DIAGNOSTICS-IMPACT ON THE PREMIUM CHANNEL
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The ophthalmic diagnostic equipment market grew an estimated 8.9% in 2015 and is expected to continue growing at 4.1% through 2020. Key segments driving growth include fundus imaging at 22% growth, optical coherence tomography (OCT) at 13% growth, operating microscopes at 18% growth, and optical biometry at 8.5% growth. Looking forward, advances in technology will enable more precise diagnostics needed for precision eye surgeries and specialized treatments, while handheld and lower-cost devices will expand access to screening and disease monitoring.
DIAGNOSTICS-IMPACT ON THE PREMIUM CHANNEL
- 1. DIAGNOSTICS-IMPACT ON THE PREMIUM CHANNEL: MARKET OVERVIEW Richard Lindstrom, MD
- 2. OPHTHALMIC DIAGNOSTIC EQUIPMENT MARKET AND OPPORTUNITIES Richard L. Lindstrom, MD Ophthalmology Innovation Summit May 5, 2016 © 2016, Market Scope, LLC
- 3. OPHTHALMIC DIAGNOSTIC MARKET GLOBAL REVENUES • Market Grew an Estimated 8.9% in 2015 • One of Fastest Growing Ophthalmic Market Segments • Expected to Grow at 4.1 Percent Through 2020 • Rapid Innovation in All Segments • Low Regulatory Barriers • Rapid Advances in Enabling Technologies © 2016, Market Scope, LLC
- 4. DIAGNOSTIC EQUIPMENT MARKET BY SEGMENT • Almost 700 Diagnostic Products • 85 Manufacturers • 126 Products Discontinued in 2015 • 80 New Products Introduced • 37 Product Categories • 4 Key Product Groups Account for More than 50% of Revenues • OCT 18% • Fundus Imaging 14% • Or Microscopes 13% • Optical Biometry 6% © 2016, Market Scope, LLC
- 5. 2015 REVENUE GROWTH BY SEGMENT • Total Market Growth 8.9% or $317 Million • Five Key Product Groups Account for 68% of Growth • Fundus Imaging +22% or $77 Million • OCT +13% or $63 Million • OR Microscopes +18% or $58 Million • Optical Biometry +8.5% or $15 Million © 2016, Market Scope, LLC
- 6. FUNDUS IMAGING • Moving Beyond Conventional Photography • Leveraging Technology Advances • Microprocessors • Data Storage and Transfer • Improved Image Capture Precision • Image Registration and Analysis • Improved Batteries • Many New Advances Leading to Proliferation of Products • Widefield imaging • Automated Alignment and Capture • Combination Units such as OCT/Fundus Image or Perimetry/Fundus Provide Data Registration • Hand -held Devices for Screening © 2016, Market Scope, LLC
- 7. OPTICAL COHERENCE TOMOGRAPHY • Expanding Precision and Analytics • Leveraging Technology Advances • Microprocessors • Data Storage and Transfer • New Advances are Opening New Windows into Retina and Glaucoma Diseases and Treatments • Expanding Precision • Specialized Applications-OCT Angiography, Microscope with OCT Diagnostics, OCT for Biometers • Lower Cost Devices for Screening • Ease of Use, Compact Design © 2016, Market Scope, LLC
- 8. OPTICAL BIOMETRY • Need for Improvements • Previous LASIK • Advanced IOLs • Expanding Precision and Analytics • Leveraging Technology Advances • Microprocessors and Image Capture • OCT Technology, Scheimpflug Imaging • Data Storage and Transfer • Advances • Improved Formulas • Higher Precision Measurements • Transfer of Data to OR Suite © 2016, Market Scope, LLC
- 9. OR MICROSCOPES • Need for Improvements • Integrated Diagnostics for Precision Surgery • Improved Visualization • Leveraging Technology Advances • Microprocessors, Illumination, Display • Advances in Diagnostics • Data Storage and Transfer • Advances • Improved Optics, Illumination, Ergonomics • Integrated Diagnostics • Transfer of Data to Microscopes © 2016, Market Scope, LLC
- 10. DIAGNOSTIC MARKET COMPETITORS • Highly Competitive Market • Carl Zeiss Meditec- Market Leader • 85 Manufacturers • Low Barriers to Entry • Many Technologies • Optics, Electronics, Software, Laser, Ultrasound, Mechanical 2015 Ophthalmic Diagnostic Market $3.1 Billion © 2016, Market Scope, LLC
- 11. LOOKING FORWARD AT OPHTHALMIC DIAGNOSTICS • Diagnostics Increasingly Important • Precision Surgery Requires Advanced Diagnostics • Specialized Pharmaceuticals and Drug Delivery Systems Require More Specific Diagnosis • Record Keeping Requirements Dictate More Quantitative Data • New Technology Creates Opportunities • Advances in Microprocessors, Operating Systems, Networking, Storage • Image Analytical Software Tracks Disease Progression and Compares Results Across Tests • Handheld Technologies Leverage Development of Smaller Devices and Efficient Communications of Test Results • Globalization of Ophthalmology Creates an Increasingly Competitive Environment • Lower Cost • Rapid Innovation © 2016, Market Scope, LLC