Ophthalmic Devices Market Size, Share, Trends, Regional Analysis and Forecast until 2025 | The market is Projected to Grow with 5.8% CAGR During 2017-2025

According to the latest study published by AnalystView Market Insights, by the end of 2025, the global ophthalmic devices market is anticipated to reach USD 53.62 billion with growth rate of 5.8%.

Ophthalmic devices market is primarily driven by the rise in incidence rate of ophthalmic disorders and blindness. For example, according to the National Eye Institute, around 139 billion USD costs annually to the U.S. due to vision loss and eye diseases. It is stated that more than 1.3 million Americans was blind in 2014 and the number is projected to increase by 2.2 million as of 2030. Such growing rate of incidences will spur the demand for ophthalmic devices, hence, supported the market growth. Additionally, advancement in technologies is also expected to boost the utilization of these devices across the globe, leading to drive the market growth. Other factors such as aging population, growing demand for these devices and other supported the market growth. However, high cost of some devices will hamper the market growth.

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Product segment categorized in terms of Diagnostic Devices, Surgical Equipment, and Vision Care Devices. Diagnostic devices are further categorized into Fundus Camera, Optical Coherence Tomography Scanner, Retinoscope, Pachymeter Ophthalmoscope, Biometer and others. Optical Coherence Tomography Scanner accounted for the largest share of the total diagnostics devise market, captured more than 40% share individually. High cost of such devices coupled with rising number of integration of OCTS devices in hospitals and clinics supported the market growth.
Surgical equipment segment is divided into Refractive Error Surgery Equipment, Glaucoma Surgery Equipment and Cataract & Vitreoretinal Surgery Equipment.Refractive eye surgery improves refractive state and eliminates dependency on contact lenses or glasses. There are five major techniques are commonly use for refractive surgery that includes PRK, Lasek, Lasik, Epi-Lasik and Femtosecond with common aim of reshaping the cornea curve by laser. This sub-segment shows considerable growth owing to the rise in prevalence of vision disorders such as hyperopia, myopia, astigmatism and keratoconus. Contact Lenses and Spectacle Lenses are the primary sub-segments of vision care devices market.

Companies such as Ziemer Ophthalmic, Nidek, Johnson & Johnson, Bausch & Lomb, Inc., Alcon, Inc., and Abbott Laboratories are the key players of this market. These companies are presenting extensive product line in this market segment. Additionally, key companies are rigorously involved in strategic mergers and acquisitions to expand their market share and customer base. It is justified by the strategic collaboration of Hoya Group with Seiko Epson Corporation.

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The global Ophthalmic Devices market is segmented on the basis of:

Market, by Product
- Diagnostic Devices
o Fundus Camera
o Optical Coherence Tomography Scanner
o Retinoscope
o Pachymeter Ophthalmoscope
o Biometer
o Others
- Surgical Equipment
o Refractive Error Surgery Equipment
o Glaucoma Surgery Equipment
o Cataract & Vitreoretinal Surgery Equipment
- Vision Care Devices
o Contact Lenses
o Spectacle Lenses

Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- Rest of the World

Market, by Country
- U.S.
- Canada
- Germany
- France
- India
- China

Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include additional 10 profiles of companies):
Ziemer Ophthalmic
Nidek
Johnson & Johnson
Bausch & Lomb, Inc.
Alcon, Inc.
Abbott Laboratories

USP of our key vendor analysis:
- Well-designed strategic framework design for these key players will help to understand the market movement including regional expansion, mergers & acquisitions, and new product developments
- Thorough SWOT i.e. Strength, Weakness, Opportunities and Threat for individual company profiling is analyzed in order to present a detailed market opportunity assessment.

Key benefits of the report:
• The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
• A thorough analysis of relevant statistical data to estimate the market paradigms
• Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
• Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

Research Methodology:
- Preliminary Data Mining: Secondary Research, Paid Databases, Primary Research
- Data Synthesis & Analysis: Top-Down Approach, Bottom-Up Approach, Supply Side and Demand Side
- Market Formulation: Market Dynamics, Total Addressable Market and Machine Learning Technique
- Data Verification: Quality Assurance and Reach a Conclusion

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