OCTs are relatively a new technology, however first generation devices are near the end of their lifespans due to age-related wear and obsolescence. Early technology adopters like Germany and Italy will see higher numbers of replacement sales sooner.
Vamcouver, BC (PRWEB) May 07, 2014
According to a new report by iData Research (http://www.idataresearch.com), the leading global authority in medical device and pharmaceutical market research, the European diagnostic and interventional ophthalmic device market is expected to exceed €700 million by 2020. There are two main drivers fueling this market, technological innovation and the increasingly aging population that are affected with ocular diseases.
As the population ages, the prevalence of ocular diseases such as cataracts and glaucoma increases. In addition, refractive problems such as myopia, hyperopia and astigmatism are more likely to occur in older people. These factors drive demand for specialized ophthalmic equipment to identify and treat these conditions. In particular, cataracts and glaucoma are common ocular conditions and affect over two million people in Europe, and if left untreated, lead to blindness.
The second main driver is the constant technological innovation and, because of the rapid changes in technology, devices become obsolete fairly quickly, driving the replacement market.
A new innovation that has been successfully adopted is the optical coherence tomography (OCT) devices with integration capabilities with other retinal imaging devices such as the fundus cameras or laser scanning ophthalmoscopes. These devices offer the benefit of minimizing the space taken up by the retinal imaging equipment.
“OCTs are relatively a new technology, however first generation devices are near the end of their lifespans due to age-related wear and obsolescence,” noted Dr. Kamran Zamanian, CEO of iData Research. “Early technology adopters like Germany and Italy will see higher numbers of replacement sales sooner, followed by Spain and Portugal.”
Handheld tonometers have seen a rise in sales driving the Contact Tonometer Market in particular in Portugal which is expected to experience a 7% market growth by 2020. Handheld contact tonometers, such as those manufactured by iCare and Reichert are becoming increasingly popular due to their affordability and portability.
Major competitors leading the diagnostic and interventional ophthalmic device market are Alcon, AMO, Carl Zeiss Meditec, Bausch & Lomb, STAAR Surgical, Topcon, Haag-Streit and Heidelberg Engineering. Emerging companies based in Italy, Japan and China are entering the European ophthalmic device market with low prices in order to gain market share, lowering the overall ASP. This is evident in the ophthalmic ultrasound and fundus camera markets.
iData’s report series on the “Markets for Diagnostic & Interventional Ophthalmic 2014” covers the U.S. and 15 countries in Europe. The report provides comprehensive analyses and forecasts for: OCT, IOLs, phacoemulsification, fundus-cameras, slit-lamp, perimeters, tonometers, ultrasound systems, corneal-topographers, and wavefront-aberrometers. Also the U.S. Market and Survey for Retinopathy Screening Devices 2014 includes a comprehensive end user survey of PCP’s, endocrinologist and hospital administrators.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: ophthalmic, diabetes, surgical equipment, and more.