Technavio analyzes that the Synoptophore Market is expected to grow at a CAGR of 3.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 42.5 million.There are various factors that contribute to the growth of the market. The Synoptophore market is experiencing significant growth due to the rising prevalence of visual acuity disorders. According to the World Health Organization, approximately 285 million people worldwide live with some form of visual impairment, with a large proportion attributed to conditions such as cataracts, glaucoma, and age-related macular degeneration. This increasing incidence of visual acuity disorders is driving demand for advanced diagnostic and treatment technologies, including Synoptophores, which offer accurate and efficient assessment of visual function. Synoptophores enable ophthalmologists to diagnose and monitor various eye conditions, providing valuable insights into the progression and effectiveness of treatments. This technology is essential in ensuring timely and effective interventions, ultimately improving patient outcomes and quality of life.
In the Synoptophore market, the diagnostic segment held a significant market share in 2023 due to the device's utility in diagnosing ocular muscular imbalances through comprehensive sensory, motor fusion, simultaneous perception, and stereopsis tests. However, the emergence of alternative diagnostic methods like photo screens and prism cover tests, which offer patient compliance, ease of use, and cost-effectiveness, has hampered the growth of this segment. The COVID-19 pandemic further impacted the healthcare industry, with governments prioritizing funds towards pandemic treatment, negatively affecting diagnostic segments including Synoptophore.
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Synoptophore Market Segmentation
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The Synoptophore market caters to various visual disorders, including amblyopia, strabismus, and diplopia, which affect visual acuity in minors and adults. Ocular motility disorders, such as eye convergence disorders and squint, also fall under its purview. Binocular vision assessments are crucial for detecting abnormal retinal correspondence, stereopsis, and sensory fusion issues like aniseikonia. Non-invasive treatments, such as automated synoptophores, offer alternatives to surgery for conditions like cyclophoria and orthotic treatment for ocular motility and binocular vision disorders. Eye examinations are essential for diagnosing these disorders, and pediatric vision scanners facilitate early detection in minors. Cataract patients can also benefit from awareness and non-surgical techniques like manual and automated devices for visual acuity improvement and depth perception enhancement.
The Synoptophore market is a significant segment of the global healthcare equipment industry, specializing in equipment for assessing and treating visual acuity disorders, such as Amblyopia, Strabismus, and Diplopia. This market is characterized by the development and manufacture of advanced, differentiated, and clinically tested devices, including binocular vision assessments tools and pediatric vision scanners. These devices contribute to the global healthcare equipment market, which encompasses a vast range of product categories and companies involved in research and development (R&D), manufacturing, and distribution of capital equipment, instruments, implants, accessories, and consumables for disease diagnosis, monitoring, and treatment. Technavio, a leading technology research and consulting firm, calculates the size of the global healthcare equipment market based on the combined revenue generated by these manufacturers. The Synoptophore market is a crucial component of this industry, offering innovative solutions for addressing various visual disorders and enhancing overall patient care.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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