Global Ophthalmic Surgical Instrument Market, Major Deals, Trends, Key Players Analysis, Recent Developments - Forecast to 2024

The global ophthalmic surgical instrument market is growing at a significant pace due to the increasing prevalence of eye diseases due to growing geriatric population and technological advancement in ophthalmic surgical devices. The market has observed a high demand for cataract surgery device over the last few years, due to the increasing prevalence of cataract and the growing geriatric population.

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By the basis of product, the market is segmented into cataract surgery devices, vitreoretinal surgery devices, glaucoma surgery devices, refractive surgery devices, ophthalmic microscopes and ophthalmic surgical accessories.

The refractive surgery devices are further classified into excimer lasers, femtosecond lasers, refractive surgery instruments and kits and other refractive surgery lasers. The femtosecond lasers segment is estimated to account biggest share in the refractive surgery devices market and is anticipated to grow at fastest rate, due to increasing number of femtosecond laser-assisted surgeries and benefits associated with the surgery such as faster uncorrected visual acuity recovery, lower incidence of dry eyes, greater safety, less intraocular pressure variation in the femtosecond-created flap and less induced aberrations.

The growing prevalence of eye diseases such as cataract, glaucoma, technological advancement in ophthalmic surgical instrument, and increasing government initiatives to increase the awareness of visual impairment in order to control visual impairment and increasing healthcare expenditure are the primary growth drivers for ophthalmic surgical instrument market.

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Globally, North America is the biggest ophthalmic surgical instrument market as the region is increasing regulatory approvals, technological advancement in instruments and devices used for minimally invasive procedure and growing healthcare expenditure. Increasing prevalence of eye diseases due to growing geriatric population is also fueling the growth of the North American industry.

Asia-Pacific is observed to witness the fastest growth in the market. As the region comprises of largest population and geriatric population is increasing rapidly among them. In addition, increasing healthcare expenditure and increasing awareness on advance ophthalmic surgical devices also creating a positive impact on the ophthalmic surgical instrument market growth in the region.

Main players in the ophthalmic surgical instrument market are investing in the development of innovative and advance ophthalmic surgical products, which is strengthening their position in the market. In May 2017, Alcon launched multifocal toric IOL with multifocus optical design at American Society of Cataract and Refractive Surgery. Bausch & Lomb, Hoya, Iridex, Lumenis, Nidek, Topcon, Alcon, Carl Zeiss Meditec, Johnson & Johnson, Ellex Medical Lasers and Ziemer Ophthalmic Systems are the key players offering ophthalmic surgical devices.

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