The optical biometry devices market is expected to register a healthy CAGR over the forecast period. The optical biometry devices market size accounted for USD 275.0 million in 2018 and is projected to register a CAGR of 5.6% during the forecast period. Optical biometry, also known as ophthalmic biometry, is a highly accurate, non-invasive automated method for measuring the anatomical characteristics of the eye. This method is used for intraocular lens (IOL) power calculations in clinical practice. Optical biometry using partial coherence interferometry (PCI) has become the gold standard in ocular biometry as it is highly accurate, easy to perform, non-invasive, and comfortable for the patient.
Some of the factors driving the market growth are globally growing geriatric population, increased efficiency of optical biometry over ultrasound A-scans (A-scan ultrasound biometry), increasing awareness about eye care, and rising cataract and refractive surgeries. On 12th October 2017, the World Health Organization (WHO) joined partners around the world for World Sight Day. Its Universal eye health: a global action plan 2014-2019 is launched to raise public awareness of blindness and vision impairment, influence governments to participate in and designate funds for national blindness prevention programs and educate the public about blindness prevention. On the flip side, the high cost of optical biometry devices is anticipated to restrict market growth during the forecast period.
The optical biometry devices market has been segmented into product, end user, and region.
By product, the market has been segmented into swept-source optical coherence tomography (SSOCT)-based biometers, partial coherence interferometry (PCI)-based biometers, and optical low coherence reflectometry (OLCR)-based biometers. The swept-source optical coherence tomography (SSOCT)-based biometers segment dominated the market in 2018 as these are the next generation optical biometry devices especially used in specialized eye centers, hospitals, and ophthalmic clinics.
Based on end user, the market has been classified into hospitals, ophthalmic clinics, and others.
The optical biometry devices market has been segmented on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The optical biometry devices market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.
The European optical biometry devices market has been segmented into Western Europe and Eastern Europe. The Western Europe optical biometry devices market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The optical biometry devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The optical biometry devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Optical Biometry Devices Market Share (%), by Region, 2018
Source: White Papers, Company Presentations, Annual Reports, and MRFR Analysis
Geographically, the Americas held substantial market share in 2018 attributed to the presence of key market players, surging number of cataract and refractive surgeries, growing adoption of optical biometry devices, developed healthcare infrastructure, and changing lifestyle. For instance, according to the American Academy of Ophthalmology (AAO), cataracts affect over 24.4 million Americans aged 40 and older. By age 75, approximately half of all Americans have cataracts presently.
Europe would follow the Americas in terms of optical biometry devices market size throughout the forecast period as the aging population in the region is on the rise, which is increasing the number of cataract procedures. Therefore, new practices will be opened, and existing practices will make investments to expand their capacity necessitating the purchase of biometry equipment. For instance, according to the European Commission (EC), the total population in the European Union (EU) is projected to increase from 511 million in 2016 to 520 million by 2070.
Asia-Pacific would represent the fastest growth for optical biometry devices market owing to the growing elderly population base coupled with surging number of cataract surgeries, increasing awareness about optical biometry, and rising healthcare spending in India, China, Japan, and Australia. According to the Geuder Asia Pacific, India has more than 12 million blind people. Around 50% of blindness is caused by cataract. Ophthalmologists perform more than 700,000 phacoemulsification and 170,000 vitrectomies every year in the country.
The optical biometry devices market in the Middle East & Africa would witness the modest market growth rate from 2019 to 2025. The Middle East would spearhead the market attributed to growth in healthcare sector along with developing healthcare infrastructure in the Gulf Cooperation Council (GCC) countries such as Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar, and Oman.
Optical Biometry Devices Market, by Product
Optical Biometry Devices Market, by End User
Optical Biometry Devices Market, by Region
|Market Size||2025: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Carl Zeiss AG, Bausch & Lomb Incorporated, Haag-Streit AG, NIDEK CO., LTD., Topcon Corporation, Welch Allyn, Inc., Heine Optotechnik GmbH & Co. KG, Tomey Corporation, AMETEK, Inc., Optovue, Incorporated, Leica Microsystems GmbH, and CENTERVUE S.p.A.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Optical biometry, also known as ophthalmic biometry, is a highly accurate, non-invasive automated method for measuring the anatomical characteristics of the eye. This method is used for intraocular lens (IOL) power calculations in clinical practice.
Next-generation optical biometry devices reduce the undetected poor fixations by the optical ultrasound biometry devices. Furthermore, these devices are highly efficient and fast, eliminating manual errors from traditional biometry devices. For instance, Pentacam AXL is used with a single measuring operation. It has a comprehensive biometry for intraocular lens (IOL) database and provides a well-targeted screening process for eyes.
The optical biometry devices market was valued at USD 275million in 2018.
The optical biometry devices market would record a CAGR of 5.6% during the forecast period of 2019 to 2025.
The optical biometry devices market would be dominated by swept-source optical coherence tomography (SSOCT)-based biometers.
The Americas would lead the reading of the optical biometry devices market.
The optical biometry devices market would have the Asia Pacific region as the fastest-growing one.