Region

Asia Pacific is anticipated to witness fastest growth in the global ophthalmic telemedicine market over the forecast period. In the recent years, technological advancements have led to the invention and application of many modalities and procedures that allow medical practitioners to diagnose and treat a variety of medical issues remotely across different medical professions, including ophthalmology. Moreover Asia-Pacific region, is most populous continent with a rapidly ageing population, which is afflicted by a variety of vision problems. Major players in the market are looking forward to develop innovative technologies for telemedicine in ophthalmology to provide the healthcare professionals and patients the advantages of real time remote monitoring and treatments. Thus, with these advancements Asia pacific is estimated to experience a considerable growth in the upcoming years.

Key Players

Some of the players operating in the global ophthalmic telemedicine market are:

• Capri Healthcare
• Care1 Telemedicine
• Doxy.me Inc.
• EyecareLive, Inc
• EyePACS, Inc.
• Forus Health Pvt Ltd
• Pulse Telemedicine Technologies
• Secure Diagnostic Imaging Ltd.
• Smart Vision Labs
• Spect Inc.
• ZEISS International
• Other Market Participants

Global Ophthalmic Telemedicine Market:

• By Component
  • Hardware
  • Platform/Solutions
  • Services
• By Therapeutic Indication
  • Diabetic Retinopathy
  • Glaucoma 
  • Age-Related Macular Degeneration
  • Retinopathy of Prematurity (ROP)
  • Others
• By Application
  • Vision Testing
  • Diagnosis and Consultation
  • Education and Training
  • Others
• By End Users
  • Hospitals
  • Ophthalmology Clinics
  • Others
• By Region
  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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