Laser indirect ophthalmoscopes are medical devices used for retinal examination by projecting a light beam from a fundus lens to the retina. They help ophthalmologists to visualize the interior of the eye in order to diagnose retinal disease and intraocular abnormalities. Advancements in laser technology and portable digital systems have increased the adoption of laser indirect ophthalmoscopes as they provide enhanced images, are less invasive and prevent eye strain for surgeons during long procedures. The global Laser Indirect Ophthalmoscope Market is estimated to be valued at US$ 31.5 million in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Digitalization has positively impacted the laser indirect ophthalmoscope market. Online portals have emerged as an important platform for ophthalmologists and patients to connect remotely. They offer telemedicine consultations using laser indirect ophthalmoscopes incorporated with digital cameras and connectivity features. This allows capturing high resolution images of the retina and transmitting them securely for obtaining second opinions or monitoring existing cases. During the pandemic, tele-ophthalmology saw increased adoption for its convenience and safety. The trend of digitalization is expected to drive further innovation in laser indirect ophthalmoscopes and support market growth over the forecast period.
SWOT Analysis
Strength: Global laser indirect ophthalmoscope market size provide higher image resolution and brightness compared to conventional types. This allows for improved detection of retinal pathologies.
Weakness: Laser indirect ophthalmoscopes have a substantially higher cost compared to conventional indirect ophthalmoscopes. This can limit their adoption in price sensitive markets.
Opportunity: Growing geriatric population globally is increasing the patient pool requiring regular eye screening and examinations. This can drive higher demand for laser indirect ophthalmoscopes.
Threats: Availability of affordable substitutes like smartphone-based fundus cameras can hamper the demand for table-top laser indirect ophthalmoscopes. Stringent regulations associated with medical devices can also adversely impact market growth.
Key Takeaways
The global Laser Indirect Ophthalmoscope market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: North America currently dominates the laser indirect ophthalmoscope market and is expected to continue its dominance during the forecast period. The availability of advanced healthcare facilities and growing prevalence of eye disorders in the region is supporting market growth. Asia Pacific is anticipated to be the fastest growing market for laser indirect ophthalmoscopes owing to increasing healthcare expenditure and large patient population.
Key players operating in the Laser Indirect Ophthalmoscope market are Ellex Medical Lasers Ltd., Iridex Corporation, Carl Zeiss Meditec AG, Lumenis, Meridian AG, Nidek Co. Ltd., Optos Plc, and Topcon Corporation. Key players are focused on new product launches and strategic collaborations with ophthalmic clinics and hospitals to strengthen their market position. For instance, in 2021 Nidek launched VISULAS 577 Industrial, an all laser all diode indirect ophthalmoscope for screening large populations.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it