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The market is segmented by Devices (Surgical Devices, Diagnostic and Monitoring Devices, Vision Correction Devices) and Geography.
2018 - 2026
Fastest Growing Market:
The ophthalmic devices are 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 globe. Moreover, technological advancements in the field has boosted the adoption rate of the rate globally.
However, poor primary healthcare infrastructure in developing and under-developed countries has hindered the growth rate of the market. Also, although there have been advancements, the devices are stilled deemed unsafe, and can cause damages if not handles professionally. Hence all these factors have been restraining the market growth.
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.
In the report, a detailed analysis of the ophthalmic devices market is provided. The market is evaluated by collating revenues generated across segments, categorized by Devices and Geography.
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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 seems to be rising.
According to the National Eye Institute estimates, over 2.9 million American residents were detected with low vision, in 2014. The number is projected to increase further and is expected to reach around 5 million by 2030. Hence, as the number of people with low vision increase, the demand for vision correction devices are expected to increase as well.
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The factors, such as, high disposable income, high awareness, rising geriatric population and the increasing prevalence of eye diseases, are fueling the growth of the market in the North American region, especially in The United States and Canada.
As per a report by the US Centre of Disease Control and Prevention, there were about 40.9 million wearers of contact lenses aged 18 or older, which accounted for about 16.7% of the adult population in the United States, in 2015. In addition to this, according to the American Academy of Ophthalmology, each year, approximately 2.4 million eye injuries occur in the United States alone. This increasing of the eye injures helps in propelling the growth of the market.
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Majority of the ophthalmic devices are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases
4.2.2 Rising Geriatric Population
4.2.3 Technological Advancements in Ophthalmic Devices
4.3 Market Restraints
4.3.1 Risk Associated with Ophthalmic Procedures
4.3.2 Poor Primary Healthcare Infrastructure in Developing and Under-Developed Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Devices
5.1.1 Surgical Devices
184.108.40.206 Glaucoma Drainage Devices
220.127.116.11 Glaucoma Stents and Implants
18.104.22.168 Intraocular Lenses
22.214.171.124 Other Surgical Devices
5.1.2 Diagnostic and Monitoring Devices
126.96.36.199 Autorefractors and Keratometers
188.8.131.52 Corneal Topography Systems
184.108.40.206 Ophthalmic Ultrasound Imaging Systems
220.127.116.11 Optical Coherence Tomography Scanners
18.104.22.168 Other Diagnostic and Monitoring Devices
5.1.3 Vision Correction Devices
22.214.171.124 Contact Lenses
5.2.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.2.3 Asia- Pacific
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.2.4 Middle- East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.2.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Bausch Health Companies Inc.
6.1.3 Carl Zeiss Meditec AG
6.1.4 EssilorLuxottica SA
6.1.5 HAAG-Streit Group
6.1.6 Hoya Corporation
6.1.7 Johnson and Johnson
6.1.8 Nidek Co. Ltd
6.1.9 Topcon Corporation
6.1.10 Ziemer Ophthalmic Systems AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments