Ophthalmic devices include vision care products and surgery devices for the diagnosis and treatment of eye diseases. Risk of eye related diseases or retinal disorders such as vision defects (refraction), cataracts, and glaucoma, increase with age and can be chronic in several cases. Increasing prevalence of eye related disorders such as cataract, glaucoma, and blindness is expected to drive growth of the ophthalmic devices market. For instance, according to The International Agency for the Prevention of Blindness (IAPB), in 2015; 253 million people were blind or vision impaired, worldwide.  
Moreover, increasing prevalence of eye disorders in geriatric population and changing food habits leading to nutritional deficits in younger population are resulting in increasing adoption of ophthalmic devices. For instance, according to the International Journal of Advanced Medical and Health Research 2015, cataract is a major cause of blindness, affecting 17-18 million people worldwide, accounting for 39% of such cases.
Technological advancements in ophthalmic devices and increasing initiatives by government  and healthcare regulatory bodies to ensure establishment of sophisticated healthcare infrastructure and better eye safety and vision care is are expected to propel growth of the ophthalmic devices market. American Academy of Ophthalmology: a global association of eye physicians and surgeons, each month; engaged in raising awareness regarding eye health among the global population.
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Market Dynamics
Governments in emerging economies are focused on establishing sophisticated healthcare infrastructure and eye care centers. This is owing to increasing demand for treatment related to eye disorders such as cataract, glaucoma, and macular degeneration. This is turn is expected to boost growth of the global ophthalmic devices market.
For instance, Directorate General of Health Services: Government of India launched a National Program for Control of Blindness and Visual Impairment (NPCB&VI) in 1976 with the goal of reducing the prevalence of blindness to 0.3% by 2020. A current survey in progress (2015-18) shows projected rate of prevalence of blindness is 0.45%. Government of India is focused on lowering this rate to 0.3% by 2020.
In February 1999, the World Health Organization (WHO), together with over 20 international non-governmental organizations involved in eye care and prevention and management of blindness, launched VISION 2020, a global initiative that aims to eliminate avoidable blindness by 2020.     
Increasing Incidence of Eye Disorders is expected to Augment the Market Growth
Increasing prevalence of eye disorders such as glaucoma, diabetic retinopathy, macular degeneration, and cataract is expected to drive growth of the ophthalmic devices market. For instance, according to the International Journal of Advanced Medical and Health Research: 2015, cataract is a major cause of blindness and affects 17-18 million people worldwide, accounting for 39% of such cases, among overall blindness cases. Following cataract, glaucoma is the second major cause of blindness worldwide.
According to the BrightFocus Foundation, June 2017 data findings, in 2017; over 3 million Americans  suffer from glaucoma, of which 2.7 million - aged 40 and older - are affected by its most common form, open-angle glaucoma. Such high numbers are attributed to increasing prevalence of eye disorder in geriatric population and changing food habits leading to nutritional deficiency in younger population.
Although glaucoma may occur in people with or without diabetes, those with diabetic retinopathy have an increased risk of glaucoma. The condition is associated with abnormal blood vessel growth, which can result in retinopathy to eventually block natural drainage of the eye. According to the International Diabetes Foundation (IDF) 2017 statistics, prevalence of diabetes is high among people aged between 20 to 79 years worldwide, of which Africa (156%) accounted for the highest diabetic population, followed by Middle East (110%), South East Asia (84%), Latin and Central America (62%), North America (35%), Europe (16%), and Western Pacific (15%).  
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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. 
Among region, Asia Pacific is expected to be lucrative market for growth of the global ophthalmic devices market. This is owing to growing healthcare infrastructure, high prevalence of eye diseases, and increasing engagement of government bodies in preventing the cataract and blindness cases among the population. For instance, according to the data published by the Indian Journal of Ophthalmic in September 2018, cataract is responsible for 50–80% of bilateral blindness in India. Moreover, government initiatives such as the National Program for Control of Blindness (NPCB) and Vision 2020 are aimed at eliminating preventable blindness at the national level. Moreover, emerging economies such as China, India, and Japan are expected to witness significant growth in the market, owing to increasing investments by manufacturers in the region. Therefore, these factors are expected to increase adoption of ophthalmic devices in Asia Pacific.
Key players operating in the global ophthalmic devices market include, Carl Zeiss Meditec Group, Escalon Medical Corp., Haag-Streit AG, Heidelberg Engineering GmbH, Heine Optotechnik GmbH & Co. KG, Essilor International S.A., NIDEK CO., LTD., Quantel Medical SAS, Luneau Technology Group, and Topcon Corporation.
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