Ophthalmic devices Market by Product Type (Surgical devices, monitoring and diagnostic devices, vision care), by devices (Lenses, Glaucoma surgical devices, Ophthalmic Lasers, Cataract surgical devices, Iris retractors, lens clearing and disinfectant solutions and others), By End Users (Hospitals, Eye care Clinics, Research Institutes, Others), by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
Ophthalmic devices Market was worth $ 33.13 billion in 2016 and estimated to be growing at a CAGR of 6.20 %, to reach $ 44.76 billion by 2021
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Ophthalmology field needs medical devices for several functions such as vision care, diagnosis and surgery. The development in technology leads to innovative devices and increasing its application in ophthalmology has paved way for consumers to have a practical and an economical solutions for several eye-related disorders such as refractor disorders, vitreoretinal disorders and cataract.
The most significant share of the market is contributed by vision care devices. These devices include spectacles, contact lens, lens cleaning and disinfecting solutions for eyewear and also surgical devices.
Major Factors that are driving the growth of the market are increasing geriatric population. It is also observed that the aged people are more prone to developing eye-related disorders such as dry eye, glaucoma.
However, most of the developing countries in Asia Pacific are rising investment in healthcare infrastructure and promoting awareness about these disorders which in turn is supporting the regional market for ophthalmic devices. The market is also boosted by continuous technological advancements in the field of medical technology for the development of novel products which are more efficient and accurate.
High cost of ophthalmic devices, the lack of skilled professionals in the rural regions of developing countries are hindering the growth of the market.
Based on the Product Type, the market has been classified into surgical devices, monitoring and diagnostic devices, vision care. Based on devices, the market is segmented into Lenses, Glaucoma surgical devices, Ophthalmic Lasers, Cataract surgical devices, Iris retractors, lens clearing and disinfectant solutions and others.
Based on End-users, the market is segmented into Hospitals, Eye care Clinics, Research Institutes, Others. Furthermore, based on geography the market is segmented into various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
North America is expected to account the largest share of the ophthalmology devices market, followed by Europe and Asia-Pacific. The growing awareness and presence of key players in the region is driving growth in North America.
The Asia-Pacific region is expected to witness the highest CAGR in this market owing to improving healthcare infrastructure, increasing disposable income, increasing geriatric population.
Key players in the ophthalmic devices market include Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.
- Surgical Devices
- Monitoring and diagnostic devices
- vision care
- Y-o-Y Growth Analysis, By Product Type
- Market Attractiveness Analysis, By Product Type
- Market Share Analysis, By Product Type
- Glaucoma surgical devices
- Ophthalmic Lasers
- Cataract surgical devices
- Iris retractors
- lens clearing and disinfectant solutions
- Eye care Clinics
- Research Institutes
Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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