The Market For Global Ophthalmology Devices Market Is Expected To Grow At CAGR 2.5% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Ophthalmology Devices Market is projected to reach 66.6 billion by 2024, from USD 55.1 billion in 2016 growing at a CAGR of 12.5% during the forecast period of 2017 to 2024”.
The market is segmented By Type (Diagnostic & Monitoring Devices (OCT Scanners, Ultrasound, Fundus Cameras, Opthalmoscopes, Retinoscopes, Others), Surgical Devices (Cataract Surgery Devices, Glaucoma Surgery Devices, Refractive Surgery Devices, Vitreoretinal Surgery Devices) and Vision Care Devices), By Applications (Diagnosis, Surgery, Regular Use), By End-User (Hospitals, Academics, Research Laboratories, Diagnostic Clinics, Franchise Optical Stores, Government Agencies), By Distribution Channel (Retail, Direct Tenders), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Ophthalmology Devices Market: Recent Developments
The usage of medical ophthalmology devices are increasing in today’s market. Advancements in healthcare infrastructure and the aging population are two major factors expected to benefit the global ophthalmology devices market. More than 3 million Americans undergo cataract surgery each year; half of them are older than 65 years. In fact, cataract surgery as we know it today is one of the safest and most commonly performed surgeries in the United States. With the advancement in technology and availability of new devices, surgery is done with very less time and provides excellent visual outcomes to patients.
The benefits and goals of surgery may vary from person to person. Alignment of the eyes may make amblyopic therapy less intense. Proper alignment has chances to eliminate a range of symptoms such as double vision, eye strain or fatigue, and helps to restore the normal relationships between the eyes themselves and other facial structures. Only the patient and his family, with the advice of their doctor can determine if these benefits warrant undergoing strabismus surgery. Most surveys show that 92-98% of people who undergo with surgery are satisfied with the results. The technical advancements in the LASIK technique help in eliminating the clinically significant risks leading to visual impairment after a refractive surgery.
The key market drivers observed for ophthalmology are the aging population, changes in technology, availability of new devices, demographic shift and impact on prevalence of eye diseases, the emergence of ACO’s (Accountable Care Organizations) like PPACA, Medicare shared saving programs, Hospital acquisitions of ASC’s.
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Global Ophthalmology Devices Market Categories: Segmentation
The Global Ophthalmology Devices Market is segmented on the basis of product type, application, end-user, distribution channel and geography.
The diagnostic and monitoring devices market segment is further segmented into optical coherence therapy (OCT) scanners, ophthalmology ultrasound imaging systems, fundus cameras, opthalmoscopes, retinoscopes, wavefront abberrometers, corneal topography, autorefractors, keratometers, specular microscopes, visual field analyzers, tonometers and slit lamps.
The opthalmic ultrasound imaging systems is further segmented into A-Scan biometers, B-Scan Ultrasounds, UBM ultrasounds and pachymeters.
The ophthalmology surgery devices are further segmented into cataract surgery devices, glaucoma surgery devices, refractive surgery devices, and vetrioretinal surgery devices.
The cataract surgery devices are further segmented into intraocular lenses, ophthalmic viscoelasticity devices, and phacoemulsification devices.
The glaucoma surgery devices are further segmented into glaucoma drainage devices, stents and implants, and lasers.
The refractive surgery devices market is further subsegmented into excimer lasers, microkeratomes and femtosecond lasers.
Vitreoretinal surgery devices are further segmented into vitrectomy machines and packs, photocoagulation lasers, illumination devices, and vetrioretinal accessories.
On the basis of application the market is segmented into cataract surgery, vision care, ophthalmic woundcare and oculoplastics.
On the basis of end users the market is segmented into Hospitals, Academics, Eye Research Institutes, Research laboratories, Diagnosis Clinics, Franchise Optical Stores and, Government agencies
Global Ophthalmology Devices Market: Geographic Segmentation
The global ophthalmology devices market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes company share data for different geographies including Global, North America, Europe, APAC and Middle East and Africa.
On the basis of geography market is segmented into regions like, North America, Europe, Asia-Pacific, South America and Middle East and Africa. These geographical regions are further segmented into major countries such as US, Canada, Mexico, UK, Germany, France, Spain, Italy, Rest of Europe, Japan, China, India, Rest of APAC, Brazil, and Mexico.
Global Ophthalmology Devices Market: Company Share Analysis
The global ophthalmology device market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market Some of the major players operating in this market are Essilor, Marco, Heidelberg Engineering GmbH, Haag-Streit Group, Johnson and Johnson Vision Care, Inc. , HOYA GROUP, Abbott Laboratories Inc., CIBA Vision, Nidek Co., Ltd. , Topcon Corporation, Novartis AG, Carl Zeiss AG, Canon Inc., Cooper Vision AG, and Bausch and Lomb Inc, STAAR Surgical Company, Topcon Corporation, Alcon Inc., Bausch & Lomb, Inc. and, Allergan , Inc. among others.
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