Global Ophthalmic Diagnostic Equipment Market Forecast To Grow

The global ophthalmic diagnostic equipment market was estimated at $715.4 million in 2010 and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 4{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} to reach $947 million by 2017. The ophthalmic diagnostic equipment market includes perimeters, automatic and manual refractors, slit lamps, contact and non-contact tonometers, fundus cameras, automatic and manual lens meters, direct and indirect ophthalmoscopes, ultrasound equipment, corneal topography systems and other imaging systems. Technological innovations are stimulating growth in this otherwise saturated market dominated by traditional products. Recent advances in Optical Coherence Tomography (OCT) systems have contributed to the renewed market growth.

The market for ophthalmic diagnostic equipment is growing due to a significant increase in the incidence and prevalence of eye related disorders among the elderly population and the availability of reimbursement for eye care screening in the majority of developed economies. With the introduction of ophthalmic diagnostic equipment with advanced technologies there is an increased interest in the prevention of blindness caused by Diabetic Retinopathy (DR), glaucoma, and macular degeneration. Thus, people are increasingly opting for diagnostic measures to correct eye related disorders.

Old age is associated with certain problems, especially the degeneration of visual abilities. By 2025, people aged 60 and above will constitute 35{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} of the total global population. Thus, with an increase in the elderly population, demand for products related to eye disorders will increase. Moreover, developing regions in Asia and South and Central America will provide growth opportunities as these markets are unsaturated. More than half of the global population resides in Asia, with India and China accounting for over 50{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} of the regional population. This offers significant market opportunities for manufacturers of ophthalmic diagnostic equipment.

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