According to Fact.MR, a supplier of market research and competitive information, the market value of ophthalmic ultrasound devices increased historically between 2017 and 2021 at a CAGR of almost 7.5 percent.
Ophthalmic ultrasonography equipment is used by ophthalmology specialists to identify diseases of the eye, such as glaucoma, problems with the retina, and cancer. To increase the appeal of their products to medical professionals, makers of ultrasound technology in this industry use new developments.
The ophthalmic ultrasound devices market has advanced significantly with the use of ocular ultrasounds in cataract applications and for imaging the posterior eye segment in vitreous haemorrhage. Recent developments, such as the diagnosis of retinal detachment using point-of-care ocular ultrasound, have opened up new business potential for manufacturers of ophthalmic ultrasound equipment.
The market is anticipated to advance due to the increased prevalence of ocular conditions like diabetic retinopathy and cataracts as well as frequent product debuts. The presence of efficient reimbursement programmes like Medicare and Medicaid is anticipated to support market expansion. Normal medical procedures were avoided during the Covid-19 epidemic to prevent patients from contracting the virus. Additionally, ophthalmology services were disproportionately impacted, which decreased the use of routine clinical treatments and thus decreased product demand. As a result, there was a major decline in revenue and some single ophthalmology clinics had to close permanently or temporarily.
· The market for ophthalmic ultrasound devices was worth US$ 432.2 million in 2021. Between 2022 and 2032, the Ophthalmic Ultrasound Devices Market sales would expand 1.7X, reaching about US$ 1.1Bn in 2032, according to Fact.MR.
· In comparison to other segments, the sub-segment A-Scan has the greatest expected growth rate of 9.1 percent.
· In terms of the Mobility category, the sub segment Standalone has the highest CAGR of 7.3% from 2017 to 2021.
· The US is the largest market for ophthalmic ultrasound devices, with a 200 million dollar absolute growth opportunity between 2022 and 2032.
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