NEW YORK, March 1, 2021 /PRNewswire/ -- The global ophthalmic loupes market is estimated to cross USD 669.2 million by 2027 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 6.9% from 2020 – 2027. Increasing incidences of eye diseases such as refractive, cataract, and glaucoma disorders are the major driving factor for the market growth. A rise in the use of ophthalmic loupes for dental procedures and surgeries owing to its potential to provide higher magnification, especially in developing countries fosters the growth for the market. Several companies are working continuously to produce sophisticated ophthalmic loupes, which help to optimize magnification, which in turn, creating new growth avenues for market players. These loupes are considered an ideal alternative for operating microscopes and also enable ophthalmologists to conduct effective research on eye diseases while conducting the surgery.
Key Trends and Developments inOphthalmic Loupes Market
By type insights, the Galilean type segment dominated the ophthalmic loupes market, on account of its key characteristics such as simple, lightweight, adaptable, and affordable option for dental surgical procedures.
Based on design type, Through-the-lens (TTL) segment accounted for the largest revenue share, owing to their wide application in various settings. It is possible to customize these loupes as user requirements, provides a wide field of view, and is light-weight to use.
In terms of end-use, the hospital segment held the major market share due to increasing incidences of eye-related diseases, the introduction of the latest minimally invasive surgeries, and favorable reimbursement policies.
The increasing prevalence of sleep disorders is turning out as a major booster for the global market of ophthalmic loupes. As per the reports of the World Health Organization, by the end of 2020, over 1 billion people had vision impairment across the globe.
North America is one of the leading markets for ophthalmic loupes contributing the major revenue share. The regional growth is attributed to increasing private-public investments in R&D activities and the presence of several key players involved in major market developments. Additionally, innovative marketing strategies devised by market players to promote their products also boosting the regional market growth. In the Asia Pacific, the domestic market is expected to exhibit substantial growth owing to the introduction of technologically advanced ophthalmic loupes and growing awareness regarding the usage of these loupes.
Owing to the offerings of a wide range of products, several players hold a dominant market position. For bringing technological advancements, market players are involved in in-depth R&D activities along with strategic collaborations in the form of acquisitions and partnerships. Key players present in the global ophthalmic loupes market include Rudolf Riester GmbH, SurgiTel, Orascoptic, Keeler, Univet S.r.l, SHEERVISION, ZEISS, etc.
Supply-side: Medical Equipment Manufacturer and Supplier
*Note: Additional companies can be included on request
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