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Advancing Vision: Ophthalmic Devices Market Insights
Ophthalmic Devices Market
Influence of Eye Diseases:
The surge in the incidence and prevalence of eye diseases significantly contributes to the market's growth. Disorders like age-related macular degeneration (AMD), glaucoma, and cataracts, emerging as major causes of global visual impairment, drive the demand for ophthalmic devices. As per the National Institute of Eye, the number of individuals with visual impairment or blindness is expected to double by 2050, underscoring the pivotal role of ophthalmic devices in addressing eye-related disorders.
Geriatric Population Dynamics:
The growing geriatric population globally is a key driver propelling the ophthalmic device market. As the demographic landscape shifts, the demand for ophthalmic devices increases, particularly due to the susceptibility of the elderly to age-related eye disorders. With the population aged 60 and above witnessing a substantial increase, the demand for ophthalmic devices is set to escalate, emphasizing the market's connection with demographic shifts.
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Technological Advancements:
Technological innovations stand out as a prominent trend in the ophthalmic devices market. Companies are strategically investing in automated and advanced platforms to enhance diagnosis and treatment. For example, Alcon's Clareon family of intraocular lenses features glistening-free material, reducing glare and enhancing visual clarity. Such advancements underscore the commitment to integrating cutting-edge technology for improved patient outcomes.
Innovative Product Development:
Major players in the market are focusing on innovative product development to solidify their market presence. Sight Sciences Inc., for instance, introduced the OMNI Surgical System and the TearCare System, targeting glaucoma and dry eye technologies. The OMNI Surgical System facilitates minimally invasive, implant-free glaucoma procedures, while the TearCare System addresses evaporative dry eye disease through interventional eyelid procedures.
Regional Dynamics:
North America leads the global ophthalmic devices market in 2023, with Asia-Pacific following closely as the second-largest region. These regions, along with others covered in the report, contribute to the market's global landscape.
Market Segmentation:
The ophthalmic devices market covered in this report is segmented -
1) By Type: Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
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Ophthalmic Devices Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Ophthalmic Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ophthalmic devices market size, ophthalmic devices market drivers and trends, ophthalmic devices market major players, ophthalmic devices market competitors' revenues, ophthalmic devices market positioning, and ophthalmic devices market growth across geographies. The ophthalmic devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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