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

Ophthalmic Devices MarketSize and Trends

Ophthalmic Devices Market - Insights

Ophthalmic devices are medical devices used to treat and identify certain ocular deformities and deficiencies of the eyes. The growth of ophthalmic devices market is driven by increasing incidence of eye disorders such as glaucoma, diabetic retinopathy, macular degeneration, cataract, among others. Ophthalmic devices are also used in various surgical processes such as ultrasound phacoemulsification for fast recovery rates and improved safety. Ophthalmic devices ranging from high complexity devices such as phoropters, ophthalmoscopes, retinoscopes, and scanning laser polarimetry devices to low end products such as contact lenses, spectacles, and lens cleaning and disinfecting solutions are available in the market. Therefore, demand for ophthalmic devices is expected to significantly increase over the forecast period.

Vision care device segment accounted for highest share in the ophthalmic devices market in 2017, owing to increasing demand for vision care devices such as contact lens and spectacles. Furthermore, increasing prevalence of eye disorders and growing awareness among the populace regarding eye health and safety are expected to propel growth of the vision care device segment. According to World Health Organization (WHO): October 2018, around 1.3 billion people worldwide suffer from some form of vision impairment, annually. According to the same source, uncorrected refractive errors and cataracts are the leading cause of vision impairment worldwide. Therefore, increasing number of eye related disorders propel demand for vision care devices, which in turn propels growth of the ophthalmic devices market. Moreover, increasing prevalence of various eye diseases such as cataract and glaucoma is expected to boost growth of the surgical devices segment.

The Global Ophthalmic Devices Market is estimated to be valued at US$ 48,726.0 million in 2018 and is expected to witness a CAGR of 4.3% over the forecast period (2018–2026).