Ophthalmoscope is
designed for the treatment of fundus of the eye and has revolutionized the
medical science associated with retina, optic disc and vitreous humor.
Ophthalmoscope application in the health care sector for routine eye check-up
is the major factor driving the overall market demand. Almost all
ophthalmologists use these devices to monitor their patients for further
diagnosis. As per the Centers for Disease control and Prevention, in 2015,
around 11 million American aged 12 could improve their vision through
refractive correction. Such high incidences of vision defects are expected to
provide great opportunities for this device usage.
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This device usage in the
treatment of patients suffering from glaucoma is expected to drive the market
over the forecast period. Increasing government initiatives to increase the
vision correction among children is expected to propel the industry growth in
near future. Growing awareness associated with eye treatments is further
anticipated to fuel the demand for these machines. Medical tourism has resulted
in propelling the growth of these devices in countries such as Jordan,
Malaysia, Israel, Singapore and Turkey. These countries known to offer health
care facilities at significantly lower costs are known to attract patients from
across the world. This has increased the purchase of these devices to
accommodate the growing number of eye care patients. The risk associated with
the usage of these machines is expected to pull the market down in the near
future. Also these devices require maintenance which acts a barrier for the
overall industry growth. Doctors need to follow electrical safety for before
use as set by the FDA. Some part of the device is designed to come in contact
with the patient and therefore should be cleaned using disinfectants or
protected by a disposable cover.
Market segmentation is done on
the basis end users which include hospitals and independent medical centers.
Hospitals account for majority of the segment share and is expected to continue
its dominance owing to privatization of health care sector. Independent medical
centre is expected to grow at a slow rate owing to the high costs of this
equipment. North America has been the leading market in recent years in terms
of demand and is expected to continue its dominance owing to developed health
care sector and increasing government initiatives for sophisticated medical
devices. Further, regional demand is followed by Asia Pacific mainly on account
of increasing incidences of cataract and glaucoma. Emerging economies including
India and Malaysia is expected to provide bright opportunities on account of
increasing privatization in healthcare.
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