Adaptive Optics Market Growth & Trends
The global adaptive optics market size is expected to reach USD 463.2 million by 2027, expanding at a CAGR of 9.0%, according to a new report by Grand View Research, Inc. The growing prevalence of different retinal diseases such as retinal degenerations, inherited color vision deficiencies, albinism, glaucoma, and many other eye diseases is expected to drive the market. Additionally, the growing awareness of Adaptive Optics (AO) and its effective usage in research for retinal imaging is also expected to contribute towards market growth.
Preference for non-invasive diagnostic and treatment options is expected to propel the adoption of AO devices. These devices came along with many associated advantages apart from being non-invasive, which made them a preferred option. Traditional imaging devices come with certain challenges due to light distortion, which, in turn, creates inaccuracies in terms of results or images. Adaptive optics help in overcoming these challenges and inaccuracies by manipulating the optical wavefront.
Imaging devices are being developed using adaptive optics like AO fundus camera, AO-OCT, and AO ophthalmoscope. Based upon the application for which these devices are used, deformable mirrors which are also termed as wavefront correctors are being developed. Technological advancement in these mirrors is done using different types of actuators for providing effective optical properties during retinal imaging. Since deformable mirror acts as an important component of the AO device, players, in order to enter the market, consider it as a great opportunity.
Advanced AO devices are complex to handle, therefore, lack of proper training regarding its usage and operation may hinder its adoption. Moreover, the lengthy procedure and the complex algorithm of the device to capture, analyze, and develop the images is also expected to impact market growth. These devices are present at a high-cost, thus, the installation of AO in clinical settings can be challenging.
Adaptive Optics Market Report Highlights
- The wavefront sensors segment held the largest revenue share in 2019 owing to the advantages associated with the device in comparison to topographer in telling about the complete effect on all the optical surfaces
- Deformable mirrors which are wavefront correctors are expected to witness the fastest growth rate due to the growing development of advanced actuators for making effective usage of AO in various other applications
- Microscopy held the largest revenue share in 2019 owing to the growing usage of AO devices for research purpose in microscopy, as it helps in studying the cellular process of the tissue more accurately
- The ophthalmology segment is expected to witness the fastest growth rate over the forecast period owing to the increasing usage of AO in treating retinal diseases
- Penetration of adaptive optics in laser applications is gradually increasing to enhance its performance in different fields such as ophthalmology
- In 2019, North America dominated the market with the largest revenue share, as countries like the U.S. and Canada act as early adopters of AO in research as well as clinical applications
- Asia Pacific is expected to show the fastest growth rate during the forecast period, mainly due to the growing approval of adaptive optics devices for usage in countries like Japan and China.