by Laser indirect ophthalmoscopes are medical devices used by ophthalmologists to examine the inside of the eye and assess retinal diseases. These devices use a low-power laser beam instead of a conventional light source to illuminate the fundus, providing a wider and brighter view of the retina for accurate diagnosis and monitoring of conditions. Laser indirect ophthalmoscopes offer several advantages over traditional versions such as enhanced imaging capabilities, greater magnification, and the ability to fluoresce tissues for examination of retinal pigment epithelium. The growing geriatric population and rising incidence of eye disorders like diabetes, glaucoma and age-related macular degeneration have increased the need for regular eye checkups and early detection tests conducted with laser indirect ophthalmoscopes in hospitals and eyecare centers.
The global Laser Indirect Ophthalmoscope Market is estimated to be valued at US$ 116.01Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Optical coherence tomography (OCT) imaging is gaining popularity as an advancement in ophthalmic diagnostics. OCT allows high-resolution, cross-sectional imaging of the retina and helps clinicians obtain micrometre-level resolutions. Both tabletop and handheld OCT devices integrated with laser indirect ophthalmoscopes are becoming widely adopted as they provide accurate layer-by-layer retinal imaging without injections or contact with the eye. This one-stop solution streamlines diagnosis and monitoring workflows in eye care facilities. The combination of laser indirect ophthalmoscopy and OCT technology is expected to significantly drive the market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to high costs associated with R&D, manufacturing and distribution in this industry.
Bargaining power of buyers: The bargaining power of buyers is high as there are many established players offering similar products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as some key components have multiple suppliers.
Threat of new substitutes: The threat of new substitutes is low as there are no close substitutes for laser indirect ophthalmoscopes.
Competitive rivalry: The competitive rivalry is high among the key global players.
Key Takeaways
The global Laser Indirect Ophthalmoscope Market Growth is expected to witness high growth. North America is expected to dominate the global market during the forecast period owing to growing geriatric population and increasing prevalence of ophthalmic diseases.
Regional analysis:
North America is expected to hold the major share in the global market throughout the forecast period. This is attributed to the well-developed healthcare infrastructure and growing healthcare expenditure in the region.
Key players:
Key players operating in the Laser Indirect Ophthalmoscope market are Ellex Medical Lasers Ltd, Iridex Corporation, Alcon, Carl Zeiss Meditec AG, Lumenis Ltd., Topcon Medical Laser System, Nidek Co. Inc., Ziemer Ophthalmic Systems AG, Heine Optotechnik GmbH, and Keeler Ltd. Ellex Medical Lasers Ltd is expected to be the global market leader with high focus on R&D and new product launches.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
