The global Ophthalmic Devices Market is forecast to reach USD 65.60 Billion by 2027, according to a new report by Reports and Data. Ophthalmology deals with the anatomy, physiology, and diseases of the eye. Ophthalmology devices are primarily used for the treatment of various eye conditions and infections.
As these devices help lowers the treatment time and provide quality eye care to patients, they also assist in making the eye-treatment process more convenient for patients and ophthalmologists. The rising focus of people on healthcare, continuous developments in the field of medical devices and an increase in investments in healthcare by the government is expected to drive the market in the coming years.
The emergence of robots in the field of ophthalmology is growing. Assistance facilitated by robots offers substantial improvements in terms of movement control, tremor cancellation, enhanced visualization, and distance sensing. Robotic technologies such as da Vinci Surgical System are integrated into the field of ophthalmology and are assisting surgeons in complex eye surgeries.
One of the restraints of the growth of the ophthalmic devices market is the high cost of their devices, mainly those that are exported. Moreover, the lack of skilled professionals, especially in the rural regions of emerging economies, is another prime concern for manufacturers.
North America held the largest market share in the ophthalmology devices market, owing to the introduction of highly advanced devices and techniques, prevalence of eye defects due to lifestyle changes, and government's supportive reimbursement policies. About 1.3 million Americans were blind, 2.9 million had low vision or eyesight, 24 million suffered from cataract in the year 2014, according to the National Eye Institute.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
Bausch + Lomb, Johnson & Johnson, Alcon, Topcon, Carl Zeiss Meditec, Essilor, Nidek, Haag-Streit, Ziemer Ophthalmic Systems, and Staar Surgical, among others.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Ophthalmic Devices market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Ophthalmic Devices industry, the market is segmented into:
Devices Outlook (Revenue, USD Billion; 2016-2027)
• Surgical Device
• Diagnostic and Monitoring Device
• Vision Care
Type of Disorders Outlook (Revenue, USD Billion; 2016-2027)
• Vitreo Retinal Disorder
• Refractor Disorders
End-Users Outlook (Revenue, USD Billion; 2016-2027)
• Specialty Clinics
• Ambulatory Surgical Centers
The regional analysis covers:
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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Benefits of Ophthalmic Devices Market Report:
• Panoramic overview of the opportunities and risks in the Ophthalmic Devices sector
• Study of recent innovations and developments in the industry
• Comprehensive study of the growth pattern of the Ophthalmic Devices industry
• In-depth assessment of the competitive landscape of the key players of the Ophthalmic Devices industry
• Analysis of the Ophthalmic Devices market drivers, constraints, and opportunities
• Assessment of technological developments and latest trends of the industry
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