Automated Visual Field Analyzer Market
Number of pages: 100 | Report Format: PDF | Published date: May 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 158.79 million |
|
Revenue Forecast in 2031 |
US$ 275.18 million |
|
CAGR |
6.3% |
|
Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global automated visual field analyzer market was valued at US$ 158.79 million in 2022 and is expected to register a revenue CAGR of 6.3% to reach US$ 275.18 million by 2031.
Automated Visual Field Analyzer Market Fundamentals
Technology breakthroughs in recent years have significantly improved the field of ophthalmology. One remarkable development is the automated visual field analyzer (AVFA), a sophisticated tool created to evaluate and analyze a patient's visual field. This cutting-edge technology has improved the diagnosis and treatment of several ocular illnesses by giving eye care professionals crucial information. The AVFA measures the patient's capacity to recognize visual stimuli at various points within their visual field. The analyzer creates a detailed map of the patient's visual field by carefully controlling the presentation of stimuli and monitoring their reactions. This information is essential for identifying anomalies, such as scotomas (blind spots), and it sheds light on how well the optic nerve and the overall visual system operate.
The detection and management of glaucoma is one of the main uses of AVFA. Glaucoma, a progressive visual neuropathy, is the most common cause of permanent blindness. By detecting minute changes in the visual field, AVFA enables early identification of glaucomatous damage. Regular evaluations with AVFA can follow the course of the condition, enable prompt management, and stop irreversible vision loss. Aside from treating retinal illnesses, optic nerve abnormalities, and vision-impairing neurological ailments, AVFA is crucial in treating various ocular conditions. It helps assess diseases that impact the visual pathway, such as optic neuritis, diabetic retinopathy, macular degeneration, and brain tumors. The AVFA assists doctors in making educated judgments about treatment options and evaluating the efficacy of those treatments by providing objective assessments of visual field abnormalities.
The research study on the automated visual field analyzer market thoroughly analyzes the market, along with the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth automated visual field analyzer market forecast to the industry stakeholders.
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Automated Visual Field Analyzer Market Dynamics
Automated visual field analyzers' accuracy has increased while their turnaround time has decreased. The implementation of new software algorithms is one of these significant advancements. Increasing frequency of new product releases is one of the main factors projected to boost market growth. New visual function tests are being developed due to recent technological advancements. Diagnostic testing using portable, cheap technology that also enables testing to occur outside of a clinical environment or at home makes it feasible to examine the patient population with limited access to healthcare.
The World Health Organization (WHO) predicts that by 2020, 79.6 million individuals worldwide will have glaucoma, up from 60.5 million in 2010. This substantial rise is anticipated to expand the automated visual field analyzer market. Worldwide, there are more and more ophthalmology clinics and hospitals. The increased demand for ophthalmic services is to blame for this. The market for automated visual field analyzers is anticipated to expand as a result of the rising number of ophthalmology clinics and hospitals.
The rising prevalence of eye conditions. More than 1.3 billion people worldwide suffer from some kind of vision impairment, according to the World Health Organization. By 2050, 4.4 billion people are anticipated to exist on the planet. One of the key reasons propelling the growth of the automated visual field analyzer market is the increasing prevalence of eye illnesses.
The growing awareness of early detection of eye ailments is another factor propelling the automated visual field analyzer market. To stop the disease from progressing, eye diseases must be diagnosed immediately. The automated visual field analyzer is crucial for detecting eye diseases early on.
Automated Visual Field Analyzer Market Ecosystem
Automated Visual Field Analyzer Market, by Type
Automated Visual Field Analyzer Market, by Application
Automated Visual Field Analyzer Market, by End User
Automated Visual Field Analyzer Market by Application
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The glaucoma segment had the highest revenue share of over 30.0% in 2022. Blindness and visual loss are brought on by glaucoma, which damages the eye's optic nerve. The progressive rise in the normal fluid pressure inside the eyes brings on glaucoma. It is called a "sneak thief of sight" because it is a chronic ailment that steadily worsens over time without the patient detecting vision loss until the illness is severe. The glaucoma sector now has a dominant position in the market due to its rising prevalence and significance as one of the leading causes of blindness. Global glaucoma prevalence is expected to reach 20 million by 2020, according to the Bright Focus Foundation. This figure is projected to get close to 111 million by the end of 2040.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as type, application, end user, and region. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps identify potential automated visual field analyzer market growth opportunities.
Automated Visual Field Analyzer Market by Region
The largest revenue share in 2022 occurred in North America. The growing frequency of ocular diseases, the high adoption of the most recent technologies, attractive reimbursement policies, and product launches by competitors in the sector are a few factors that are projected to boost the market over the projection period. For instance, the American Association for Pediatric Ophthalmology and Strabismus underlines that cataracts continue to be the largest cause of blindness and visual loss worldwide. A visual impairment negatively affects a person's ability to do daily tasks, keep work, and care for dependents, all of which have an adverse effect on the afflicted person's quality of life. Cataracts are seen in about three out of every 10,000 children. Furthermore, it is predicted that the demand for cataract surgery in the Canadian province of Ontario will rise by 72% to 144% over the next 25 years, but the capacity of publicly funded outpatient clinics will grow considerably more slowly. As a result, there will be a greater need for automated visual field analyzers.
During the forecast period, the Asia Pacific's automated visual field analyzers market is anticipated to develop at the quickest rate. The region's market is anticipated to be driven by Southeast Asian nations' rapidly rising economies and upgrading healthcare systems. The region's general healthcare service costs are much cheaper than affluent nations. This promotes the expansion of medical tourism in the area and increases the number of procedures performed generally in these nations. Additionally, regional enterprises benefit from conferences, trade shows, and seminars for ophthalmic care equipment hosted in the Asia Pacific region. This supports ophthalmic research into the creation and introduction of cutting-edge treatments.
Based on the regions, the global automated visual field analyzer market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding automated visual field analyzer market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Automated Visual Field Analyzer Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats, keeping in mind the automated visual field analyzer industry trends.
Automated Visual Field Analyzer Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
The automated visual field analyzer (AVFA) is a sophisticated device designed to assess and analyze a patient's visual field and is used for diagnosis and management of various ocular diseases, providing invaluable information to eye care professionals.
The total automated visual field analyzer market size worldwide in 2022 will be US$ 158.79 million.
The North America region will have the largest automated visual field analyzer market size during the forecast period from 2023 to 2031.
The revenue CAGR of the global automated visual field analyzer market is expected to be 6.3% during the forecast period.
The resultant market size of the automated visual field analyzer market in 2031 will be US$ 275.18 million.
The market is constrained by the lack of skilled ophthalmologists, price pressure, rising competition, and high excessive costs during the forecast period.
The recent technological advancements, rising prevalence of glaucoma are the prime factors for drivers of the global automated visual field analyzer market.
Some of the prominent market players in the global market include Carl Zeis, Kowa Company Ltd., and Elektron Eye Technology.
The glaucoma segment has the highest share in the global automated visual field analyzer market.
*Insights on financial performance are subject to the availability of information in the public domain