Next generation optical biometry devices market may grow to $450 million by 2028

Monday, December 3, 2018

by Swapna Supekar

Increasing incidence of eye diseases such as cataract and refractive errors coupled with rising number of eye care clinics and hospitals globally are factors increasing the adoption of next generation optical biometry devices. With the advancement in the technology, next generation optical biometry devices have been developed aiding measurement of eyes before cataract and refractive surgeries. Earlier measurement by ultrasound technique was gold standard. However, unlike next generation optical biometry devices, ultrasound devices require direct contact of the probe, which lead to many eye infections.

OBD

The next generation optical biometry devices are automated and measure many parameters such as the axial length, anterior chamber depth, thickness of the lens, retinal thickness, pupil size and many more. The next generation optical biometry devices are an accurate alternative for the precise measurements and provide efficient results. Also the next generation optical biometry devices avoid the operator variations measurements. Research indicates next generation optical biometry devices market is anticipated to account for revenues over $450 million by 2028. The report on next generation optical biometry devices projects market revenues to expand at a CAGR of 5.1% through 2028.

According to Prevent Blindness organization, about 25 million Americans having cataract require medical care every year in the US, hence boosting demand for next generation optical biometry devices. Similar rising demand for next generation optical biometry devices is noted in the UK with rising number of cataract surgeries. Increased demand for next generation optical biometry devices is noted in developing markets concurrent with access to eye care facilities. Next generation optical biometry devices are all-in-one devices used for evaluation of lens and refraction of retina.

Next Generation Optical Biometry Devices Market: Overview & Analysis

Rapid increase in the number of probe infections due to usage of ultrasound devices lead to post-operative errors fuelling demand for next generation optical biometry devices instead of ultrasound biometry devices. Manufacturers of next generation optical biometry devices are introducing automated devices, which are more efficient in measuring segments of eyes. Players in next generation optical biometry devices market are working on strengthening the software, which could provide detailed information about eye segments. New next generation optical biometry devices introduced are taking into account irregularities and astigmatisms of the anterior and the posterior surfaces of the eye. The next generation optical biometry devices use a partially coherent wave that has approximately 9x the resolution of a 10 MHz sound wave, for precise measurement of axial length.

The hospital end users segment accounts for 41.8% revenue share in the global next generation optical biometry devices market. Medical services and vision benefits offered under Medicare includes cataract surgeries; which will increase the demand of next generation optical biometry devices.

Increasing geriatric population and rising income in Japan is expected to surge the demand for more advanced next generation optical biometry devices. The next generation optical biometry devices market in Japan is estimated to create opportunity worth $1.21 million between 2017 and 2028.

The global next generation optical biometry devices market has been segmented into product type and end users. In terms of revenue, the swept source segment in product type in next generation optical biometry devices market report will account for significant revenue share over the forecast period. In contrary, the partial coherence interferometry (PCI) based next generation optical biometry devices segment in all the markets will exhibit limited investment opportunities through 2028 in next generation optical biometry devices market.

Some of the key players in the next generation optical biometry devices market are Carl Zeiss, Nidek, Haag-Streit (Metall Zug), Ziemer Ophthalmic Systems, Optovue, Topcon, Tomey, Movu (a unit of Santec), Newway Technology and Oculus Optikgerate.

The author, Swapna Supekar, is associate consultant with Future Market Insights.

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