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The Business Research Company recently released a comprehensive report on the Global Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The diagnostic and monitoring ophthalmic devices and equipment market size has grown rapidly in recent years. It will grow from $2.85 billion in 2023 to $3.18 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to aging population, advances in ophthalmic imaging, prevalence of eye diseases, diabetes epidemic.

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Market Drivers and Trends:

The increasing incidence of diabetes is expected to propel the growth of diagnostic and monitoring equipment in the ophthalmic devices market going forward. Diabetes is a chronic disease that occurs when the body cannot effectively use or produce enough insulin, a hormone that regulates blood sugar levels. Diagnostic and monitoring equipment in ophthalmic devices such as smart contact lenses can be used for both continuous glucose monitoring and the treatment of diabetic retinopathy. They can wirelessly monitor glucose levels and provide real-time data to the user. For instance, according to the National Center for Biotechnology Information, a US-based series of databases relevant to biotechnology and biomedicine, in 2021, over 1.2 million children and adolescents have type 1 diabetes. Thus, the increasing incidence of diabetes is driving the growth of the diagnostic and monitoring equipment in the ophthalmic devices market.

Major companies operating in the diagnostic and monitoring equipment in the ophthalmic devices market are developing innovative products such as Smart contact lenses by using smart soft contact lens technology to better serve patients. Smart soft contact lens technology is a recent development that enables the continuous 24-hour monitoring of intraocular pressure (IOP) in glaucoma care. For instance, in January 2023, BVS Sight Inc., a US-based company launched Smart contact lenses by using smart soft contact lens technology. Smart soft contact lenses are built upon various commercial brands of soft contact lenses without altering their intrinsic properties such as lens power, biocompatibility, softness, transparency, wettability, oxygen transmissibility, and overnight wearability.

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Major Key Players of the Market:

Carl Zeiss Meditec; Alcon Inc.; Bausch + Lomb; Haag-Streit; Topcon Corporation; Nidek Co. Ltd.; Abbott Medical Optics; Johnson and Johnson Vision Care; Essilor International S.A; Ziemer Ophthalmic Systems AG; STAAR Surgical Company; Ellex; Quantel Medical Inc; Optovue; Canon Inc.; Halma plc; Coburn Technologies Inc.; Kowa Company Ltd.; AMETEK Inc.; AbbVie Inc.; Hoya Corporation; Ridex Corporation; CIBA Vision Corporation; CooperVision; Gulden Ophthalmics; Glaukos Corporation; FCI Ophthalmics; Matronix India Corporation; HEINE Optotechnik; Visionix Ltd.; Neo Vision; Clear Lab; Appasamy Associates; Ophtec BV; Lumenis; Intuvision Labs; Ocular Instruments; Ophthalmic Instruments Company; Keeler Ltd.; Oculus; Reichert Technologies; Tomey Corporation; US Ophthalmic

Diagnostic And Monitoring Ophthalmic Devices And Equipment Market 2024 Key Insights:

• The diagnostic and monitoring ophthalmic devices and equipment market size is expected to grow to $4.68 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• Diagnostic And Monitoring Equipment Revolutionizing The Ophthalmic Devices Market
• Innovative Advances In Ophthalmic Diagnostic And Monitoring Equipment
• North America was the largest region in the global diagnostic and monitoring ophthalmic devices and equipment market in 2023.

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