Australia Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Australia Ophthalmic Devices Market is segmented by Devices (Surgical Devices, Diagnostic and Monitoring Devices and Vision Correction Devices)

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 5.5 %

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Market Overview

The ophthalmic devices are the medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to high prevalence of various ophthalmic diseases, such as glaucoma, cataract, and other vision related issues across the Australia. Moreover, technological advancements in the field has also boosted the adoption rate of the rate, globally.

Although there have been advancements, the devices are stilled deemed unsafe, and can cause damages if not handled professionally. Hence, all these factors can restrain the market growth.

Scope of the report

Ophthalmology is a branch of medical sciences, which deals with structure, function, and various diseases related to the eye. The ophthalmic devices are medical equipment designed for diagnosis, surgical, and vision correction purposes. 

By Devices
Surgical Devices
Glaucoma Drainage Devices
Intraocular Lenses
Other Surgical Devices
Diagnostic and Monitoring Devices
Autorefractors and Keratometers
Corneal Topography Systems
Ophthalmic Ultrasound Imaging Systems
Other Diagnostic and Monitoring Devices
Vision Correction Devices

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Key Market Trends

Vision Correction Devices are Expected to Register a High Growth CAGR

The vision correction devices or corrective lenses are used to aid and improve vision for those with common refractive errors like myopia, hypermetropia, astigmatism, and presbyopia. These visual impairments result in low vision. Moreover, these conditions seem to be rising in Australia that helps in increasing the ophthalmic devices market.

According to the 2017–18 National Health Survey (NHS) of Australia, the percentage of population with visual impairment has been increasing over the years in Australia. This is expected to increase the demand for vision correction devices in Australia, which will further help in the market growth.

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Competitive Landscape

The Australia has a well-structured and developed healthcare system. Australia also promotes research and development for pharmaceutical devices and hence has very high expenditure on healthcare. As a result of these policies, many companies globally are encouraged to operate in the region, which makes the market competitive.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases

      2. 4.2.2 Rising Geriatric Population

      3. 4.2.3 Technological Advancements in Ophthalmic Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Risk Associated with Ophthalmic Procedures

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Devices

      1. 5.1.1 Surgical Devices

        1. 5.1.1.1 Glaucoma Drainage Devices

        2. 5.1.1.2 Intraocular Lenses

        3. 5.1.1.3 Other Surgical Devices

      2. 5.1.2 Diagnostic and Monitoring Devices

        1. 5.1.2.1 Autorefractors and Keratometers

        2. 5.1.2.2 Corneal Topography Systems

        3. 5.1.2.3 Ophthalmic Ultrasound Imaging Systems

        4. 5.1.2.4 Other Diagnostic and Monitoring Devices

      3. 5.1.3 Vision Correction Devices

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Alcon Inc.

      2. 6.1.2 Bausch Health Companies Inc.

      3. 6.1.3 Carl Zeiss Meditec AG

      4. 6.1.4 EssilorLuxottica SA

      5. 6.1.5 HAAG-Streit Group

      6. 6.1.6 Hoya Corporation

      7. 6.1.7 Johnson and Johnson

      8. 6.1.8 Nidek Co. Ltd

      9. 6.1.9 Topcon Corporation

      10. 6.1.10 Ziemer Ophthalmic Systems AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Australia Ophthalmic Devices Market market is studied from 2018 - 2026.

The Australia Ophthalmic Devices Market is growing at a CAGR of 5.5% over the next 5 years.

Alcon Inc, Bausch Health Companies Inc, Johnson and Johnson, Carl Zeiss Meditec AG, Ziemer Ophthalmic Systems AG are the major companies operating in Australia Ophthalmic Devices Market.

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