Optical Biometry Devices Market Size Is Estimated to Grow at a 5.6% CAGR By 2025

Optical Biometry Devices Market Size Is Estimated to Grow at a 5.6% CAGR By 2025

Optical Biometry Devices Market
Global Optical Biometry Devices Market Research Report: Information by Product [Swept-Source Optical Coherence Tomography (SSOCT)-Based Biometers, Partial Coherence Interferometry (PCI)-Based Biometers, Optical Low Coherence Reflectometry (OLCR)-Based Biometers], End User (Hospitals, Ophthalmic Clinics, Others) and Region – Forecast till 2025

Global Optical Biometry Devices Market size is estimated to appreciate at 5.6% CAGR during the assessment period (2019 – 2025). In 2018, the market had garnered a valuation of USD 275 million. Increased efficiency of optical biometry as compared to ultrasound A-scans (A-scan ultrasound biometry) acts as a key growth driver for the market.

Global Optical Biometry Devices Market size is witnessing a constant rise in its revenues. The market is predominantly led by the rising prevalence of diseases and disorders related to eyesight. Over the recent past, growing occurrences of cataract and other visual-impairing problems such as amblyopia, glaucoma, and macular degeneration are rising drastically. Some of them are treatable through surgery only. In such cases, optical biometry is proven to be a valuable tool, bringing optimized patient outcomes.

Optical biometry (ophthalmic biometry) devices are used to measure anatomical characteristics of the eye. Optical biometry devices can provide accurate measurements, which help to determine the exact power of an intraocular lens (IOL) before it is implanted during surgery. These devices can calculate IOL power accurately, using partial coherence interferometry. The efficacy that these biometry devices provide in calculating accurate IOL power drives their uptake and sales in the market.

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Additionally, factors such as ongoing product development & commercialization, favorable reimbursement policies, and increasing numbers of regulatory approvals are boosting the growth of the market. Moreover, the increasing adoption of optical biometry devices, alongside the growing awareness about eye care and rising cataract & refractive surgeries are fostering the market growth.

 Conversely, the high cost of optical biometry devices is a major factor projected to inhibit market growth over the anticipated period. Nevertheless, efforts & investments of key market players to drive R&D activities would support the growth of the market, bringing about cost-effective solutions.

Optical Biometry Devices Market Segmentations

The market is segmented into three main dynamics to widen the scope of understanding,

By Product, the global Optical Biometry Devices Market is segmented into Partial Coherence Interferometry-based Biometers (PCI-based), Swept-Source Optical Coherence Tomography-based Biometers (SSOCT-based), Optical Low Coherence Reflectometry-based Biometers (OLCR-based), and others.

By End-user, the global Optical Biometry Devices Market is segmented into Ophthalmic Clinics, Hospitals, and others.

By Regions, the global Optical Biometry Devices Market is segmented into Europe, Americas, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.

Optical Biometry Devices Market Geographical Analysis

North America dominates the global optical biometry devices market due to the growing adoption of these devices. Besides, factors such as rising investments for the development of healthcare infrastructure and high expenditures for eye-care. Additionally, increasing prevalence of eye-vision problems and other eye-related diseases & disorders are driving the market growth in the region, leading to visual impairments.

Moreover, a large pool of diabetic patient population and augmenting demand for diabetic retinopathy substantiate the regional market growth. Furthermore, the presence of major players and their expansion strategies & increasing product launches, act as a dominant tailwind for the growth of the optical biometry devices market in North America.

Europe stands second in the global optical biometry devices market, heading with the rising occurrences of eyesight disorders and other eye diseases. Growing numbers of the middle-aged population in the region fuels market growth. Besides, increasing R&D activities and new product approvals are some of the key factors boosting the regional market growth. Also, the increased focus of key players for business expansion in the region and the well-spread awareness about the eye-care is fuelling the market growth.

The Asia Pacific region is a promising market for optical biometry devices globally. The market is witnessing growing funding support from the private and public sectors for R&D. Moreover, Factors such as growing incidences of ocular diseases and eyesight issues among hugely populated and rapidly developing countries such as India and China, are fostering the regional market growth. Also, the untapped markets, along with spreading awareness about eye care in the region, are expected to fuel the growth of the APAC optical biometry devices market.

Optical Biometry Devices Market Competitive Landscape

Fiercely competitive, the optical biometry devices market appears well-established due to the presence of several matured players. To gain a larger competitive share, players adopt strategies such as collaborations, mergers & acquisitions, expansion, and new technologies/product launches.

Optical Biometry Devices Market Major Players:

Players active in the global optical biometry devices market include Haag-Streit AG, Topcon Corporation, Carl Zeiss AG, Welch Allyn, Inc., Heine Optotechnik GmbH & Co. KG, NIDEK Co., Ltd., AMETEK, Inc., Optovue, Bausch & Lomb Incorporated, Tomey Corporation, CENTERVUE SpA, and Leica Microsystems GmbH, among others.

Optical Biometry Devices Industry/Innovation/Related News:

BiB Ophthalmic Instruments Ltd. (the UK), launched the Optopol Revo NX-130 optical coherence tomography (OCT) device to measure ocular structure along the eye axis. The device captures at 130,000 A-scans per second, featuring the equipment company’s new Motion Correction Technology software, which eliminates eye movement, blinks, and artifacts.

Optopol Revo NX-130 is also available with OCT-B Biometry and provides OCT-A results while minimizing the inconvenience of any necessary re-scans for patients. Simultaneously, OCT-T Tomography and OCT-A Angiography add-ons are also available

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