May 20, 2024
Laser Indirect Ophthalmoscope Market

Laser Indirect Ophthalmoscope Market Estimated to Witness High Growth Owing to Increasing Demand for Non-Invasive Diagnostic Procedures

The laser indirect ophthalmoscope (LIO) is a medical device used for examining the interior structures of the eye, such as the retina, optic disc and posterior vitreous, in a non-invasive manner. LIOs offer superior illumination and provide high-resolution images of the fundus compared to traditional indirect ophthalmoscopes. They employ low-power laser diodes to illuminate the retina, reducing reliance on refractive lenses and reflecting large amounts of light back through the pupil. This allows physicians to perform procedures such as retinal examinations, diagnose diseases like diabetic retinopathy and monitor their progression in a less complicated way.

The Global Laser Indirect Ophthalmoscope Market Share is estimated to be valued at US$ 133.65 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Laser Indirect Ophthalmoscope are Thermo Fisher Scientific, Bruker Corp, Renishaw plc, Horiba Ltd, JASCO Corp, Shimadzu Corp, Kaiser Optical Systems, Inc, PerkinElmer Inc, JEOL Ltd, Agilent Technologies. The key players are focusing on new product launches and strategic collaborations to gain competitive advantage in the market.

The key opportunities in the market include growing demand for non-invasive and advanced retinal imaging solutions. Laser indirect ophthalmoscopes offer superior image quality with less complex operation, improving the accuracy of diagnosis and increasing demand from ophthalmic clinics and hospitals. Furthermore, rising prevalence of eye diseases such as glaucoma, cataracts and diabetic retinopathy is expected to drive the need for regular fundus examinations.

The global expansion of the laser indirect ophthalmoscope market is driven by increasing focus on early detection of retinal disorders. Major market players are focusing on geographic expansion strategies and entering developing markets in Asia Pacific and Latin America through acquisitions and partnerships with local players. This is attributed to growing awareness regarding eye care and rising healthcare expenditures in emerging countries.

Market drivers

The key driver propelling the growth of the laser indirect ophthalmoscope market is the increasing demand for non-invasive diagnostic procedures. LIOs have made retinal examination procedures simpler with better image quality and depth perception compared to conventional devices. This reduces discomfort for patients and enables quick and accurate detection of retinal abnormalities. As eyecare professionals are shifting towards minimally invasive techniques, the demand for laser indirect ophthalmoscopes is growing significantly. Furthermore, growing geriatric population susceptible to age-related eye conditions also contributes to the increased adoption of these devices for retinal screening and diagnosis.

PEST Analysis

Political: The governments across various countries are investing substantially in healthcare infrastructure and promoting awareness about ophthalmic disorders. This is positively impacting the growth of the laser indirect ophthalmoscope market.

Economic: Rising disposable income levels globally are enabling people to spend more on advanced eye care devices and treatments. This is driving demand for laser indirect ophthalmoscopes in the healthcare sector.

Social: Growing geriatric population prone to various eye conditions along with the increasing prevalence of lifestyle diseases is boosting the need for regular eye checkups. This is supporting the adoption of laser indirect ophthalmoscopes.

Technological: Leading manufacturers are investing in R&D to introduce more innovative laser indirect ophthalmoscopes incorporated with advanced features like high-resolution displays and improved imaging capabilities. Some are developing portable devices to expand access in rural areas.

The geographical regions where the laser indirect ophthalmoscope market in terms of value is concentrated include North America, Western Europe, and East Asia. Developed healthcare infrastructures and high awareness levels about eye care in these regions contribute to their large market shares.

The Asia Pacific region excluding Japan is poised to emerge as the fastest growing regional market for laser indirect ophthalmoscopes during the forecast period. Factors such as the expanding patient pool, increasing healthcare spending, growing medical tourism industry, and rising disposable incomes are fueling the laser indirect ophthalmoscope market growth in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it