Ophthalmoscopes Market Size, Share & Trends Analysis Report By Type (Direct, Indirect), By Application (Diabetic Retinopathy, Macular Degeneration, Retinal Repair, Glaucoma), By End-use (Hospitals), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global ophthalmoscopes market size was valued at USD 245.2 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. The key factors driving the market are the growing geriatric population, increasing prevalence of eye diseases, and advancements in technology. For instance, according to a WHO report published in 2022, 2.2 billion people are suffering from near or distant vision impairment globally. The leading cause of vision impairment is age-related macular degeneration, glaucoma, and diabetic retinopathy. The prevalence of age-related macular degeneration (8.0 million), glaucoma (7.7 million), and diabetic retinopathy (3.9 million).

The prevalence of eye conditions, such as cataract, glaucoma, age related macular degeneration and diabetic retinopathy are the major reasons for visual impairment & blindness around the globe. Visual impairment is a national and global health concern that has a negative impact on physical & mental health of the people and economic health of a country. Increase in older population results in rise in the number of people with visual impairment and blindness. In addition, change in lifestyle has also resulted in the increased incidence various diseases that cause visual impairment, such as diabetes & hypertension.

The increasing launch of technologically advanced products that offer better efficiency to the eye as compared to conventional devices is increasing the sales of ophthalmoscopes, which are driving the growth of the market. The rapidly aging population and growing incidence of ophthalmic diseases are expected to enhance market growth. The large number of ophthalmic procedures being performed has further enhanced the demand for these devices.

The development of portable and digital ophthalmoscopes has increased the accuracy and accessibility of eye examinations. Technological advancements have also made ophthalmoscopes more user-friendly and easier to use, which is estimated to contribute towards market growth. Furthermore, a growing population base and increasing healthcare spending in emerging markets are contributing to the growth of the ophthalmoscope market.

Type Insights

Direct ophthalmoscopes dominated the market for ophthalmoscopes market and accounted for the largest revenue share of 63.6% in 2022. These are commonly used in routine eye examinations to check for signs of diseases or injury. They are particularly used for examining the optic disc, retina, and other structures at the back of the eye. These devices are easy to use and provide a relatively clear view. Direct type of are majorly used by eye care professionals such as optometrists, ophthalmologists, and general medical practitioners to examine the inside of the eye. Increasing usage of direct ophthalmoscopes is anticipated to foster segment growth.

Indirect ophthalmoscopes are anticipated to register lucrative growth during the forecast period. Increasing geriatric population base and rising incidence of age-related eye conditions are the primary key factors that would increase the demand for diagnostic tools such as indirect ophthalmoscopes. Moreover, advancements in technology would lead to improvements in the functionality & design of indirect ophthalmoscopes, which will make them more effective for the examination of eye. The indirect type provides a wider and more panoramic view of the retina. It is especially used for detecting conditions such as tumors, retinal detachments, and other peripheral retinal diseases.

Application Insights

Based on the application, glaucoma dominated the market for ophthalmoscopes market and accounted for the largest revenue share of 31.8% in 2022. Glaucoma is a leading cause of blindness in the U.S. and the world. For instance, according to an article published by bright focus foundation in 2022, it is estimated that 3.0 million people in the U.S. have glaucoma, and among them, 2.7 million are people age 40 or older. There are 80 million people affected by glaucoma globally and it is expected to increase by 111 million by 2040. Open angle is the most common form of glaucoma that affects approximately 95% of people. Ophthalmoscopes play an important role in the diagnosis and management of glaucoma for accurate & effective monitoring of condition & preservation of vision.

Diabetic retinopathy (DR) is anticipated to register the fastest CAGR of 7.4% during the forecast period. It is the most common effect of diabetes mellitus (DM) and the main cause of blindness in adults aged 20 to 74. The risk of developing DR has increased as a result of global factors. They include the increasingly aging global population, an increase in the lifespan of people with diabetes, and changes in lifestyle that raise the risk for the disease. For instance, according to an article published by NIH, in 2020 the number of adults with diabetic retinopathy globally is 103.12 million. According to the same study the prevalence of DR was highest in Africa (35.90%) and North American and the Caribbean (33.30%) and was lowest in South and Central America (13.37%).

End-use Insights

The hospitals segment dominated the market for the ophthalmoscopes market and accounted for the largest market share of 43.7% in 2022. The higher patient volume and variety of conditions, such as routine check-ups to emergency situations, are the key factors driving the growth of the segment. Additionally, they also use ophthalmoscopes as part of their educational programs, to train medical residents and students in ophthalmology. In addition, hospitals have more resources available to them, including equipment, funding and staff.

Ophthalmic clinics are anticipated to register the fastest CAGR growth of 7.2% during the forecast period. Ophthalmoscopes are essential tools used in ophthalmic clinics that allow effective & accurate diagnosis & treatment of a variety of eye conditions. Some common eye conditions that are diagnosed and treated by the clinics include glaucoma, macular degeneration, diabetic retinopathy, etc. These clinics are typically staffed by ophthalmologists, optometrists, and other healthcare professionals.

Regional Insights

North America dominated the ophthalmoscopes market and accounted for the largest revenue share of 32.3% in 2022. The increasing prevalence of eye diseases & disorders, such as diabetic retinopathy, age-related macular degeneration, and glaucoma, which require regular eye exams and monitoring, are the primary factors driving the growth of the ophthalmoscopes market. For instance, according to an article published by the brain focus foundation in March 2023, approximately 20 million adults in the U.S. are suffering from age-related macular degeneration (AMD). In 2019, it is also estimated that 1.49 million people had late-stage AMD, and 18 million people of age 40 and older are suffering with early-stage AMD.

Asia Pacific is anticipated to register the fastest CAGR growth of 7.3% during the forecast period. The increasing demand for advanced ophthalmic diagnostic tools such as ophthalmoscopes, the growing healthcare infrastructure, rising geriatric population are the key driving factors contributing to the growth of the ophthalmoscopes market. Japan, China, India, Australia & South Korea are the major countries for ophthalmoscopes in the Asia Pacific.

Key Companies & Market Share Insights

Key market players are undertaking various strategic initiatives such as the signing of the new partnership agreement, collaborations, mergers and acquisitions, and geographic expansion, aiming to strengthen their services, thus providing a competitive advantage. For instance, in 2021, the Hill-Rom Company introduced the Welch Allyn PanOptic plus Ophthalmoscope, which boasts a 20X bigger viewing area. Some prominent players in the global ophthalmoscopes market are:

• Welch Allyn

• Keeler Ltd.co

• Zumax medical co. ltd

• Albert Waeschle

• Neitz Instruments Co., Ltd.

• US Ophthalmic

• Heine USA Ltd

• HONSUN Group

• Rudolf Riester GmbH

• Dino-Lite Europe

• Iridex Corporation

 Ophthalmoscopes Market Report Scope

Global Ophthalmoscopes Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the ophthalmoscope market report based on type, application, end-use, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Direct

  • Indirect

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Diabetic Retinopathy

  • Macular Degeneration

  • Retinal Repair

  • Glaucoma

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Ophthalmic Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.                

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait