Global Ophthalmology Surgical Devices Market Analysis and Forecast Predictions

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Ophthalmology Surgical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Ophthalmology Surgical Devices Market have been elaborated upon in the research report.

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Ophthalmology surgical devices are systems, products, and consumables used in retinal, refractive and cataract surgeries and for the diagnosis and effective treatment of eye diseases. These devices include intraocular lenses (IOLs), ophthalmic viscoelastic devices (OVDs), glaucoma drainage systems, excimer laser systems, femtosecond laser solutions, and consumables. The global ophthalmology surgical devices market was valued at around US$ 7.0 Bn in 2016 and is expected to expand at a CAGR of over 4.0% from 2017 to 2025, to reach value of around US$ 11.0 Bn by 2025. Rising elderly population worldwide is expected to contribute to increase in the number of people with avoidable blindness. This, in turn, is projected to drive the global ophthalmology surgical devices market from 2017 to 2025.

A major contributor to growth of the ophthalmology surgical devices market is rising burden of eye disorders across the world. Globally, disorders such as cataract, glaucoma, and age-related macular degeneration (AMD) are the leading causes of blindness and visual impairment. According to a report published by the World Health Organization (WHO) in 2010, cataract was responsible for causing blindness in 20 million people across the globe, which represented around 51% of the world blindness. Glaucoma was estimated to cause blindness in 4.5 million people, which accounted for around 12% of the global blindness. In addition, AMD was the third leading cause of blindness with worldwide prevalence rate of 8.7%. The growing burden of these eye conditions coupled with rising elderly population is expected to increase the need for corrective surgeries in the near future, subsequently stimulating the need for devices and systems used in these surgeries. Another key factor driving the market is several initiatives launched by countries as well as multilateral organizations for eradicating blindness. The Action Plan for Global Eye Health 2014–2019 proposes to decrease avoidable visual impairment considering it as a public health issue and to provide the visually impaired with access to rehabilitation services. As per the action plan, multilateral organizations along with their member states have set a target of reducing the number of patients with avoidable visual impairment by 25% by 2019, from the baseline established by the WHO in 2010. Additionally, high unmet needs for refractive surgeries led by the large number of patients with myopia or short-sightedness are also expected to fuel the market during the forecast period. As per a report published in the ‘Ophthalmology’ journal, around 30% of the global population is myopic or short-sighted currently and it is projected to increase to 50% of the global population (around 5 billion) by 2050. On the flip side, high costs (particularly of ophthalmic laser treatments) and high risks associated with ophthalmic surgery are projected to hamper the market during the forecast period. Technological advancements in surgeries such as cataract and glaucoma have led to increased safety and efficacy of these surgeries. This has helped improve patients’ acceptance of these treatment options. Also, launch of new ophthalmology surgical devices by major manufacturers is projected to create new growth avenues for the market in the next few years.

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The ophthalmology surgical devices market has been segmented as follows:

Ophthalmology Surgical Devices Market, by Product, 2017–2025
Cataract Surgery Devices
Intraocular Lenses (IOLs)
Ophthalmic Viscoelastic Devices
Others
Glaucoma Surgery Devices
Vitreoretinal Surgery Devices
Refractive Surgery Devices
Ophthalmology Surgical Devices Market, by End-user, 2017–2025
Hospitals
Ambulatory Surgical Centers
Ophthalmic Clinics
Ophthalmology Surgical Devices Market, by Geography, 2017–2025
North America
S.
Canada
Europe
K.
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
India
China
Japan
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
South Africa
Israel
GCC
Rest of MEA

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This release was published on openPR.