The global ophthalmic microscope market is expected to grow from $1.26 billion in 2022 to $1.39 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ophthalmic microscope market is expected to reach $1.96 billion in 2027 at a CAGR of 9%.
The ophthalmic microscope market consists of sales of scanning probe microscopes, and electron microscopes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An ophthalmic microscope refers to a specialized microscope used in ophthalmology, which is the branch of medicine concerned with the diagnosis, treatment, and prevention of eye disorders and diseases. It assists the eye surgeon at every stage of cataract surgery, allowing them to work with more efficiency and precision.
North America was the largest region in the ophthalmic microscope market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in ophthalmic microscope report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ophthalmic microscopes are optical, digital, and others.An optical microscope refers to a common type of microscope that uses visible light and lenses to magnify and observe small objects or specimens, and are used for the visualization of eye for diagnostic and therapeutic purposes.
The modality includes ceiling-mounted, table-top, wall-mounted, and on-casters used for Lasik surgery, cataract surgery, keratoplasty surgery, trabeculectomy, and others. These are used by hospitals, ambulatory surgical centers, and others.
The increasing prevalence of eye diseases such as vision impairment is driving the ophthalmology microscope market.Eye diseases refer to conditions that affect the structures and functions of the eye, leading to visual impairment or vision loss.
Ophthalmology microscopes are essential in detailed imaging of the eye of the patient to detect and diagnose eye diseases and defects that may be present. For instance, in October 2022, according to the World Health Organization, a Switzerland-based specialized health agency of the United Nations, at least 2.2 billion people were suffering from near or distant vision impairment globally. Moreover, in December 2022, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, 17.2% of Americans over the age of 40 have a cataract in at least one eye (about 20.5 million people) is estimated to affect approximately 30 million people by 2028. As a result, the increasing prevalence of eye diseases is driving the ophthalmic microscope.
Advancements in the products are a key trend gaining popularity in the ophthalmic microscope market.Major companies in the market are introducing advanced products, such as Konan Medical’s CellChek 20, to sustain their position in the market.
For instance, in September 2020, Konan Medical, a US-based ophthalmic diagnostic products manufacturer, launched CellChek 20 specular microscope.The new product is a specular microscope for ophthalmology and optometry.
The uniqueness of the product is that it is considered the gold standard for cellular imaging and has several features, such as a larger imaged area, superior image clarity, and guttate recognition and redaction from cellular calculations.
In April 2023, Bain Capital Private Equity, a US-based private investment firm, acquired Evident Corporation for an undisclosed amount.The acquisition helped Bain Capital to explore growth opportunities in product innovation and provided it with an extended footprint in newer geographies.
Evident Corporation is a US-based manufacturer of ophthalmology microscopes and other life science microscopes.
The countries covered in the ophthalmic microscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products
The ophthalmic microscopes market research report is one of a series of new reports that provides ophthalmic microscopes market statistics, including the ophthalmic microscopes industry global market size, regional shares, competitors with an ophthalmic microscopes market share, detailed ophthalmic microscopes market segments, market trends, and opportunities, and any further data you may need to thrive in the ophthalmic microscopes industry. This ophthalmic microscopes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.