Ophthalmic Devices Market Report 2024: Strategies And Recent Developments |> Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Ophthalmic Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The ophthalmic devices market size has grown rapidly in recent years. It will grow from $41.18 billion in 2023 to $45.6 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to aging population, increasing eye diseases, regulatory changes, the expansion and improvement of healthcare infrastructure, .

The ophthalmic devices market size is expected to see strong growth in the next few years. It will grow to $66.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rising diabetes rates, telemedicine and remote monitoring, emerging markets growth, minimally invasive surgery, advancements in genetics and personalized medicine . Major trends in the forecast period include artificial intelligence (AI) and machine learning, wearable technology, teleophthalmology, sustainable and eco-friendly devices, patient-centric care.

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Market Segmentation:
The main types of ophthalmic devices are vision care devices and equipment, cataract surgery devices and equipment, refractive surgery devices and equipment, and diagnostic and monitoring ophthalmic devices and equipment. Cataract surgery devices and equipment are devices that emit ultrasound waves that soften and break up the lens so that it can be removed by suction. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The various end uses involved are hospitals and clinics, diagnostic laboratories, and others.

Major Driver - The Impact Of Increasing Incidence And Prevalence Of Eye Diseases On The Ophthalmic Devices Market
The increasing incidence and prevalence of eye diseases are expected to contribute to the growth of the ophthalmic device market. Eye disorders such as age-related macular degeneration (AMD), glaucoma, and cataracts are becoming major causes of visual impairment and blindness globally. Ophthalmic devices play a crucial role in diagnosing, treating, and managing various eye disorders and conditions. For instance, in June 2022, according to the National Institute of Eye, an agency of the U.S. Department of Health and Human Services, the number of people with visual impairment or blindness is expected to double by 2050 and In the United States alone, by about 12 million people age 40 and older suffer from vision impairment, with about a million suffering from blindness. The increasing incidence and prevalence of eye-related disorders is expected to drive the use of ophthalmic devices in the diagnosis and treatment of eye-related diseases.

Competitive Landscape:
Major companies operating in the ophthalmic devices market include Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health Companies Inc., Carl Zeiss AG, Flex Ltd., Nidek Co. Ltd., Topcon Corporation, Rostec State Corporation, Alcon Inc., EssilorLuxottica, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceuticals, AbbVie Inc., Otsuka Pharmaceutical Co. Ltd., Edwards Lifesciences Corp., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Veeva System Inc., Recipharm AB, Menicon Co. Ltd., Chengdu Kanghong Pharmaceutical, Bangladesh Export Import Company Limited, Glaukos Corporation, STAAR Surgical Company, Omeros Corporation, Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Bora Pharmaceuticals Co. Ltd., Iridex.

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Top Trend - The Surge Of Technological Advancements In The Ophthalmic Devices Market
Technological advancements have emerged as a key trend gaining popularity in the ophthalmic devices market. Major companies operating in the market are focused on introducing new technologies such as automated and advanced platforms for improving diagnosis and treatment. For instance, in March 2022, Alcon, a Swiss-American pharmaceutical and medical device company, launched its Clareon family of intraocular lenses (IOLs) in the U.S. Clareon lenses feature a glistening-free IOL material. The lenses offer sharp, crisp vision with a proprietary edge that helps reduce glare and posterior capsular opacification.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ophthalmic Devices Market Characteristics
3. Ophthalmic Devices Market Trends And Strategies
4. Ophthalmic Devices Market - Macro Economic Scenario
5. Ophthalmic Devices Market Size And Growth
…..
27. Ophthalmic Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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