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Global Ophthalmic Devices Market Analysis Report by Size, Share, Growth and Assessment to 2027
Ophthalmic Devices Market
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Ophthalmology is a branch of medical sciences, which deals with structure, function, and various diseases related to the eye. The ophthalmic device based on the product function are majorly categorized into surgical, diagnostic, and vision care devices. The increase in prevalence of eye related diseases such as glaucoma, cataract, refractive errors, AMD, and others drive the global ophthalmic devices market. Increase in prevalence and technological advancements in the devices also fuel the growth of the market.
Increase in prevalence rate of eye related diseases such as glaucoma, cataract, and others, rapid technological advancements, increase in initiatives to spread awareness, and high adoption of digital devices worldwide boost the global ophthalmology devices market. Although these factors are expected to fuel the growth of ophthalmic devices market, elements such as a lack of awareness and dearth of skilled professionals are projected to hamper the growth of the market.
The cataract surgery devices segment accounted for the major share in the ophthalmic surgical devices market, and is expected to continue its dominance throughout the forecast period. This segment is expected to grow at a CAGR of 4.8% during 2016-2022, owing to high prevalence of cataract worldwide.
According to Deepa Tatkare, Senior Research Analyst, Healthcare at Allied Market Research, "The use of ophthalmic devices is expected to increase in the near future, owing to the spiraling rise in prevalence of eye diseases, such as glaucoma, cataract, and refractive errors. North America dominates the global ophthalmic devices market, and is expected to maintain its lead throughout the forecast period, owing to the high adoption rate of ophthalmic devices."
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KEY FINDINGS OF OPHTHALMIC DEVICES MARKET
• The surgical devices segment is projected to grow at the fastest rate during the forecast period.
• North America held a dominant position in the regional landscape in 2015, occupying a share of more than one-third of the total market.
• In 2015, the diagnostic segment accounted for a share of one-third of the total ophthalmic devices market.
• The contact lenses segment accounted for a share of more than one-third of the global ophthalmic devices market in 2015.
In 2015, North America accounted for nearly one-third of the global market, owing to the high prevalence of various eye diseases in the region. Europe holds the second position in the global ophthalmic devices market.
The major companies profiled in the report includes Novartis AG, Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, Johnson & Johnson, Nidek Co., Ltd., Topcon Corporation, Valeant Pharmaceuticals International, Inc., Hoya Corporation, and Ziemer Ophthalmic Systems AG.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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