The ophthalmology PACS market is projected to reach USD 160.2 million by 2023 from an estimated USD 106.6 million in 2018, at a CAGR of 8.5% during the forecast period.
The growth of the ophthalmology market is driven by the rapid growth in the geriatric population, rising prevalence of eye diseases, limited number of ophthalmologists, government initiatives to encourage the adoption of EHR/EMR, and the increasing adoption of teleophthalmology.
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The report segments the ophthalmology market by type, delivery model, end user, and region.
Based on type, the ophthalmology PACS market is segmented into standalone and integrated PACS. The integrated PACS segment is expected to command the largest share of the ophthalmology PACS market in 2018. Integrated PACS offer advantages like ease of deployment and use, easy interoperability, data security, portability, and cost-effectiveness. These advantages are encouraging their adoption and thus driving the growth of this segment.
On the basis of delivery model, the ophthalmology PACS market is segmented into on-premise and web/cloud-based models. In 2018, the on-premise models segment is expected to account for the largest share of the ophthalmology PACS market. This can be attributed to the fact that on-premise models are more customizable than web/cloud-based models.
Based on end user, the ophthalmology PACS market is segmented into hospitals, specialty clinics & ambulatory surgery centers, and other end users. In 2018, the specialty clinics & ambulatory surgical centers segment is expected to command the largest share of the ophthalmology PACS market. The growing patient pool for the diagnosis and treatment of cataracts in specialty clinics & ASCs due to cost-effective treatments is expected to propel the growth of the ophthalmology PACS market in this end-user segment.
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The market is dominated by North America, followed by Europe. The dominance of the North American market is attributed to factors such as growing aging population and increasing incidence of age-related eye diseases. Additionally, government initiatives towards digitization and increasing adoption of EHR/EMR and data storage & exchange solutions are additional factors driving the adoption of ophthalmology PACS in this region.
The ophthalmology market is marked by the presence of several big and small players. IBM Corporation (Merge Healthcare) (US), Carl Zeiss Meditec AG (Germany), Topcon Corporation (Japan), Heidelberg Engineering (Germany), Sonomed Escalon (US), Visbion (UK), EyePACS (US), VersaSuite (US), Medical Standard (South Korea), ScImage (US), Agfa-Gevaert Group (Belgium), and Canon USA Inc. (US) are some of the prominent players offering ophthalmology products.
