OPHTHALMIC DEVICES MARKET ANALYSIS

Ophthalmic Devices Market, by Product Type (Vision Care Devices (Spectacles and Contact Lenses), Surgery Devices (Cataract Surgery Devices, Refractive Surgery Devices, Vitreoretinal Surgery Devices, and Glaucoma Surgery Devices), and Diagnostic and Monitoring Devices (Fundus Camera, Optical Coherence Tomography Scanner, Retinoscope, Tonometer, Pachymeter, Optical Biometer, Autorefractor, and Others)), by End User (Hospitals, Ophthalmic Clinics and Centers, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

Published In : Dec 2018
Code : CMI686
Pages :185
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Increasing Adoption of Refurbished Ophthalmic Devices is Expected to Hinder the Market Growth

Among ophthalmic devices segment, ophthalmic imaging devices in the refurbished form witness increasing demand due to low production & material cost. However, this adversely affects the sales of manufacturer build or OEM build ophthalmic devices.

For instance, according to the Refurbishment of Medical Equipment Report on promising Key Enabling Technologies (KETs)-based product, published by European Commission in August 2017, refurbished diagnostic imaging equipment accounted for 75.5% of the global demand for refurbished medical devices, in 2015.

Refurbished medical devices specifically include, diagnostic imaging devices that create visual representations of internal organs of the body to help in medical intervention and clinical analysis. Generally, damaged or unused component are replaced with newer and updated components in the production of refurbished medical devices. Hardware or software may also be upgraded, followed by extensive testing, quality assurance, and (as required) re-submission for regulatory approval. Furthermore, high cost of new ophthalmic devices has led to increasing adoption of refurbished counterparts.