Ophthalmology Devices Market Estimated to Expand at a Robust CAGR over 2020

The diagnostic and monitoring device segment is further sub-segmented into fundus cameras, pachymeters, specular microscopes, optical coherence tomography scanners, keratometers, ophthalmic ultrasound imaging systems, wavefront aberrometers, tonometers, slit lamps and corneal topographers. The surgical device segment includes refractive device, vitreoretinal surgery device, cataract and glaucoma devices. The vision care segment comprises spectacles and contact lenses.

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Ophthalmology is the branch of medicines which deals with anatomy, physiology and diseases of the eye. Some of the major eye diseases include haloes, distorted vision, eyelid abnormalities, glaucoma, retinal disease and cataract. The ophthalmology device market is categorized based on various diagnostic and monitoring devices, surgical devices and vision care products. These segments comprise several devices used for treatment of eye diseases.

North America is the largest market for ophthalmology devices market followed by Europe and Asia. Asia is the fastest growing market for ophthalmology devices due to increasing number of eye surgeries for treatment of eye diseases. Moreover, many government initiatives are supporting in growth of ophthalmology devices market in the Asian countries.

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Global ophthalmology device market has emerged as one of the growing segments in medical devices market, due to increased demand of ophthalmology devices for treatment of eye diseases. Moreover, increasing prevalence of eye disorders, aging population, increasing government investment towards research activities and technical advancements are some of the key drivers for ophthalmology device market. Developing counties, such as China and India, have large number of aged people. Aged people are more susceptible towards eye diseases, such as cataract and age-related macular degeneration. This aging population requires more effective ophthalmology devices for the treatment of eye diseases.

Moreover, several government associations are also increasing awareness towards ophthalmic diseases. Advancement in ophthalmology devices like mydriatic, non mydriatic fundus cameras and femtosecond lasers holds immense potential for growth of ophthalmology device market

However, various factors, such as lack of awareness towards eye diseases, high risks associated with the eye surgeries hamper the growth of ophthalmology devices market. In addition, there are some problems associated with the use of ophthalmology device such as changes made to the cornea can’t be reversed after LASIK surgery.

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Some of the major companies operating in the ophthalmology devices market are Abbott Medical Optics Inc., Carl Zeiss Meditec AG, Bausch & Lomb Inc., Essilor International S.A, Ziemer Ophthalmic Systems AG and Topcon Corporation.

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