Ophthalmology Devices Market is Anticipated to Reach a Value of US$18.28 bn by 2018

Transparency Market Research has published a new report on the global ophthalmology devices market. As per the report, the global ophthalmology devices market is predicted to progress from US$12.92 bn in 2011 to US$18.28 bn by 2018. The report, titled ‘Ophthalmology Devices Market – Global Industry Analysis, Size, Share, Growth, And Forecast 2012 – 2018’, states that the global ophthalmology devices market is expected to expand at a 5.10% CAGR for the period between 2012 and 2018.

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Ophthalmology devices are used for numerous functions such as surgery, diagnosis, and vision care. Development of orphan products and innovative applications in ophthalmology have offered consumers economical solutions for numerous eye disorders. Various ophthalmology devices are used by individuals suffering from eye-related disorders, whereas healthcare providers use ophthalmology devices for the diagnosis and treatment of eye-related disorders.

It is observed that the elderly are prone to develop many eye-related disorders, thus are the target customers for the manufacturers of ophthalmology devices. Continuous growth in the medical device segment coupled with the introduction of new devices by the new entrants has impacted the global ophthalmology devices market in the recent past. However, the high cost of devices is expected to hamper the growth of the global ophthalmology devices market in the years to come. The global ophthalmology devices market is expected to expand at a rapid pace due to factors such as a rise in the aging population, growing focus on healthcare, and advancements in ophthalmology devices. The global ophthalmology devices market is segmented on the basis of disorder, application, device, and region. By application, the global ophthalmology devices market is divided into diagnosis, surgery, and vision care.

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The increasing incidence of vitreoretinal disorders, refractor disorders, and cataract has contributed to the growth of the global ophthalmology devices market in the recent past. Based on disorder, the global ophthalmology devices market is classified into cataract, glaucoma, refractor disorders, and vitreoretinal disorders.

By device, the global ophthalmology devices market is classified into canaloplasty device, computerized field analyzer, contact lens, contact lens clearing and disinfecting solution, glaucoma drainage device, optical coherence tomography device, phoropter, refractor, retinoscope, scanning laser polarimetry device, slit lamp, spectacle lens, tonometers, viscoelastics devices, vitreo retinal surgery packs, and many more. Currently, the vision care devices market accounts for nearly 65% of the global ophthalmology devices shipments.Some of the leading companies in the global ophthalmology devices market are Essilor International, Johnson & Johnson Vision Care, Hoya Corporation, Abott Medical Optics Inc., Nidek Co Ltd., Topcon Corporation, Alcon Inc., Carl Zeiss AG, Canon Inc., and CooperVision AG.

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Based on geography, the global ophthalmology devices market is divided into North America, Latin America, Europe, Asia Pacific, and Rest of the World. In 2011, in terms of revenue, North America dominated the global ophthalmology devices market, followed by Europe and Asia Pacific. The increasing number of innovative ophthalmology devices being introduced by the new entrants will make the global market for ophthalmology devices highly competitive for the leading players in the years to come.

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