Press release
Ophthalmic Devices Market Trends 2023: Predicted to Surpass USD 66.71 Billion by the year 2027
The ophthalmic devices market refers to the industry that designs, develops, and manufactures medical devices used in the diagnosis, treatment, and monitoring of eye diseases and disorders. This includes a wide range of products such as surgical instruments, diagnostic equipment, vision care products, and implantable devices.
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Ophthalmic Devices Market 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:
Product type:
Surgical Instruments: This includes devices used in various ophthalmic surgeries such as cataract, glaucoma, and refractive surgeries. Examples of surgical instruments include forceps, scissors, spatulas, and surgical knives.
Diagnostic and Monitoring Devices: This category includes devices used to diagnose and monitor eye conditions such as tonometers, ophthalmoscopes, optical coherence tomography (OCT) machines, and fundus cameras.
Vision Care Products: This includes products such as contact lenses, eyeglasses, and solutions used for eye care.
Others: This category includes devices such as implantable lenses, laser equipment, and microscopes.
End-user:
Hospitals: Ophthalmic devices are commonly used in hospitals for the diagnosis and treatment of various eye conditions.
Clinics: Eye clinics use ophthalmic devices for routine eye exams, as well as for diagnosing and treating various eye disorders.
Ambulatory Surgery Centers: These centers perform various ophthalmic surgeries on an outpatient basis, using specialized ophthalmic equipment.
Geography:
North America: This includes the United States and Canada, which are major markets for ophthalmic devices.
Europe: This includes countries such as Germany, France, Italy, and the United Kingdom, which have a high demand for ophthalmic devices.
Asia-Pacific: This includes countries such as China, India, Japan, and South Korea, which have a large population and a high prevalence of eye diseases.
Latin America: This includes countries such as Brazil and Mexico, which have a growing demand for ophthalmic devices.
Middle East and Africa: This includes countries such as Saudi Arabia, South Africa, and the UAE, which have a developing healthcare infrastructure and a growing demand for ophthalmic devices.
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Regional Analysis:
By region, the global ophthalmic devices market across North America held the lion's share in 2019, contributing to more than one-third of the market. This is owing to prevalence of age-related eye diseases including macular degeneration, cataract, glaucoma, and diabetic retinopathy in the U.S. However, the market across Asia-Pacific is estimated to showcase the highest CAGR of 4.6% from 2020 to 2027, due to presence of high population base, surge in disposable incomes, and improvement in patient awareness about advanced ophthalmic devices.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
Which are the driving factors responsible for the growth of market?
Which are the roadblock factors of this market?
What are the new opportunities, by which market will grow in coming years?
What are the trends of this market?
Which are main factors responsible for new product launch?
How big is the global & regional market in terms of revenue, sales and production?
How far will the market grow in the forecast period in terms of revenue, sales and production?
Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
Which region has more opportunities?
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Ophthalmology is a branch of medical sciences that deals with the structure, function, and various eye diseases. The ophthalmic devices are medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices gain increased importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues.
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Increase in prevalence rate of eye related diseases such as glaucoma, cataract,…
