The Affordable Care Act (ACA) Remains A Major Piece Of Legislation With Effects That Reverberate Across The Entire Ophthalmic Ecosystem
North America has dominated ophthalmic diagnostic equipment market with over 33% value share in 2016 and is expected to remain dominant region throughout the forecast period. Developed nations such as Germany, France, Spain, Singapore and Japan together accounted for nearly 40% revenue share of global ophthalmic diagnostic equipment market. Both the ACA and Medicare wield great influence on patient care and how practices are doing business.
In 2010, as per the World Health Organization (WHO), 285 million are visually impaired people across the globe which included 39 million blind people. Among all eye diseases, nearly 15 million people are affected by cataract out of 39 million blind people in the world. Affordable and easy access for vision correction demand is raising the growth of ophthalmic diagnostic equipment market. Ophthalmic electro-medical equipment including diagnostic and patient monitoring are gaining huge recognition across the globe. Preference of optical coherence tomography (OCT) over fundus camera is projecting a healthy growth for ophthalmic equipment market in the near future. Industry players are also focusing on the development of smart devices to increase health awareness and product value among consumer.
According to Goldstein Research, global ophthalmic diagnostic equipment market is categorized on the basis of lenses and by diagnostic devices. Diagnostic devices are further segmented into fixation devices, auto refractometer, ultra-sound devices, ophthalmoscope, fundus camera, tonometer, optical coherence tomography and optical biometry devices. Optical Coherence Tomography (OCT) devices accounted for largest share of ophthalmic diagnostic equipment market owing to its cost-effectiveness and high accuracy.
“Global Ophthalmic Diagnostic Equipment Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry ophthalmic diagnostic equipment manufacturers, suppliers, and distributors, pharmaceutical companies, cosmetic product manufacturers, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.
Global Ophthalmic Diagnostic Equipment Market Segmentation can be classified on the basis of:
Based on Lenses
- Contact Laser lenses
- Diagnostic Lenses
- Indirect BIO Lenses
- Indirect Surgical Lenses
- Slit Lamp Lenses
Based on Diagnostic Devices
- Fixation Devices
- Auto Refractometer
- Ultra-Sound Device
- Ophthalmoscopes
- Fundus Cameras
- Tonometer
- Optical Coherence Tomography (OCT)
- Optical Biometry Devices
By Geography
- North America (US, Canada) Ophthalmic Diagnostic Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Ophthalmic Diagnostic Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Ophthalmic Diagnostic Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America) Ophthalmic Diagnostic Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Ophthalmic Diagnostic Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
Trend: Medicare Covering Ophthalmic Care
Many ophthalmology practices have higher percentages of patients that are on Medicare as these patients are not supposed to pay substantial deductible like those that purchase certain plans on the exchange. This is one of the undesirable effects of the ACA to buffer against ophthalmologists without a significant out-of-pocket contribution from the patient.
Driver: Constant Technological Advancement In Ophthalmology
Rising digitization is resulting in constant technological advancement in ophthalmology and optometry which plays an important role in the growth of ophthalmic diagnostic equipment market across the globe. Growing health awareness, less painful treatment and quicker eye surgery are key factors accelerating the growth of ophthalmic diagnostic equipment market.
Challenge: Issue With The Longevity Of Ophthalmic Diagnostic Equipment
The ophthalmic device is likely to be replaced if any new device or technology is introduced into the market. This is restraining the adoption of advanced ophthalmic devices in developing nations. High initial cost, lack of awareness and availability of advanced technologies mainly in tropical countries are also hindering the growth of ophthalmic diagnostic equipment market.
“Global Ophthalmic Diagnostic Equipment Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global ophthalmic diagnostic equipment market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.
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