Slit Lamps Market Size, Share & COVID-19 Impact Analysis, By Product Type (Handheld/Portable Slit Lamps and Table Mount Slit Lamps), By Technology (Analog and Digital), By End-user (Hospitals, Specialty Practices, and Others), and Regional Forecast, 2023-2030

The global slit lamps market size was valued at USD 243.8 million in 2022 and is projected to grow from USD 256.9 million in 2023 to USD 381.2 million by 2030, exhibiting a CAGR of 5.8% during the forecast period.

A slit lamp is an instrument with a high-intensity light source that is used to diagnose various ophthalmology disorders. It is a standard microscope utilized for diagnosing the health of the eye and the detection of eye-related diseases. These instruments permit 3D visualization and measurement of the anatomy of the anterior and adnexa segments of the eye.

The rising prevalence of eye disorders across the globe will influence the market growth over the forecast period. Furthermore, the rising demand for high-quality devices and an escalation in the number of product launches by industry players are expected to boost the industry growth over 2023-2030.

COVID-19 IMPACT

COVID-19 Negatively Affected the Industry Revenue Due to Lower Sales of the Devices

The COVID-19 pandemic declined the demand for products used by the ophthalmologists due to lower patient volumes. The supply chain disruptions, reallocation of healthcare resources, declining patient visits to healthcare facilities, and other major parameters impacted the sales of these products. In addition, key market players recorded a significant decline in their revenues due to the outbreak of COVID-19.

• For instance, Zeiss Group experienced a decline of 7.0% in its ophthalmic devices and registered a revenue of USD 991.0 in 2020 million due to the lower sales of ophthalmic devices across the market.

Furthermore, the negative growth of the market was due to the decline in the number of patients visiting hospitals and specialty clinics for ocular examinations and the shutdown of healthcare facilities during the half year of 2020.

• For instance, according to the survey published by NCBI in May 2021, in the U.S., the American Academy of Ophthalmology released a statement calling for U.S. ophthalmologists to discontinue non-urgent care due to the pandemic in March 2020.

The resumption of a significant number of ophthalmic procedures and patient visits in 2021 contributed to the market experiencing a strong recovery in 2021. The market was expected to reach to the pre-pandemic levels in 2022 and would experience steady growth prospects thereafter over the study period.

Slit Lamps Market Trends

Transition from Analog Devices to Digital Devices

The market is continuously evolving with the advent of advanced products. These innovations have shifted from analog devices to digital products. The transition is driven by the growing demand for enhanced precision, efficiency, and data integration in ophthalmic examinations. The digital devices offer high-resolution imaging, enabling detailed visualizations and easy documentation of eye conditions. Moreover, they facilitate telemedicine and remote consultations, expanding access to eye care services.

Furthermore, the market players are focusing on developing innovative digital devices to enhance their product offerings and attract a wider customer base by providing improved diagnosis facilities to ophthalmologists and opticians to evaluate several disorders, including cataracts.

In addition, as the ophthalmology industry continues to embrace digital technologies, it is expected that the market for such devices will continue to grow at a robust pace in the coming years.

Slit Lamps Market Growth Factors

Growing Prevalence of Eye Diseases to Drive the Product Demand

The market is experiencing a surge in product demand due to the growing prevalence of eye diseases across the globe. These devices are standard devices used for diagnosing, monitoring, and managing various ocular conditions. This makes the adoption of these devices essential amongst the eye hospital and clinics, thereby increasing the market growth.

Furthermore, the rising cases of cataracts, glaucoma, and macular degeneration, coupled with the growing geriatric population, have increased the demand for standard device lamps among eye care professionals.

• For instance, according to the CDC, in the U.S., 20.5 million people aged 40 years and older had cataracts in one or both eyes. The total number of people who have cataracts was estimated to reach 30.1 million by 2020 in the U.S.

Furthermore, technological advancements in these devices’ design, such as incorporation of digital imaging and telemedicine capabilities, have made these devices more versatile and efficient in diagnosing and managing eye diseases, which has fueled their adoption during the forecast period.

Surge in Technological Advancements to Boost the Demand for Slit Lamps Leading to Market Growth

The market is experiencing a significant boost which is attributable to the continuous advancements in technology.

The integration of digital imaging and software solutions is a notable technological advancement in recent years in the market. The advanced lamps are equipped with high-resolution digital cameras that capture detailed images of the eye's anterior segment. This innovation allows for the documentation and analysis of eye conditions with unparalleled clarity. In addition, advanced software tools can assist in the automated measurements and analysis, streamlining the diagnostic process.

Furthermore, the introduction of portable devices with wireless connectivity and telemedicine capabilities is also transforming these devices. Ophthalmologists can now remotely access these devices data and images, enabling them to provide consultations to patients in remote or underserved areas. Moreover, introducing such devices in the market has increased the adoption of these devices among eye professionals, leading to market growth during the forecast period.

RESTRAINING FACTORS

High Cost and Lack of Awareness for Slit Lamps to Hamper Market Growth

In developed countries, there has been an increase in the number of diagnoses of cataracts and other ocular diseases. However, in developing countries, several factors, such as lack of awareness, low healthcare expenditure in emerging countries, and high equipment costs are expected to impede the market growth.

In emerging regions, the budget constraints of specialty practices make investing in high-end devices equipment challenging. Furthermore, the population may not be aware of the importance of routine eye exams and the healthcare staff may lack the necessary training to operate these products effectively, thereby limiting the adoption of these devices in these regions.

In addition, the inadequate awareness about the importance of regular eye examinations and the capabilities of these devices further limit the adoption of these devices in the healthcare facilities. Hence, factors such as high costs and insufficient awareness are challenges faced by the physicians, which has resulted in the lower adoption rates of these products.

Slit Lamps Market Segmentation Landscape

By Product Type Analysis

Table Mount Slit Lamps Held the Largest Share in 2022 Due to Growing Incidence of Cataracts

Based on product type, the market is bifurcated into handheld slit lamps and table mount slit lamps.

The table mount slit lamps segment captured the highest market share in 2022 and is estimated to record a significant CAGR over 2023-2030. The largest share of the segment is attributed to the growing prevalence of cataracts coupled with the high adoption of this product, especially in developed countries. The increasing demand for these products, market players are bringing new products to the market.

The handheld/portable slit lamps segment is projected to expand at the highest CAGR during the forecast period. This segmental growth is due to benefits associated with this device, such as on-the-go eye examinations, offering flexibility, accessibility, and convenience in diverse healthcare settings. Furthermore, the companies are focusing on various strategies to expand their product offerings, thereby increasing the segmental growth over the forecast period.

By Technology Analysis

Analog Segment Dominated the Market Owing to Rising Cases of Ocular Diseases

Based on technology, the market is bifurcated into analog and digital.

The analog segment captured the highest global slit lamps market share in 2022. The largest share of the segment is attributed to the robust adoption of the product, especially in hospitals. Furthermore, the growing number of patient visits for eye examination coupled with the increasing cases of ocular diseases in these settings is predicted to boost the segmental growth during the forecast timeframe.

The digital segment is projected to expand at the highest CAGR during the forecast period. The highest growth rate is attributed to the technological superiority of the device and the growing adoption of these devices in clinics to examine patients' eyes. Furthermore, the benefits associated with these devices, such as capturing high-resolution images and videos without external monitors, increases the segmental growth over the forecast period.

By End-user Analysis

Hospitals Held Major Share in 2022 due to Growing Adoption of Table Mount Devices

In terms of end-user, the market is segregated into hospitals, specialty practices, and others.

In 2022, the hospitals segment dominated the market and is projected to register a notable CAGR during 2023-2030. The highest segmental share is attributed to the growing adoption of products such as table mount devices in the hospitals. Furthermore, the growing patient visits to hospitals to diagnose disorders is expected to boost the segmental growth during the forecast period.

The specialty clinics segment is expected to grow at the fastest CAGR over 2023-2030. The segmental growth is due to ophthalmologists opening their independent clinics and the increasing adoption of budget-friendly handheld products. Moreover, there is an increasing number of cataract diagnoses by these devices in these medical facilities.

REGIONAL INSIGHTS

Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North America market generated USD 85.7 million in terms of revenue in 2022. The region is anticipated to dominate the global share owing to the increased introduction of advanced products by market players and the widespread adoption of digital products. Moreover, a large population base with ocular diseases and the rise in the population pool of patient visits for diagnosis of these diseases will foster the regional outlook.

The market across the Asia Pacific is anticipated to depict the highest CAGR from 2023 to 2030. The highest CAGR of the region can be attributed to the increasing adoption of the devices coupled with the growing geriatric population across the region. Moreover, increasing investments by companies in the region to develop innovative products is predicted to the drive market growth.

Europe captured a substantial market share in 2022 and is anticipated to record a substantial CAGR during the forecast period, 2023-2030. Some of the factors contributing to the region’s growth include the increasing number of ophthalmologists, the wide occurrence of cataracts, and the increase in the number of adults undergoing diagnosis for these disorders in the region. Furthermore, the presence of prominent market players is anticipated to drive the regional market expansion.

Latin America & the Middle East & Africa markets accounted for a limited proportion of the global market in 2022. However, growing population suffering from eye-related diseases, rising healthcare investments, and increasing introduction of advanced products by the companies in these regions is anticipated to create prospects for growth in the market.

List of Key Slit Lamps Market Companies

HAAG-STREIT GROUP, ZEISS Group, and TOPCON CORPORATION to Lead Market Growth with Strong Product Portfolio

HAAG-STREIT GROUP, ZEISS Group, and TOPCON CORPORATION are some of the leading players considered in the market. The dominance of these players is attributable to a strong direct and indirect presence across the globe with diversified and advanced products in its portfolio. These market players are focusing on product launches to penetrate new markets and increase their focus on the development of technologically advanced products.

Other companies operating in the global market include Coburn Technologies, Inc., HEINE Optotechnik GmbH & Co. KG, Reichert, Inc., and other small & medium-sized players. These companies are focusing on various strategic developments such as partnerships, collaborations, and the introduction of new products.

• In December 2020, Norlase announced the addition of distributor partnerships of its ophthalmic devices, including slit lamps in the Middle East, Eastern Europe, Oceania, and Southeast Asia.

LIST OF KEY COMPANIES PROFILED:

• HAAG-STREIT GROUP (Switzerland)


• Coburn Technologies, Inc. (U.S.)


• HEINE Optotechnik GmbH & Co. KG (Germany)


• ZEISS Group (Germany)


• NIDEK CO., LTD. (U.S.)


• VISIONIX USA INC (U.S.)


• Reichert, Inc. (U.S.)


• TOPCON CORPORATION (Japan)

KEY INDUSTRY DEVELOPMENTS:

• September 2022 - Essilor Instruments USA introduced the SL650+ digital slit lamp with powerful AnaEyes SL software. The software supports diagnoses with high-definition images and videos.


• September 2020  - Zeiss announced the launch of a new slit lamp imaging system for Australian eyecare professionals.


• April 2020 - TOPCON CORPORATION offered Free Breath Shields for slit lamps in order to prevent the spread of coronavirus during eye exams.


• December 2019 - TOPCON CORPORATION announced the launch of the SL-D4 LED Slit Lamp with LED Illumination.


• March 2019 - Haag-Streit announced the launch of the HS-UK Slit Lamp 10-Year Warranty Maintenance Contract. It would cover all parts of the slit lamp against manufacturing defects, with any defective parts being replaced free of charge.

REPORT COVERAGE

The global slit lamps market forecast report provides a detailed competitive landscape. It focuses on industry overview and market dynamics such as the drivers, restraints, opportunities, and trends. Besides this, the report provides information related to technological advancements and key industry developments such as mergers and acquisitions in the market. Furthermore, the report focuses on the prevalence of ocular disease in key countries. In addition, the impact of COVID-19 is covered in the report.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2019-2030
Base Year	2022
Estimated Year	2023
Forecast Period	2023-2030
Historical Period	2019-2021
Growth Rate	CAGR of 5.8% from 2023-2030
Unit	Value (USD Million)
Segmentation	By Product Type Handheld/Portable Slit Lamps Table Mount Slit Lamps
By Technology Analog Digital
By End-user Hospitals Specialty Practices Others
By Geography North America (By Product Type, By Technology, By End-user, and By Country) U.S. Canada Europe (By Product Type, By Technology, By End-user, and By Country/Sub-region) U.K. Germany France Spain Italy Scandinavia Rest of Europe Asia Pacific (By Product Type, By Technology, By End-user, and By Country/Sub-region) Japan China India Australia Southeast Asia Rest of Asia Pacific Latin America (By Product Type, By Technology, By End-user, and By Country/Sub-region) Brazil Mexico Rest of Latin America Middle East & Africa (By Product Type, By Technology, By End-user, and By Country/Sub-region) GCC South Africa Rest of the Middle East & Africa