Ophthalmology Devices Market Gross Margin, Competitors, Business Overview, Distributors Forecast to 2023

The global ophthalmology devices market is growing significantly due to increasing prevalence of eye diseases, and technological advancements in ophthalmic devices. Shortages of ophthalmology devices providers in emerging economies and increasing age-related eye diseases are creating ample opportunities for the ophthalmology devices market to grow at a considerable rate in the coming years. The advanced research and development facilities and new product developments by the companies are propelling the demand for cost effective ophthalmic devices.

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Significant shift from spectacles to contact lenses and use of minimally invasive surgeries are some of the major trends in global ophthalmology devices market. Rise in aging population has fuelled the prevalence of eye disorders across the globe. According to the WHO, globally, there were 39 million people blind as of 2010, out of which 5% were blind due to age-related macular degeneration.

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The ophthalmology devices market is segmented on the basis of therapeutic applications, end-users, and products type. Based on therapeutic applications, the ophthalmology devices market can be categorized as diabetes retinopathy, cataract, macular degeneration, glaucoma, and others. Cataract leads the ophthalmology devices market due to high prevalence of cataract worldwide. Based on end-user, the ophthalmology devices market can be segmented as academic institutes and research laboratories, hospitals and others.

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Geographically, North America will be leading the global ophthalmology devices market in the coming years due to rise in aging population, advances in minimally invasive surgical techniques, and increasing prevalence of ocular disorders, such as diabetic retinopathy, glaucoma, and age-related macular degeneration. Asia-Pacific is the fastest growing region in the global ophthalmology devices market. The major reasons for the fastest growth in the region are increasing healthcare expenditure, improving healthcare infrastructure and acceptance of surgical procedures by patients. Moreover, the ophthalmology devices market is growing due to increasing disposable income and large population suffering with ocular diseases in the emerging countries, such as India and China, of Asia-Pacific region.

Some of the major players operating in the global ophthalmology devices market are Alcon Inc., Bausch & Lomb Inc., Abbott Medical Optics, Topcon Corporation, Carl Zeiss Meditec AG, Haag Streit, Johnson & Johnson, Nidek Co. Ltd., STAAR Surgicals, Hoya Corporation, Essilor International S.A., and Zeimer Ophthalmic Systems AG among others.

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