The global ophthalmology PACS market size is expected to reach USD 170.96 million by 2025, according to a new report by Grand View Research, Inc. It is projected to witness a CAGR of 6.5% during the forecast period and is driven by rising adoption of Electronic Health Record (EHR) and Electronic Medical Records (EMR) solutions globally. Moreover, 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.
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Further key
findings from the study suggest:
- Increasing cases of
ophthalmic diseases, lack of skilled ophthalmologists, and growing usage
of teleophthalmology solutions in developed countries are the factors
driving the market
- According to BrightFocus
Foundation’s survey, prevalence of Age-related Macular Degeneration (AMD)
is anticipated to rise up to 22 million by 2040. This is also likely to
boost market growth
- Cloud-based PACS is
anticipated to register lucrative growth during the forecast period owing
to features, such as interoperability and mutual performance, privacy and
security, reduced errors, and improved quality
- North America held the major
share of the market in 2017 due to increased ophthalmic disease burden and
healthcare expenditure by public and private firms in this region
- Asia-Pacific is anticipated
to register the highest CAGR during forecast period due to rising
prevalence of glaucoma coupled with high demand for an effective
diagnostic solution
- Carl Zeiss Meditec AG;
Topcon Corp.; Merge Healthcare, Inc. are the major companies in the global
ophthalmology PACS market
- Most of these companies are
focusing on technological advancements, M&A, and R&D as part of
their business expansion strategies
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Grand View Research has segmented
the global ophthalmology PACS market on the basis of type, delivery mode,
end-use, and region:
Ophthalmology PACS
Type Outlook (Revenue, USD Million, 2014 - 2025)
- Standalone PACS
- Integrated PACS
Ophthalmology PACS
Delivery Mode Outlook (Revenue, USD Million, 2014 - 2025)
- On-Premise System
- Cloud-Based System
Ophthalmology PACS
End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospital
- Specialty Clinics
- Others
Ophthalmology PACS
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Latin America
- Mexico
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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