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Ophthalmic Devices Market Size Worth $53.62 Billion By 2025 | CAGR: 5.8%

Published Date : 25 / 09 / 17  | Report Format: PDF

The global Ophthalmic devices market is expected to grow at growth rate of 5.8% to reach USD 53.62 billion by 2025.

Ophthalmic devices market is primarily driven by the rise in incidence rate of ophthalmic disorders and blindness. For example, according to the National Eye Institute, around 139 billion USD costs annually to the U.S. due to vision loss and eye diseases. It is stated that more than 1.3 million Americans was blind in 2014 and the number is projected to increase by 2.2 million as of 2030. Such growing rate of incidences will spur the demand for ophthalmic devices, hence, supported the market growth.

Additionally, advancement in technologies is also expected to boost the utilization of these devices across the globe, leading to drive the market growth. Other factors such as aging population, growing demand for these devices and other supported the market growth. However, high cost of some devices will hamper the market growth.

Product segment categorized in terms of Diagnostic Devices, Surgical Equipment, and Vision Care Devices. Diagnostic devices are further categorized into Fundus Camera, Optical Coherence Tomography Scanner, Retinoscope, Pachymeter Ophthalmoscope, Biometer and others. Optical Coherence Tomography Scanner accounted for the largest share of the total diagnostics devise market, captured more than 40% share individually. High cost of such devices coupled with rising number of integration of OCTS devices in hospitals and clinics supported the market growth.

Surgical equipment segment is divided into Refractive Error Surgery Equipment, Glaucoma Surgery Equipment and Cataract & Vitreoretinal Surgery Equipment.Refractive eye surgery improves refractive state and eliminates dependency on contact lenses or glasses. There are five major techniques are commonly use for refractive surgery that includes PRK, Lasek, Lasik, Epi-Lasik and Femtosecond with common aim of reshaping the cornea curve by laser. This sub-segment shows considerable growth owing to the rise in prevalence of vision disorders such as hyperopia, myopia, astigmatism and keratoconus. Contact Lenses and Spectacle Lenses are the primary sub-segments of vision care devices market.

Companies such as Ziemer Ophthalmic, Nidek, Johnson & Johnson, Bausch & Lomb, Inc., Alcon, Inc., and Abbott Laboratories are the key players of this market. These companies are presenting extensive product line in this market segment. Additionally, key companies are rigorously involved in strategic mergers and acquisitions to expand their market share and customer base. It is justified by the strategic collaboration of Hoya Group with Seiko Epson Corporation

KEY BENEFITS OF THE REPORT:

  • Understanding of the strategies that are being adopted by the key players in this market to stay competitive
  • Extensive analysis of the key players dominating the competitive landscape of this market
  • In-depth analysis of the key factors are propelling the growth of the global market
  • Detailed analysis of the geographic region that will witness the strongest growth
  • Granular analysis of the current market scenario and the expected market grow

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET,BY PRODUCT

  • Diagnostic Devices
    • Fundus Camera
    • Optical Coherence Tomography Scanner
    • Retinoscope
    • Pachymeter Ophthalmoscope
    • Biometer
    • Others
  • Surgical Equipment
    • Refractive Error Surgery Equipment
    • Glaucoma Surgery Equipment
    • Cataract & Vitreoretinal Surgery Equipment
  • Vision Care Devices
    • Contact Lenses
    • Spectacle Lenses

MARKET, BY REGION

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

MARKET, BY COUNTRY

  • Further Breakdown of The North America Market
    • U.S.
    • Canada
  • Further Breakdown of The Europe Market
    • Germany
    • France
    • Rest of Europe
  • Further Breakdown of The APAC Market
    • India
    • China
    • Rest of APAC
  • Further Breakdown of The Rest of the World Market
    • Middle East and Africa
    • Latin America

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