The global ophthalmic diagnostic equipment market is expected to reach $4 billion in manufacturer revenues by 2022, growing at a compounded annual growth rate (CAGR) of 4 percent over the next five years. Much of this growth is expected to come from increasing demand for the latest technology, including optical coherence tomography (OCT), operating room microscopes, fundus cameras, and clinical data management systems. Additional factors contributing to this growth include a rising global population and expanding elderly population segment, advances in treatment and earlier disease diagnosis, and improvements in access to advanced eye care in developing countries.
More than 560 ophthalmic diagnostic products, ranging from small hand-held devices to large desktop units with multiple peripheral options, are available to optometrists, ophthalmologists, and hospitals worldwide.
The US is the largest market for ophthalmic diagnostic equipment with more ophthalmic procedures, higher per capita health expenditures, and better access to advanced eye care. It accounts for approximately 32.3 percent of global diagnostic revenues. Western Europe, Japan, and countries we group in an Other Wealthy Nations category account for an additional 43 percent of revenues. We anticipate faster growth during the next five years in China, India, and other emerging markets that will somewhat reduce the US market share of overall revenues. Growth in these emerging markets will be due largely to expansion of advanced eye care services resulting from demand from a growing middle class, and general expansion of medical systems to address a largely underserved population.
Market Scope estimates that there are more than 90 ophthalmic diagnostic equipment manufacturers worldwide. Despite the large number of participants, nine companies account for more than 73 percent of global revenues: Carl Zeiss Meditec, Topcon, Nidek, Heidelberg, Optos, Haag-Streit, Reichert, Optovue, and Alcon. Combined, their estimated revenues for 2017 are expected to total nearly $1.9 billion.
Market Scope published its 2017 Ophthalmic Diagnostic Equipment Report: A Global Market Analysis for 2016 to 2022 in April 2017. We discuss eye care providers throughout the world and the relationship between ophthalmologists and optometrists. We examine factors shaping the market and identify trends. We also forecast product demand in units and dollars, and we analyze market shares by product category. Our category breakout for diagnostic technologies includes corneal topographers, various microscopes, anterior eye scanners, biometry systems, tonometers, fundus cameras, perimeters, refractors, and slit lamps. We discuss pricing, competitor market share, the installed equipment base, and emerging technologies in each of these categories.