According to a newly released Fact.MR analysis, the Ophthalmic Ultrasound Devices Market revenues were expected to be US$ 432.2 Mn in 2021 and are projected to increase at a CAGR of 9.0% from 2022 to 2032. The market is anticipated to reach US$ 1.1 billion by the end of 2032.
In ophthalmology, ultrasonic technology is frequently utilized to treat a variety of conditions, such as glaucoma, problems with the retina, and cancer. New technologies have been implemented by the ophthalmic ultrasonography sector to improve the diagnostic capabilities of their equipment. The toolkits of ophthalmologists and eye surgeons have unquestionably expanded thanks to advancements in electronics, such as better transducers, and new technologies, such as linear array-based plane-wave ultrasound.
Key Takeaways from the Market Study
By 2022, the global market for ophthalmic ultrasound devices is anticipated to be worth US$467.9 Mn.
The A-Scan is anticipated to experience the largest CAGR during the projection period, at 9.1%.
The United States will continue to be the world’s largest market, with a $200 million possibility for absolute dollar growth.
The market in Japan is anticipated to grow at the highest CAGR, 12.8%, between 2022 and 2032.
The top companies in the market for ophthalmic ultrasound devices are concentrating on growth strategies, including product advancements, regular product launches, and mergers and acquisitions. To treat
• In March 2019, the U.S. FDA gave Quantal medical permission to market its ABSolu product.
To treat retinal vascular occlusion, Lantheus declared in April 2019 that it would merge its microbubble technology with Cerevast’s ocular ultrasound equipment. This might pave the way for more advanced RVO technologies in the future, which might boost the efficiency of recently created ophthalmic ultrasound systems. A Phase 2b clinical trial for Cerevast’s investigational ocular ultrasound program is being conducted in the second quarter of 2019.