Global Ophthalmic Devices Market is expected to reach $ 44.76 billion by 2021


Posted July 26, 2017 by Pradeep_T

Ophthalmic devices Market by Product Type, by devices, By End Users, by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)

 
Ophthalmology field needs medical devices for several functions such as vision care, diagnosis and surgery. The development in technology leads to innovative devices and increasing its application in ophthalmology has paved way for consumers to have a practical and an economical solutions for several eye-related disorders such as refractor disorders, vitreoretinal disorders and cataract. The most significant share of the market is contributed by vision care devices. These devices include spectacles, contact lens, lens cleaning and disinfecting solutions for eyewear and also surgical devices.

Ophthalmic devices Market was worth $ 33.13 billion in 2016 and estimated to be growing at a CAGR of 6.20 %, to reach $ 44.76 billion by 2021
Browse market data tables and in-depth TOC of the Global Ophthalmic Devices Market to 2021 @
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Major Factors that are driving the growth of the market are increasing geriatric population. It is also observed that the aged people are more prone to developing eye-related disorders such as dry eye, glaucoma. However, most of the developing countries in Asia Pacific are rising investment in healthcare infrastructure and promoting awareness about these disorders which in turn is supporting the regional market for ophthalmic devices. The market is also boosted by continuous technological advancements in the field of medical technology for the development of novel products which are more efficient and accurate. High cost of ophthalmic devices, the lack of skilled professionals in the rural regions of developing countries are hindering the growth of the market.

Based on the Product Type, the market has been classified into surgical devices, monitoring and diagnostic devices, vision care. Based on devices, the market is segmented into Lenses, Glaucoma surgical devices, Ophthalmic Lasers, Cataract surgical devices, Iris retractors, lens clearing and disinfectant solutions and others. Based on End-users, the market is segmented into Hospitals, Eye care Clinics, Research Institutes, Others.

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Furthermore, based on geography the market is segmented into various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is expected to account the largest share of the ophthalmology devices market, followed by Europe and Asia-Pacific. The growing awareness and presence of key players in the region is driving growth in North America. The Asia-Pacific region is expected to witness the highest CAGR in this market owing to improving healthcare infrastructure, increasing disposable income, increasing geriatric population.

Key players in the ophthalmic devices market include Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.

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Issued By Abhishek
Country India
Categories Business , Health , Marketing
Tags ophthalmic devices market
Last Updated July 26, 2017