Albany, NY -- (SBWIRE) -- 07/06/2017 -- The use of ultrasound devices to obtain diagnostically important information in ophthalmology is gaining increased significance. The application of ophthalmic ultrasound devices is gaining significance as they enable clinicians to get real-time cross-sectional images in a cost-effective manner. Over the past few years, the market has witnessed substantial improvements in scanning, data processing, and display technologies associated with ophthalmic ultrasound devices. This has constantly expanded the prospect of novel diagnostic capabilities leading to focused ultrasound in ophthalmology. In addition, constant developments have been made optical coherence tomography, magnetic resonance imaging, and Scheimpflug imaging techniques.

The rise in elderly population and the prevalence of ovular disorders attributed to the rising pollution levels have spurred the demand for diagnosis of eye disorders such as glaucoma, cataract, diabetic retinopathy and macular degeneration.

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A majority of eye diseases may occur at any age and hence propels the demand for inexpensive and advanced ophthalmic ultrasound devices. Driven by abundant opportunities, the global ophthalmic ultrasound market is projected to rise at a CAGR of 6.2% from 2016 to 2024 and is expected to reach US$4.0 bn by the end of the forecast period.

Which product segments are expected to garner extensive demand during the forecast period?

The major products types in the ophthalmic ultrasound device market are A-scan, B-scan, combined scan, ultrasound biomicroscopes, and pachymeters. Among these, the segment of A-scan devices garnered the major share in 2015. Ophthalmic A-scan ultrasound devices find wide applications in ophthalmic clinics, research labs, and hospitals due to their capability to produce accurate results. Meanwhile, applications of B-scan ocular ultrasound devices are expected to gather extraordinary pace in the coming years. The substantial rise in demand for B-scan devices rate is attributed to the growing prevalence of ocular diseases such as cataracts and glaucoma.

Advancements in ophthalmic ultrasound devices have enabled clinicians in obtaining a minimally-invasive visualization of various occult structures, which have helped them manage a variety of debilitating eye diseases in time. ArcScan, Inc., a leading developer of cutting-edge ophthalmic visualization technology, announced in May, 2017 that its flagship product Insight 100, will be incorporated by globally renowned Prism Eye Institute in Ontario, Canada. The world famous surgeon Ike Ahmed incorporated this in the clinic for indications related to refractive surgical planning and for the evaluation of anterior segment pathology. Considered as significant advancements over handheld ultrasound bio-microscopes, the device can be used in a variety of diagnostic applications, particularly for glaucoma assessment.

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Which geographical regions are expected to provide lucrative growth avenues for market players?

The major regional markets are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, North America emerged as the leading regional market and held the major market share in 2016. The growth of the regional market is attributed to the growing prevalence of common ocular disorders and constant innovations in diagnostic technologies. In addition, the presence of better ocular health awareness programs is also expected to bolster the uptake of ophthalmic ultrasound devices.

On the other hand, the Asia Pacific market is projected to expand at a substantial rate over the forecast period. The growth in the market is driven by rising count of elderly population suffering with vision-robbing diseases and constant consolidation of distribution channels by prominent vendors in this region.