South Korea Ophthalmic Devices Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented By Devices (Surgical Devices, Diagnostic and Monitoring Devices)

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

CAGR:

4.2 %

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Market Overview

The ophthalmic devices are medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to rising burden of various eye diseases such as glaucoma, cataract, and other vision related issues. The rising prevalence of eye-related diseases is leading to increased demand for ophthalmic devices. In many developed and developing countries, eye conditions have emerged as potential threats to the populations. Cataract surgery is considered as the most commonly performed surgery in Korea. According to National Health Insurance Service, it was estimated that around 360,000 people underwent cataract surgery in Korea in 2016. Hence, as the number of eye disorders increases, there is a large demand for ophthalmic devices that are used for both diagnostic and therapeutic purposes, driving the market growth over the forecast period. However, risk associated with ophthalmic procedures is expected to hinder the market growth.

Scope of the report

As per the 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 Devices
Intraocular Lenses
Lasers
Other Surgical Devices
Diagnostic and Monitoring Devices
Autorefractors and Keratometers
Ophthalmic Ultrasound Imaging Systems
Ophthalmoscopes
Optical Coherence Tomography Scanners
Other Diagnostic and Monitoring Devices

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Key Market Trends

Lasers Segment is Expected to Show Better Growth in the Forecast Years

Based on Surgical Devices, the market is segmented into Glaucoma Devices, Intraocular Lenses, Lasers and Other Surgical Devices. Laser eye procedure is intended to correct long-term vision problems in people. Laser can be applied to the iris or the trabecular mesh work to allow aqueous fluid to flow more effectively within the eye and drain better by the normal drainage channels within the eye. Laser vision correction has a very high success rate, and many patient’s reliance on eyeglasses or contact lenses is significantly reduced. Hence, owing to their high growth opportunities, the segment is believed to witness rapid growth over the forecast period.

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Competitive Landscape

The global players in the South Korea ophthalmic devices market are Alcon Inc., Carl Zeiss Meditec AG, Hoya Corporation, Johnson and Johnson, Nidek Co. Ltd, Topcon Corporation and Ziemer Group AG.

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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 Rising Burden of Eye Disorders

      2. 4.2.2 Technological Advancements

    3. 4.3 Market Restraints

      1. 4.3.1 Risk Associated with Ophthalmic Procedures

    4. 4.4 Porter's Five Forces 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 Devices

        2. 5.1.1.2 Intraocular Lenses

        3. 5.1.1.3 Lasers

        4. 5.1.1.4 Other Surgical Devices

      2. 5.1.2 Diagnostic and Monitoring Devices

        1. 5.1.2.1 Autorefractors and Keratometers

        2. 5.1.2.2 Ophthalmic Ultrasound Imaging Systems

        3. 5.1.2.3 Ophthalmoscopes

        4. 5.1.2.4 Optical Coherence Tomography Scanners

        5. 5.1.2.5 Other Diagnostic and Monitoring Devices

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Alcon Inc.

      2. 6.1.2 Carl Zeiss Meditec AG

      3. 6.1.3 Hoya Corporation

      4. 6.1.4 Johnson and Johnson

      5. 6.1.5 Nidek Co. Ltd

      6. 6.1.6 Topcon Corporation

      7. 6.1.7 Ziemer Group AG

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

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

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