Ophthalmic Surgical Devices Market is Expected to Experience Significant Growth for the Forecast Period 2017 to 2025

Industry Trend Analysis
The global ophthalmic surgical devices market is expected to experience significant growth in coming years between 2017 and 2025. The market is primarily driven by factors such as increasing geriatric population worldwide, rising incidence of eye-related disorders, increasing demand for ophthalmic surgical devices in emerging countries, and technological advancements in the field of ophthalmology. Aging population is more susceptible to developing glaucoma as a result of age related tissue changes. According to the 2015 World Aging Population report by the UN, between 2015 and 2030, the global population aged 60 years and over is expected to grow by 56% from 901 million to 1.4 billion. This number is projected to rise up to 2.1 billion by 2050. With such substantial increase in the older population, the demand for ophthalmic surgical devices will significantly increase in coming years, thus favorably contributing to the growth of ophthalmic surgical devices market during the forecast period. However, factors such as unfavorable reimbursement policies can hamper the growth of ophthalmic surgical devices market during the forecast period.

Product Outlook and Trend Analysis
Refractive errors in the eye occur when parallel light rays entering the eye, do not focus on the retina. Femtosecond lasers are near infrared lasers that are used in refractive and cataract surgeries to facilitate precise corneal cuts. Excimer lasers are another such advanced lasers that are used in procedures such as photorefractive keratectomy (PRK) for refractive corrections. In addition to laser surgeries, glaucoma can also be treated using implants that are used to keep the surgically created opening from closing down. These implants decrease the intra-ocular pressure (IOP) by facilitating the outflow of intra-ocular fluid from the eye.

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Regional Outlook and Trend Analysis
North America dominated the global ophthalmic surgical devices market in 2016 owing to the presence of robust healthcare infrastructure in the region leading to the increasing development of minimally invasive surgical techniques. The Asia-Pacific ophthalmic surgical devices market is expected to witness fastest growth during the forecast period due to rising awareness related to eye disorders and their treatments along with increasing disposable income of the people in the region.

Competitive Outlook and Trend Analysis
Some of the key players operating in the ophthalmic surgical devices market include Glaukos Corporation, Alcon Laboratories, Inc. (acquired by Novartis AG), Ellex Medical Lasers Limited, Carl Zeiss Meditec AG, New World Medical, Inc., Johnson & Johnson Services, Inc., A.R.C. Laser GmbH, Ivantis, Inc., Allergan, Inc. (acquired by Actavis plc), Ziemer Ophthalmic Systems AG, IRIDEX Corporation, Valeant Pharmaceuticals International Inc., Topcon America Corporation, NIDEK CO., LTD. and Lumenis Ltd.

The major players focus on product development to introduce advanced products in the market that facilitate minimally invasive procedures. Also, strategic acquisition is a key strategy adopted by major players in the market to strengthen their product portfolio. For instance, in February 2016, Novartis AG’s eye care unit, Alcon, Inc., acquired Transcend Medical, a medical devices company, to strengthen its product portfolio for minimally invasive glaucoma surgery devices.

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Ophthalmic Surgical Devices Market Segmentation:

By Product:
Refractive Error Surgical Devices
Microkeratomes
Excimers and Femtosecond Lasers
Cataract Surgery Devices
Viscoelastics
Intraocular Lenses
Phacoemulsification Systems
Glaucoma Surgical Devices
Glaucoma Drainage
Implants and Stents
Glaucoma Laser Devices
Vitreoretinal Surgical Devices
Photocoagulation Lasers
Vitrectomy Machines & Vitrectomy Packs
Illumination Devices

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