Ophthalmic Ultrasound Systems Market to Benefit from Rising Number of People Suffering from Eye Disorders, Technological Progress to further Accentuate Demand, TMR

ALBANY, N.Y., March 17, 2021 /PRNewswire/ -- Across the globe, increasing occurrences of eye-related disorders are driving up the demand in the global ophthalmic ultrasound systems market. Eye diseases have emerged as a possible threat to populations in both developing and developed nations. Diabetic retinopathy has been added to the priority list as the occurrence of diabetes has increased exponentially in different countries. Owing to challenges in early diagnosis and the frequent need for life-long therapies, glaucoma, a long-known eye disorder, persists on the public health agenda. According to the World Health Organization (WHO), nearly 1.3 billion people had impaired vision in 2018, with 188.5 million having mild vision problems, 217 million having moderate to extreme eye problems, and 36 million being blind.

Cataracts and uncorrected refractive errors are the major reasons of vision impairment worldwide, and most individuals with impaired vision are over the age of 50 years. According to the World Health Organisation (WHO), chronic eye disorders are the leading cause of vision loss, accompanied by untreated uncorrected refractive errors and cataracts. In countries with low or middle incomes, glaucoma is the leading cause. Worldwide, the burden of eye diseases is increasing, which is a driving force behind the expansion of global ophthalmic ultrasound systems market.

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The global ophthalmic ultrasound systems market was worth around US$ 2.87 billion in 2018 and is expected to rise at a CAGR of 5.1% from 2019 to 2027. The global ophthalmic ultrasound systems market is expected to expand due to the increasing prevalence of ocular disorders and diseases. Furthermore, the market is likely to be driven by a rise in the geriatric population affected by glaucoma during the projected timeframe.

Key Findings of Market Report

• High Prevalence of Eye Disorders Worldwide to Benefit Market Development

The growing prevalence of many eye disorders across the globe has a direct effect on the demand for different ophthalmology platforms, which is likely to facilitate in the expansion of the ophthalmology industry. Glaucoma and cataract are two of the most common eye diseases that severely limit patients' ability to function in their daily lives. As a result of the rise in diseases, health-care costs are increasing, and productivity is slipping. According to the BrightFocus Foundation in the US, more than 3 Mn Americans have glaucoma, with 2.7 million of those affected are aged around 40 years and over. As such, the growth of the market is expected to be fuelled by an increase in the prevalence of ophthalmic diseases.

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Rising pollution has negative effects on the eyes, causing redness, dryness, and obstructing vision. Due to a rise in the number of people suffering from various ophthalmic disorders and diseases, the demand for various ophthalmic devices and equipment has increased, propelling the expansion of the global ophthalmic ultrasound system market. To meet these needs, a number of major participants are strongly involved in the research and development activities pertaining to current ophthalmic ultrasound devices as well as the introduction of innovative ophthalmic ultrasound products, thereby benefiting the market in the near future.

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• Advent and Integration of Sophisticated Technologies to Accentuate Demand of these Systems

With the introduction of minimally invasive surgeries, new technical platforms have started including improved imaging reliability, precision, protection, and reduced post-operative discomfort. To meet the needs and demands of patients, many companies are significantly investing in the manufacturing of novel surgical and diagnostic platforms.  As a result, many ophthalmology devices, including ophthalmic ultrasound system, rise in popularity and acceptance, propelling the market forward.

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Ophthalmic Ultrasound Systems Market: Growth Drivers

• High prevalence of many eye disorders is increasing at a steady rate in the ophthalmology field, which has resulted in a direct impact on demand for various ophthalmology platforms.
• To meet the needs and demands of patients, many manufacturing companies are making significant investments in the development of novel surgical and diagnostic platforms. As a result, many ophthalmology devices rise in popularity and acceptance, propelling the ophthalmic ultrasound system market forward.

Global Ophthalmic Ultrasound Systems Market: Key Competitors

• Micro Medical Devices, Inc.
• Carl Zeiss Meditec AG
• Ellex Medical Lasers Ltd
• Optos plc (Nikon Corporation)
• Escalon Medical Corp
• Nidek Co., Ltd.

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