Ophthalmology PACS Market Drivers, Restraints, Opportunities and Challenges

The ophthalmology PACS market is projected to reach USD 160.2 million by 2023 from an estimated USD 101.0 million in 2017, at a CAGR of 8.5% during the forecast period. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023.

Drivers

 1. Rapid growth in the geriatric population

Over the years, there has been a significant increase in the geriatric population and, subsequently, the prevalence of age-related disorders, including a number of eye disorders. This is a key factor driving the demand for innovative technologies for the diagnosis and treatment of ophthalmic conditions. The tear layer loses stability and degrades faster in the elderly; consequently, the risk of getting severe eye disorders increases significantly with age, particularly after 60 years. One in three elderly people suffers from some form of eye diseases and is at risk of severe eye problems. These conditions include age-related macular degeneration, cataract, low vision, glaucoma, and diabetic eye disease.

Download FREE Brochure @

https://www.marketsandmarkets.com/pdfdownload.asp?id=130879968

2. Rising prevalence of eye diseases

The number of people with major eye diseases is increasing across the globe, and vision loss is becoming a major public health concern. The growth in aging population and the increasing prevalence of chronic disorders such as diabetes and hypertension have also served to boost the prevalence of eye diseases such as diabetic retinopathy and ocular hypertension (glaucoma). The number of blind individuals or those affected with low vision is expected to increase substantially.

According to the Royal National Institute of Blind People (RNIB), in 2013, around 2 million people in the UK were living with sight loss, which is expected to increase to 4.1 million by 2050. 

According to the WHO, an estimated 20 million cataract surgeries were performed in 2010 across the globe; this is expected to reach 32 million by 2020.

Restraints

1          High implementation and maintenance costs

Overcoming financial constraints is the biggest challenge for healthcare organizations, especially in emerging economies. The high cost of imaging equipment and the implementation and licensing of software form a major factor restraining market growth, particularly in countries where the reimbursement scenario is poor.

Most healthcare facilities in developing countries cannot afford these systems due to their high installation and maintenance costs. Ophthalmology PACS, being a novel technology, is costly compared to radiology or cardiology PACS.

Opportunities

1          Untapped emerging markets

With their huge population base, developing countries across the world, including China, India, Russia, Brazil, Mexico, and South Africa, pose potential growth opportunities for ophthalmology PACS providers. More than half the world’s population resides in India and China, accounting for a large patient base. According to the UN Economic and Social Affairs 2017 Report, the population of people aged over 60 years in Asia is expected to increase by ~131.8% from 2017 to 2050, which will consequently drive the prevalence of age-related eye diseases in the region.

  2       Integration with EHR/EMR

Managing the entire spectrum of healthcare content across healthcare enterprises is the basis for achieving a broader HCIT strategy. The concept of medical image management originated with PACS, starting with specific solutions for the radiology department which slowly seeped into other specialties like ophthalmology. PACS, when integrated with EHR, provides instant access and the ability to review images and diagnostic reports with all the necessary image enhancement and advanced review tools.

 Challenges

  1. Poor compatibility with informatics standards

In order to manage previously gathered data, film photography or manually recorded observations are now being digitized. Although most ophthalmic imaging device vendors provide at least a DICOM post-processed image or graphical report option, some smaller vendors may only provide post-processed images in PDF, TIFF, Extensible Markup Language (XML), or another format.

     Expansions (2015–2018)

Month & Year	Company	Country	Description
February 2018	Carl Zeiss Meditec AG	Asunción, ‎ Paraguay	ZEISS and Christoffel-Blindenmission (CBM) along with local partner Fundación Visión established a training center for ophthalmologists. This center utilizes all the equipment and solutions developed by ZEISS for ophthalmology diagnosis and treatment.
September 2017	Carl Zeiss Meditec AG	Germany	The company invested USD 36.1 million (EURO 30 million) in an innovation hub at the Karlsruhe Institute of Technology (KIT), Germany, to build new technologies in the ophthalmic industry.

Mergers and Acquisitions (2015–2018)

Month & Year	Strategy	Acquirer	Acquiree	Description
April 2018	Acquisition	Topcon Corporation	KIDE Clinical Systems Oy (Finland)	This acquisition enabled the company to enhance its ophthalmology product segment by adding KIDE’s optical and ophthalmology cloud solutions to its product portfolio.
August 2017	Acquisition	Carl Zeiss Meditec AG	Veracity Innovations, LLC (US)	To focus on advancing digitalization in medical technology by expanding its market-leading digital solutions for eye care with the acquisition of an intelligent cloud-based platform offered by Veracity, which provides doctors fast and easy access to relevant clinical data at each step in the care and treatment of patients.

Product Launches and enhancements (2015–2018)

Year	Company	Segment	Product
November 2017	Carl Zeiss Meditec AG	Ophthalmology and Optometry	The company launched its VERACITY Surgical, Clarus 500, and HFA3.
October 2016	Topcon Corporation	Eye Care	IMAGEnet Connect