Pupillometer Market projected moderate-paced CAGR of 7.7% during the forecast period | Future Market Insights
The forecast term is expected to see a moderately paced CAGR of 7.7% for the global pupillometer market. The market for pupillometers is currently estimated to be worth US$385.56 Mn in 2023. By the year 2033, it is predicted that the market for pupillometers would reach a peak of US$ 809.56 Mn.
Pupillometer is the portable instrument used for measuring pupil diameter. It is a handheld device that provides pupillary measurements qualitatively by using light stimulus. Pupillometry is a study of the cognitive functions of the pupil. Pupillometer provides pupillary size before/after the light stimulus, neuro papillary index, the percentage change of pupil and velocity of pupil constriction.
Pupillometer is a portable optical scanner that is used to stimulate the eye with light and response is taken as digital images which are analyzed to obtain a measurement of human pupil diameter. Pupillometers are integrated with NPi algorithms that are used to quantify pupillary reactivity. In most of the pupillometers, subjectivity was removed from the qualitative measurement.
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The individual pupil measurements taken from pupillometer were compared against the standard for determination of deviation. Pupillometers are a non-invasive and safe assessment of pupil and it is used mostly in neurological assessment. Most of the pupillometers are used for pupil monitoring and utilizes infrared lights to stimulate the pupil. They can record pupil diameter with a frequency of 5 to 60 HZ for monocular and binocular registration respectively.
Pupillometer Market: Drivers and Restraints
Pupillary reflex is an important factor in the prognosis and management of acute brain injury patients. Neurological assessment is a prerequisite for proper management of brain-related disorders, pupillometers play a vital role in understanding neurology by qualitative assessment of pupils.
Thus, the demand for pupillometer is increasing due to increasing prevalence of neurological disorders. Along with these, advancement of technologies led to the development of next-generation pupillometer which is way advanced than traditional pupillometry. Traditional pupillometry was subjected to parallax error and leads to inconsistencies and invariability. It results in high variation in the measurement of the pupil diameters. To overcome the variation in the measurement of pupil diameter, manufacturers increased the investments in innovation and developed the automatic infrared pupillometers.
Apart from these, raising awareness regarding the role of pupillometers in assessing the neurology qualitative resulted in the high penetration among the end user segment. All these factors fueled the growth of pupillometer market in the past and are expected to do same in near future.
The high cost of pupillometers affected the penetration in emerging countries which has slightly affected the potential growth of the pupillometer market.
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Pupillometer Market: Market Overview
Global Pupillometer market has witnessed a robust growth due to increasing demand for pupillometers in neurological assessment. Even though the cost of the next generation pupillometers is slightly higher than traditional methods, the adoption rate of pupillometers in developed economies is not affected due to the advantages of the instrument. Pupillometer market has a presence of many players which have a huge market share in developed countries operating at the country level. The key players in the pupillometer market are mainly focused on R&D to accelerate the development due to a limited number of innovating companies. The future of Pupillometer market anticipated with double growth rate during the forecast period.
Pupillometer Market: Key Participants
The key participants in the Pupillometer market mainly include:
Neuroptics, Inc., Luneau Technology Operations SAS, U.S ophthalmic LLC, and others. Companies are mainly focused on R&D to strengthen product development.
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