The constantly increasing percentage of the geriatric population across the world is widely considered as the primary factor augmenting the demand for ophthalmic ultrasound devices. The high geriatric population is directly linked to the increasing patient count for ocular diseases and disorders, along with chronic diseases such as diabetes. The increasing levels of pollution are also responsible for the high volume of ovular disorders across the world, thereby becoming a key driver for the global ophthalmic ultrasound device market. This market is further being boosted by the need for – and subsequent release of – novel technological developments. However, the global ophthalmic ultrasound device market is also being stifled by factors such as the high costs of acquiring these devices as well as the overall lack of ophthalmologists capable of operating advanced devices
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Rise in Geriatric Demographic Pushes for Developments in Ophthalmic Ultrasound Devices
“The globally increasing population of the elderly is currently a key driver for a lot of healthcare related markets due to their lower physical resistance and higher susceptibility of contracting age-related or chronic illnesses. This includes a string of ocular disorders and has therefore already become a prime driver for the global ophthalmic ultrasound device market. This factor is expected to continue driving the market over the coming years,” states a TMR analyst. As published by the WHO, the global population of the elderly is expected to reach close to 1.5 bn by the end of 2050 and is thus a high priority status indicator for the developments in the global ophthalmic ultrasound device market.
Other factors augmenting the global ophthalmic ultrasound device market include the incoming waves of innovations in these devices that will allow enhanced imaging, thanks to better standards of safety, reliability, accuracy, and most importantly, minimization of post-operative pain. These innovations are key to ushering in a new era of minimally invasive surgeries in ocular health and are thus expected to shape the future of the global ophthalmic ultrasound device market. Outside of the elderly, the growing number of ocular disorder cases in adults and younger patients is being attributed to several lifestyle disorders and a growing level of air pollution. The rising cases of glaucoma is currently a core concern for the global ophthalmic ultrasound device market, along with an increasing awareness on modern cataract treatments in emerging economies.
Ophthalmic Ultrasound Devices Priced High in Low Client Pool Market
One of the key restraints acting on the global ophthalmic ultrasound device market currently, is the increasing price of new devices. One of the reasons for the price inflation is the increasing stringency of regulatory frameworks in developed economies, leading to a greater chain of approval acquisition for manufacturers. Hospitals and commercial diagnostic labs are equally affected by the rising prices of ophthalmic ultrasound devices. The problem for the market is complicated further by the overall lack of ophthalmologists in the world. The dearth of ophthalmologists is especially visible in emerging economies such as Malaysia, China, and India, which are expected to be future regions of growth for the market.