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Global Ophthalmology Devices Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Application, Disorders, Devices and Region - Industry Forecast (2023 to 2032)
Global Ophthalmology Devices Market
The global Ophthalmology Devices market size was valued at USD 5.0 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2032. The rise in prevalence of optical conditions such glaucoma, cataracts, diabetic retinopathy, and vitreoretinal disorders, along with technological developments in the instruments needed for these target applications, can be contributed to the market expansion. It is also projected that improved government activities to raise awareness of visual impairment will broaden the basis for market growth.
Ophthalmology is a field of medicine that focuses on the anatomy, physiology, and disorders of the eyes. Ophthalmology Devices are pieces of medical gear made for surgery, diagnosis, and vision correction. Due to the rising frequency of numerous ophthalmic disorders like glaucoma, cataracts, and other vision-related problems, these devices are becoming more and more important and widely used.
As they are more prone to age-related ophthalmic problems, the ageing population is driving up demand for Ophthalmology Devices. The National Institute on Aging (NIA) projects that 72 million people will be elderly by 2030. The frequency of diabetes-related blindness and the rising prevalence of diabetes are expected to drive market expansion. Nearly 422 million people worldwide have diabetes, most of whom reside in low- and middle-income nations, according to the World Health Organization.
Accurate diagnosis and better treatment of ocular problems are now possible because to technological breakthroughs. Improved management of cataract and macular degeneration, glaucoma, and dry eye disease has been made possible by improvements in drugs, diagnostic tools, laser technology, and surgical techniques. The use of ophthalmic equipment is anticipated to rise as a result of minimally invasive procedures including LASIK, multi-wavelength diabetic retinopathy treatment, ultrasonic phacoemulsification, and femtosecond laser surgery. Better patient outcomes and quicker recovery times follow these operations.
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Global Ophthalmology Devices Market: Segmentations
Global Ophthalmology Devices Market: By Key Players
Alcon
Bausch + Lomb
Carl Zeiss Meditec
Johnson & Johnson
Hoya
Essilor
Haag-Streit
Nidek
Staar Surgical
Topcon
Ziemer Ophthalmic Systems
Global Ophthalmology Devices Market: By Types
Vision Care Products
Ophthalmology Surgical Devices
Diagnostic and Monitoring Devices
Global Ophthalmology Devices Market: By Applications
Hospitals
Specialty Clinics
Ambulatory Surgical Centers (ASCs)
Global Ophthalmology Devices Market: Regional Analysis
The countries covered in the regional analysis of the Global Ophthalmology Devices market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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To increase knowledge of eye health and vision care among the general public, optometrists, and ophthalmologists for the diagnosis and treatment of ophthalmic diseases, many organisations have launched campaigns and programmes. Additionally, a number of suppliers provide seminars, tutorials, and workshops that teach ophthalmologists and technicians how to utilise different pieces of ophthalmic equipment. Such programmes aid in raising awareness of eye conditions and the availability of diagnostic tools. However, obstacles including the high cost of ophthalmic equipment in developing nations and a lack of highly qualified ophthalmologists may restrain market expansion.
The development and marketing of innovative products by major companies is a priority in the highly competitive ophthalmology devices market as they seek to improve their position there. Novartis AG, Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, HOYA Corporation, Johnson & Johnson, Nidek Co., Ltd., Topcon Corporation, Valeant Pharmaceuticals International, Inc., and Ziemer Ophthalmic Systems AG are some of the major companies active in the global Ophthalmology Devices market. Sonomed Escalon, Hoya Group, Gulden Ophthalmics, FCI Ophthalmics, Glaukos Corporation, and STAAR Surgical are some of the other participants in the market.
These market participants are using tactics including product launches, geographic expansions, mergers and acquisitions, and product launches to capture the largest market share possible and to improve their product portfolios. Additionally, major market participants are expanding their R&D spending to get a competitive edge.
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Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
Frequently Asked Questions About This Report
• How big is the Ophthalmology Devices market?
• What is the Ophthalmology Devices market growth?
• Which segment accounted for the largest Ophthalmology Devices market share?
• Who are the key players in Ophthalmology Devices market?
• What are the factors driving the Ophthalmology Devices market?
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