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Ophthalmic Imaging Equipment Market by Product (Retina and Glaucoma Examination Products, General Eye Examination Products and Ophthalmic Examination Chairs)
The global revenue from the Ophthalmic Imaging Equipment Market was around US$ 2.04 Billion in 2022, with the global market expected to grow at a CAGR of 4.9% to reach a valuation of around US$ 3.5 Billion by the end of 2033.
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Market Size (2023) |
US$ 2.15 Billion |
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Projected Market Value (2033) |
US$ 3.5 Billion |
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Global Market Growth Rate (2023 to 2033) |
4.9% CAGR |
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Market Share of Top 5 Countries |
56.6% |
As assessed by Persistence Market Research, general eye examination product segment held a market share of around 43.8% in the global market, in 2022. Overall, ophthalmic imaging equipment market sales account for around 5.5% of revenue share in the global diagnostic imaging devices market, which was valued at around US$ 37 Billion in 2022.
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The global market recorded a historic CAGR of 3.6% in the last 5 years from 2015 to 2022.
Companies in the global market for ophthalmic imaging equipment are constantly engaging in mergers and acquisitions as the sector enters its boom phase due to ongoing technological advancements.
Market participants focus more on partnerships and acquisitions with local and regional players to increase sales and after-sales services. Over the projected term, significant demand for modern ophthalmic imaging equipment and sales is anticipated as a fantastic result.
The manufacturers are concentrating on the growth of their product line-up in the ophthalmic imaging equipment market to reach their target market. The shift from a volume-based to a value-based system is largely the result of the numerous activities carried out by providers, governments, biotechnology firms, and insurance payers. The product's selling may be impacted by a variety of measures, including pricing, risk sharing, competitive tendering, outcome-based earnings, and price control.
Optometrist is equipped with the advanced technologies to diagnose, evaluate, and manage any globe, which is going to favour market sales. The companies are also adapting the use to advanced technology in optical coherence tomography (OCT), fundus cameras, and ophthalmic viscoelastic devices (OVD) which leads to increase in sales of the ophthalmic imaging equipment market.
The global market is likely to show high growth over the coming years at a CAGR of 4.9% and reach a global market size of US$ 3.5 Billion by 2033.
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A significant public health concern is the rise in the number of elderly people, which is leading to an increase in the number of patients with serious eye conditions and vision loss in the optometry market. Diabetes increases the risk of visual deterioration in the elderly population, which may be a significant factor driving the market for ophthalmic imaging equipment.
The likelihood of vision loss among the elderly population is rising due to the frequency of serious eye diseases such macular degeneration, glaucoma, diabetic retinopathy, and cataract. The most prevalent form of vision impairment among the elderly population nowadays is a cataract.
One of the main factors that will fuel demand for optometry devices is the rising prevalence of diabetes. The group of disorders known as diabetic eye disease, which includes diabetic macular edoema, diabetic retinopathy, glaucoma, and cataract, is to blame for vision loss.
Eye conditions are also becoming more common, especially in young children. The eye diseases are rising as a result of excessive computer and mobile phone use, which is again adding significantly to the growth of ophthalmic imaging equipment market globally. The recent developments and usage of advanced technology have enabled the early diagnosis of eye disease with the help of optometry devices.
Increasing healthcare expenditure is an important factor that is encouraging people to opt for optometry tests. The availability of technologies advanced products is another key factor that is driving market technological advancements in ophthalmic imaging equipment market. Regulatory organizations and governments worldwide, particularly in developed economies, to lessen the burden of healthcare expenditure, are adopting numerous cost-containment strategies.
The amount of cataract diagnoses being made worldwide is anticipated to fuel the market for ophthalmic imaging equipment.
“Ineffectiveness of ophthalmic tests can hamper market growth”
The ophthalmologist doing the screening, the kind of training given to the person running the screener, and the method used for the optometry test can all affect the findings returned from the test.
The different rules for optometry examinations can also be blamed for variations in visual acuity screenings. The less effective optometry test results tend to result in fewer people choosing the profession, which restrains the market's total growth.
Children who have reading issues, such as hyperopia or astigmatism, cannot undergo optometrist testing.
It is thus anticipated that fewer parents would choose to have their children undergo eye exams due to the ineffectiveness of vision screening devices. A number of optometry exams only measure the ability to see clearly in the distance and do not reveal how well the eyes cooperate to focus on nearby things. The optometry exams don't reveal anything about eye health, their demand may decline, which would impede market expansion.
The variable results among optometry devices and ineffectiveness of ophthalmic tests can also hamper market growth.
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Why is the United States Market Booming?
The United States accounted for around 31.1% market share in the global market in 2022.
In the U.S., the reimbursement procedure is based on the healthcare plan for each patient. Managed care plans often offer its members a full range of medical treatments, and they also provide financial incentives to encourage patients to visit the physicians who are part of the plan.
The Specific healthcare plans' coverage varies effectively. Medical costs for disease, injury, vision, dentistry, preventative care, and prescription medications are all covered by health insurance. The health insurance shields them from expensive and/or unforeseen medical costs.
Private health insurance encompasses coverage obtained directly from an insurance provider or through an exchange as well as coverage obtained through an employer, union, or other group purchasing arrangement.
The government funding for the development of novel technologies, are some of the causes driving the global market within the U.S.
Will the Germany Be a Lucrative Market for Ophthalmic Imaging Equipment?
The Germany market held around 7.5% market share of the global market in 2022.
A large number of European nations cover the cost of clinical intervention when all necessary items are used. The price of the product is negotiated between the hospital and the relevant medical device company.
In Germany the patient registries that are effectively established and formalised are becoming more common in the area, which may improve patient diagnosis and increase access to therapies. Such improvement and adaptation leads to the market growth in the country.
How is China Emerging as a Prominent Market?
China held a market share of about 7.4% of the global market in 2022.
China has had an exceptional rise in its reputation for producing ophthalmic imaging equipment.
The Ministry of Labor and Social Security is largely responsible for overseeing drug pricing and reimbursement (MOLSS). The public health insurance programme makes a distinction between health insurance for urban and rural areas. The Urban Employee Basic Medical Insurance Program (UEBMI) and the Urban Resident Basic Medical Insurance Program provide coverage for urban inhabitants (URBMI). The New Cooperative Medical Scheme provides coverage to rural residents (NCMS).
Due to such prominent steps, the government of China is also spreading awareness among the people to capture the target audience and market, which lead to the growth of the ophthalmic imaging equipment market in China.
The China Insurance Regulatory Commission oversees private health insurance, which lowers out- of- pocket (OOP) costs and provides access to private clinics.
Which Product is Driving Demand within the Global Market?
The retina and glaucoma examination product segment held around 42.6% share of the total market in 2022.
The rising frequency of digital eye strain, the retina and glaucoma examination product market size are anticipated to increase primarily throughout the forecast period. This category contains tools used to examine the eyes that enable for the study or treatment of various eye disorders.
Which End User Propels the Global Sales in the Market?
The hospital segment held a share of about 40.5% in 2022, within the global market.
Hospital segments with ophthalmology clinics are anticipated to make a significant contribution to the expansion of the market for ophthalmic imaging equipment.
The likelihood of vision loss among the elderly population is increasing because of the frequency of eye-related disorders such macular degeneration and glaucoma. Such patients undergo eye diagnosis under a trained optometrist to detect in visions, signs of injury, ocular diseases, which is driving the demand for the hospitals. There are a growing number of multi-specialist ophthalmology clinics and hospitals that offer eye examinations for the ageing eye. Such increasing number of optometry hospitals and clinics are being set up in various countries across the globe.
Companies in the industry are placing a strong emphasis on providing a wide range of ophthalmic clinics and on their involvement in the development of new technology. The market participants place more focus on partnerships and acquisitions with local and regional players.
They are expanding their presence and product availability on a global basis through collaborations and acquisitions with regional players and third-party service providers, and this is expected to drive the growth of the ophthalmic imaging equipment market.
Some key instances of development include:
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2015 to 2022 |
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Market Analysis |
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Key Market Segments Covered |
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Key Companies Covered |
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Report Coverage |
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Customization & Pricing |
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The global ophthalmic imaging equipment market is currently valued at around US$ 2.04 Billion in 2022.
Sales forecast of the ophthalmic imaging equipment market are set to witness growth at a CAGR of 4.9% and be valued at around US$ 3.5 Billion by 2033.
Demand for the global ophthalmic imaging equipment market increased at a 3.6% CAGR from 2015 to 2022.
The U.S., China, Germany, the U.K., and France account for most demand within the market, currently holding around 56.6% market share.
The U.S. accounts for around 31.1% share of the global market in 2022.
Germany accounts for around 7.5% share of the global ophthalmic imaging equipment market in 2022.
The China market held a share of about 7.4% in the global ophthalmic imaging equipment market in 2022.
The U.K ophthalmic imaging equipment market held a share of about 5.7% in the global market in 2022.
The North America share for ophthalmic imaging equipment market is expected to be 34.4% in 2023.
The ophthalmic imaging equipment market in Europe is set to expand at 28.2% globally over the forecast period.
