The global ophthalmic diagnostic equipment market is poised to reach $3.8 billion in manufacturer revenues by 2020, growing at a compounded annual growth rate (CAGR) of 4.3 percent over the next five years. 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 650 ophthalmic diagnostic products are available to optometrists, ophthalmologists, and hospitals worldwide.
Ophthalmic diagnostic equipment is used to diagnose and monitor ophthalmic diseases and disorders that range from refractive errors to vision-threatening retinal neurodegenerations. These ophthalmic conditions can be grouped in the following categories: retinal diseases and disorders, glaucoma, cataracts, refractive errors, and other diseases and conditions.
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 33.3 percent of global diagnostic revenues. Western Europe, Japan, and countries we group in an Other Wealthy Nations category account for an additional 43.7 percent of revenues. We expect demand for diagnostic instruments to grow significantly faster in the developing markets of China and India. However, these regions represent a small share of the market, and growth will be from a small base.
Market Scope estimates that there are more than 75 ophthalmic diagnostic equipment manufacturers worldwide. Despite the large number of participants, nine companies account for more than 68 percent of global revenues: Carl Zeiss Meditec, Topcon, Nidek, Optos, Heidelberg, Haag-Streit, Reichert, Optovue, and Alcon. Combined, their estimated revenues for 2015 are expected to total $2.1 billion.
Market Scope published its 2015 Comprehensive Report on the Ophthalmic Diagnostic Equipment Market in December 2015. It remains the only source for accurate and relevant information on all aspects of the market. 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. This report includes market data for 2014, and we forecast market performance through 2020. Our forecast also subdivides the cataract equipment market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.