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Oxygen Therapy being driven by increasing inclination towards personalized homecare especially among geriatric populace
In the year 2018 Global Ophthalmic Devices Market was valued at USD 37.37 billion. By the year 2023, it is predicted to reach USD 50.48 billion with pace of 6.20% CAGR.
Ophthalmology is a branch of medical sciences, which deals with structure, function, and various diseases related to the eye. Ophthalmology medical devices are used in many applications like vision care, diagnosis and surgery of eye infections.
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Factors affecting market growth:
Increasing geriatric population across the globe. (+)
Rising prevalence of eye related diseases such as glaucoma, cataract, refractive errors, AMD, and other infections. (+)
Increasing technological advancements in Ophthalmic Devices. (+)
High adoption of digital devices globally. (+)
Growing demand for ophthalmic devices and drugs. (+)
Lack of skilled professionals. (-)
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Market Segmentation
The Global Ophthalmic Devices market is segmented on the basis of
Product Type
Surgical Devices
Monitoring and diagnostic devices
Vision Care
Devices
Lenses
Glaucoma surgical devices
Ophthalmic Lasers
Cataract surgical devices
Iris retractors
Lens clearing and disinfectant solutions.
End-Users
Hospitals
Eye care Clinics
Research Institutes
Based on Product type segment, Vision care device holds the largest market share due to spectacles, contact lens, lens cleaning, disinfecting solutions for eyewear and also surgical devices which is expected to continue high growth rate in the global ophthalmic devices market during the forecast period.
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Key players:
Leading companies for Global Ophthalmic Devices Market are Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., Ziemer Ophthalmic Systems AG, Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., and Bausch & Lomb, Inc.
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