Ophthalmic Devices Market Size, Share with CAGR 4.3%,  Product, Application, End Users and Geographic Scope And Forecast 2027

Ophthalmic devices are medical instruments used in the treatment of eye diseases and infections. They are used for diagnosis, vision correction, and surgical procedures. They help in providing quality eye care and shorten treatment times. Moreover, these devices are also more convenient to use. Ophthalmic devices are necessary for patients suffering from different types of eye disorders. Ophthalmic devices include a variety of instruments used in eye examinations. A hand-held device is called an ophthalmoscope. It contains a concave mirror and a light source that is attached to the examiner's headband. The range of ophthalmic devices is broad, and the most important is the use of the latest technologies to correct defects in the eye. Ophthalmic devices also include lasers, solutions, and surgical instruments.

The global ophthalmic devices market, in terms of revenue, is anticipated to progress at a CAGR of 4.3% during the forecast period, 2021-2027.

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Drivers:

The high incidence of ophthalmic disorders in the world is expected to fuel the growth of the global ophthalmic devices market. For instance, according to the World Health Organization, in the world, around 2.2 billion individuals suffer from a distance or near vision disabilities. Today, there are many ophthalmic devices on the market. Among these are a variety of intraocular lenses. These are important in a doctor's practice, but there are also several therapeutic devices available. Some of the most commonly used diagnostic ophthalmic devices are retinal imagers, iris analyzers, and slit lamp systems. However, ophthalmic devices are not just for the diagnosis. They can be used to treat eye disorders or to alleviate symptoms associated with an eye condition. Increasing product launches by key players are estimated to enhance the growth of the global ophthalmic devices market

Competitive Section:

The market research report covers the analysis of key stake holders of the global ophthalmic devices market. Some of the leading players profiled in the report include Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Holding AG, Hoya Corporation, Johnson & Johnson, among others.

Restraints:

The high cost of ophthalmic equipment is expected to hinder the growth of the global ophthalmic devices market.

Regional Insights:

North America is expected to dominate the growth of the global ophthalmic devices market, owing to the increasing prevalence of vision-related disabilities in the region. For instance, according to the U.S. Centers for Disease Control and Prevention, around 12 million individuals in the U.S., aged 40 or more suffer from vision impairment, and around 1 million are blind.

The Asia Pacific is estimated to witness significant growth in the global ophthalmic devices market owing to the increasing incidence of geriatric population in the region. Moreover, increasing investments in the healthcare sector are assessed to propel market growth.

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