The global Ophthalmology PACS market size is expected to be worth around US$ 270.96 million by 2030, according to a new report by Vision Research Reports.
The global Ophthalmology PACS market size was valued at US$ 203.14 million in 2020 and is anticipated to grow at a CAGR of 7.5% during forecast period 2022 to 2030.
The rising prevalence of eye diseases, such as cataract, glaucoma, age-related macular degeneration, and diabetic retinopathy, is expected to fuel demand for ophthalmology PACS in near future. The Department of Ophthalmology of National University of Singapore conducted a study in collaboration with National University Health System, Singapore and South Central Asia. According to this study, the number of glaucoma cases diagnosed in 2013 was 17.06 million, which is anticipated to reach around 32.9 million by 2040.
Product development, geographical expansion and M&A are some sustainability strategies adopted by major companies in this market. For instance, in August 2017, Carl Zeiss Meditec Inc., acquired Veracity Innovations, LLC, a U.S.-based medical software company that delivers cloud-based platforms to maximize clinical performance and work efficiency. These platforms help ophthalmologists in delivering personalized technology-enabled care to their patients. The acquisition is intended to expand the former company’s eye care-based digital solutions portfolio. The company is also focusing on expanding the business in Asia Pacific owing to larger patient pool in this region.
Integrated systems segment held the major share of the global ophthalmology PACS market in 2020. These systems integrate clinical applications, such as data integration, functional integration, context integration, and presentation integration. Thus, the systems used with diagnostic device provides an ability to physicians to review the patient reports and diagnosis outcomes from anywhere and anytime.
Technological and product advancements in the segment will further boost growth in the near future. For instance, in November 2015, Heidelberg Engineering launched SPECTRALIS glaucoma and retina imaging platform. Features offered by integrated systems, such as easy interpretability, good user interface, data portability, security, cost-effectiveness, and ease of deployment, will further fuel demand for this segment in near future.
The cloud-based system segment is anticipated to register the highest CAGR during the forecast period. The cloud-based systems provide flexibility to the physicians for accessing medical records at any time and from anywhere. Thus, healthcare providers worldwide are now using these systems for distributing images, delivering reports, imaging studies, providing redundant data storage.
In addition, companies are focusing on merger and acquisition activities to deliver novel product line. For instance, in April 2018, Topcon Healthcare Solutions, a subsidiary of Topcon Corporation has acquired KIDE Systems, a Finland-based company. Through this acquisition, Topcon added KIDE OPTOFLOW, a cloud-based ophthalmic solution to its portfolio.
Collaborations between major market players and hospital and clinics to deliver advanced PACS solutions and services will fuel the adoption in the hospitals. For instance, in April 2016, Sectra, an international medical imaging IT company, and ProMedica, a U.S.-based hospital chain, entered into a six-year contract to deliver PACS services to ProMedica.
Moreover, government initiatives to increase adoption of systems in hospitals will further propel segment growth. For instance, according to an independent study published in JAMA Ophthalmology, adoption of EHR has nearly doubled from 19% in 2006 to 72.1% in 2016 in the U.S.
North America led the overall market in 2020, owing to the presence of well-developed healthcare infrastructure, government funding, and high public and private expenditure in the healthcare sector. Rising ophthalmic disease burden is expected to fuel the region’s growth further. According to a study conducted by the National Institutes of Health (NIH), in 2014, the annual economic burden of eye disease, vision loss, and other disorders was around USD 139 billion in the U.S.
Carl Zeiss Meditec AG; Topcon Corp.; Merge Healthcare, Inc. (IBM Watson Health); Heidelberg Engineering GmbH; Visbion Ltd.; Sonomed Escalon; EyePACS, LLC; VersaSuite; and ScImage, Inc.
Delivery Mode Outlook
Middle East & Africa
The Ophthalmology PACS market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Ophthalmology PACS market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Ophthalmology PACS market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ophthalmology PACS market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ophthalmology PACS market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Ophthalmology PACS capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Ophthalmology PACS by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ophthalmology PACS market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ophthalmology PACS market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ophthalmology PACS market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Ophthalmology PACS industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Ophthalmology PACS market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ophthalmology PACS market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ophthalmology PACS market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ophthalmology PACS market. These factors have benefited the growth of the global market for Ophthalmology PACS. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ophthalmology PACS. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Ophthalmology PACS are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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