Ophthalmology Devices Market Size | Share | Competitive Landscape

According to a new report published by Allied Market Research, Ophthalmology Devices Market, the physiology and diseases of eyes. Ophthalmic devices cover wide range of design types such as glasses, contact lenses, implants, surgical instruments and many others. In recent years, need for ophthalmic devices have increased three-fold due to increases in eye related disorders. For instance, in U.S. around 24.4 million people suffered from cataract in 2015. Each year around 2.4 million eye injuries are reported in U.S. These incidences have also raised the demand for ophthalmologists and in 2015, number of ophthalmologists were found to be 19,216 in U.S. and 213,459 worldwide.

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According to Porter's Five Forces analysis, the bargaining power of the supplier is high as products are highly differentiated. High switching cost leads to the low bargaining power of buyers. The threat of substitutes is low as few substitutes are available in the market. Many competitors with high exit barriers lead to intense competition in the market. The threat of new entrants is low as brand names are well known and profitability requires economies of scale. SWOT analysis helps in determining the internal and external environmental factors, which would help in strategic business planning. Analysis of key players and their strategies help in developing a market entry and expansion strategy.

Key Takeaways:

Technological Advancements: Ophthalmology devices are witnessing continuous technological advancements, contributing to improved diagnostic accuracy and treatment outcomes.

Diverse Applications: Ophthalmology devices have diverse applications, ranging from diagnostic tools such as optical coherence tomography (OCT) to surgical instruments like phacoemulsification systems used in cataract surgery.

Precision in Diagnostics: Devices such as retinal imaging systems and tonometers provide precise diagnostic information, aiding ophthalmologists in identifying and managing various eye conditions.

Surgical Innovations: Ophthalmic surgical devices, including femtosecond lasers and microkeratomes for refractive surgery, are advancing surgical precision and safety.

Rise of Teleophthalmology: The integration of digital technologies in ophthalmology devices is facilitating the rise of teleophthalmology, allowing remote consultations and expanding access to eye care.

Treatment for Age-Related Conditions: Ophthalmology devices play a crucial role in addressing age-related eye conditions such as cataracts, glaucoma, and macular degeneration, supporting an aging global population.

Growing Importance of Intraocular Lenses: Intraocular lenses, an essential component in cataract surgery, are witnessing innovations, including multifocal and toric lenses, providing improved vision outcomes.

Advancements in Contact Lens Technology: Contact lens technologies are evolving, with innovations in materials, designs, and functionalities, enhancing comfort and addressing diverse vision needs.

Increasing Focus on Glaucoma Management: Ophthalmology devices are emphasizing the management of glaucoma, with devices like tonometers aiding in monitoring intraocular pressure, a key factor in glaucoma diagnosis and treatment.

Patient-Centric Approaches: Ophthalmology devices are increasingly designed with patient comfort and convenience in mind, fostering better patient experiences and adherence to treatment plans.



KEY BENEFITS

This report provides the quantitative analysis of the current market and estimations, which assists in identifying the prevailing market opportunities.

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global ophthalmology devices market.

Geographically, the ophthalmology devices market is analyzed based on various regions.

Comprehensive analysis of factors that drive and restrict the growth of the global ophthalmology devices market is provided.

An in-depth analysis of current research, competitive landscape and clinical developments within ophthalmology devices market is provided with key market dynamic factors that helps in understanding the behaviour of the market.

Key market players within ophthalmology devices market are profiled in this report and their strategies are analysed thoroughly, which helps in understanding competitive outlook of global ophthalmology devices.



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Competitive Landscape:
Alcon Inc.

Essilor International S.A.

VisionCare Ophthalmic Technologies, Inc.

Ziemer Ophthalmic Systems AG

Topcon Corporation.

Haag-Streit AG

Bausch & Lomb, Inc.

Abbott Medical Optics Inc.

Johnson & Johnson

Nidek Co. Ltd.

Market Segments
By Product Type:

Surgical

Diagnostics & Monitoring

Vision care



By Diseases:

Cataract

Refractor Disorders

Vitreo Retinal Disorders

Glaucoma

By End User:

Hospitals

Medical Institutes

Research Organisations

Healthcare Service Providers

MARKET BY GEOGRAPHY

North America (U.S., Canada, Mexico)

Europe (France, Germany, Italy, Spain, UK, Rest of Europe)

Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)

LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)



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