Optical Biometry Devices Market | Projected to Grow Radiantly by Top Players Revenue and Growth Rate by 2027
The global optical biometry devices market size accounted for USD 275.0 million in 2018 and is projected to register a CAGR of 5.6% over the forecast period. Optical biometry, also known as ophthalmic biometry, is the current standard for intraocular lens (IOL) power calculations in clinical practice. This is used to measure the anatomical characteristics of the eye. Optical biometry by using partial coherence interferometry (PCI) is more accurate, easy to perform, non-invasive, and comfortable for the patient. Factors characterizing the market growth are worldwide increasing geriatric population, increased efficiency of optical biometry over ultrasound A-scans, growing awareness about eye care, rising older population, and a surge in the number of cataract and refractive surgeries. A data published by the World Health Organization (WHO), globally, approximately 1.3 billion people live with some form of vision impairment at present. On the contrary, lack of skilled personnel and high cost of optical biometry devices are anticipated to hinder the market growth over the forecast period.
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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.
Few of the leading players in the global optical biometry devices market are 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.
The global Optical Biometry Devices Market Growth Size has been segmented into product and end user.
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 held the largest market share in 2018 due to its features such as multiple measurements in a single process, fast data acquisition, and the capability to overcome ocular opacities and superior wavelength. The swept source technology provides clear advantages over the partial coherent interferometry, including the ability to measure the axial length along six different axes and extremely rapid data acquisition.
The partial coherence interferometry-based biometers segment is expected to register the fastest CAGR over the forecast period as optical biometry using partial coherence laser interferometry (PCLI) offers advantages in accuracy and reproducibility of axial length (AL) determination as well as are more comfortable for the patient and the investigator as compared to conventional ultrasonic biometry.
Based on end user, the market has been classified into hospitals, ophthalmic clinics, and others. A gradual rise in the number of government and private hospitals in emerging countries such as China and India along with increase in the adoption of optical biometry devices in hospitals is expected to support the dominance the hospital’s segment. In terms of value, the US is holding comparatively larger share (hospitals) of the market; however, decreasing number of hospitals in recent years is limiting the market growth. According to the American Hospital Association (AHA), currently, total number of hospitals in the US are 6,210.
The ophthalmic clinics segment would register comparatively higher CAGR throughout the forecast period owing to increasing density of ophthalmology clinics in developed and developing markets contributing to rising adoption of next generation optical biometry devices.
The global optical biometry devices market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
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