Pune, April 06, 2022 (GLOBE NEWSWIRE) -- Ophthalmic Devices market report is expert study that can deliver you with an elaborate analysis of the Ophthalmic Devices. The report covers information about top players, projected size of the market, data and figures to update about where opportunities are in the market, competitor analysis and vendor information. Also, it offers a complete analysis of the key market dynamics, with growth drivers, challenges, restraints, opportunities and trends. Furthermore, receive exact details and statistics associated to Ophthalmic Devices market and its key factors such as revenue, growth, compound annual growth, year-over-year developments, consumption, and production.
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The global ophthalmic devices market is predicted to reach USD 68.2 Billion by 2027. Ophthalmic devices are medical devices used in the identification and treatment of ocular defects or deficiencies and eye disorders. The ophthalmic devices are designed for diagnostics, surgical, and vision correction purposes. These devices are continuously gaining increased importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues. According to the World Health Organization (WHO): Globally, at least 2.2 billion people have a vision impairment or blindness, of whom at least 1 billion have a vision impairment that could have been prevented or has yet to be addressed. Therefore, increasing number of eye related disorders propel demand for vision care devices, which in turn propels growth of the ophthalmic devices market. However, the elements such as the high cost of ophthalmic devices and dearth of skilled professionals with expertise in ophthalmic surgery are projected to hamper the growth of the market.
Competitive Landscape:
Report offers the Ophthalmic Devices market competition landscape and a corresponding comprehensive study of the prominent players in this market, include
- Alcon, Inc.
- Carl Zeiss Meditec AG
- Topcon Corporation
- Bausch Health Companies Inc. (Formerly Valeant Pharmaceuticals International, Inc.)
- Iridex Corporation
- Ellex Medical Lasers (Acquired by Quantel Medical)
- Escalon Medical
- Second Sight Medical Products Inc.
- Lumenis
- Nidek Co., Ltd.
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Market Segmentation:
Ophthalmic Devices market report deliversstudy of the key trends in each sub-segment of the worldwideOphthalmic Devices report, with estimates for development at the global, regional and country level and categorized the market based on product type, applications, regions.
By Products - Global Ophthalmic Devices Market and Forecast
- On product basis, contact lens held largest share of the ophthalmic devices market, while, cataract surgery devices accounted for second highest share of the total ophthalmic devices market.
- Retinal surgery devices is the third largest product segment of the ophthalmic devices market in 2021.
- The global market for fundus camera is predicted to exceed USD 800 Million by 2027.
- The optical coherence tomography (OCT) has become the standard of care for the assessment and treatment of most retinal diseases. Introduction of hybrid techniques such as optical coherence tomography angiography (OCTA) can open up new pathways for the market.
- Glaucoma surgery is currently evolving with introduction of several new devices and those in pipeline have continued to address the focus on safety of glaucoma surgery.
- The global cataract surgery devices market is projected to surpass USD 9.3 Billion mark by 2027.
By Application Segment - Global Ophthalmic Devices Market and Forecast
- On the basis of application, the vision care segment dominated the overall ophthalmic devices market.
- Surgical instruments devices held second highest share of the overall ophthalmic devices market, while the diagnostic & monitoring devices segment is expected to grow at the fastest rate during the forecast period.
- Diagnosis is an indispensable process in the treatment of eye disorders and is responsible for contributing towards the diagnostics & monitoring segment’s growth.
By Region - Ophthalmic Devices Market and Forecast
- North America dominated the global ophthalmic devices market in 2021.
- In North America, United States captures highest share of the total ophthalmic devices market.
- Europe represents a major market for ophthalmic devices, owing to rising chronic eye diseases among geriatric population.
- In Europe, Germany and United Kingdom are the major market for ophthalmic devices.
- Asia Pacific is anticipated to grow at the fastest rate over the forecast period due to the presence of untapped opportunities in the emerging economies such as China and India.
- Japan ophthalmic devices market dominated the Asia Pacific region, while China accounted for around 5% share of the global ophthalmic devices market in 2021.
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By End Users - Global Ophthalmic Devices Market and Forecast:
• Consumers segment accounted for highest share of the global ophthalmic devices market, as majority of the ophthalmic products such as vision care products are used by the common consumers.
• Hospitals and ophthalmic clinics & centers captured 2nd and 3rd largest share of the overall ophthalmic devices market respectively in 2021.
• Ambulatory surgical centers are likely to grow at the fastest rate during the forecast period, as these centers provide cost-effective services and a convenient environment that is less stressful than what many hospitals can offer.
Years considered for this report:
Historical Years: 2011-2027
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2022-2027
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