The global ophthalmic loupes market was valued at USD 401.9 million in 2019 and is expected to grow at a CAGR of 6.9% during the forecast period. The growing prevalence of eye-related disorders/diseases such as cataract, refractive disorders, age-related macular degeneration, crossed eyes (or strabismus), diabetic macular edema, Uveitis, retinal detachment, and keratoconus propelled the adoption of ophthalmic loupes in eye surgeries.
Moreover, the aging population coupled with lifestyle and environmental changes also leads to the dramatic rise in the incidence of vision impairment and blindness among individuals in the market. According to the “World Vision Report”, 2019, there is a regional difference in prevalence rates of vision impairment cases.
Know more about this report: request for sample pages
In low- and middle-income countries it is measured that distance vision four times higher than in high-income countries. Unaddressed near vision cases were estimated to be more than 80% in the sub-Saharan African nations, while in high-income nations of North America, South Korea, Western Europe, and few Asian countries it is reported to be lower than 10%.
The global rise in geriatrics across the globe will significantly increase the number of people suffering from eye-related conditions. According to the estimates of the WHO, by 2030, people aged 60 years and over, projected to reach 1.4 billion, from 962 million in 2017. People aged more than 80 years are also expected to reach 202 million, by 2030.
Individuals with an age-related eye condition such as glaucoma are anticipated to increase 1.3 times to 95.4 million in 2030 from 76 million in 2020, people with age-related macular degeneration increase 1.2 times to 243.3 million, by 2030. Similarly, the number of people in the market suffering from presbyopia is anticipated to rise to 2.1 billion, by 2030. Most of the people aged above 70 have the highest frequency of developing cataracts. Moreover, the aging population also leads to an increase in people suffering from dry eye conditions driving the ophthalmic loupes industry.
Lifestyle changes also contribute to the individuals suffering from eye-related conditions, owing to rising urbanization, reduced shelf-care time, and increased workload. This has substantially increased the number of people with myopia driving the market for ophthalmic loupes industry.
As per the market estimates that include two factors the urbanization rate and human development index, the number of people suffering from myopia is projected to increase to 516.7 million, by 2030. In the past thirty years, due to rapid lifestyle changes, there is a significant rise in diabetic people in the market. If the same trend continues, people suffering from diabetic retinopathy is expected to increase to 180.6 million in the market by 2030.
The market is primarily segmented on the basis of loupe type, design, end-use and region:
By Loupe Type
By End Use
Know more about this report: request for sample pages
In 2019, the Galilean type ophthalmic loupes market segment held the largest revenue share and is likely to be dominant over the study period. These types come in different magnification ranges, majorly 1.7x to 3.0x magnification range is prescribed, with high magnification power. These loupes are simple, lightweight, easy to use, affordable, and could be customized according to the requirement. Above mentioned features make it an ideal choice for surgical procedures in the market.
Prismatic type ophthalmic loupes are projected to register a lucrative market growth over the study period. The rising adoption of this type is due to its high magnification power as compared to the Galilean type ophthalmic loupes in the market. It can provide 8.0x loupe magnification and employs a prism to re-align inverted images according to the surgeon’s requirement.
Based on the design, the global ophthalmic loupes market is categorized into through-the-lens (TTL) and flip-up. In 2019, the TTL market segment accounted for the largest market revenue share, with a lens mounted on a frame, customized based on pupillary distance. Loupes are customized on the basis of lenses being used, user requirements, wider point of view, and can be adopted as prescription lenses.
Flip-up ophthalmic loupes projected to register a lucrative market growth rate over the study period. Such ophthalmic loupes come with a hinge mechanism to offer an optimum angle of declination and self-adjusting pupillary distance. It also offers numerous advantages over others such as wide declination angle, ability to move from one place to another, and lower price.
Geographically, the global ophthalmic loupes industry is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is the largest market revenue contributor followed by Europe and the Asia Pacific region. In 2019, the North American region accounted for over 30% of the global ophthalmic loupes industry.
This high share is due to the presence of several key market players operating in ophthalmic loupes industry in the region. In the U.S., market players such as SurgiTel, Ocutech Inc., and SHEERVISION have their headquarter. Ophthalmic loupes industry players in the market provide service programs.
For instance, in October 2020, SurgiTel offered 9 partner services such as free evaluation, angle adjustment, custom nose pads, workshop assistance services, lectures, education publications, and mission program equitable loans. These programs help eye clinicians to know about ophthalmic loupes and associated advantages.
Asia Pacific ophthalmic loupes industry is projected to register the fastest market growth over the study period. The government-sponsored eye care missions and a strong pool of people suffering from eye-related conditions were largely responsible for such market growth. Ophthalmic loupes industry players in the region such as NEITZ INSTRUMENTS offers advanced ophthalmic loupes and could be customized according to the requirements. Both India and China have huge population suffering from cataract, with rising urbanization, device usage is expected to increase.
The prominent market players operating in the ophthalmic loupes industry are SurgiTel, Orascoptic, Univet S.r.l., ZEISS, Rudolf Riester GmbH, SHEERVISION, Keeler, NEITZ INSTRUMENTS CO., LTD., Ocutech Inc., and Designs for Vision, Inc.