Ophthalmic Handheld Devices Market Size & Share 2024 to 2032
Market Size by Product Type (Ophthalmoscopes, Retinoscopes, Autorefractors), Category, Application (Vitreo Retinal Disorders, Glaucoma, Cataract, Refractor Disorders).
Report ID: GMI7753
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Published Date: December 2023
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Report Format: PDF
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Authors:
Monali Tayade, Jignesh Rawal
Ophthalmic Handheld Devices Market Size
Ophthalmic Handheld Devices Market was valued at around USD 553.6 million in 2023 and is anticipated to grow at a CAGR of around 2.7% between 2024 and 2032. Ophthalmic handheld devices are portable and compact medical instruments designed for use in the field of ophthalmology. These devices are specifically crafted to be held and operated by hand, providing eye care professionals with convenient tools for various diagnostic, therapeutic, and monitoring purposes related to ocular health. Several factors contribute to the growth of this market, such as ongoing technological advancements, a rising incidence of eye disorders, an expanding geriatric population, and increased investments in medical device companies. Moreover, the industry benefits from heightened awareness levels and the adoption of a preventive healthcare model, further fostering its growth.
Ophthalmic Handheld Devices Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
With the global population on the rise, the elderly demographic, more susceptible to eye-related ailments, is creating an increased demand for ophthalmic devices in healthcare settings. The aging population requires regular eye examinations and treatments, driving the need for handheld devices in geriatric eye care. According to United Nations (UN) research statistics, the global population aged 65 and over is projected to triple in the next three decades, reaching 1.6 billion by 2050—constituting over 16% of the world population. Additionally, there is a growing emphasis on point-of-care testing in healthcare, especially in ophthalmology, where handheld diagnostic devices facilitate swift on-the-spot diagnoses, reducing the necessity for patients to visit specialized clinics or laboratories for specific eye examinations.
COVID-19 Impact
The ophthalmic handheld devices market experienced a significant downturn due to the impact of the COVID-19 pandemic. Initially, disruptions in supply chains and healthcare services resulted in a temporary pause in the production of devices and elective eye surgeries. However, the pandemic also accelerated crucial industry advancements. The widespread adoption of telemedicine during lockdowns highlighted the importance of remote diagnostic tools, potentially increasing the demand for ophthalmic equipment compatible with telehealth. Furthermore, as healthcare systems adjusted to new norms, there was a growing acknowledgment of the need for efficient, point-of-care diagnostics, emphasizing the value of portable technologies.
Ophthalmic Handheld Devices Market Trends
Factors such as the continuous technological advancements, including miniaturization, enhanced imaging capabilities, and integration of smart technologies, growing demand for point-of-care testing, and surging demand for integrated artificial intelligence (AI) in healthcare & machine learning applications collectively contribute to the evolving landscape of the ophthalmic handheld devices industry.
Ophthalmic Handheld Devices Market Analysis
The market by product type is segmented into ophthalmoscopes, retinoscopes, tonometers, pachymeters, autorefractors, slit lamp biomicroscopes, handheld fundus cameras, and other product types. The ophthalmoscopes segment is further divided into direct ophthalmoscopes, and indirect ophthalmoscopes. This segment accounted for significant revenue share and was valued at around USD 86.1 million in 2023.
Based on category, the ophthalmic handheld devices market is divided into traditional handheld devices, and digital/smart handheld devices. The digital/smart handheld devices segment is anticipated to witness higher growth with a CAGR of 3.1% throughout the forecast period.
Based on application, the market is categorized into vitreo retinal disorders, glaucoma, cataract, refractor disorders and other applications. The vitreo retinal disorders segment held a share of 14% in the global ophthalmic handheld devices market, in 2023.
The market by end-use is categorized into hospitals & eye clinics, ambulatory surgical centers, and other end-users. The hospitals & eye clinics segment was valued at USD 369 million in 2023.
North America ophthalmic handheld devices market was valued at USD 204.5 million in 2023 and is predicted to witness a market growth of 2.2% over the analysis timeline.
Ophthalmic Handheld Devices Market Share
The ophthalmic handheld devices industry is competitive in nature, with several large multinationals as well as small and mid-sized companies competing in the industry. The development and launch of novel advanced product types based on different technologies is among a key market strategy. Some of the leading industry players including Topcon Corporation, NIDEK CO., LTD., ZEISS International, HEINE Optotechnik GmbH & Co. KG, and Kowa Company Ltd. among others have a notable presence in the market.
Ophthalmic Handheld Devices Market Companies
Some of the eminent market participants operating in the ophthalmic handheld devices industry include:
Ophthalmic Handheld Devices Industry News
Ophthalmic handheld devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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Market, By Product Type
Market, By Category
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
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